Cellular IoT Market: Current Analysis and Forecast (2022-2030)

Cellular IoT refers to the use of cellular networks to enable Internet of Things (IoT) devices to communicate with each other and with the internet. Cellular IoT devices use cellular networks to connect to the internet and exchange data with other devices or applications. In recent years, the cellular IoT market has seen a significant growth with the proliferation of connected devices and the increasing demand for real-time data processing, cellular IoT has become an essential component of the modern technology landscape.

The Cellular IoT Market is expected to grow at a strong CAGR of x% during the forecast period owing to the increasing demand for remote monitoring and control. Moreover, advancements in edge computing, the adoption of 5G networks, and need for real-time data processing is driving the market. For instance, a surveillance or a delivery drone which is a coud dependent iot device is used to transport packages, goods, or other items from one location to another

Based on component, the market is bifurcated into hardware and software. Amongst these, the software segment with hold higher CAGR during the forecast period owing to the increasing demand for need for secure and reliable data transfer and management. This has led to the development of advanced security software that can protect sensitive data transmitted over cellular networks. Moreover, with the advent of 5G technology, the software segment is expected to see significant growth in the coming years. 5G networks offer higher bandwidth and lower latency, enabling more advanced applications and services, which will require advanced software to support them.

By type of network, the market is segmented into 3G, 4G, 5G LTE-M and others. Among these, LTE-M, a low-power wide-area (LPWA) cellular technology, is gaining popularity in the cellular IoT market due to its low power consumption, long battery life, and ability to support a large number of devices. It is particularly well-suited for IoT applications that require low bandwidth and low data rates, such as smart meters, asset tracking, and remote monitoring. LTE-M is expected to drive significant growth in the coming years, with each technology offering unique advantages for different IoT applications. For instance, Vodafone launches Italy's first LTE-M network.

On the basis of end-users, the market is segmented into retail, energy, healthcare, manufacturing and others. Among these, energy segment is experiencing significant growth as more industries adopt IoT technologies to improve energy efficiency and reduce their environmental impact. Moreover, The increasing demand for energy-efficient solutions, growing adoption of renewable energy sources, and government initiatives promoting smart grid infrastructure are some of the key factors driving the growth of the energy segment in the cellular IoT market. The integration of cellular IoT with other technologies such as AI and machine learning is also expected to drive innovation and open up new opportunities in this space.

For a better understanding of the market adoption of the cellular iot industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, UK, , France, Italy, Spain , Rest of Europe), Asia-Pacific (China, Japan, India, Korea, and Rest of Asia-Pacific), Rest of World. North America is experiencing steady growth due to the increasing adoption of IoT technologies across various industries. The United States is the largest market for cellular IoT in North America, accounting for a significant share of the overall market. The growth of the cellular IoT market in the US can be attributed to factors such as the increasing adoption of smart home and building automation systems, rising demand for connected devices in industries such as healthcare and automotive, and government initiatives promoting the deployment of smart city infrastructure.

Some of the major players operating in the market include: Qualcomm Technologies, Inc.; Thales; Sierra Wireless. ; Telit; Texas Instruments Incorporated; ZTE Corporation; Crunchbase Inc. ; SEQUANS. ; Huawei Technologies Co., Ltd.