The global demand for Cellular IoT Market is presumed to reach the market size of nearly USD 19.46 MN by 2028 from USD 3.9 MN in 2021 with a CAGR of 25.8% under the study period 2022 - 2028.
Cellular IoT solutions enable physical devices such as sensors, microcontrollers, and actuators to connect to a private network or the public network to transfer data. IoT devices are developed with built-in connectivity features, like smartphones, to enhance their availability, lower the cost of extra infrastructure, and enable long-distance communications. These IoT devices can include sensors, cellphones, scanners, and other things. Cellular IoT provides Low-Power, Wide-Area Network (LPWAN) applications. Cellular IoT benefits from the widespread accessibility of current cellular networks by utilizing the same infrastructure as smartphones but without the power requirements of conventional cellular applications. Cellular IoT is well-positioned to benefit from bandwidth solutions that are deployed to Wi-Fi or wired Ethernet.
The primary drivers anticipated propelling the growth of the global cellular IoT market include the increase in digitalization across industries in a variety of verticals, including manufacturing, automotive, and energy & utilities. One of the other reasons projected to augment the cellular IoT market is the increasing demand for extended network coverage, growth in company expansion beyond mobile broadband, and the requirement to support a sizable number of connected devices among enterprises globally. Moreover, the increasing deployment of cellular IoT modules in building automation verticals and smart city infrastructure is further flourishing the cellular IoT market.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of cellular iot. The growth and trends of cellular iot industry provide a holistic approach to this study.
This section of the cellular iot market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
- Environmental Monitoring
- Automotive & Transportation
This section covers the regional outlook, which accentuates current and future demand for the Cellular IoT market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Cellular IoT Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the cellular iot market include Qualcomm Inc., Sierra Wireless, ZTE Corporation, Gemalto NV, Commsolid GmbH, Mistbase Communication System, MediaTek Inc., Sequans Communications, Texas Instruments, and Telit Communications PLC, among Others. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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