Cellular IoT Market by Type (2G, 3G, 4G), Component, Application, End-User

List of Tables

[199 Pages Report] The Cellular IoT Market size was estimated at USD 5.83 billion in 2023 and expected to reach USD 6.95 billion in 2024, at a CAGR 19.92% to reach USD 20.81 billion by 2030.

The Cellular IoT market encompasses products, services, and solutions that facilitate large-scale device connectivity over cellular networks. Cellular IoT technology facilitates low-power, long-range applications across various industries, such as smart cities, agriculture, healthcare, logistics, and energy management, enhancing these sectors' capabilities by enabling efficient data collection, analysis, and decision-making. Adoption of low-power wide-area (LPWA) technologies such as Narrowband-IoT (NB-IoT) or Long Range (LoRa) and advancements in machine learning algorithms for improved sensor data analysis along with government investments in smart city infrastructure are supporting the application of cellular IoT. However, high deployment costs in remote areas, data privacy and security concerns, and non-standardized communication protocols leading to interoperability issues among systems are hindering the market's growth. The development of energy-efficient connectivity solutions and investments in AI-powered advanced data analytics platforms for processing vast sensor data is expected to create an opportunistic landscape for the market.

KEY MARKET STATISTICS
Base Year [2023]	USD 5.83 billion
Estimated Year [2024]	USD 6.95 billion
Forecast Year [2030]	USD 20.81 billion
CAGR (%)	19.92%

Type: Burgeoning adoption of 5G due to enhanced connection density

2G offers low data rates and limited coverage, and it is ideal for basic applications such as remote monitoring and asset tracking. 3G provides more reliable connectivity than 2G with faster data rates but lacks the high-speed capabilities necessary for demanding IoT applications. Its primary use cases involve remote monitoring systems and fleet management solutions requiring moderate data throughput levels. The fourth generation of mobile telecommunications technology provides significantly improved bandwidth and low latency compared to previous generations. 5G is the latest cellular technology, offering incredibly low latency, enhanced reliability, and massive connection density. This technology enables critical IoT applications such as autonomous vehicles, connected healthcare, and industrial automation to thrive. LTE-M (Long-Term Evolution for Machines) is an extension of 4G explicitly designed for IoT devices requiring longer battery life and extended coverage at lower costs than traditional LTE networks. NB-IoT (Narrowband IoT) offers ultra-low power consumption and deep penetration into buildings or underground structures with minimal bandwidth requirements. NB-LTE-M combines features from LTE-M and NB-IoT technologies to create a cost-effective solution that supports a broad range of IoT use cases requiring reliable connectivity, low data rates, and extended battery life.

Component: Increasing utilization of software solutions for the deployment of cellular IoT solutions

In hardware, modules contain all necessary processing units and radiofrequency (RF) capabilities to connect to a cellular network. Gateways & routers are the equipment that facilitates communication between IoT devices by acting as an intermediary between device endpoints and backend systems. Chipsets are integrated circuits responsible for executing tasks within IoT devices utilizing minimal power consumption. In software, connectivity management platforms are tools designed to streamline device management, provisioning, billing, and other essential aspects of maintaining IoT connections. Data analytics & processing enable real-time analysis of collected data, deriving insights valuable for business decision-making processes. Security solutions are focused on enhancing cybersecurity for cellular-connected devices by detecting threats or vulnerabilities promptly. Application development platforms support developers in designing custom applications for specific IoT use cases or industries.

Application: Significant application of cellular IoT in fleet management

Connected vehicles enable real-time communication between vehicles, infrastructure, and other devices through cellular IoT technology. This enhances safety, efficiency, and the overall driving experience. Cellular IoT has become increasingly popular in drone applications due to its extensive network coverage and high data transmission capabilities. Drones utilizing this technology have the potential to cover vast areas for surveillance, package delivery, or agricultural monitoring efficiently. Fleet management systems leverage cellular IoT technologies to provide real-time tracking of vehicles' locations, monitor fuel consumption patterns, manage driver performance data, and optimize fleet maintenance schedules. Smart grid automation involves using cellular IoT-enabled devices to monitor electricity distribution networks' performance parameters remotely, accurately, and securely. Smart metering consists of interconnected devices for real-time monitoring and managing electricity, water, and gas consumption data. Cellular IoT enables secure and reliable communication between these devices and utilities' back-end systems. Cellular IoT is instrumental in traffic safety and control applications by enabling real-time data exchange between infrastructure components such as traffic lights or road signs with vehicles on the road. This helps prevent accidents and enhances traffic flow efficiency. Cellular IoT offers low-latency, high-speed connectivity in the virtual reality (VR) and augmented reality (AR) applications required for immersive experiences involving real-world environments or remote collaboration scenarios.

End-User: Extensive applications of cellular IoT solutions in the automotive and transportation sector

Cellular IoT is employed for precision farming, livestock monitoring, and smart greenhouse applications in the agriculture sector. The automotive industry leverages cellular IoT for vehicle tracking, fleet management, predictive maintenance, and intelligent traffic systems. Cellular IoT is significant in consumer electronics such as wearables, home automation systems, or personal trackers. The key preference is seamless connectivity to enhance user experience and device convenience. Furthermore, in the energy domain, cellular IoT supports applications such as smart grids to monitor power transmission distribution for effective consumption management, automated meter reading systems for accurate billing, and remote asset monitoring solutions for preventive maintenance activities within oil & gas industries serving preferences of cost reduction, efficiency, and sustainability. Cellular IoT is utilized in environmental monitoring to detect air pollutants or water quality parameters for improved public health outcomes and sustainable resource management. The healthcare sector deploys cellular IoT for remote patient monitoring, telemedicine services, and asset tracking within hospitals, catering to preferences of personalized care delivery, cost savings, and optimized workflows. The retail industry leverages cellular IoT for inventory management, customer engagement, supply chain optimization, and fulfilling preferences, including reducing stock-outs, enhancing overall customer experience, and improving logistical efficiencies.

Regional Insights

The cellular IoT market showcases strong growth in the Americas region owing to a significant focus on research and investment in IoT technologies and various initiatives such as smart cities projects, driving local governments to adopt cellular connectivity for urban infrastructure management. Major economies in the EU region have been at the forefront of implementing IoT solutions across various verticals. The European Commission's Horizon 2020 program allocated significant funding toward research and innovation in IoT applications. This has led to numerous advancements in connected vehicles, smart agriculture, and energy management systems. The MEA region depicts an opportunistic landscape for cellular IoT adoption owing to the ever-growing need for improved connectivity across industries such as oil & gas production or management and smart water resource management systems. Market growth in the APAC region can be attributed to increasing investments in smart cities. Efforts from private enterprises and governments toward improving road safety through intelligent transportation systems have accelerated cellular IoT adoption for traffic control applications. The emergence of Industry 4.0 encourages manufacturers across APAC countries to invest in cellular IoT devices to streamline their operations, increase productivity, and reduce costs.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Cellular IoT Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Cellular IoT Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Cellular IoT Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, Aeris Communications, Inc., Amazon Web Services, Inc., AT&T Inc., China Telecom Corporation Limited, China Unicom Limited, Google LLC by Alphabet Inc., Huawei Technologies Co., Ltd., Jio Platforms Limited by Reliance Industries Limited, Kiddi Corporation, MediaTek, Inc., Microchip Technology Inc., Microsoft Corporation, NEC Corporation, Nippon Telegraph and Telephone Corporation, Nokia Corporation, Nordic Semiconductor ASA, NXP Semiconductors N.V., Onomondo ApS, Orange Group, Particle Industries, Inc., Proximus PLC, Qualcomm Incorporated, Quectel Wireless Solutions Co., Ltd., Renesas Electronics Corporation, Rogers Communications, Sequans Communications S.A., Sierra Wireless, Inc. by Semtech Corporation, SK Telecom Co., Ltd., STMicroelectronics N.V., Tata Communications Limited, Telefonaktiebolaget LM Ericsson, Telefonica, S.A., Telekom Deutschland GmbH, Telia Company AB, Telit Communications, Telstra Group Limited, Telus Corporation, Texas Instruments Incorporated, U-blox AG, Verizon Communications Inc., Vodafone Group PLC, Wurth Elektronik eiSos GmbH & Co. KG, Zipit Wireless, Inc, and ZTE Corporation.

Market Segmentation & Coverage

This research report categorizes the Cellular IoT Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- 2G
- 3G
- 4G
- 5G
- LTE-M
- NB-IoT
- NB-LTE-M

Component
- Hardware
- Services
- Software

Application
- Connected Vehicle
- Drones or UAV
- Fleet Management
- Smart Grid Automation
- Smart Metering
- Surveillance & Monitoring
- Traffic Safety & Control
- VR/AR

End-User
- Agriculture
- Automotive & Transportation
- Construction & Building Infrastructure
- Consumer Electronics
- Energy
- Environmental Monitoring
- Healthcare
- Retail

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Cellular IoT Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Cellular IoT Market?

3. What are the technology trends and regulatory frameworks in the Cellular IoT Market?

4. What is the market share of the leading vendors in the Cellular IoT Market?

5. Which modes and strategic moves are suitable for entering the Cellular IoT Market?

Product Code: MRR-433AB1DC28E2

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing demand for connected devices and extended network coverage area
  - 5.1.1.2. Rising use of cellular IoT networks to improve homeland security with surveillance
  - 5.1.1.3. Expanding the number of smart cities, smart factories, and smart hospitals across the world
- 5.1.2. Restraints
  - 5.1.2.1. High cost of IoT infrastructure and limited scalability and flexibility in current network architectures
- 5.1.3. Opportunities
  - 5.1.3.1. Emergence of advanced and more efficient cellular IoT solutions
  - 5.1.3.2. Supportive government initiatives and investments in network infrastructure
- 5.1.4. Challenges
  - 5.1.4.1. Data privacy and cybersecurity issues
5.2. Market Segmentation Analysis
- 5.2.1. Type: Burgeoning adoption of 5G due to enhanced connection density
- 5.2.2. Component: Increasing utilization of software solutions for the deployment of cellular IoT solutions
- 5.2.3. Application: Significant application of cellular IoT in fleet management
- 5.2.4. End-User: Extensive applications of cellular IoT solutions in the automotive and transportation sector
5.3. Market Trend Analysis
- 5.3.1. Supportive government policies and strong presence of key players contributing to improved adoption of cellular IoT solutions in Americas
- 5.3.2. Strong industry 4.0 and smart city expansion plans in APAC backed by investment in 5G networks for large deployment of cellular IoT in the region
- 5.3.3. Venturing telecom sector strides toward connected IoT deployment across industries in EMEA
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework Analysis

6. Cellular IoT Market, by Type

6.1. Introduction
6.2. 2G
6.3. 3G
6.4. 4G
6.5. 5G
6.6. LTE-M
6.7. NB-IoT
6.8. NB-LTE-M

7. Cellular IoT Market, by Component

7.1. Introduction
7.2. Hardware
7.3. Services
7.4. Software

8. Cellular IoT Market, by Application

8.1. Introduction
8.2. Connected Vehicle
8.3. Drones or UAV
8.4. Fleet Management
8.5. Smart Grid Automation
8.6. Smart Metering
8.7. Surveillance & Monitoring
8.8. Traffic Safety & Control
8.9. VR/AR

9. Cellular IoT Market, by End-User

9.1. Introduction
9.2. Agriculture
9.3. Automotive & Transportation
9.4. Construction & Building Infrastructure
9.5. Consumer Electronics
9.6. Energy
9.7. Environmental Monitoring
9.8. Healthcare
9.9. Retail

10. Americas Cellular IoT Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Cellular IoT Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Cellular IoT Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. O2 Telefonica Hands Transatel MVNO Deal in Germany, Targeting Automotive and Industrial IoT
- 13.3.2. Quectel Expands Its IoT Antenna Portfolio with Six New 4G and 5G Antennas
- 13.3.3. Telit Cinterion Collaborates with WaterSignal to Provide a Stable Connection for Water Monitoring
- 13.3.4. SoftBank Corp. to Expand its Global IoT Business in Asia-Pacific Region
- 13.3.5. Huawei Joins the Sisvel Cellular IoT Patent Pool
- 13.3.6. FloLive Connects with USD 47 Million to Give its IoT and Localized Cellular Technology a Boost
- 13.3.7. Nokia and NTT Partner on 5G Private Wireless in Thailand
- 13.3.8. STMicroelectronics Achieves Vodafone NB-IoT certification for Location-Aware Cellular IoT Modules
- 13.3.9. Renesas to Acquire Cellular IoT Technology Provider Sequans Through Tender Offer
- 13.3.10. Verizon and Telenor IoT are Partnering to Expand Global IoT Services
- 13.3.11. Cavli Wireless Secure USD 10 Million Series A Funding for IoT Expansion and Talent Development
- 13.3.12. Unabiz, Soracom to Expand Global IoT Connectivity Portfolio with Cellular Connectivity Services
- 13.3.13. Eseye Announces New Agreement With Orange to Enhance Global IoT Connectivity Offering
- 13.3.14. Aeris Announces Closing of the Acquisition of Ericsson's IoT Accelerator and Connected Vehicle Cloud Businesses
- 13.3.15. Semtech and TTI to Launch Hybrid LoRaWAN and Cellular IoT Solutions
- 13.3.16. Semtech Corporation Completes Acquisition of Sierra Wireless

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio