Cellular IoT
Cellular IoT Market by Type (2G, 3G, 4G), Component (Hardware, Services, Software), Application, End-User - Global Forecast 2024-2030
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[196 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.

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.

Cellular IoT Market
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Market Dynamics

The market dynamics represent an ever-changing landscape of the Cellular IoT Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

  • Market Drivers
    • Growing demand for connected devices and extended network coverage area
    • Rising use of cellular IoT networks to improve homeland security with surveillance
    • Expanding the number of smart cities, smart factories, and smart hospitals across the world
  • Market Restraints
    • High cost of IoT infrastructure and limited scalability and flexibility in current network architectures
  • Market Opportunities
    • Emergence of advanced and more efficient cellular IoT solutions
    • Supportive government initiatives and investments in network infrastructure
  • Market Challenges
    • Data privacy and cybersecurity issues
Market Segmentation Analysis
  • 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.

Market Disruption Analysis

The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Cellular IoT Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Cellular IoT Market.

Porter’s Five Forces Analysis

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Cellular IoT Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

Value Chain & Critical Path Analysis

The value chain of the Cellular IoT Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.

Pricing Analysis

The pricing analysis comprehensively evaluates how a product or service is priced within the Cellular IoT Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Cellular IoT Market.

Technology Analysis

The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Cellular IoT Market.

Patent Analysis

The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Cellular IoT Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.

Trade Analysis

The trade analysis of the Cellular IoT Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.

Regulatory Framework Analysis

The regulatory framework analysis for the Cellular IoT Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Cellular IoT Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment 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, namely 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 assessment of the current state of vendors in the Cellular IoT Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. 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 these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments
  • OQ Technology and Transatel Partner to Launch Global Satellite 5G IoT Connectivity

    OQ Technology and Transatel partnered to deliver global satellite 5G IoT connectivity. Transatel provides global 5G roaming, facilitating the deployment of Narrowband IoT (NB-IoT) solutions worldwide. This collaboration will enable businesses to access dependable IoT services in previously unreachable areas by developing a hybrid terrestrial and non-terrestrial network (NTN). This partnership aims to leverage common roaming capabilities on compatible devices and explore joint business opportunities and use cases. [Published On: 2024-05-06]

  • Nordic Semiconductor Showcases Cellular IoT Features and Demonstrates Low Power Wi-Fi, Matter, LE Audio, and Power Management at CES 2024

    Nordic Semiconductor showcased its comprehensive range of wireless IoT innovations at CES 2024. The company highlighted an update to its nRF91 Series cellular IoT solutions and displayed products covering essential IoT technologies such as cellular IoT (NB-IoT and LTE-M), DECT NR+, low-power Wi-Fi, Matter, and Bluetooth Low Energy (Bluetooth LE). [Published On: 2024-01-03]

  • O2 Telefónica Hands Transatel MVNO Deal in Germany, Targeting Automotive and Industrial IoT

    Transatel, an IoT MVNO-enabler owned by NTT, entered into a wholesale agreement with O2 Telefónica in Germany. This strategic partnership aims to provide IoT coverage and applications tailored to the automotive and industrial sectors. As part of the deal, Transatel gains access to O2 Telefonica's 5G network, enhancing its offerings for the medium term. [Published On: 2023-11-01]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Cellular IoT Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

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 Inc., Sequans Communications S.A., Sierra Wireless, Inc. by Semtech Corporation, SK Telecom Co., Ltd., STMicroelectronics N.V., Tata Communications Limited, Telefonaktiebolaget LM Ericsson, Telefónica, S.A., Telekom Deutschland GmbH, Telia Company AB, Telit Cinterion, Telstra Group Limited, Telus Corporation, Texas Instruments Incorporated, U-blox AG, Verizon Communications Inc., Vodafone Group PLC, Würth Elektronik eiSos GmbH & Co. KG, Zipit Wireless, Inc, and ZTE Corporation.

Cellular IoT Market - Global Forecast 2024-2030
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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

This research report offers invaluable insights into various crucial aspects of the Cellular IoT Market:

  1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
  2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
  3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
  4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
  5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

Additionally, the report addresses key questions to assist stakeholders in making informed decisions:

  1. What is the current market size and projected growth?
  2. Which products, segments, applications, and regions offer promising investment opportunities?
  3. What are the prevailing technology trends and regulatory frameworks?
  4. What is the market share and positioning of the leading vendors?
  5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Cellular IoT Market, by Type
  7. Cellular IoT Market, by Component
  8. Cellular IoT Market, by Application
  9. Cellular IoT Market, by End-User
  10. Americas Cellular IoT Market
  11. Asia-Pacific Cellular IoT Market
  12. Europe, Middle East & Africa Cellular IoT Market
  13. Competitive Landscape
  14. Competitive Portfolio
  15. List of Figures [Total: 24]
  16. List of Tables [Total: 404]
  17. List of Companies Mentioned [Total: 45]
Cellular IoT - Advanced Solutions to Change the Game
November 26, 2023
Cellular IoT - Advanced Solutions to Change the Game
The Internet of Things (IoT) has taken off tremendously and shows no signs of slowing down. IoT is transforming industries and business models, and the opportunities seem endless. With the rise of smart cities, autonomous vehicles, and an increased reliance on data, there has never been a better time to embrace IoT. Cellular IoT is one segment gaining momentum, and with the introduction of advanced and more efficient solutions, its applications are multiplying. This blog post explores the scope of Cellular IoT and how advanced solutions are changing the game.

Explosive Growth of Cellular IoT:

Cellular IoT technology provides low power, wide-area network coverage, and cellular connectivity that enables smart sensors and devices to transmit data securely and efficiently.

Emergence of Advanced and More Efficient Cellular IoT Solutions:

The evolution of Cellular IoT solutions is imperative for businesses and governments to leverage this technology effectively. The emergence of advanced solutions such as low-power, wide-area networks (LPWANs) - particularly Narrowband IoT (NB-IoT) and Long-Term Evolution for Machines (LTE-M) - are improving network coverage, data transmission reliability, and battery life for devices. This, in turn, is opening up more applications for cellular IoT in various industries. With 5G networks on the horizon, cellular IoT will become even more efficient with faster speeds, lower latency, and more connected devices.

Changing the Game Across Industries:

Cellular IoT solutions are being used to transform various industries, including healthcare, agriculture, automotive, and logistics. In healthcare, cellular IoT enables remote patient and elderly monitoring, location tracking of medical equipment, and tracking of drugs. In the agricultural sector, farmers are leveraging IoT devices for soil moisture and crop management, livestock tracking, and water conservation. In the automotive industry, connected cars are becoming increasingly popular, offering value-added services and features like real-time traffic updates, remote monitoring, and vehicle diagnostics. Similarly, e-commerce and logistics businesses use IoT devices to track inventory, monitor packages, and optimize the supply chain.

Security Concerns and the Need for Standards:

With the growth of cellular IoT, security concerns have become more prominent. IoT devices need to be secure to prevent cyberattacks or hacking threats. The availability of standards and certifications is crucial for ensuring the security of IoT devices and building trust in the ecosystem. The industry has responded by developing standards for IoT devices, such as the GSMA's IoT security guidelines, the Industrial Internet Consortium (IIC), and the IoT Security Foundation.

Cellular IoT is transforming the world as we know it. The emergence of advanced solutions expands the range of applications and use cases for cellular IoT, making it more feasible for businesses and industries to embrace the technology. With the explosive growth of the cellular IoT market, businesses must be proactive in exploring this technology and discovering how it can help them stay competitive. As we progress, standards and certifications will be critical to reinforce trust in the ecosystem, and security will become even more important. Embracing the power of Cellular IoT solutions and staying up-to-date with the latest advancements will be pivotal for businesses looking to build a connected future.

Frequently Asked Questions
  1. How big is the Cellular IoT Market?
    Ans. The Global Cellular IoT Market size was estimated at USD 5.83 billion in 2023 and expected to reach USD 6.95 billion in 2024.
  2. What is the Cellular IoT Market growth?
    Ans. The Global Cellular IoT Market to grow USD 20.81 billion by 2030, at a CAGR of 19.92%
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