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Cellular IoT Market

Market Study on Cellular IoT: North America to Continue Market Dominance During 2023 to 2033

Cellular IoT Market by Component (Cellular IoT Hardware, Cellular IoT Software and Services)

Cellular IoT Market Outlook (2023 to 2033)

As of 2022, demand for the Cellular IoT Market is estimated at US$ 4,201.7 million and is forecasted to sales of US$ 31,749.4 million by the end of 2033. The market is estimated to be US$ 4,987.4 million by 2023 and is anticipated to progress at a CAGR of 20.3% from 2023 to 2033.

Cellular IoT is used to connect a wide range of physical objects and devices to the internet. This technology enables machines and devices to connect with each other and with central servers, enabling them to exchange data and perform various functions autonomously.

Cellular IoT devices often use low-power, low-cost cellular technologies such as Narrowband IoT (NB-IoT) or LTE-M (Long-Term Evolution for Machines) to transmit data over cellular networks, making them ideal for applications that require long battery life and low bandwidth, such as remote monitoring, asset tracking, and smart agriculture.

Cellular IoT has the potential to transform industries by enabling more efficient and intelligent systems and creating new business models and revenue streams.

The widespread adoption of cellular IoT technology is being driven by a variety of factors, including the increasing demand for connected devices and the need for more efficient and intelligent systems. Cellular IoT offers numerous opportunities for businesses and organizations, including the ability to remotely monitor and control devices, gather and analyze data in real-time, and improve operational efficiency.

In 2022, the market was dominated with North America with a market share of 26.5% and it was followed by the market share of Europe of 22.7%.

Cellular IoT Market Size (2022)

US$ 4,201.7 Million

Projected Market Value (2033)

US$ 31,749.4 Million

Global Market Growth Rate (2023 to 2033)

20.3%

Software Market Share (2022)

65.3%

Japan Market Share (2022)

18.4%

NB-IoT Market Growth Rate (2023 to 2033)

23.2%

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What are the Major Factor Anticipating the growth of Cellular IoT Market?

“Rise in IoT for Connected Devices & Need for Real Time Data Communication”

The rise of the Internet of Things (IoT), more and more devices are being connected to the internet, creating a massive network of interconnected devices. Cellular IoT provides a reliable and secure means of connecting these devices, allowing them to communicate with each other and with the cloud.

Cellular networks provide reliable connectivity and extensive coverage, making them an ideal choice for IoT devices that require continuous data exchange with minimal latency. Real-time data communication allows IoT devices to react instantly to changes in their environment, improving their efficiency and enabling more advanced applications such as predictive maintenance and remote monitoring.

  • In February 2021, Fibocom had announced a strategic partnership with Deutsche Telekom, the leading integrated telecommunications company in market and Red tea, an innovative connectivity solutions provider, to deliver best-in-class commercial-ready nuSIM IoT modules.
  • In January 2021, Quectel launched RM500Q-AE, RM505Q-AE, and RM502Q-AE three 5G modules expected at fast-moving up the deployment of IoT devices. The frequency bands globally in 5G, multi-constellation GNSS capabilities, multi-gigabit data rates, PCIe 3.0, USB 3.0/3.1, and eSIM interfaces.
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What is Boosting the Cellular IoT Market in US?

“Rising Adoption of Smart Homes and Smart Cities Drives Cellular IoT in United States”

The adoption of smart homes and smart cities is rising in the cellular IoT market in the United States. The increasing demand for smart homes, which are equipped with connected devices that can be controlled remotely through smartphones or voice assistants, is driving the growth of cellular IoT in the consumer segment.

Smart homes can offer several benefits, such as increased comfort, convenience, and energy efficiency. For instance, connected thermostats can automatically adjust the temperature based on occupancy and weather conditions, while smart lighting can be programmed to turn on and off based on user preferences and motion detection.

The rising adoption of smart homes and smart cities is driving the demand for cellular IoT devices and networks, which provide reliable and secure connectivity for a wide range of IoT applications. Cellular IoT networks offer several advantages over other wireless technologies, such as wider coverage, better security, and higher reliability.

Due to these reasons, in 2022, the United States cellular IoT market helped the country to account for a dominant share of 15.8% in the global marketplace.

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Why Japan is Fuelling the Growth in Cellular IoT market?

“Government’s push Towards Digitalization and the Use of IoT in Various Industries”

Japanese government's push towards digitalization and the use of IoT in various industries. The government has launched initiatives such as the "Society 5.0" program, which aims to leverage IoT, artificial intelligence, and other advanced technologies to create a smarter and more sustainable society.

Furthermore, Japanese companies are actively investing in IoT and developing innovative solutions for various industries. For instance, Hitachi has developed an IoT platform that enables the remote monitoring and management of industrial equipment, while Softbank has launched an IoT network that can connect various devices and sensors.

Overall, Japan's strong focus on technology and innovation, coupled with the government's support for IoT adoption, is fueling the growth of the cellular IoT market in the country.

The CAGR of Japan for cellular IoT market is predicted to be around 18.4%.

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In Europe, Germany is Creating Opportunity in Cellular IoT Market?

“Advancement in Industry 4.0 technologies such as automation, artificial intelligence, and machine learning in Germany”

Germany is a leading player in the development and adoption of Industry 4.0 technologies, which are driving the growth of cellular IoT in the country. Automation, artificial intelligence, and machine learning are among the key technologies that are being leveraged to enhance the efficiency and productivity of various industries.

In the manufacturing sector, for instance, automation is being used to streamline production processes and reduce costs. Robots and other automated systems are being deployed to perform tasks such as assembly, welding, and quality control, thereby improving speed, accuracy, and consistency.

In artificial intelligence and machine learning are being used to optimize various processes and make better decisions based on data. For example, predictive maintenance systems use machine learning algorithms to predict when equipment is likely to fail, allowing maintenance to be scheduled in advance and reducing downtime.

Overall, Germany's focus on innovation and its strong industrial base are driving the development and adoption of Industry 4.0 technologies, which are fuelling the growth of cellular IoT in the country. Due to this reason, the cellular IoT market for the Germany in 2022 held a market share of 10.1% in the global cellular IoT market.

Category-wise Insights

In Component, why Software segment holds largest market share in cellular IoT market?

“Increasing adoption of Cloud-based IoT Platforms, the Growing Demand for Data Analytics and Security Solutions”

The software segment holds the largest market share in the cellular IoT market, driven by the increasing adoption of cloud-based IoT platforms and the growing demand for data analytics and security solutions.

Cloud-based IoT platforms provide a comprehensive suite of tools and services for managing IoT devices, data, and applications. These platforms offer several advantages over traditional on premise solutions, such as scalability, flexibility, and lower costs. Cloud-based IoT platforms can also help organizations to manage their IoT deployments more efficiently by providing real-time monitoring, predictive analytics, and automated workflows.

Furthermore, data analytics is becoming increasingly important in the cellular IoT market, as organizations look to extract insights from the massive amounts of data generated by IoT devices. Data analytics solutions can help organizations to identify trends, optimize processes, and improve decision-making, leading to increased efficiency and profitability.

Finally, security is a critical concern in the cellular IoT market, as IoT devices and networks are vulnerable to cyber-attacks. Software solutions such as encryption, authentication, and access control are essential for protecting IoT devices and data from unauthorized access and malicious attacks.

Overall, the software segment is expected to continue to hold the largest market share in the cellular IoT market, driven by the increasing adoption of cloud-based IoT platforms, the growing demand for data analytics and security solutions, and the need for more efficient IoT device management.

In 2022 the software share was estimated to dominate the global market and account for 65.3% of the total market value share.

Why the Adoption of NB-IoT segment is growing more in cellular IoT market?

“High Storage Capabilities of Cellular IoT in NB IoT”

NB-IoT, or Narrowband Internet of Things, is a low-power, wide-area network (LPWAN) technology that is specifically designed for IoT applications. It offers several advantages over other cellular technologies, such as lower power consumption, wider coverage, and better indoor penetration.

One of the key factors driving the growth of NB-IoT is the increasing demand for IoT devices and solutions that can operate on low power and have long battery life. NB-IoT offers a low-power solution that can operate for several years on a single battery, making it ideal for applications such as smart meters and asset tracking.

Furthermore, the wider coverage and better indoor penetration of NB-IoT make it suitable for applications that require connectivity in hard-to-reach areas, such as basements and underground parking lots. This is particularly important in smart cities, where NB-IoT can be used to connect various devices and sensors for applications such as parking management, waste management, and environmental monitoring.

In 2022, it was estimated that the NB IoT segment will account with a CAGR of more than 23.2% over the forecast period.

Competitive Landscape

Major cellular IoT companies are focusing on the development of their products for various verticals such as healthcare, transport and smart cities. They try to cover numerous countries with their IoT connectivity solutions, and provide the eSIM technology for providing cellular IoT services and solutions.

  • In February 2021, Two 5G chips had launched by Qualcomm Technologies Inc. The company is aiming to cover a wide range of applications, including new industrial IoT services & capabilities. According to the manufacturer, 3GPP Release 16 features was mainly supported by the Snapdragon X65 is used for radiofrequency front end system.
  • In January 2021, Thales, a cellular IoT connectivity partner of Sequans Communications SA for many years, revealed that its new generation of Cinter Cat 1 modules will be built on the second-generation Monarch 2 and Calliope 2 platforms. First-generation large IoT modem technology from Sequans was included by Thales into their Cinterion IoT modules, which were distributed globally.

Recent developments related to key players providing the cellular IoT market have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report

Cellular IoT Market Report Scope

Attribute

Details

Forecast Period

2023 to 2033

Historical Data Available for

2018 to 2022

Market Analysis

US$ Million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • United Kingdom
  • France
  • Spain
  • Italy
  • China
  • Japan
  • South Korea
  • India
  • Indonesia
  • Malaysia
  • Singapore
  • Australia
  • New Zealand
  • Turkey
  • South Africa
  • GCC Countries

Key Market Segments Covered

  • Component
  • Cellular Technology
  • End User
  • Region

Key Companies Profiled

  • Sierra Wireless
  • Qualcomm Technologies, Inc.
  • Sequans Communications S.A.
  • ZTE Corporation
  • Gemalto NV
  • u-blox
  • Telit Communications PLC
  • Ericsson AB
  • ARM Limited
  • Huawei Technologies Co., Ltd.
  • Mediatek Inc.
  • Vodafone Group plc
  • Texas Instruments Incorporated
  • Others.

Pricing

Available upon Request

Key Segments of Cellular IoT Market Research

By Component:

  • Cellular IoT Hardware
  • Cellular IoT Software
  • Services

By Cellular Technology:

  • 3G
  • 4G
  • LTE-M
  • NB-IoT
  • 5G
  • Others

By End User:

  • Agriculture
  • Healthcare
  • Retail
  • Energy
  • Automotive and Transportation
  • Infrastructure
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

- Companies Covered in This Report -

  • Sierra Wireless
  • Qualcomm Technologies Inc
  • Sequans Communications S.A.
  • ZTE Corporation
  • Gemalto NV
  • u-blox
  • Telit Communications PLC
  • Ericsson AB
  • ARM Limited
  • Huawei Technologies Co., Ltd.
  • Mediatek Inc.
  • Vodafone Group plc
  • Texas Instruments Incorporated
  • Others.

- Frequently Asked Questions -

In 2022, demand for the cellular IoT market amounted to US$ 4,201.7 million.

The global cellular IoT market is estimated to grow at a CAGR of 20.3% over the forecast period.

The market for cellular IoT market is forecasted to have a market value of US$ 31,749.4 million by 2033.

Demand for the cellular IoT market in Japan is projected to rise at 18.4% CAGR over the forecast period.

In 2022, North America cellular IoT market held a dominant market share of 26.5%.

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