Cellular IoT Market by Type (2G, 3G, 4G), Component (Hardware, Services, Software), Application, End-User - Global Forecast 2024-2030
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.
Market Insights
- 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
- Component: Increasing utilization of software solutions for the deployment of cellular IoT solutions
- Application: Significant application of cellular IoT in fleet management
- End-User: Extensive applications of cellular IoT solutions in the automotive and transportation sector
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
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- 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.
Quectel Expands Its IoT Antenna Portfolio with Six New 4G and 5G Antennas
Quectel introduced six new antennas for Cellular IoT, aiming to deliver reliable connectivity performance. The YC0001CA is a 4G SMD antenna specifically designed for LTE, LTE-M, and NB-IoT networks. With dimensions of 35.0 x 8.5 x 3.0mm, it is compliant with RoHS and REACH standards. For 5G NR Sub-6GHz frequency bands, the YC0018CA is an ideal choice. The other antennas are also reliable and secure choices for different cellular networks.
Telit Cinterion Collaborates with WaterSignal to Provide a Stable Connection for Water Monitoring
Telit Cinterion partnered with WaterSignal to ensure seamless connectivity for real-time water monitoring and leak detection systems. This collaboration allowed teams to gain deeper insights into the efficiency of their towers and systems. WaterSignal offers non-invasive solutions that can be easily attached to existing water meters without disruption, reducing costs and eliminating the need for additional city approval. WaterSignal relies on Telit Cinterion's cellular LPWA modules and IoT connectivity solutions to ensure uninterrupted data transfer during power outages. These solutions are chosen for their high-quality modules and network services. By leveraging cellular data connectivity instead of relying on Wi-Fi, WaterSignal can provide a stable connection for customers, even in deep vaults or locations far away from buildings with Wi-Fi coverage. This reliable and dependable connection ensures that water data is always accessible, allowing for efficient monitoring and management of water resources.
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, 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 Communications, 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.
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
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Market Drivers
- 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 Telefónica 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
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook