Cellular IoT Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Cellular IoT Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032



Growth Factors of Cellular IoT Market

The Cellular IoT market size was valued at USD 4.40 billion in 2023, and the market is now projected to grow from USD 5.27 billion in 2024 to USD 22.95 billion by 2032, exhibiting a CAGR of 23.4% during the forecast period of 2024-2032.

A positive impact was witnessed by the pandemic on the cellular IoT market growth, provoking outstanding shifts in selection patterns and advertise needs. As lockdowns and travel confinements disturbed conventional commerce operations, there was a quickened acknowledgment of the significance of IoT arrangements in different businesses. This driven to an expanded request for such IoT applications, especially in segments such as healthcare, smart cities, and retail, where IoT arrangements played a significant part in guaranteeing progression and productivity amid challenging times.

The merging of the cellular IoT with edge computing speaks to a transformative move in information handling standards, empowering real-time investigation and decision-making at the arrange edge. This integration is especially impactful because it adjusts with the developing slant of enormous IoT systems, where a large number of interconnected gadgets create tremendous sums of information.

The speeding up of 5G organize organizations is complicatedly entwined with the burgeoning request for associated vehicles and telematics inside the market. It tackles the progressed capabilities of 5G, characterized by higher information speeds and lower idleness, to improve the proficiency and responsiveness of telematics arrangements. The integration into associated vehicles moreover encourages strong following and real-time over the air (OTA) upgrades empowered by 5G systems.

Comprehensive Analysis of Cellular IoT Market

The web of cellular IoT market on the basis of network is diverged into LTE-M, 2G/3G, NB-IoT, 4G and 5G. The most prevailing 4G network is playing a domineer in the cellular IoT market. On the application analysis, the market is classified into critical IoT, broadband IoT, Industrial Automation and massive IoT. The most crucial segment is characterized as broadband IoT. Every market has an end-user and thus the end-user analysis of cellular IoT is fragmented into industrial, commercial/enterprise and individual. The enterprise and commercial segment offer the most utilization of the cellular IoT market.

Asia Pacific with a most characterizing valuation of USD 2.29 billion makes the cellular IoT market share the most dominant one in the global market. China has been at the cutting edge of 5G framework improvement, contributing altogether to its authority within the advertise. The country's fast sending of 5G systems has encouraged improved capabilities for IoT applications, empowering speedier and more dependable network, pivotal for a few IoT utilize cases over businesses.

AT&T Corporation (U.S.), Qualcomm Incorporated (U.S.), Huawei Technologies Co., Ltd. (China), Nokia Corporation (Finland), Sierra Wireless (Canada), Zhongxing New Telecommunications Equipment Co., Ltd. (China), Telit Communications (Thales Group) (U.K.), Telefonaktiebolaget LM Ericsson (Sweden) are the major industry players are essentially reinforcing their bolster for IoT arrangements utilizing adherent and 5G systems, pointing to quicken selection rates. This concerted exertion includes growing foundation, improving arrange scope, and optimizing innovation to suit different IoT applications.

In January 2024, the company Nordic Semiconductor propelled its IoT improvements and displayed showings of low control Wi-Fi, LE Audio, Matter, and control administration at CES 2024 in Norway. The shown items include essential IoT innovations such as cellular IoT (LTE-M and NB-IoT), low-power Wi-Fi, Matter, DECT NR+, and Bluetooth Low Energy (Bluetooth LE), stamping the company's noteworthy commitment to the IoT scene at CES.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2017-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2017-2021

Growth Rate CAGR of 23.4% from 2023 to 2030

Unit Value (USD Billion)

Segmentation By Network

2G/3G

4G

LTE-M

5G

NB-IoT

By Application

Broadband IoT

Massive IoT

Industrial Automation

Critical IoT

By Connection

Wi-Fi

Broadband

Satellite

Cable

Others

By End-user

Individual

Commercial/Enterprise

Industrial

Retail

Healthcare

Manufacturing

Consumer Goods

Automotive

ICT

Others (Energy and Power)

By Region

North America (By Network, Application, Connection, End-user and Country)

U.S. (By Connection)

Canada (By Connection)

Mexico (By Connection)

South America (By Network, Application, Connection, End-user and Country)

Brazil (By Connection)

Argentina (By Connection)

Rest of South America

Europe (By Network, Application, Connection, End-user and Country)

U.K. (By Connection)

Germany (By Connection)

France (By Connection)

Italy (By Connection)

Spain (By Connection)

Russia (By Connection)

Benelux (By Connection)

Nordics (By Connection)

Rest of Europe

Middle East & Africa (By Network, Application, Connection, End-user and Country)

Turkey (By Connection)

Israel (By Connection)

GCC (By Connection)

North Africa (By Connection)

South Africa (By Connection)

Rest of the Middle East & Africa

Asia Pacific (By Network, Application, Connection, End-user and Country)

China (By Connection)

India (By Connection)

Japan (By Connection)

South Korea (By Connection)

ASEAN (By Connection)

Oceania (By Connection)

Rest of Asia Pacific

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1. Introduction
1.1. Definition, By Segment
1.2. Research Methodology/Approach
1.3. Data Sources
2. Executive Summary
3. Market Dynamics
3.1. Macro and Micro Economic Indicators
3.2. Drivers, Restraints, Opportunities and Trends
3.3. Impact of COVID-19
4. Competition Landscape
4.1. Business Strategies Adopted by Key Players
4.2. Consolidated SWOT Analysis of Key Players
4.3. Global Cellular IoT Key Players Market Share Insights and Analysis, 2022
5. Global Cellular IoT Market Size Estimates and Forecasts, By Segments, 2017 – 2030
5.1. Key Findings
5.2. By Network (USD)
5.2.1. 2G/3G
5.2.2. 4G
5.2.3. LTE-M
5.2.4. 5G
5.2.5. NB-IoT
5.3. By Application (USD)
5.3.1. Broadband IoT
5.3.2. Massive IoT
5.3.3. Industrial Automation
5.3.4. Critical IoT
5.4. By Connection (USD)
5.4.1. Wi-Fi
5.4.2. Broadband
5.4.3. Satellite
5.4.4. Cable
5.4.5. Others
5.5. By End User (USD)
5.5.1. Individual
5.5.2. Commercial/Enterprise
5.5.3. Industrial
5.5.3.1. Retail
5.5.3.2. Healthcare
5.5.3.3. Manufacturing
5.5.3.4. Consumer Goods
5.5.3.5. Automotive
5.5.3.6. ICT
5.5.3.7. Others (Energy and Power, etc.)
5.6. By Region (USD)
5.6.1. North America
5.6.2. South America
5.6.3. Europe
5.6.4. Middle East & Africa
5.6.5. Asia Pacific
6. North America Cellular IoT Market Size Estimates and Forecasts, By Segments, 2017 – 2030
6.1. Key Findings
6.2. By Network (USD)
6.2.1. 2G/3G
6.2.2. 4G
6.2.3. LTE-M
6.2.4. 5G
6.2.5. NB-IoT
6.3. By Application (USD)
6.3.1. Broadband IoT
6.3.2. Massive IoT
6.3.3. Industrial Automation
6.3.4. Critical IoT
6.4. By Connection (USD)
6.4.1. Wi-Fi
6.4.2. Broadband
6.4.3. Satellite
6.4.4. Cable
6.4.5. Others
6.5. By End User (USD)
6.5.1. Individual
6.5.2. Commercial/Enterprise
6.5.3. Industrial
6.5.3.1. Retail
6.5.3.2. Healthcare
6.5.3.3. Manufacturing
6.5.3.4. Consumer Goods
6.5.3.5. Automotive
6.5.3.6. ICT
6.5.3.7. Others (Energy and Power, etc.)
6.6. By Country (USD)
6.6.1. U.S.
6.6.1.1. By Connection
6.6.2. Canada
6.6.2.1. By Connection
6.6.3. Mexico
6.6.3.1. By Connection
7. South America Cellular IoT Market Size Estimates and Forecasts, By Segments, 2017 – 2030
7.1. Key Findings
7.2. By Network (USD)
7.2.1. 2G/3G
7.2.2. 4G
7.2.3. LTE-M
7.2.4. 5G
7.2.5. NB-IoT
7.3. By Application (USD)
7.3.1. Broadband IoT
7.3.2. Massive IoT
7.3.3. Industrial Automation
7.3.4. Critical IoT
7.4. By Connection (USD)
7.4.1. Wi-Fi
7.4.2. Broadband
7.4.3. Satellite
7.4.4. Cable
7.4.5. Others
7.5. By End User (USD)
7.5.1. Individual
7.5.2. Commercial/Enterprise
7.5.3. Industrial
7.5.3.1. Retail
7.5.3.2. Healthcare
7.5.3.3. Manufacturing
7.5.3.4. Consumer Goods
7.5.3.5. Automotive
7.5.3.6. ICT
7.5.3.7. Others (Energy and Power, etc.)
7.6. By Country (USD)
7.6.1. Brazil
7.6.1.1. By Connection
7.6.2. Argentina
7.6.2.1. By Connection
7.6.3. Rest of South America
8. Europe Cellular IoT Market Size Estimates and Forecasts, By Segments, 2017 – 2030
8.1. Key Findings
8.2. By Network (USD)
8.2.1. 2G/3G
8.2.2. 4G
8.2.3. LTE-M
8.2.4. 5G
8.2.5. NB-IoT
8.3. By Application (USD)
8.3.1. Broadband IoT
8.3.2. Massive IoT
8.3.3. Industrial Automation
8.3.4. Critical IoT
8.4. By Connection (USD)
8.4.1. Wi-Fi
8.4.2. Broadband
8.4.3. Satellite
8.4.4. Cable
8.4.5. Others
8.5. By End User (USD)
8.5.1. Individual
8.5.2. Commercial/Enterprise
8.5.3. Industrial
8.5.3.1. Retail
8.5.3.2. Healthcare
8.5.3.3. Manufacturing
8.5.3.4. Consumer Goods
8.5.3.5. Automotive
8.5.3.6. ICT
8.5.3.7. Others (Energy and Power, etc.)
8.6. By Country (USD)
8.6.1. U.K.
8.6.1.1. By Connection
8.6.2. Germany
8.6.2.1. By Connection
8.6.3. France
8.6.3.1. By Connection
8.6.4. Italy
8.6.4.1. By Connection
8.6.5. Spain
8.6.5.1. By Connection
8.6.6. Russia
8.6.6.1. By Connection
8.6.7. Benelux
8.6.7.1. By Connection
8.6.8. Nordics
8.6.8.1. By Connection
8.6.9. Rest of Europe
9. Middle East & Africa Cellular IoT Market Size Estimates and Forecasts, By Segments, 2017 – 2030
9.1. Key Findings
9.2. By Network (USD)
9.2.1. 2G/3G
9.2.2. 4G
9.2.3. LTE-M
9.2.4. 5G
9.2.5. NB-IoT
9.3. By Application (USD)
9.3.1. Broadband IoT
9.3.2. Massive IoT
9.3.3. Industrial Automation
9.3.4. Critical IoT
9.4. By Connection (USD)
9.4.1. Wi-Fi
9.4.2. Broadband
9.4.3. Satellite
9.4.4. Cable
9.4.5. Others
9.5. By End User (USD)
9.5.1. Individual
9.5.2. Commercial/Enterprise
9.5.3. Industrial
9.5.3.1. Retail
9.5.3.2. Healthcare
9.5.3.3. Manufacturing
9.5.3.4. Consumer Goods
9.5.3.5. Automotive
9.5.3.6. ICT
9.5.3.7. Others (Energy and Power, etc.)
9.6. By Country (USD)
9.6.1. Turkey
9.6.1.1. By Connection
9.6.2. Israel
9.6.2.1. By Connection
9.6.3. GCC
9.6.3.1. By Connection
9.6.4. North Africa
9.6.4.1. By Connection
9.6.5. South Africa
9.6.5.1. By Connection
9.6.6. Rest of Middle East & Africa
10. Asia Pacific Cellular IoT Market Size Estimates and Forecasts, By Segments, 2017 – 2030
10.1. Key Findings
10.2. By Network (USD)
10.2.1. 2G/3G
10.2.2. 4G
10.2.3. LTE-M
10.2.4. 5G
10.2.5. NB-IoT
10.3. By Application (USD)
10.3.1. Broadband IoT
10.3.2. Massive IoT
10.3.3. Industrial Automation
10.3.4. Critical IoT
10.4. By Connection (USD)
10.4.1. Wi-Fi
10.4.2. Broadband
10.4.3. Satellite
10.4.4. Cable
10.4.5. Others
10.5. By End User (USD)
10.5.1. Individual
10.5.2. Commercial/Enterprise
10.5.3. Industrial
10.5.3.1. Retail
10.5.3.2. Healthcare
10.5.3.3. Manufacturing
10.5.3.4. Consumer Goods
10.5.3.5. Automotive
10.5.3.6. ICT
10.5.3.7. Others (Energy and Power, etc.)
10.6. By Country (USD)
10.6.1. China
10.6.1.1. By Connection
10.6.2. Japan
10.6.2.1. By Connection
10.6.3. India
10.6.3.1. By Connection
10.6.4. South Korea
10.6.4.1. By Connection
10.6.5. ASEAN
10.6.5.1. By Connection
10.6.6. Oceania
10.6.6.1. By Connection
10.6.7. Rest of Asia Pacific
11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
11.1. Qualcomm Incorporated
11.1.1. Overview
11.1.1.1. Key Management
11.1.1.2. Headquarters
11.1.1.3. Offerings/Business Segments
11.1.2. Key Details (Key details are consolidated data and not product/service specific)
11.1.2.1. Employee Size
11.1.2.2. Past and Current Revenue
11.1.2.3. Geographical Share
11.1.2.4. Business Segment Share
11.1.2.5. Recent Developments
11.2. Sierra Wireless
11.2.1. Overview
11.2.1.1. Key Management
11.2.1.2. Headquarters
11.2.1.3. Offerings/Business Segments
11.2.2. Key Details (Key details are consolidated data and not product/service specific)
11.2.2.1. Employee Size
11.2.2.2. Past and Current Revenue
11.2.2.3. Geographical Share
11.2.2.4. Business Segment Share
11.2.2.5. Recent Developments
11.3. Telit Communications (Thales Group)
11.3.1. Overview
11.3.1.1. Key Management
11.3.1.2. Headquarters
11.3.1.3. Offerings/Business Segments
11.3.2. Key Details (Key details are consolidated data and not product/service specific)
11.3.2.1. Employee Size
11.3.2.2. Past and Current Revenue
11.3.2.3. Geographical Share
11.3.2.4. Business Segment Share
11.3.2.5. Recent Developments
11.4. Nordic Semiconductor ASA
11.4.1. Overview
11.4.1.1. Key Management
11.4.1.2. Headquarters
11.4.1.3. Offerings/Business Segments
11.4.2. Key Details (Key details are consolidated data and not product/service specific)
11.4.2.1. Employee Size
11.4.2.2. Past and Current Revenue
11.4.2.3. Geographical Share
11.4.2.4. Business Segment Share
11.4.2.5. Recent Developments
11.5. AT&T Corporation
11.5.1. Overview
11.5.1.1. Key Management
11.5.1.2. Headquarters
11.5.1.3. Offerings/Business Segments
11.5.2. Key Details (Key details are consolidated data and not product/service specific)
11.5.2.1. Employee Size
11.5.2.2. Past and Current Revenue
11.5.2.3. Geographical Share
11.5.2.4. Business Segment Share
11.5.2.5. Recent Developments
11.6. Nokia Corporation
11.6.1. Overview
11.6.1.1. Key Management
11.6.1.2. Headquarters
11.6.1.3. Offerings/Business Segments
11.6.2. Key Details (Key details are consolidated data and not product/service specific)
11.6.2.1. Employee Size
11.6.2.2. Past and Current Revenue
11.6.2.3. Geographical Share
11.6.2.4. Business Segment Share
11.6.2.5. Recent Developments
11.7. Telefonaktiebolaget LM Ericsson
11.7.1. Overview
11.7.1.1. Key Management
11.7.1.2. Headquarters
11.7.1.3. Offerings/Business Segments
11.7.2. Key Details (Key details are consolidated data and not product/service specific)
11.7.2.1. Employee Size
11.7.2.2. Past and Current Revenue
11.7.2.3. Geographical Share
11.7.2.4. Business Segment Share
11.7.2.5. Recent Developments
11.8. Huawei Technologies Co., Ltd.
11.8.1. Overview
11.8.1.1. Key Management
11.8.1.2. Headquarters
11.8.1.3. Offerings/Business Segments
11.8.2. Key Details (Key details are consolidated data and not product/service specific)
11.8.2.1. Employee Size
11.8.2.2. Past and Current Revenue
11.8.2.3. Geographical Share
11.8.2.4. Business Segment Share
11.8.2.5. Recent Developments
11.9. Zhongxing New Telecommunications Equipment Co., Ltd.
11.9.1. Overview
11.9.1.1. Key Management
11.9.1.2. Headquarters
11.9.1.3. Offerings/Business Segments
11.9.2. Key Details (Key details are consolidated data and not product/service specific)
11.9.2.1. Employee Size
11.9.2.2. Past and Current Revenue
11.9.2.3. Geographical Share
11.9.2.4. Business Segment Share
11.9.2.5. Recent Developments
11.10. China Mobile Communications Group Co., Ltd.
11.10.1. Overview
11.10.1.1. Key Management
11.10.1.2. Headquarters
11.10.1.3. Offerings/Business Segments
11.10.2. Key Details (Key details are consolidated data and not product/service specific)
11.10.2.1. Employee Size
11.10.2.2. Past and Current Revenue
11.10.2.3. Geographical Share
11.10.2.4. Business Segment Share
11.10.2.5. Recent Developments
12. Key Takeaways

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