Cellular IoT

Global Cellular IoT Market to Reach US$44.3 Billion by 2030

The global market for Cellular IoT estimated at US$12.5 Billion in the year 2024, is expected to reach US$44.3 Billion by 2030, growing at a CAGR of 23.6% over the analysis period 2024-2030. Hardware, one of the segments analyzed in the report, is expected to record a 23.1% CAGR and reach US$26.8 Billion by the end of the analysis period. Growth in the Software segment is estimated at 24.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$3.6 Billion While China is Forecast to Grow at 22.8% CAGR

The Cellular IoT market in the U.S. is estimated at US$3.6 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.8 Billion by the year 2030 trailing a CAGR of 22.8% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 20.7% and 19.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 16.1% CAGR.

Global Cellular IoT Market – Key Trends & Drivers Summarized

What Is Cellular IoT, and Why Is It Crucial for the Growth of IoT Solutions?

Cellular IoT (Internet of Things) refers to the use of cellular networks for connecting IoT devices, enabling seamless communication and data transfer across vast geographic areas. Leveraging the infrastructure of 4G LTE, 5G, and even legacy 2G and 3G networks, Cellular IoT is critical for applications that require reliable, long-range communication, such as smart cities, industrial automation, asset tracking, and healthcare. Unlike short-range IoT solutions, which rely on technologies like Wi-Fi and Bluetooth, Cellular IoT can cover wide areas, making it an ideal solution for applications in remote or large-scale deployments. The increasing demand for connected devices in various industries, from manufacturing to agriculture, is driving the need for Cellular IoT solutions. Its ability to deliver high data throughput, low latency, and massive device connectivity, particularly with the advent of 5G, makes Cellular IoT a foundational technology for advanced applications such as autonomous vehicles, smart grids, and remote healthcare. The global push toward digitization and automation is making Cellular IoT indispensable for modern industrial and consumer ecosystems.

How Are Technological Advancements Shaping the Cellular IoT Market?

Technological advancements, particularly in 5G and Narrowband IoT (NB-IoT), are significantly enhancing the capabilities of Cellular IoT solutions. 5G networks offer ultra-low latency and high bandwidth, enabling real-time communication and data processing for IoT applications that require high reliability, such as autonomous driving and industrial robotics. The widespread rollout of 5G is expected to drive rapid adoption of Cellular IoT, as it provides the necessary infrastructure for massive IoT deployments, where thousands of devices need to be connected simultaneously. Another key advancement is the development of low-power wide-area (LPWA) technologies like NB-IoT and LTE-M, which are designed to support IoT devices that require low energy consumption and can operate for years on battery power. These technologies allow for cost-effective IoT deployments in applications such as smart meters, environmental monitoring, and agriculture, where devices are distributed over wide areas and require long operational lifetimes. The continued evolution of these technologies is broadening the range of industries and use cases that can benefit from Cellular IoT, making it a versatile solution for both high-performance and low-power applications.

What Market and Consumer Trends Are Driving Demand for Cellular IoT?

Several market trends are fueling the growing demand for Cellular IoT, particularly the increasing adoption of smart devices, industrial automation, and the rise of smart cities. As consumers and businesses continue to embrace connected technologies, the need for reliable, long-range communication networks is becoming more pronounced. For example, the automotive industry is seeing a surge in the adoption of connected cars, which rely on Cellular IoT for real-time navigation, vehicle-to-infrastructure communication, and remote diagnostics. The expansion of smart city initiatives, which depend on IoT for applications like traffic management, waste collection, and public safety, is also driving demand for Cellular IoT networks that can support large-scale deployments. In industrial settings, the shift toward Industry 4.0, which involves the digitization of manufacturing and logistics operations, is another key driver of Cellular IoT adoption. Industries are increasingly utilizing IoT to optimize production processes, monitor equipment in real time, and manage supply chains more efficiently. The rise of remote healthcare and telemedicine, which require reliable data transmission over cellular networks, is further contributing to the market`s growth, especially as healthcare providers expand their use of connected medical devices and wearables.

Growth in the Cellular IoT Market Is Driven by Several Factors

Growth in the Cellular IoT market is driven by several factors, including the rapid expansion of 5G networks, advancements in LPWA technologies, and the increasing adoption of IoT in industries such as automotive, healthcare, and manufacturing. One of the key drivers is the widespread rollout of 5G, which provides the high-speed, low-latency communication needed for advanced IoT applications like autonomous vehicles and smart manufacturing. As 5G infrastructure expands globally, the ability to connect a massive number of devices simultaneously is unlocking new possibilities for IoT innovation. Another significant driver is the growing demand for low-power IoT devices that can operate over wide areas with minimal energy consumption. Technologies such as NB-IoT and LTE-M are enabling industries like agriculture, utilities, and logistics to deploy cost-effective IoT solutions that provide long-term monitoring and management without the need for frequent maintenance. Consumer behavior is also driving growth, particularly in areas like connected homes and wearables, where Cellular IoT ensures reliable device connectivity and real-time data transmission. The global shift toward automation, efficiency, and real-time data-driven decision-making across industries will continue to drive the adoption of Cellular IoT solutions in the coming years.

SCOPE OF STUDY:

The report analyzes the Cellular IoT market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Component (Hardware, Software, Services); Application (Energy & Utilities, Automotive & Transportation, Consumer Electronics, Healthcare, Environmental Monitoring, Building Automation, Other Applications)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Select Competitors (Total 34 Featured) -

• Arm Holdings Plc
• AT&T, Inc.
• Commsolid GmbH
• Ericsson
• Gemalto NV
• Huawei Technologies Co., Ltd.
• Mediatek Inc.
• Mistbase Communication System
• Qualcomm Incorporated
• Sequans Communication
• Sierra Wireless
• Telit Communications PLC
• Texas Instruments
• Thales Group
• U–Blox Holding AG
• ZTE Corporation

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

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APRIL 2025: NEGOTIATION PHASE

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JULY 2025 FINAL TARIFF RESET

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