Global LTE IoT Market to Reach $21.5 Billion by 2030
The global market for LTE IoT estimated at US$8.5 Billion in the year 2023, is expected to reach US$21.5 Billion by 2030, growing at a CAGR of 14.1% over the period 2023-2030. NB-IoT Technology, one of the segments analyzed in the report, is expected to record 15.1% CAGR and reach US$14.1 Billion by the end of the analysis period. Growth in the LTE-M Technology segment is estimated at 12.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.7 Billion, While China is Forecast to Grow at 13.1% CAGR
The LTE IoT market in the U.S. is estimated at US$2.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.6 Billion by the year 2030 trailing a CAGR of 13.1% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12.4% and 11% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 7.7% CAGR.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook