Worldwide and U.S. IoT Cellular Connections Forecast, 2024–2028
This IDC study analyzes the Internet of Things cellular connections market in the United States and worldwide from 2024 to 2028. For technology suppliers, the study advises focusing on end-to-end security, meeting the increasing demand for global connectivity, supporting a range of complementary IoT network options, prioritizing customer service, and partnering for success. These recommendations are crucial for capitalizing on the expected growth in IoT cellular connections. The study also discusses drivers and inhibitors impacting the market, including the intersection between private mobile networks (PMNs) and IoT deployments, advancements in eSIM-enabled IoT devices, and the introduction of 5G RedCap technology. It notes the challenges posed by limited urgency for 5G features in IoT and the macroeconomic environment. "By 2028, IoT cellular connections are set to revolutionize connectivity, with 5G RedCap contributing to growth and opportunities in the IoT landscape," says Pahul Preet Singh, senior research analyst, Mobile and IoT Communications Services at IDC.
Please Note: Extended description available upon request.
IDC Market Forecast Figure
Executive Summary
Advice for Technology Suppliers
Market Forecast
Market Context
Drivers and Inhibitors
Drivers
Increasing Intersection between Private Mobile Networks and IoT Deployments
Advancements in eSIM-Enabled IoT Devices
The Introduction of 5G RedCap to Propel Growth in IoT Cellular Connections
Inhibitors
Limited Near-Term Urgency for 5G Features in IoT
Macroeconomic Environment
Significant Market Developments
Growing Global Connectivity Needs Among Enterprises
The Emergence of 5G RedCap
Continued Transition from Phasing 2G/3G Networks to LTE/4G and LPWANs