Global Cellular IoT Market report from Global Insight Services is the single authoritative source of intelligence on Cellular IoT Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Cellular IoT is a technology that enables the communication between devices and cellular networks. It allows devices to connect to the internet using cellular data networks, instead of using Wi-Fi or other wired connections. Cellular IoT can be used for a variety of applications, including connecting devices to the internet of things, monitoring and controlling devices remotely, and tracking location.
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Key Trends
The key trends in Cellular IoT technology are:
- Increased adoption of LTE-M and NB-IoT: LTE-M (Long Term Evolution for Machines) and NB-IoT (NarrowBand Internet of Things) are two low-power wide-area (LPWA) technologies that are being increasingly adopted for IoT applications. LTE-M is a higher-power version of NB-IoT and offers higher data rates and lower latency. NB-IoT is a lower-power version of LTE-M and is suitable for applications that require long battery life and low data rates.
- eSIMs (embedded SIMs) are becoming increasingly popular in IoT devices as they offer a more flexible and convenient way to connect to cellular networks. eSIMs are embedded into the device and can be remotely activated and deactivated, making it easy to change service providers or plan types.
- LoRa and Sigfox: LoRa (long-range) and Sigfox are two competing LPWA technologies that are being used for IoT applications. LoRa offers a longer range and higher data rates than Sigfox, but Sigfox has a simpler network architecture and is, therefore, easier to deploy.
Key Drivers
The rise in number of IoT devices is anticipated to lead to the growth of the market. For instance, the number of IoT devices grew by nearly 25.6% from 2017 to 2020. This rapid growth is driving the need for cellular IoT, as it provides a wide coverage area and higher data rates than other technologies such as Wi-Fi and Bluetooth. In addition, the increasing number of IoT devices is generating large amounts of data, which need to be transmitted efficiently.
Further, cellular IoT devices need to be low power consumption to extend the battery life. This is a key driver for the adoption of cellular IoT, as it consumes less power than other technologies such as Wi-Fi and Bluetooth. Moreover, various governments are investing in the development of cellular IoT infrastructure. This is expected to drive the growth of the cellular IoT market.
Smart city projects are being implemented in various countries to improve the quality of life of citizens. These projects use various technologies, including cellular IoT, to achieve their objectives. For example, the Smart Dubai initiative uses cellular IoT to connect various devices and systems in the city, such as traffic lights and parking meters. This is expected to drive the growth of the cellular IoT market.
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Restraints & Challenges
The key restraints and challenges in Cellular IoT market include the high cost of infrastructure, interoperability issues, and data security concerns.
The high cost of infrastructure is a major challenge for the adoption of cellular IoT technology. The deployment of cellular IoT requires the deployment of new base stations and network upgrades, which can be costly for service providers.
Interoperability issues are another challenge facing the cellular IoT market. Cellular IoT technologies are based on different standards and protocols, which can make it difficult for devices from different manufacturers to communicate with each other.
Data security is also a concern for the cellular IoT market. Cellular IoT devices can generate a large amount of data, which can be susceptible to interception and hacking. Service providers and enterprises need to implement security measures to protect data transmitted via cellular IoT devices.
Key Market Segments
The global Cellular IoT market is segmented by type, component, application, and geography. By type, it is classified into 3G, 4G, 5G, and others. Based on component, the market is bifurcated into hardware and software & services. By industry vertical, it is segmented into healthcare, retail, energy, manufacturing, smart city, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and rest of the World.
Key Players
The key players operating in the global Cellular IoT market report are Commsolid GmbH, Gemalto NV, Mediatek Inc., Mistbase Communication System, Qualcomm Incorporated, Sequans Communication, Sierra Wireless, Telit Communications PLC, Texas Instruments, U–Blox Holding AG, and ZTE Corporation.
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