Market Definition
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.
Market Outlook
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.
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.
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.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Market Segmentation
The global cellular IoT market is segmented by type, component, industry vertical, 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 the rest of the World.
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Major 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, and U–Blox Holding AG
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape- Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
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