Global Cellular IoT Market Size To Worth USD 45.64 Billion by 2033 | 22.21%
Category: Information & TechnologyGlobal Cellular IoT Market Size to Worth USD 45.64 Billion by 2033 | 22.21%
According to a research report published by Spherical Insights & Consulting, the Global Cellular IoT Market Size is expected to grow from USD 6.14 Billion in 2023 to USD 45.64 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 22.21% during projected period.
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Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Cellular IoT Market Size, Share, and COVID-19 Impact Analysis, By Component (Hardware, Software), By Type (2G, 3G, 4G, 5G, LTE-M, NB-LTE-M, NB-IoT), By End-User (Retail, Energy, Healthcare, Manufacturing, Consumer Electronics, Automotive & Transportation, Other), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033)." Get Detailed Report Description Here:https://www.sphericalinsights.com/reports/cellular-iot-market
Cellular Internet of Things (IoT) refers to the integration of telecommunications devices with the internet. It employs advanced technologies such as 3G, 4G, 5G, and Low Power Wide Area (LPWA) to establish dependable connections between a variety of hardware devices and sensors. It is widely used for asset, warehouse, and workforce management, remote plant monitoring, automation, cloud-based robotics, traffic management, and telematics in smartwatches and fitness bands. Also, the global cellular IoT market is expected to expand as various industries, such as manufacturing, automotive, energy, and utilities, digitize and automate more. In addition, a number of significant factors are expected to drive the cellular IoT market forward. Cellular IoT market players are expected to benefit from the growing use of IoT in the automotive sector, the commercialization of 5G, the emergence of narrowband Internet of Things (NB-IoT), and the long-term evolution of machines (LTE-M). However, some businesses, particularly smaller ones, may be hampered by the upfront costs of implementing cellular IoT solutions, which include hardware, connectivity, and infrastructure. Security is a major concern for the Internet of things.
The hardware segment is expected to grow at the fastest pace in the global cellular IoT market during the forecast period.
Based on components, the global cellular IoT market is divided into hardware and software. Among these, the hardware segment is expected to grow at the fastest pace in the global cellular IoT market during the forecast period. Chipsets and cellular IoT modules are the fundamental building blocks of the cellular Internet of Things ecosystem. The increased use of cellular IoT modules in wearables, connected healthcare devices, smart city infrastructure, and building automation projects is expected to boost global cellular IoT growth.
The 4G segment is expected to grow at the fastest pace in the global cellular IoT market during the forecast period.
Based on the service type, the global cellular IoT market is divided into 2G, 3G, 4G, 5G, LTE-M, NB-LTE-M, and NB-IoT. Among these, the 4G segment is expected to grow at the fastest pace in the global cellular IoT market during the forecast period. 4G offers low-cost modem options and certifications, and it has the most users worldwide. Even though standards and technologies for machine-to-machine and Internet of Things connections are rapidly evolving, they offer cutting-edge and efficient cellular services.
The energy segment is expected to hold the largest share of the global cellular IoT market during the forecast period.
Based on end users, the global cellular IoT market is divided into retail, energy, healthcare, manufacturing, consumer electronics, automotive & transportation, and others. Among them, the energy segment is expected to hold the largest share of the global cellular IoT market during the forecast period. Cellular technologies are expected to gain popularity in applications requiring large deployments and high-density endpoint connections. As an outcome, the energy, utility, and manufacturing industries will benefit the most.
Asia-Pacific is expected to hold the largest share of the global cellular IoT market over the forecast period.
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North America is expected to hold the largest share of the global cellular IoT market over the forecast period. China has been at the forefront of 5G infrastructure development, helping to cement its market leadership. The country's rapid deployment of 5G networks has improved capabilities for IoT applications, allowing for faster and more reliable connectivity, which is critical for a wide range of IoT use cases across industries. Japan and South Korea's advances in 5G technology adoption contribute to the region's market growth by offering cutting-edge connectivity solutions for cellular IoT deployments in manufacturing, smart cities, and healthcare.
Europe is predicted to grow at the fastest pace in the global cellular IoT market during the projected timeframe. The southwest contains major manufacturing hubs as well as the headquarters of major appliance companies, making it a center for washing machine production and distribution. This concentration of industry players results in greater product availability and competitive pricing in the region. Furthermore, the southwest region, which includes cities like Stuttgart and Karlsruhe, has a relatively higher population density than the rest of Germany.
Major vendors in the global cellular IoT market include CommSolid GmbH, SEQUANS, ZTE Corporation, Telit, MediaTek Inc., U-Blox, Sierra Wireless, Thales, Texas Instruments Incorporated, Qualcomm Technologies Inc, and Others.
Recent Developments
- In May 2022, Audi, the German luxury vehicle manufacturer, provided an update on its collaboration with mobility platform Spoke and other partners to use cellular vehicle-to-everything (C-V2X) technology to help prevent bicycle-car accidents. Audi also collaborated with C-V2X, which detects cyclists, school buses, and emergency vehicles and alerts drivers via LTE cellular signals and direct PC5 signals that do not require a cellular network.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Cellular IoT Market based on the below-mentioned segments:
Global Cellular IoT Market, Component Analysis
- Hardware
- Software
Global Cellular IoT Market, Type Analysis
- 2G
- 3G
- 4G
- 5G
- LTE-M
- NB-LTE-M
- NB-IoT
Global Cellular IoT Market, End-User Analysis
- Retail
- Energy
- Healthcare
- Manufacturing
- Consumer Electronics
- Automotive & Transportation
- Other
Global Cellular IoT Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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