According to the latest report by IMARC Group, titled “Cellular IoT Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global cellular IoT market reached a value of US$ 3.56 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 11.95 Billion by 2027, exhibiting at a CAGR of 21.8% during 2022-2027. Cellular Internet of Things (IoT) refers to a technological solution used for connecting telecommunication devices and mechanical equipment to the internet. It is widely used for cloud-based robotics, remote plant monitoring and telematics. Cellular IoT utilizes advanced technologies, such as 2G, 3G, 4G, 5G and low power wide area (LPWA) for enhanced connectivity. It supports both low and high bandwidths and provides global coverage, network switching, remote management and private network to the users. It finds extensive application across various industries, such as consumer electronics, healthcare, retail, agriculture, automotive and transportation
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Cellular IoT Market Trends:
The global cellular Internet of Things (IoT) market is primarily being driven by its increasing demand in the automotive industry. Automotive manufacturers are widely adopting cellular IoT to facilitate vehicle-to-vehicle and in-vehicle communication for safe and reliable road transportation. Moreover, the widespread adoption of Narrowband Internet of Things (NB-IoT) that can be integrated with the existing mobile networks to provide enhanced end-to-end security and improve the power consumption of the devices is providing a thrust to the market growth. Other factors, including significant growth in the telecommunication industry, along with extensive infrastructural developments, are anticipated to drive the market toward growth.
Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Arm Limited
- Commsolid GmbH (Goodix Technology (HK) Company Limited)
- MediaTek Inc.
- Qualcomm Incorporated
- Sequans Communications
- Sierra Wireless
- Telefonaktiebolaget LM Ericsson
- Telit, Texas Instruments Incorporated
- Thales Group
- U-Blox Holding AG and ZTE Corporation
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Breakup by Component:
- Device Management
- Signal Processing
Breakup by Type:
Breakup by End Use:
- Automotive and Transportation
- Consumer Electronics
- Environment Monitoring
- Smart Cities
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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