Cellular IoT Market Trends, Size and Share Analysis 2027

Cellular IoT Market to 2027 - Global Analysis and Forecasts by Technology (2G & 3G, 4G, LTE-M, NB-IoT, and 5G); End-Use Industry (Industrial, Infrastructure & Construction, Retail, Consumer Electronics, Automotive & Transportation, Energy & Utilities, Healthcare, and Others)

Publication Month : Feb 2020

  • Report Code : TIPRE00003104
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 150
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The cellular IoT market was valued at US$ 2,946.3 million in 2018 and is projected to reach US$ 18,280.7 million by 2027; it is expected to grow at a CAGR of 22.6% from 2019 to 2027.

Factors such as increasing levels of disposable income, availability of affordable smartphones, and internet plans with low tariff is leading to the rapid adoption of smartphones and other consumer electronics around the world, which is driving the growth of “connected things” or IoT. In addition to this, the increasing number of IoT use cases in smart homes, smart cities, smart transportation, and smart buildings is further driving the demand for IoT connected devices. Ericsson Mobility Report (2019) estimated the rise in overall number of IoT connections worldwide from 10.8 billion in 2019 to 24.9 billion in 2025 at CAGR of 15%. These connections include wide area IoT connections, Cellular IoT connections, and short-range IoT connections. The investments in IoT start-ups and supporting market ecosystem are also fuelling the research and development of IoT technology. The major technology companies in the US, China, and Europe are playing important role in the development of IoT solutions. Google, Microsoft, Cisco, Amazon, GE, Qualcomm, Intel, and Samsung have also invested a considerable amount in the similar activities. For the successful deployment of IoT across industries, there is a growing demand for robust connectivity technologies. Hence, such increasing investments in communication technologies such as 5G, NB-IoT, and LTE-M at an unprecedented pace are driving the Cellular IoT market growth globally.

Lucrative Regions for Cellular IoT Market

Lucrative Regions for Cellular IoT Market
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Market Insights

Growing applications of IoT in automotive sector

Automotive is the fastest-growing sector in terms of the implementation of IoT, especially in applications such as in-vehicle infotainment, predictive maintenance, security, data analytics, dashboard reporting, and real-time monitoring. Increasing disposable incomes and rising middle class population are the major factors driving the sales of passenger cars in emerging markets of the world. According to Organisation Internationale des Constructeurs d’Automobiles (OICA) estimates, the global passenger car registrations reached 68,690,468 worldwide in 2018. Moreover, the production of passenger cars worldwide reached 70,567,581 units in the last quarter of 2018. Such high level of competition in the global automotive sector is propelling the companies operating this space to adopt advanced technologies such as IoT and AI. Audi, BMW, General Motors, Mercedes-Benz, and Jaguar-Land Rover are a few of the major automakers offering advanced infotainment systems integrated with various technologies into their cars. The demand for connected vehicles and rising investments in autonomous vehicles are further boosting the adoption of IoT and efficient communication technologies, such as 4G and 5G. Automotive systems wherein IoT is implemented include logistics management, fleet management, telematics, sensor sharing, advanced driver assistance systems, infotainment, and autonomous driving. Thus, the expansion of application of IoT in such systems, along with continuous technological advancements, in the automotive sector is fueling the Cellular IoT market growth.

Technology Market Insights

The cellular IoT market is bifurcated on basis of technology into 2G & 3G, 4G, LTE-M, NB-IoT, and 5G. With growing number of mobile subscriptions and increasing demand for highly efficient networks that can handle rising data traffic, network operators are continuously focusing on innovating and improving communication technologies. The fast replacement of older 2G networks with 3G/4G, increasing 5G testing across the world, and advanced NB-IoT & LTE-M technologies are among the factors that are anticipated to drive the cellular IoT market in the coming years.

Cellular IoT Market, by Technology– 2018 and 2027

Cellular IoT Market, by Technology– 2018 and 2027
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End Use Industry Market Insight

The cellular IoT market is bifurcated on basis of end use industry into industrial, infrastructure & construction, retail, consumer electronics, automotive & transportation, energy & utilities, healthcare, and others. The other industries include finance, education, hospitality, and agriculture. The others category varies across regions/countries on the basis of major industries present in those specific regions/countries.

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Cellular IoT Market: Strategic Insights

global-cellular-iot-market
Market Size Value inUS$ 2,946.3 Million in 2018
Market Size Value byUS$ 18,280.7 Million by 2027
Growth rateCAGR of 22.6% from 2019-2027
Forecast Period2019-2027
Base Year2019
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The players operating in the enterprise content management market focus on strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

  • In January 2020, Ericsson and VodafoneZiggo introduced an all-new 5G co-creation environment in the Netherlands. The 5G HUB consists of training facilities, testing laboratories, and a demo studio with IoT and 5G capabilities. The hub would cater to startups, companies, and students a chance to unleash 5G in practice.
  • In August 2018, Arm acquired Treasure Data to set the stage for IoT transformation. The new Arm Pelion IoT Platform will enable organizations to quickly, securely and sustainably create actionable insights from IoT, enterprise and third-party data. 

Global Cellular IoT Market Segments:

Cellular IoT Market – By Technology

  • 2G & 3G
  • 4G
  • LTE-M
  • NB-IoT
  • 5G

Cellular IoT Market – By End-Use Industry

  • Industrial
  • Infrastructure & Construction
  • Retail
  • Consumer Electronics
  • Automotive & Transportation
  • Energy & Utilities
  • Healthcare

Cellular IoT Market – By Geography

  • North America

    • U.S.
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • Spain
    • UK
    • Rest of Europe
  • Asia Pacific (APAC)

    • Australia
    • China
    • India
    • Japan
    • Rest of APAC
  • Middle East & Africa (MEA)

    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA
  • South America (SAM)

    • Brazil
    • Rest of SAM

Companies

  • AT&T INC
  • ARM Holdings Plc
  • Telefonaktiebolaget LM Ericsson
  • Huawei Technologies Co., Ltd.
  • MediaTek Inc.
  • Qualcomm Incorporated
  • Sierra Wireless, Inc.
  • Sequans Communications SA
  • Thales Group
  • ZTE Corporation
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Technology ; End-Use Industry

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What are reasons behind the growth of cellular IoT in Asia Pacific?

Rapid technology developments, government initiatives, digitalization of economy, and rising disposable income of the middle-income class group are some of the factors that are driving the demand of connected devices in Asia Pacific countries. Positive developments in the cellular IoT ecosystem including network operators, device manufacturers, and IoT solution providers are further fuelling the growth.

What are market opportunities for cellular IoT?

The rising investments in 5G by network operators and continuous advancements in communications technologies are the major factors that are enabling the adoption of advanced technologies such as artificial intelligence, AR/VR, IoT, and blockchain. Therefore, due to the commercialization of 5G connectivity globally, the cellular IoT market is projected to grow at an impressive rate.

Which end use industry hold the largest share in cellular IoT market in 2018?

Consumer electronics industry dominated the cellular IoT market in 2018. The demand for consumer devices such as smartphones, laptops, tablets, smart watches, and other products is increasing at an impressive pace globally, owing to factors such as rising disposable incomes, changing lifestyles, and growing young tech savvy young population.

The List of Companies - Cellular IoT Market

  1. Arm Holdings Plc
  2. AT&T, Inc.
  3. Ericsson
  4. Huawei Technologies Co., Ltd.
  5. Mediatek Inc.
  6. Qualcomm Incorporated
  7. Sierra Wireless, Inc.
  8. Sequans Communications SA
  9. Thales group
  10. ZTE Corporation

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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