Publication Month: Feb 2020 | Report Code: TIPRE00003104 | No. of Pages: 150 | Category: Technology, Media and Telecommunications | Status: Published
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.
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.
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.
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.
|Market Size Value in||US$ 2,946.3 Million in 2018|
|Market Size Value by||US$ 18,280.7 Million by 2027|
|Growth rate||CAGR of 22.6% from 2019-2027|
|No. of Pages||150|
|No. of Tables||56|
|No. of Charts & Figures||75|
|Historical data available||Yes|
|Segments covered||Technology ; End-Use Industry|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
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:
The List of Companies - Cellular IoT Market