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“Need for low-power consumption and low cost of deployment is expected to drive the cellular IoT market”
The cellular IoT market is expected to grow from USD 1.26 billion in 2015 to USD 5.31 billion by 2022, at a CAGR of 23.34% during the forecast period. Rising demand for extended network coverage and capacity to accommodate large number of connected devices are expected to drive the market for cellular IoT. However, technology fragmentation and lack of regulation for spectrum allocation is expected to rescript the growth of this market.
“Growing demand for long-range connectivity and low power consumption drives the growth of NB-IoT in cellular IoT market”
The demand for long-range communications owing to the increase in demand for connectivity between mobile objects or objects spread out across a wide area drives the growth of NB-IoT market. Moreover, NB-IoT offers low power utilization and extended coverage in comparison to existing technologies such as LoRa and SigFox and is therefore expected to be widely adopted by several industries.
“Smart meters and smart grids are expected to drive cellular IoT market in energy industry”
Cellular technologies are now being deployed in smart meter and smart grid for point-to-point communication with individual meters. Moreover, when utility companies opt for cellular communications, they can rely on the mobile operator to provide the network instead of bearing the cost of deploying, operating, and maintaining the entire communications infrastructure themselves. By outsourcing it to mobile operators, companies can reduce both installation costs and implementation time for their smart metering projects.
“Cellular IoT market in Asia-Pacific to grow at a high rate”
Countries such as China, Japan, South Korea, and India are investing heavily for the implementation of IoT in infrastructure which is expected to drive the cellular IoT market in Asia-Pacific. In APAC, many projects are in the initial phase of designing with implementation of some ongoing projects. There are still many projects to be initialized during the forecast period which offers tremendous growth opportunities for the smart solution vendors.
The breakup of the profile of primary participants has been given below:
- By Companies: Tier 1 – 20 %, Tier 2 – 35%, and Tier 3 – 45%
- By Designation: C-level Executives – 25%, Directors – 35%, and Others – 40%
- By Region: North America – 50%, Europe – 30%, Asia-Pacific – 10%, and RoW – 10%
This report provides valuable insights into ecosystem of this market including chipset manufacturer, and device manufacturer companies. The major players in the cellular-IoT market are Qualcomm Inc. (U.S.), Gemalto N.V. (Netherlands), Sierra Wireless (Canada), U-Blox Holding AG (Switzerland), MediaTek Inc. (Taiwan), Telit Communications PLC (U.K.), ZTE Corporation (China), Mistbase (Sweden), Sequans Communications (France) and CommSolid GmbH (Germany).
The cellular IoT market has been segmented on the basis of offering, type, end-use application, and geography. The market based on offering has been further segmented into hardware, software. The market based on type includes 2G, 3G, 4G, LTE–M, NB–LTE–M, NB–IoT, and 5G. The cellular IoT market based on end-use application are agriculture, environmental monitoring, and healthcare, building automation, automotive and transportation, and many others. On the basis of geography, the market has been segmented into North America, Europe, Asia-Pacific and Rest of the World.
Reasons To Buy the Report:
The report would help the market leaders/new entrants in this market in the following ways:
- This report segments the cellular IoT market comprehensively and provides the closest approximations of the market sizes for the overall market and sub-segments across the different applications and regions.
- The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.