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Cellular IoT Market

The global cellular IoT market size was valued at USD 3.9 billion in 2021. it is projected to reach USD 15.4 billion by 2027

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Cellular IoT Market

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  1. Cellular IoT Market Size, Share, Industry Trends, Growth Drivers Analysis 2030 The global cellular IoT market size was valued at USD 3.9 billion in 2021. it is projected to reach USD 15.4 billion by 2027, growing at a compound annual growth rate (CAGR) of 25.7% during the forecast period. The key factors fueling the growth of the market include the increasing deployment of cellular IoT modules in smart city infrastructure and building automation verticals, and growing demand for cellular IoT in agricultural automation and environmental monitoring. Additionally, increasing application of cellular IoT modules in medical wearables, and Increasing applications for cellular IoT modules in vehicle telematics and fleet management is expected to create a growth opportunity for the cellular IoT industry. The hardware segment is projected to account for the largest share of the market by 2027 Hardware components such cellular IoT modules and chipsets form the basis of the entire cellular IoT ecosystem. The increasing deployment of cellular IoT modules in wearables and connected healthcare devices as well as smartcity infrastructure, and building automation projects is expected to fuel the growth of the hardware segment during by 2027 APAC region is expected to grow at the highest CAGR from 2021 to 2027 China, Japan, India, and South Korea are the major countries contributing to the growth of the cellular IoT market in APAC. Rapid deployment of smart city projects and increased demand for connected health wearable devices during the COVID-19 pandemic are driving the growth of the regional market. Smart city infrastructure and building automation are the major verticals deploying cellular IoT modules. As of 2020, almost ~30% of the revenue of the market was generated from these verticals. Emerging cellular IoT technologies such as NB-LTE-M, NB-IoT, and 5G are offering an affordable and power- efficient way to connect battery-operated devices to the internet. From smart street lighting to smart parking, these technologies can help in connecting devices more efficiently than the existing 2G and 3G technologies. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=232497754 Some of the major applications of cellular IoT in smart cities are in streetlights, traffic sensing and control devices, infrastructure monitoring devices, waste management devices, and parking management devices. Governments worldwide are particularly focusing on modern infrastructure reforms, and many pilot projects are being set up to achieve this goal. Besides, the governments in North America and Eastern Europe are incentivizing such projects and forging public–private partnerships (PPPs). About MarketsandMarkets™ MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

  2. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem.Our insights and strategies are molded by our industry experts, cutting-edge AI- powered Market Intelligence Cloud, and years of research.The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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