Cellular IoT Market Report by Component (Hardware, Software), Type (2G, 3G, 4G, LTE-M, NB-LTE-M, NB-IoT, 5G), End Use (Agriculture, Automotive and Transportation, Consumer Electronics, Energy, Environment Monitoring, Healthcare, Retail, Smart Cities, and Others), and Region 2024-2032

Cellular IoT Market Report by Component (Hardware, Software), Type (2G, 3G, 4G, LTE-M, NB-LTE-M, NB-IoT, 5G), End Use (Agriculture, Automotive and Transportation, Consumer Electronics, Energy, Environment Monitoring, Healthcare, Retail, Smart Cities, and Others), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A4140
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Market Overview:

The global cellular IoT market size reached US$ 5.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 25.4 Billion by 2032, exhibiting a growth rate (CAGR) of 18.2% during 2024-2032.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 5.4 Billion
Market Forecast in 2032
US$ 25.4 Billion
Market Growth Rate 2024-2032 18.2%


Cellular Internet of Things (IoT) refers to the integration of telecommunication devices with the internet. It utilizes advanced technologies, such as 3G, 4G, 5G and Low Power Wide Area (LPWA), for establishing reliable connections through various hardware devices and sensors. It is widely used for asset, warehouse and workforce management, remote plant monitoring, automation, cloud-based robotics, traffic management and telematics in smartwatches and fitness bands. Cellular IoT solutions simplify global deployment, establish a secured connection with other shared networks and support both low and high bandwidths. As a result, they find extensive applications across various industries, including agriculture, environment monitoring, healthcare, manufacturing, automotive and energy.

Global Cellular IOT Market

Cellular IoT Market Trends:

Significant growth in the telecommunications industry across the globe is one of the key factors creating a positive outlook for the market. Moreover, rapid digitization and the increasing requirement for automation across industries are providing a thrust to the market growth. Medium and large-scale organizations are widely adopting Narrowband Internet of Things (NB-IoT) and Long-Term Evolution for Machines (LTE-M) solutions. These technologies can be integrated with the existing mobile networks to provide enhanced end-to-end security, device-level access and authentication and encrypted data transfer. Additionally, integration of the IoT, embedded sensors, Wi-Fi and Bluetooth with automobile systems are acting as other growth-inducing factors. Automotive manufacturers combine wireless communication into both luxury and economy vehicles to facilitate in-vehicle communication, vehicle-to-vehicle communication and vehicle-to-infrastructure communication. In line with this, these technologies are also used for smart metering, weather monitoring, infrastructure security and flood and agricultural management. Other factors, including increasing commercialization of 5G, along with significant infrastructural developments, especially in the developing economies, are anticipated to drive the market toward growth.

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global cellular IoT market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on component, type and end use.

Breakup by Component:

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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  • Hardware
  • Software
    • Device Management
    • Signal Processing
       

Breakup by Type:

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

Breakup by End Use:

  • Agriculture
  • Automotive and Transportation
  • Consumer Electronics
  • Energy
  • Environment Monitoring
  • Healthcare
  • Retail
  • Smart Cities
  • Others
     

Breakup by Region:

 

 
 

 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Component, Type, End Use, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global cellular IoT market size was valued at US$ 5.4 Billion in 2023. The rising deployment of cellular IoT modules in smart city infrastructures and autonomous vehicles is primarily driving the market growth. Moreover, the emerging trend of industrialization, along with the growing adoption of automated devices for better efficiency, remote monitoring, and increased productivity across diverse sectors, is also augmenting the demand for cellular IoT platforms. Additionally, the elevating preferences toward cellular IoT in weather monitoring and infrastructure security are further propelling the global market.

Several benefits of cellular technology include extensive coverage, improved cost-effectiveness and affordability, enhanced remote management, high flexibility associated with connectivity, and excellent security. The cellular IoT networks are ubiquitous, mature, reliable and work out-of-the-box without requiring any extra hardware installation. Thus, the benefits associated with cellular IoT technology make it a predominant option among consumers these days.

The future of cellular IoT seems to be optimistic. The rising digitization and automation across diverse industries, such as manufacturing, automotive and agriculture, healthcare, energy & utilities, etc., are expected to drive the market growth in the coming years. Moreover, numerous medium- and large-scale organizations are widely adopting Narrowband Internet of Things (NB-IoT) and Long-Term Evolution for Machines (LTE-M) solutions, which will continue to augment the global cellular IoT market over the forecast period. Additionally, the growing adoption of cellular IoT for smart metering, weather monitoring, infrastructure security, and flood and agricultural management, is further anticipated to propel the market growth.

Cellular IoT is a cost-effective and affordable technology for several applications, such as assets in motion (cars, trucks, trains) as well as static assets (smart meters, smart city, smart factory environments). The cellular IoT uses the cellular network to connect physical devices to the internet. It can provide both indoor and outdoor applications and helps to support both low- and high-bandwidth applications. Furthermore, cellular-IoT platforms are also used for tracking data in public park systems, remote-starting excavators, environmental management, and fleet management with safer transportation, among others.

We expect the global cellular IoT market to exhibit a CAGR of 18.2% during 2024-2032.

As per the IMARC Group, the segments of the global cellular IoT market includes, by Component (Hardware and Software), by Type (2G, 3G, 4G, LTE-M, NB-LTE-M, NB-IoT, 5G), by End-Use (Agriculture, Automotive and Transportation, Consumer Electronics, Energy, Environment Monitoring, Healthcare, Retail, Smart Cities, and Others) and by Region (North America, Asia-Pacific, Europe, Middle East, and Africa).

The rising adoption of cellular IoT solutions across various industries, such as agriculture, healthcare, manufacturing, etc., to establish a secure connection with other shared networks, simplify global deployment, support low and high bandwidths, etc., is primarily driving the global cellular IoT market.

The sudden outbreak of the COVID-19 pandemic has led to the increasing deployment of cellular IoT solutions to provide a reliable connectivity, during the remote working scenario.

Based on the component, the global cellular IoT market can be categorized into hardware and software. Currently, hardware accounts for the majority of the global market share.

Based on the type, the global cellular IoT market has been segregated into 2G, 3G, 4G, LTE-M, NB-LTE-M, NB-IoT, and 5G. Among these, 3G currently exhibits a clear dominance in the market.

Based on the end use, the global cellular IoT market can be bifurcated into agriculture, automotive and transportation, consumer electronics, energy, environment monitoring, healthcare, retail, smart cities, and others. Currently, energy holds the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global cellular IoT market include 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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Cellular IoT Market Report by Component (Hardware, Software), Type (2G, 3G, 4G, LTE-M, NB-LTE-M, NB-IoT, 5G), End Use (Agriculture, Automotive and Transportation, Consumer Electronics, Energy, Environment Monitoring, Healthcare, Retail, Smart Cities, and Others), and Region 2024-2032
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