2022 Update—Total Cellular Internet of Things (IoT) Connections Forecast 2018–2027

The impact of Covid-19 continues to reverberate in the Internet of Things (IoT). In addition, the fears of a global recession will have an impact on the market. While this impact is likely to be felt more in the EMEA region, other regions will be impacted by the global recession and inflationery pressures. This Reforecast of the IoT space shows that by 2027, there will be over 3.99 billion cellular IoT connections active globally. 2022 will see growth decline to slightly to 19.7 percent with Asia-Pacific accounting for a large share of that growth. EMEA region will be the slowest to recover with the region taking until later in 2023 to get back to previously forecasted growth. The United States will see increasing growth throughout the forecast period.