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Cellular IoT Connections to Grow Rapidly as Low Power Networks and 5G Drive Adoption
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This study provides the market size and forecast for Cellular IoT connections and connectivity revenue for cellular network operators. This global study is segmented by regions, namely, North America, Latin America, Europe, Middle East and Africa (EMEA), and Asia-Pacific. All connections and connectivity revenue forecasts are provided for the following applications: Portable Asset Tracking, OEM Telematics/Connected Car, Commercial/Fleet Telematics, Usage-based Insurance, Vehicle Lending/ BHPH, Infotainment & Aftermarket Telematics, Smart Grid/ Oil & Gas, AMIs & Smart Meters, Smart Home/ Alarm Monitoring, Building Automation, Security & Surveillance, Factory & Industrial Automation, Fixed Asset Monitoring, Vending, PoS & Transaction Terminals. Digital Signage, Healthcare & Medical Devices, mHealth & Wellness, Connected Consumer Electronics, and Others, Tier-II, MVNO & Wholesale.Globally, there were 631.6 million cellular IoT connections in 2017 that is forecast to grow to over 3,145.5 million connections in 2024 at a CAGR of 25.8 percent. Asia-Pacific has the largest share with over 432.3 million connections in 2017 that is forecast to grow to over 2,392.3 million connections in 2024 at a CAGR of 27.7 percent.Globally, cellular network operators generated over $10,404.6 million in connectivity revenue from IoT connections in 2017 that is forecast to grow to over $87,977.4 million in 2024 at a CAGR of 37.7 percent.Author: Dilip Sarangan
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