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5G and LPWAN Bring Opportunities for New Applications and Use Cases to Flourish in Different Verticals
03-Nov-2023
Global
Market Research
K8FF-01-00-00-00
IT_2023_290
The global cellular IoT market is in the growth stage, with telecom operators expanding in terms of net add connections and revenue. Despite the acceleration initiative by the ecosystem to shut down their 2G and 3G networks, the cellular IoT market is evolving fast. A large number of developing economies continue to use 2G and 3G to ensure connectivity at a low cost. However, global 4G adoption surpassed other wireless technologies, and NB-IoT became the fastest-growing technology in China in 2022, which impacted overall market growth. LTE-M is expanding rapidly in the US market. In 2023, 5G was commercially available in the most advanced economies in APAC, North America, Europe, LATAM, and EMEA, and network rollouts continued growing in emerging economies. Total cellular IoT market revenue is estimated to grow from $8.3 billion in 2022 to $15.6 billion in 2028, expanding at a CAGR of 10.9% from 2022 to 2028. The major telecom operators delivering cellular IoT data services include China Mobile, China Telecom, China Unicom, AT&T, Verizon, Vodafone, Deutsche Telekom, and Telefónica. Besides delivering connectivity services with flexible data plans, easy deployment, and high quality, participants are developing ecosystems with cloud providers, system integrators, and hardware manufacturers to test innovative solutions with 5G RedCap as well as terrestrial and non-terrestrial network (NTNs) solutions. This market influences growth opportunities in different areas for both consumer and enterprise use cases. Cellular IoT supports a wide range of use cases, including low-complexity deployments that require low data transmission; devices with higher throughput and low latency; as well as latency-sensitive applications and edge computing. This study provides a forecast analysis of revenue and cumulative IoT connections from 2022 until 2028; revenue forecast by segments (protocol, vertical, and region); and cumulative IoT connections by segments (protocol, vertical, and region).
Author: Renato Pasquini
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Cellular Internet of Things (IoT) Connectivity Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Scope of Analysis
Market Definitions
Segmentation by Connectivity Protocol
Key Competitors
Key Questions Addressed
Growth Environment
Growth Drivers
Growth Restraints
Forecast Assumptions
Growth Metrics
Revenue and Cumulative IoT Connections Forecast
Revenue Forecast by Connectivity Protocol
Revenue Forecast by Region
Revenue Forecast by Vertical
Cumulative IoT Connections by Connectivity Protocol
Cumulative IoT Connections by Region
Cumulative IoT Connections by Vertical
Revenue and Cumulative IoT Connections Forecast Analysis
Revenue Forecast Analysis by Connectivity Protocol
Revenue Forecast Analysis by Region
Revenue Forecast Analysis by Vertical
Pricing Trends and Forecast Analysis
Competitive Environment
Revenue Share
Revenue Share Analysis
Cumulative IoT Connections Share
Cumulative IoT Connections Share Analysis
AT&T
China Mobile
China Telecom
China Unicom
Deutsche Telekom
Telefónica
Verizon
Vodafone
Growth Opportunity 1—Connected/Autonomous Vehicles for Efficient and Accident-Free Transportation
Growth Opportunity 1—Connected/Autonomous Vehicles for Efficient and Accident-free Transportation (continued)
Growth Opportunity 1—Connected/Autonomous Vehicles for Efficient and Accident-free Transportation (continued)
Growth Opportunity 1—Connected/Autonomous Vehicles for Efficient and Accident-free Transportation (continued)
Growth Opportunity 2—IoT/AI/ML Inferencing for Computer Vision and Other Analytics-as-a-Service Solutions
Growth Opportunity 2—IoT/AI/ML Inferencing for Computer Vision and Other Analytics-as-a-Service Solutions (continued)
Growth Opportunity 2—IoT/AI/ML Inferencing for Computer Vision and Other Analytics-as-a-Service Solutions (continued)
Growth Opportunity 3—Industry 4.0 Solutions for Enhanced Productivity and Zero Accidents
Growth Opportunity 3—Industry 4.0 Solutions for Enhanced Productivity and Zero Accidents (continued)
Growth Opportunity 3—Industry 4.0 Solutions for Enhanced Productivity and Zero Accidents (continued)
Growth Opportunity 4—Smart City Applications to Serve Citizens Better and Reduce Costs and Carbon Dioxide Emissions
Growth Opportunity 4—Smart City Applications to Serve Citizens Better and Reduce Costs and Carbon Dioxide Emissions (continued)
Growth Opportunity 4—Smart City Applications to Serve Citizens Better and Reduce Costs and Carbon Dioxide Emissions (continued)
Your Next Steps
Why Frost, Why Now?
List of Exhibits
Legal Disclaimer
List of Figures
- Cellular IoT: Growth Drivers, Global, 2023–2028
- Cellular IoT: Growth Restraints, Global, 2023–2028
- Cellular IoT: Growth Metrics, Global, 2022
- Cellular IoT: Revenue and Cumulative IoT Connections Forecast, Global, 2022–2028
- Cellular IoT: Revenue Forecast by Connectivity Protocol, Global, 2022–2028
- Cellular IoT: Revenue Forecast by Region, Global, 2022–2028
- Cellular IoT: Revenue Forecast by Vertical, Global, 2022–2028
- Cellular IoT: Cumulative IoT Connections by Connectivity Protocol, Global, 2022-2028
- Cellular IoT: Cumulative IoT Connections by Region, Global, 2022–2028
- Cellular IoT: Cumulative IoT Connections by Vertical, Global, 2022–2028
- Cellular IoT: Revenue Share of Top Participants, Global, 2022
- Cellular IoT: Cumulative IoT Connections Share of Top Participants, Global, 2022
- Cellular IoT: Key Mobility Application, Global, 2022–2025
- Cellular IoT: Computer Vision Technologies and Application Areas, Global, 2010–2025
- Cellular IoT: Digital Manufacturing Technology Implementation Status, Global, 2020
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| Deliverable Type | Market Research |
|---|---|
| Author | Renato Pasquini |
| Industries | Information Technology |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | Iot Industry |
| Keyword 2 | Iot Data Analytics |
| Keyword 3 | Industrial Internet Of Things |
| List of Charts and Figures | Cellular IoT: Growth Drivers, Global, 2023–2028~ Cellular IoT: Growth Restraints, Global, 2023–2028~ Cellular IoT: Growth Metrics, Global, 2022~ Cellular IoT: Revenue and Cumulative IoT Connections Forecast, Global, 2022–2028~ Cellular IoT: Revenue Forecast by Connectivity Protocol, Global, 2022–2028~ Cellular IoT: Revenue Forecast by Region, Global, 2022–2028~ Cellular IoT: Revenue Forecast by Vertical, Global, 2022–2028~ Cellular IoT: Cumulative IoT Connections by Connectivity Protocol, Global, 2022-2028~ Cellular IoT: Cumulative IoT Connections by Region, Global, 2022–2028~ Cellular IoT: Cumulative IoT Connections by Vertical, Global, 2022–2028~ Cellular IoT: Revenue Share of Top Participants, Global, 2022~ Cellular IoT: Cumulative IoT Connections Share of Top Participants, Global, 2022~ Cellular IoT: Key Mobility Application, Global, 2022–2025~ Cellular IoT: Computer Vision Technologies and Application Areas, Global, 2010–2025~ Cellular IoT: Digital Manufacturing Technology Implementation Status, Global, 2020~ |
| Podcast | No |
| WIP Number | K8FF-01-00-00-00 |
Global Cellular IoT Connectivity Growth Opportunities
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