Global Cellular IoT Connectivity Growth Opportunities

Global Cellular IoT Connectivity Growth Opportunities

5G and LPWAN Bring Opportunities for New Applications and Use Cases to Flourish in Different Verticals

RELEASE DATE
03-Nov-2023
REGION
Global
Deliverable Type
Market Research
Research Code: K8FF-01-00-00-00
SKU: IT_2023_290
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Description

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

Table of Contents

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

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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 Telef nica. 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
More Information
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
Podcast No
WIP Number K8FF-01-00-00-00