셀룰러 IoT 시장 : 지역별(2024-2031년)

Cellular IoT Market Valuation - 2024-2031

The significant growth in demand for cellular IoT, in the market is being driven by the proliferation of connected devices and the growing demand for real-time data collection and analysis. As more devices are interconnected, there is an increasing need for dependable and secure communication networks to facilitate these interactions. The market size surpass USD 8.2 Billion valued in 2024 to reach a valuation of aroundUSD 41.53 Billion by 2031.

Cellular technology advances such as 5G, LTE-M, and NB-IoT enable new IoT applications and use cases. These technologies provide greater connectivity, lower power consumption, and broader coverage, making them suitable for a wide range of IoT implementations. The rising demand for cost-effective and efficient cellular IoT is enabling the market grow at aCAGR of 24.80% from 2024 to 2031.

Cellular IoT Market: Definition/ Overview

Cellular IoT (Internet of Things) is the use of cellular networks to connect IoT devices and enable communication between them. This technology uses current cellular infrastructure, such as 2G, 3G, 4G, and 5G networks, to enable wide-area connections for a variety of IoT applications. Cellular IoT is widely employed in areas including smart cities, transportation, healthcare, and agriculture. For instance, it offers real-time vehicle tracking via telematics, remote patient monitoring in healthcare, and precision farming in agriculture. The technology is valued for its scalability, dependability, and ability to serve a high number of devices across huge geographical areas.

Cellular IoT is promising, especially with the broad adoption of 5G networks, which are projected to open up new opportunities for IoT applications. The low latency, high data transfer speeds, and faster connections of 5G will enable more sophisticated use cases, such as self-driving cars, smart factories, and advanced healthcare solutions like remote operations.

Furthermore, the development of Narrowband IoT (NB-IoT) and LTE-M technologies, which are specifically developed for IoT, will spur additional growth by providing low power consumption and expanded coverage in tough situations. As more sectors use IoT to increase operational efficiency, cut costs, and improve customer experiences, demand for Cellular IoT is likely to skyrocket in the coming years.

What's inside a VMR industry report?

Our reports include actionable data and forward-looking analysis that help you craft pitches, create business plans, build presentations and write proposals.

How will the Advancements in 5G Technology Drive the Cellular IoT Market?

Advancements in 5G technology are driving the cellular IoT market. According to the Global Mobile Suppliers Association (GSA), the global implementation of 5G networks, with 296 operators in 105 countries/territories launching commercial services by January 2024, enables more advanced IoT applications. 5G networks' high speed, low latency, and expanded capacity enable more complex and data-intensive IoT use cases like autonomous vehicles, smart cities, and industrial automation, making them a key driver of the growing Cellular IoT market.

The growing emphasis on industrial automation is propelling the Cellular IoT market. According to the International Federation of Robotics, the Industrial Internet of Things (IIoT) will play a significant role, with the global stock of operating industrial robots reaching a record 3.5 million units by 2022. The rising automation in manufacturing and other industries is driving the demand for cellular IoT solutions. These solutions are critical for remote monitoring, predictive maintenance, and process optimization, making Cellular IoT an important component in the progress of industrial automation and driving market growth.

How Does the High Deployment Costs Impact the Growth of the Cellular IoT Market?

High deployment costs limit the growth of the cellular IoT market. Many firms, particularly small and medium-sized enterprises (SMEs) and those in developing regions may find it prohibitively expensive to adopt cellular IoT infrastructure, which includes the cost of devices, network setup, and continuous maintenance. These high prices may limit these enterprises' ability to implement cellular IoT solutions, delaying market growth. The cost burden of upgrading existing systems to interface with Cellular IoT technology complicates the situation, making it difficult for businesses to justify the investment, particularly when the return on investment (ROI) is not immediately obvious.

Security concerns impact the growth of the cellular IoT market. As IoT devices become increasingly common, they provide more access points for hackers, making security a crucial concern. Vulnerabilities in IoT networks can cause data breaches, unauthorized access, and system disruptions. These risks may hinder firms from fully adopting cellular IoT solutions, particularly in industries such as healthcare, banking, and critical infrastructure, where data security is crucial. The possibility of high-profile security events may limit the adoption of Cellular IoT, as businesses assess the benefits against the risks of exposing sensitive data and operations to cyber-attacks.

Category-Wise Acumens

Which Factors Enhance the Use of Cellular IoT in Large Enterprises?

The 4G/LTE segment is currently leading the cellular IoT market. This is primarily owing to its ubiquitous availability and solid performance, which make it suited for a variety of IoT applications. 4G/LTE provides faster data rates, reduced latency, and broader coverage than prior generations, allowing for more complicated and data-intensive IoT use cases. The vast infrastructure and ecosystem created around 4G/LTE technologies contribute to this segment's supremacy.

The 5G category is growing at the fastest rate. 5G provides much faster data rates, lower latency, and increased network capacity, making it ideal for high-performance IoT applications like autonomous vehicles, industrial automation, and virtual reality. As 5G networks extend and mature, we may anticipate an increase in the use of 5G-enabled IoT devices and services, resulting in significant growth in this market.

How will the Rapid Growth of Electric Vehicles Propel the Automotive & Transportation Segment in the Cellular IoT Market?

The automotive & transportation category dominates the cellular IoT market. The rising use of electric vehicles (EVs) is expected to propel the automotive & transportation segment of the cellular IoT market. As EV usage grows, there is a greater demand for enhanced connectivity solutions to monitor vehicle performance, battery health, and charging infrastructures. Cellular IoT offers real-time data transmission, enabling for remote monitoring, predictive maintenance, and effective fleet management of electric vehicles. The integration of IoT with EVs improves smart grid interactions and promotes the development of self-driving technologies, hence increasing demand for cellular IoT solutions in the automotive and transportation sectors.

The growing connection of automobiles is propelling the automotive & transportation segment of the cellular IoT market. Remote diagnostics, over-the-air upgrades, advanced driver assistance systems (ADAS), and self-driving cars all rely on flawless data transmission between vehicles and external systems. Cellular IoT provides the infrastructure required for real-time data sharing, allowing manufacturers and service providers to offer these advanced capabilities. This connectivity not only improves vehicle performance and safety, but also promotes the development of smart transportation ecosystems, making cellular IoT essential in the evolution of modern vehicles and driving its acceptance in the automotive and transportation industries.

Country/Region-wise Acumens

Will the Adoption of IoT Technologies in the North American Region Propel the Expansion of Cellular IoT Market?

North America is anticipated to lead the cellular IoT market. The deployment of IoT technologies in North America is propelling the cellular IoT market. The United States and Canada are at the forefront of implementing IoT solutions in industries such as manufacturing, healthcare, and smart cities, as highlighted by the US International Trade Administration's 2023 IoT Market Report. This early adoption trend is especially significant in the industrial sector, as 71% of US manufacturers use IoT technologies, according to the Census Bureau's Annual Survey of Manufacturers (2022). This extensive integration increases the need for dependable and secure cellular connectivity solutions, greatly driving the region's cellular IoT market.

Strong technological improvements and infrastructure in North America will power the Cellular IoT market. The United States and Canada are at the forefront of the development of cutting-edge cellular technology, with 5G now covering 95% of the US population and significant investment in Canada's wireless network infrastructure expected to reach CAD 3.5 billion by 2022. These developments establish a solid foundation for the growth of cellular IoT devices and services. The extensive 5G coverage and enhanced network capabilities lay the groundwork for advanced IoT applications, while increased infrastructure investment promotes the growth and adoption of Cellular IoT technologies, propelling market progress in the region.

Will the Rapid Urbanization and Increasing Population in the Asia-Pacific Region Expand for the Cellular IoT Market?

The Asia-Pacific region is experiencing the most rapid expansion in the cellular IoT market. Rapid urbanization and rising population in Asia-Pacific will considerably drive the Cellular IoT market. According to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), the region's urban population will increase from 2.3 billion in 2020 to 3.5 billion by 2050, driving the need for smart city solutions and efficient infrastructure management. This expansion demands modern Cellular IoT solutions to manage traffic, trash, and public safety in growing metropolitan areas. The China Academy of Information and Communications Technology (CAICT) claimed a significant increase in cellular IoT connections, with 1.84 billion connections and a 22% year-on-year growth rate in China alone, demonstrates the region's commitment to using these technologies to address the difficulties brought by rising urbanization and population increase.

Government support for IoT projects and infrastructure development will propel the cellular IoT market. Significant investments and strategic activities in the Asia-Pacific region are fostering cellular IoT growth. For instance, China's Ministry of Industry and Information Technology (MIIT) predicted a market value of 2.4 trillion yuan ($351 billion) for the IoT industry in 2022, with a 12.5% growth rate, boosted by the "14th Five-Year Plan," which aims to link 600 million Narrow-Band IoT (NB-IoT) devices by 2025. Similarly, India's "Digital India" effort is investing $7.3 billion in smart city initiatives based on cellular IoT, with the IoT market expected to reach USD 9 Billion and 2.7 billion devices by 2025. These government-led initiatives significantly drive innovation and expand possibilities in the cellular IoT market promoting the development and implementation of IoT technologies in a variety of industries.

Competitive Landscape

The cellular IoT market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support.

The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the cellular IoT market include:

• Qualcomm Technologies, Inc.
• Texas Instruments Incorporated
• MediaTek, Inc.
• Huawei Technologies
• Samsung Electronics
• Quectel
• Fibocom
• Telit Cinterion
• Sierra Wireless
• Thales
• AT&T
• Verizon
• China Mobile
• Vodafone
• Deutsche Telekom
• Ericsson
• Huawei
• Bosch Software Innovations
• Microsoft
• Amazon Web Services (AWS)

Latest Developments

• In January 2024, Nordic Semiconductor debuted its IoT innovations and demonstrated low-power Wi-Fi, LE Audio, Matter, and power management at CES 2024 in Norway. The presented devices include core IoT technologies such as cellular IoT (LTE-M and NB-IoT), low-power Wi-Fi, Matter, DECT NR+, and Bluetooth Low Energy (Bluetooth LE), demonstrating the company's major contribution to the IoT environment at CES.
• In December 2023, SoftBank's acquisition of a 51% stake in Cubic Telecom, which specializes in connected car solutions, is expected to close in the first half of 2024 for a USD 510 Million investment. The agreement established a strategic worldwide alliance focusing on software-defined connected vehicles and significant IoT assets, with Cubic Telecom becoming a consolidated subsidiary of SoftBank following the investment conclusion.
• In November 2023, Telenor teamed with Polarium to deliver internationally managed IoT connectivity services for energy storage solutions. Polarium used Telenor's superior cellular-managed connectivity to deliver a wide range of digital solutions, such as fleet management, anti-theft, remote monitoring, and tracking services, for comprehensive coverage of energy storage systems.
• In November 2023, CommScope collaborated with STMicroelectronics to integrate the company's PKIWorks IoT security platform with ST's STM32WB MCU (microcontroller unit). This partnership accelerated secure IoT device development, lowering costs and time by simplifying Matter-device-credentials production and allowing commissioning at the MCU level without developer participation.

TABLE OF CONTENTS

1. Introduction

• Market Definition
• Market Segmentation
• Research Methodology

2. Executive Summary

• Key Findings
• Market Overview
• Market Highlights

3. Market Overview

• Market Size and Growth Potential
• Market Trends
• Market Drivers
• Market Restraints
• Market Opportunities
• Porter's Five Forces Analysis

4. Cellular IoT Market, By Technology

• 2G
• 3G
• 4G/LTE
• 5G

5. Cellular IoT Market, By Application

• Smart Cities:
• Smart Agriculture
• Industrial IoT (IIoT)
• Smart Healthcare
• Smart Utilities

6. Cellular IoT Market, By End-User Industry

• Manufacturing
• Transportation and Logistics
• Healthcare
• Utilities
• Retail

7. Regional Analysis

• North America
• United States
• Canada
• Mexico
• Europe
• United Kingdom
• Germany
• France
• Italy
• Asia-Pacific
• China
• Japan
• India
• Australia
• Latin America
• Brazil
• Argentina
• Chile
• Middle East and Africa
• South Africa
• Saudi Arabia
• UAE

8. Market Dynamics

• Market Drivers
• Market Restraints
• Market Opportunities
• Impact of COVID-19 on the Market

9. Competitive Landscape

• Key Players
• Market Share Analysis

10. Company Profiles

• Qualcomm Technologies Inc.
• Texas Instruments Incorporated
• MediaTek Inc.
• Huawei Technologies
• Samsung Electronics
• Quectel
• Fibocom
• Telit Cinterion
• Sierra Wireless
• Thales
• AT&T
• Verizon
• China Mobile
• Vodafone
• Deutsche Telekom
• Ericsson
• Huawei
• Bosch Software Innovations
• Microsoft
• Amazon Web Services (AWS)
• ARM
• Gemalto
• Sequans Communications
• U-blox

11. Market Outlook and Opportunities

• Emerging Technologies
• Future Market Trends
• Investment Opportunities

12. Appendix

• List of Abbreviations
• Sources and References