Cellular IoT Market: Current Analysis and Forecast (2022-2030)

Report Description

The Cellular IoT Market is expected to grow at a strong CAGR of x% during the forecast period 2022-2030. Owing to the increasing demand for remote monitoring and control. Cellular IoT refers to the use of cellular networks to enable Internet of Things (IoT) devices to communicate with each other and with the internet. Cellular IoT devices use cellular networks to connect to the internet and exchange data with other devices or applications. In recent years, the cellular IoT market has seen a significant growth with the proliferation of connected devices and the increasing demand for real-time data processing, cellular IoT has become an essential component of the modern technology landscape. Moreover, advancements in edge computing, adoption of 5G networks and need for real-time data processing is driving the market.

Some of the major players operating in the market include Qualcomm Technologies, Inc.; Thales; Sierra Wireless. ; Telit; Texas Instruments Incorporated; ZTE Corporation; Crunchbase Inc.; SEQUANS. ; Huawei Technologies Co., Ltd.

Insights Presented in the Report

“Amongst component, the hardware segment will also attain a considerable share of the market during the forecast period.”

Based on component, the market is bifurcated into hardware and software. Amongst these, the hardware segment will attain a considerable share of the market during the forecast period to the increasing demand for need for secure and reliable data transfer and management. IoT Hardware include many tangible components such as sensors, computer chips, actuators, cables and many other smart devices which are used to enable connectivity. The increasing demand of automotive and AI controlled devices is leading this segment.

 “Amongst End-Users, the energy captured the majority share of the cellular IoT market in 2021.”

On the basis of end-users, the market is segmented into retail, energy, healthcare, manufacturing and others. Among these, energy segment is experiencing significant growth as more industries adopt IoT technologies to improve energy efficiency and reduce their environmental impact. The increasing demand for energy-efficient solutions, growing adoption of renewable energy sources, and government initiatives promoting smart grid infrastructure are some of the key factors driving the growth of the energy segment in the cellular IoT market.

“APAC holds the fastest growing share of the cellular IoT market in 2021.”

Asia-Pacific is expected to be the fastest-growing market of cellular IoT due to countries such as China and India. Also the increased investment in IoT technology along with the growing demand of technology companies is further thr driving the market. Contribution of governments in Asian countries such as India in launching number of smart infrastructure projects is also fueling the market. Moreover, governments in India, Japan, China, Korea, Malaysia, and Singapore have promoted national cellular IoT strategies, which are expected to fuel the growth of the cellular IoT market in these countries. Furthermore, the increasing use of smart meters and grids fuels the expansion of cellular IoT modules in the region’s energy industry along with the expansion of energy management, combined with rising demand for green homes, drives overall demand for the building automation market, resulting in high demand for cellular IoT deployment.

Cellular IoT Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global cellular IoT market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Cellular IoT Market Analysis (2022-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global cellular IoT market were the three major steps undertaken to create and analyze the adoption of cellular IoT in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global cellular IoT market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the cellular IoT market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the cellular IoT market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as component, type of network, end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the cellular IoT market. Further, we conducted factor analysis using dependent and independent variables such as component, type of network, end-users of the cellular IoT market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the cellular IoT market sector across the globe. 

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global cellular IoT market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the cellular IoT market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global cellular IoT market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global cellular IoT market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the component, type of network, end-users in the global cellular IoT market.

The main objective of the Global Cellular IoT Market Study

The current & future market trends of the global cellular IoT market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the cellular IoT market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of the component, type of network, end-users.
• Define and analysis of the regulatory framework for the cellular IoT
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the cellular IoT market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the cellular IoT market and the growth strategies adopted by the market players to sustain in the fast-growing market.
• Deep dive regional level analysis of the industry

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