Cellular IoT Market is projected to surpass US$15.006 billion by 2029 at a CAGR of 19.69%

The cellular IoT market is anticipated to grow at a CAGR of 19.69% from US$4.264 billion in 2022 to US$15.006 billion by 2029.

NOIDA, UTTAR PARDESH, INDIA, June 21, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the cellular IoT market is projected to grow at a CAGR of 19.69% between 2022 and 2029 to reach US$15.006 billion by 2029.

IoT or the Internet of Things is a technology, that is embedded with various types of sensors and technologies, to keep the device connected to the Internet. A cellular IoT is a similar device, which uses cellular connectivity technology, like 3G, 4G, and 5G among others to keep the device connected to the internet. A cellular IoT is also different from other types of IoT devices, for instance, in cellular IoT, the device is connected through the cellular network, whereas in non-cellular IoT, the device is connected through WiFi or other wired internet connections.

The demand for cellular IoT is sure to witness a great boost in the next few years, as the governments of various countries are constantly trying to develop the IoT landscape in their nations. For instance, the Government of India is constantly updating its IoT Draft Policy and is also planning to invest about 1,000 Indian SMEs, who are contributing to the IoT industry. Similarly, the European Union is also cooperating with multiple industries and organizations, to utilize the potential of IoT across Europe. In its IoT policy, the union planned to expand IoT accessibility across multiple vertical sectors, like automotive, healthcare, agriculture, and more, to promote the use of technology, and boost digital and green transition.

From smart watches to automotive, the globe has witnessed the introduction of various cellular IoT devices, designed for personal and commercial use. For instance, in September 2023, Apple a global technological leader, launched its new series of smartwatch, the Ultra 2 series. According to the company, this smartwatch has the feature of cellular technology, with GPS and gesture control. Similarly, other brands like Samsung, Xiaomi, Boat, and OnePlus are among the multiple companies introducing cellular IoT technologies in personal wearables. In the healthcare industry, the companies are embedding the cellular IoT connectivity technologies into the health devices. For instance, in February 2024, Vedic Inc. launched its new Smart Meter a type of connected health device, integrated with cellular-enable technology.

Access sample report or view details: https://www.knowledge-sourcing.com/report/cellular-iot-market

The cellular IoT market by type is segmented into 2G, 3G, 4G, LTE-M, and others. The 4G, under the type segment of the cellular IoT market, is sure to attain maximum market share. 4G refers to the fourth generation of cellular or mobile technology, which offers better data downloading speed, with easy access to the internet. The 4G also offers higher bandwidth as compared to the 3G or 2G, making the technology faster than the others.

The cellular IoT market by component is segmented into hardware and software. The hardware component is anticipated to attain maximum share, in the cellular IoT market. The cellular IoT hardware components include chipsets and sensors, which help the device stay connected to the internet. Chipsets are among to most essential components of any IoT device, that ensures to link of the device to the cellular internet.

The cellular IoT market by end-user is segmented into agriculture, automotive & telecommunication, consumer electronics, energy, retail, and others. Under the end-user segment, the automotive and telecommunication category is anticipated to attain maximum shares. In the automotive industry, cellular IoT devices offer commercial fleet operators, a constant availability of information on the vehicles, like route location, fuel tracking, and vehicle service conditions. Similarly, in the telecommunication industry, cellular IoT devices offer control over the telecom devices, with reduced manpower, and offer new and better service to the consumers.

Based on geography, the cellular IoT market is expanding significantly in the Asia-Pacific region, as the region is among the global hubs for the manufacturing and telecommunication industry. Countries like China, India, and Vietnam, offer large manufacturing, automotive, energy, and healthcare industry landscapes, in which the demand for cellular IoT devices is higher, increasing the market demand for cellular IoT in the region.

The research includes several key players from the cellular IoT market, such as Infineon Technologies AG, NXP Semiconductors, Continental AG, Qualcomm Technologies, Inc., AUTOCRYPT Co., Ltd., Commsignia, Lear, Yunex Traffic, Autotalks, and HARMAN International.

The market analytics report segments the cellular IoT market as follows:

• By Type

o 2G
o 3G
o LTE - M
o Others

• By Component

o Hardware
o Software

• By End – Users

o Agriculture
o Automotive and Telecommunication
o Consumer Electroncis
o Energy
o Retail
o Others

• By Geography

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Italy
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Others

o Asia Pacific

• Japan
• China
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others

Companies Profiled:

• Infineon Technologies AG
• NXP Semiconductors
• Continental AG
• Qualcomm Technologies, Inc.
• AUTOCRYPT Co., Ltd.
• Commsignia
• Lear
• Yunex Traffic
• Autotalks
• HARMAN International

Explore More Reports:

• IoT Chip Market: https://www.knowledge-sourcing.com/report/iot-chip-market

• IoT Security Market: https://www.knowledge-sourcing.com/report/iot-security-market

• IoT Application Development Services Market: https://www.knowledge-sourcing.com/report/iot-application-development-services-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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