Cellular IoT Market: Snapshot
As more and more devices are getting connected together, the internet of things (IoT) architecture is expanding. In the future, it is estimated that all the internet devices will be connected. IoT remains the way to deliver machine to machine and device to person communication on a large scale. Most of the devices are estimated to be connected via wireless area networks (WAN), which are made possible by cellular networks. This is projected to drive the growth prospects of the global cellular IoT market in the period from 2017 to 2025.
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In the IoT architecture, connectivity plays a major role and hence, cellular operators will be in a position to add value to the IoT market. Various roles can be played by cellular operators in the IoT market. This is a deciding factor for the value that a cellular operator can add to the IoT architecture. With so many devices communicating with each other and people communicating with machines, huge amount of data will be generated and this will create a need for data storage, data transfer, and data interpretation in real time. In addition to this, it is essential that data storage and data transfer can be done at minimal cost. This is fulfilled by cellular networks. Different cellular technologies are evolving in terms of functionality and new radio access technologies to form an effective solution and offering tailored IoT services. These cellular technologies include: WCDMA, GSM, LTE, and 5G.
Global Cellular IoT Market: Overview
Several significant technological advancements in the area of cellular IoT will widen the horizons of the global cellular IoT market over the coming period. While the Internet connects people, IoT connects all devices and objects to the Internet. By connecting various ‘smart’ devices, cellular IoT can collect sensor data from them. Some of these connected devices can be industrial equipment, vehicle electrical systems, home alarm systems, and even refrigerators and air conditioners.
The report covers key trends, growth drivers, challenges, and opportunities in the global market for cellular Iot. The major market players are discussed in the report, wherein their strengths, weaknesses, market strategies, market shares, and product portfolios are studied, in addition to a SWOT analysis. The market forecasts, market attractiveness, supply and demand ratio, competitive landscape, regional markets, and technological advancements in the field of cellular IoT have also been revealed.
Global Cellular IoT Market: Drivers and Restraints
The key growth drivers of the global cellular IoT market are the increasing demand for extended network coverage and large capacity that can connect innumerable devices. Conventional cellular options such as 4G and LTE networks require high amounts of power. Moreover, these networks cannot be incorporated with several applications wherein only a small amount of data is transmitted inconsistently. Some examples are gas or electricity consumption and meters used for reading water levels. Cellular IoT, on the other hand, is capable of meeting the demands of low-power and long range applications. The large number of applications for cellular IoT will also ensure market growth.
Widespread awareness about environmental hazards and excessive energy consumption have been fuelling the need for energy management, which is offered by cellular IoT. The growing demand for green, eco-friendly homes is another key growth driver of the market. The increasing deployment of cellular IoT in smart meters and smart grids for inter-connectivity within individual meters is likely to aid the growth of the market. On the contrary, high fragmentation in terms of technology and inadequate regulation for spectrum allocation might pose a threat to market expansion.
Another driving force of the market is the growth of the NB-IoT segment. NB-IoT enables low consumption of power and extends greater coverage when compared to prevailing technologies such as SigFox. Therefore, they are slated to experience an upsurge in terms of demand.
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Global Cellular IoT Market: Regional Outlook
The global market for cellular IoT can be segmented into Asia Pacific, Europe, North America, and the Rest of the World on the basis of geography. The North America segment furnishes a multitude of opportunities for the expansion of the cellular IoT market as numerous IoT developments have been taking place in smart building, agriculture, transportation, and infrastructure. The U.S. has been carrying out large-scale investments in numerous sectors for the implementation of projects such as Smart America, wherein IoT will aid the efficiency of healthcare, manufacturing, transportation, security, energy conservation, and emergency services.
The sprouting of smart cities in various countries of Asia Pacific such as India and Japan will provide further impetus to the global cellular IoT market. South Korea, China, Japan, and India are investing massively in the implementation of IoT in infrastructure, which will contribute towards the growth of the market.
Companies Mentioned in the Report
Some of the major companies operating in the global market for cellular IoT are U-Blox Holding AG, Gemalto N.V., CommSolid GmbH, ZTE Corporation, MediaTek Inc., Qualcomm Inc, Sierra Wireless, Sequans Communications, and Telit Communications PLC.
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