Cellular IoT Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2033
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With a linear growth pattern, the Cellular
IoT Market is expected to reach a value of USD 4,143.6 million in 2023 and
increase at a compound annual growth rate (CAGR) of 24.7% from 2023 to 2033,
when it is expected to reach USD 27,377.6 million.
Devices can now connect to the internet via cellular
networks thanks to a technology known as cellular IoT (Internet of Things).
This makes it possible for devices to be online even in places without Wi-Fi or
other wireless internet connection.
The need is driven by the crucial function that cellular IoT
modules play in guaranteeing uninterrupted connectivity and data transmission
within this network. The market for cellular Internet of things (IoT) modules
has expanded rapidly due to a number of factors that have sped up the
deployment of IoT devices in various industries.
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The integration of digital technologies to build intelligent
industrial processes is emphasized by the Industry 4.0 revolution. Cellular IoT
modules provide predictive maintenance, real-time production line monitoring,
and overall process optimization by facilitating machine-to-machine
communication. IoT devices are being adopted by industries more and more to
facilitate asset management and remote monitoring.
Cellular IoT modules for precision farming enable the
monitoring of crop health, weather patterns, and soil conditions, which is
beneficial to the agricultural sector. Higher yields, decreased resource waste,
and better productivity are the results of the data-driven strategy. Hospital
asset tracking and remote patient monitoring are two uses for cellular IoT
modules in the healthcare industry. Secure transmission of critical patient
data is essential for better patient care and effective resource management.
Cellular IoT Market Dynamics
An increasing number of IoT applications in a variety of
industries, such as smart cities, logistics, industrial automation, healthcare,
and agriculture, are propelling the cellular IoT market. Predictive
maintenance, smart meters, remote monitoring, and asset tracking are some of
these uses.
Cellular IoT is expanding because of advancements in
cellular technology, including the introduction of 5G networks and Low-Power
Wide-Area Network (LPWAN) technologies like NB-IoT and LTE-M. For Internet of
Things devices, these technologies provide better coverage, reduced battery
usage, and higher data rates.
Cellular IoT Market
Competitive Outlook
Qualcomm,
Huawei, Sierra Wireless, Gemalto, Thales, and Tel
Market Segmental
Analysis
By
Component
·
Hardware
·
Software
·
Device Management
·
Signal Processing
·
Services
By
Technology
·
2G
·
3G
·
4G
·
LTE-M
·
NB-LTE-M
·
NB-IoT
·
5G
By
End-User
·
Agriculture
·
Automotive & Transportation
·
Consumer Electronics
·
Energy
·
Environment Monitoring
·
Healthcare
·
Retail
·
Smart Cities
·
Others
Country Scope
U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux;
Nordic Countries; Russia; China; India; Japan; South Korea; Australia;
Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South
Africa; Nigeria
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Frequently Asked Questions
1.
What is the market size of Cellular IoT market
in 2024?
2.
Which are the top companies operating within
the market?
3.
Which region dominates the Cellular IoT
market?
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