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The cellular IoT market is expected to grow from USD 1.26 billion in 2015 to USD 5.31 billion by 2022, growing at a CAGR of 23.34% during the forecast period. The base year considered for the study is 2015, and the market size forecast is given for the period between 2016 and 2022
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Cellular IoT Market Size, Analysis, Competitive Landscape, And Segment Forecasts, 2018-2022 “The cellular IoT market is expected to grow from USD 1.26 billion in 2015 to USD 5.31 billion by 2022, growing at a CAGR of 23.34% during the forecast period. The base year considered for the study is 2015, and the market size forecast is given for the period between 2016 and 2022.” The Cellular IoT Market is expected to grow from USD 1.26 billion in 2015 to USD 5.31 billion by 2022, at a CAGR of 23.34% between 2016 and 2022. The growing demand for low power consuming devices and rising demand for extended network coverage area drives the demand for cellular IoT technology. Moreover, growing demand for end–to–security also contribute to the growth of the market. This report segments the cellular IoT market based on offering, type, end-use application, and geography. On the basis of offering, the market has been divided into hardware and software. The hardware segment held the largest market in 2015. The advanced chipsets for cellular IoT consume less power and provide reliable and secure connection for various IoT applications. The advantages of these modules in comparison to other technologies such as LoRA, SigFox, and so on drive the demand for cellular connectivity in IoT applications. The cellular IoT market for software is expected to grow at the highest rate between 2016 and 2022. Network enhancement is one of the major factors driving the growth of software in market. In terms of type, the 2G market held the largest market share in 2015. 2G is widely adopted for IoT applications because of low cost of chipset, and majority of connected devices in massive IoT require low data transfer rate which makes 2G an ideal connectivity technology in comparison to 3G, 4G, and others. However, NB-IoT is expected to grow at the highest rate between 2017 and 2022. The demand for longer-range communications due to the increase in the demand for connectivity between mobile objects or objects spread out across a wide area drives the growth of NB-IoT market. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=232497754 On the basis of industry, energy held the largest market share in 2015. The increasing adoption of smart meters
and smart grids drives the growth of cellular IoT modules in energy industry. However, building automation is expected to grow at the highest rate between 2016 and 2022. The demand for energy management, along with the increasing demand for green homes, drives the growth of building automation market. 2G market to hold the largest share of the cellular IoT market 2G is widely adopted for IoT applications because of low cost of chipset and majority of connected devices in massive IoT require low data transfer rate which makes 2G an ideal connectivity technology in comparison to 3G, 4G and others. With growth in smart grid projects in countries such as China, Japan and South Korea, adoption of 2G is expected to be higher, especially in smart meters, which is expected to drive the 2G market. Browse Full Research Report @ https://www.marketsandmarkets.com/Market- Reports/cellular-iot-market-232497754.html Building automation expected to grow at the highest rate in between 2016 and 2022 The demand for energy management, along with the increasing demand for green homes drives the growth of the building automation market. Moreover, low power consumption is an important factor that drives the growth adoption of cellular IoT modules for building automation. Also, smart city projects in North America and Asia-Pacific regions are expected to drive building automation market. North America to hold the major market share for cellular IoT market during the forecast period North America, which comprises the U.S., Mexico, and Canada, dominates the cellular IoT market on a global level. North America presents a huge opportunity for cellular IoT connectivity considering the IoT developments taking place in infrastructure, smart building, utilities, agriculture, and transportation. The U.S. government has been investing significant amounts toward the implementation of IoT across various sectors such as infrastructure and utilities under programs such as Smart America. The Smart America Project exhibits the manner in which IoT can improve transportation, emergency services, healthcare, security, energy conservation, and manufacturing. This is expected to bring huge opportunity for cellular IoT in North America. The major players in the cellular-IoT market are Qualcomm Inc. (U.S.), Gemalto N.V. (Netherlands), Sierra Wireless (Canada), U-Blox Holding AG (Switzerland), MediaTek Inc. (Taiwan), Telit Communications PLC (U.K.), ZTE Corporation (China), Mistbase (Sweden), Sequans Communications (France) and CommSolid GmbH (Germany).
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