A recent report published by Infinium Global Research on cellular IoT market provides in depth analysis of segments and sub-segments in global as well as regional cellular IoT market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional cellular IoT market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global cellular IoT market. According to report the global cellular IoT market is projected to grow at a CAGR of 21.6% over the forecast period of 2018-2024.
The IoT is a network of physical objects, machines, people and other devices that enable to connect, communications, and exchange data on real time basis for intelligent applications in various services. Devices that are used to connect through network, and obtain information through it, is called cellular IoT (CIoT) devices. Simply, Cellular IoT connects IoT devices using existing cellular networks. The cellular IoT devices consist of smartphones, tablets, consumer electronics, vehicles, motors and sensors.
Emerging applications, such as automotive connectivity, fleet management, healthcare device connectivity, and wearables healthcare equipments, are expected to drive the growth of cellular IoT device market. In addition, CIoT devices find application in a host of other applications, including smart metering, weather monitoring systems, personnel traffic pattern monitoring, infrastructure security systems, flood management, and agricultural management among others. Factors such as fragmentation and strong competition from LPWAN technologies, such as LoRA and SigFox, may limit the market growth of this market for medium term. However, numerous efforts taken to standardize the industry and eminent emerging venues for several important applications of cellular IoT devices are expected to boost the growth of this market in coming year.
The North American region is leading the market in terms of revenue and deployment of CIoT devices as solution vendors and component manufacturers are aggressively pursuing CIoT implementation projects for various applications. Additionally, numerous CIoT developments have been taking place in smart building, agriculture, transportation, and infrastructure which is helping to grow this market in North America region. The European region, is following the North America in terms of generating considerable revenue and deployment. It is witnessing a healthy growth pattern over the forecast period. Cellular connectivity in IoT applications ensures massive deployments of CIoT devices in several sectors such as fleet tracking and management of capillary networks and smart buildings, owing to these application Asia Pacific region is expected to witness highest growth in the. In addition, the growing demand of CIoT devices in several field such as transportation, agriculture, medical, manufacturing and production, and other industrial applications are the major factors driving market growth over the forecast period in Asia-Pacific.
The report on global cellular IoT market covers segments such as, component, type and end-user. On the basis of component the global cellular IoT market is categorized into hardware and software. On the basis of type the global cellular IoT market is categorized into 2G, 3G, 4G, LTE-M, NB-LTE-M, NB-IOT and 5G. On the basis of end-user the global cellular IoT market is categorized into agriculture, automotive & transportation, consumer electronics, energy, environmental monitoring, healthcare, retail, smart cities and others.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global cellular IoT market such as, CommSolid GmbH, MediaTek, Inc., Sequans Communications S.A, Sierra Wireless, Inc., U-Blox Holding AG, Mistbase Communication System(ARM Holdings plc), Gemalto NV, Qualcomm Technologies, Inc., Texas Instruments Incorporated and ZTE Corporation.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global cellular IoT market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of cellular IoT market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the cellular IoT market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the cellular IoT market to understand the present and future trends in this market and formulate their strategies accordingly.
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