Cellular IoT Market to grow at a CAGR of 23% from 2022 to 2027|Growing applications in vehicle telematics and fleet management to boost the market growth- Technavio

NEW YORK, July 6, 2023 /PRNewswire/ -- The cellular IoT market is set to grow by USD 8,073.13 million from 2022 to 2027, progressing at a CAGR of 23% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. Implementation of cellular IoT modules in smart city infrastructure and building automation is a key factor driving market growth. The battery-powered devices can connect to the internet more efficiently than previous 2G and 3G technologies due to advancements in NB-LTE-M, NB-IoT, and 5G. This provides various applications in smart cities, including smart parking, streetlights, smart street lighting, traffic sensing, waste management devices, and parking management devices. Furthermore, various pilot projects and public-private partnerships exist in North America and Eastern Europe. Hence, the increasing development of smart city infrastructure and building automation is expected to drive market growth during the forecast period.-Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and a forecast period (2023-2027). Download Sample Report in minutes!

The report on the cellular IoT market provides a holistic update, market size and forecast, trends, growth drivers, challenges, and vendor analysis. 

The cellular IoT market covers the following areas:

• Cellular IoT Market Sizing
• Cellular IoT Market Forecast
• Cellular IoT Market Analysis

Cellular IoT Market 2023-2027 - Market Dynamics

Major Trends

• Growing applications in vehicle telematics and fleet management are a major trend shaping the market.
• The applications enhance performance and connectivity while optimizing asset utilization and are extensively utilized in-vehicle telematics.
• Furthermore, IoT and telematics solutions are being implemented to monitor equipment and on-road assets efficiently in vehicles like cranes and excavators.
• Telematics solution providers are adding cellular IoT into their product offerings, simplifying data collection and analysis for fleet managers and original equipment manufacturers (OEMs).
• Hence, these factors are expected to drive the market growth during the forecast period.

Significant Challenges

• The increasing number of cyber-attacks is a major challenge hampering market growth.
• Connectivity plays a key role in enabling cellular IoT functionality across numerous industries.
• The increasing number of IoT devices connected to cellular networks is making it easier for cybercriminals to illegally take various information from cellular and IoT systems.
• Cloud-based security is an important solution for ensuring the security of cellular IoT deployments.
• For instance, surveillance or delivery drones rely on cloud-based IoT functionality and can process information independently but may transmit data to a cloud server.
• Hence, these factors are expected to restrict the market growth during the forecast period.

Cellular IoT Market 2023-2027: Market Segmentation

The cellular IoT market component (hardware and software), Type (3G, 2G, 4G, and others), and Geography (North America, APAC, Europe, South America, and the Middle East and Africa.

·  The market share growth by the hardware segment will be significant during the forecast period. Hardware devices including sensors, actuators, gadgets, devices, and machines that are programmed for specific applications are getting popular and increasing in demand from various industries. These hardware devices provide real-time data from various devices and sensors. Furthermore, the high data transmission speed of 3G networks helps enterprises to use 3G connectivity M2M modules in various applications. Hence, these factors are expected to drive the segment growth during the forecast period.

This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report

What's New? -

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

Companies Mentioned

• Thales
• AT and T Inc.
• Celplan
• ETM Matteknik AB
• Fibocom Wireless Inc.
• floLIVE
• Huawei Technologies Co. Ltd.
• Intel Corp.
• MediaTek Inc.
• Nordic Semiconductor ASA
• Qorvo Inc.
• Qualcomm Inc.
• Quectel Wireless Solutions Co. Ltd.
• Semtech Corp.
• Shield IoT
• Skyworks Solutions Inc.
• Sony Group Corp.
• Telit IoT Platforms LLC
• Texas Instruments Inc.
• u blox AG
• UNISOC Shanghai Technologies Co. Ltd.
• ZTE Corp.

Vendor Offering

• ETM Matteknik AB - The company offers cellular IoT solutions such as 5G and LTE M2 Wireless Modules.
• Celplan - The company offers cellular IoT solutions such as ETM ADB PLS63 W 2G, 3G, 4G OEM modules.
• Huawei Technologies Co. Ltd. - The company offers cellular IoT solutions such as BroadForward.

Gain instant access to 17,000+ market research reports.

Technavio's SUBSCRIPTION platform

Related Reports:
The 5G Internet of Things (IoT) market size is estimated to grow at a CAGR of 106.67% between 2022 and 2027. The market size is forecast to increase by USD 77,586.17 million. Furthermore, this report extensively covers market segmentation by type (5G non-standalone and 5G standalone), component (hardware, services, platform, and connectivity), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The rising adoption of 5G is a key factor driving the growth of the market during the forecast period.

The narrowband-internet of Things (NB-IoT) market size is estimated to grow at a CAGR of 31.01% between 2022 and 2027. The market size is forecast to increase by USD 1,841.04 million. Furthermore, this report extensively covers market segmentation by end-user (automotive, energy and utilities, healthcare, agriculture, and others), application (smart meters, smart parking, trackers, alarms and detectors, and wearable devices), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The increasing adoption of smart city initiatives and connected devices is a key factor driving the growth of the market during the forecast period.

Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Component
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global cellular IoT market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global cellular IoT market 2017 - 2021 ($ million)

• 4.2 Component Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Component Segment 2017 - 2021 ($ million)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Component

• 6.1 Market segments
• Exhibit 30: Chart on Component - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Component - Market share 2022-2027 (%)

• 6.2 Comparison by Component 
• Exhibit 32: Chart on Comparison by Component
• Exhibit 33: Data Table on Comparison by Component

• 6.3 Hardware - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Hardware - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Hardware - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Hardware - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Hardware - Year-over-year growth 2022-2027 (%)

• 6.4 Software - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Software - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Software - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Component 
• Exhibit 42: Market opportunity by Component ($ million)
• Exhibit 43: Data Table on Market opportunity by Component ($ million)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 44: Chart on Type - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 46: Chart on Comparison by Type
• Exhibit 47: Data Table on Comparison by Type

• 7.3 3G - Market size and forecast 2022-2027 
• Exhibit 48: Chart on 3G - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on 3G - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on 3G - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on 3G - Year-over-year growth 2022-2027 (%)

• 7.4 2G - Market size and forecast 2022-2027 
• Exhibit 52: Chart on 2G - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on 2G - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on 2G - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on 2G - Year-over-year growth 2022-2027 (%)

• 7.5 4G - Market size and forecast 2022-2027 
• Exhibit 56: Chart on 4G - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on 4G - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on 4G - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on 4G - Year-over-year growth 2022-2027 (%)

• 7.6 Others - Market size and forecast 2022-2027 
• Exhibit 60: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by Type 
• Exhibit 64: Market opportunity by Type ($ million)
• Exhibit 65: Data Table on Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 67: Chart on Market share by geography 2022-2027 (%)
• Exhibit 68: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 69: Chart on Geographic comparison
• Exhibit 70: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 71: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 APAC - Market size and forecast 2022-2027 
• Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 83: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 91: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 95: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027 
• Exhibit 103: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027 
• Exhibit 107: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 111: Market opportunity by geography ($ million)
• Exhibit 112: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 113: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 114: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 115: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 116: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 117: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 118: Matrix on vendor position and classification

• 12.3 ETM Matteknik AB
• Exhibit 119: ETM Matteknik AB - Overview
• Exhibit 120: ETM Matteknik AB - Product / Service
• Exhibit 121: ETM Matteknik AB - Key offerings

• 12.4 Fibocom Wireless Inc. 
• Exhibit 122: Fibocom Wireless Inc. - Overview
• Exhibit 123: Fibocom Wireless Inc. - Product / Service
• Exhibit 124: Fibocom Wireless Inc. - Key offerings

• 12.5 Intel Corp.
• Exhibit 125: Intel Corp. - Overview
• Exhibit 126: Intel Corp. - Business segments
• Exhibit 127: Intel Corp. - Key news
• Exhibit 128: Intel Corp. - Key offerings
• Exhibit 129: Intel Corp. - Segment focus

• 12.6 MediaTek Inc.
• Exhibit 130: MediaTek Inc. - Overview
• Exhibit 131: MediaTek Inc. - Product / Service
• Exhibit 132: MediaTek Inc. - Key news
• Exhibit 133: MediaTek Inc. - Key offerings

• 12.7 Nordic Semiconductor ASA 
• Exhibit 134: Nordic Semiconductor ASA - Overview
• Exhibit 135: Nordic Semiconductor ASA - Product / Service
• Exhibit 136: Nordic Semiconductor ASA - Key offerings

• 12.8 Qualcomm Inc.
• Exhibit 137: Qualcomm Inc. - Overview
• Exhibit 138: Qualcomm Inc. - Business segments
• Exhibit 139: Qualcomm Inc. - Key news
• Exhibit 140: Qualcomm Inc. - Key offerings
• Exhibit 141: Qualcomm Inc. - Segment focus

• 12.9 Quectel Wireless Solutions Co. Ltd. 
• Exhibit 142: Quectel Wireless Solutions Co. Ltd. - Overview
• Exhibit 143: Quectel Wireless Solutions Co. Ltd. - Product / Service
• Exhibit 144: Quectel Wireless Solutions Co. Ltd. - Key offerings

• 12.10 Semtech Corp.
• Exhibit 145: Semtech Corp. - Overview
• Exhibit 146: Semtech Corp. - Business segments
• Exhibit 147: Semtech Corp. - Key news
• Exhibit 148: Semtech Corp. - Key offerings
• Exhibit 149: Semtech Corp. - Segment focus

• 12.11 Sony Group Corp.
• Exhibit 150: Sony Group Corp. - Overview
• Exhibit 151: Sony Group Corp. - Business segments
• Exhibit 152: Sony Group Corp. - Key news
• Exhibit 153: Sony Group Corp. - Key offerings
• Exhibit 154: Sony Group Corp. - Segment focus

• 12.12 Telit IoT Platforms LLC 
• Exhibit 155: Telit IoT Platforms LLC - Overview
• Exhibit 156: Telit IoT Platforms LLC - Business segments
• Exhibit 157: Telit IoT Platforms LLC - Key offerings
• Exhibit 158: Telit IoT Platforms LLC - Segment focus

• 12.13 Texas Instruments Inc. 
• Exhibit 159: Texas Instruments Inc. - Overview
• Exhibit 160: Texas Instruments Inc. - Business segments
• Exhibit 161: Texas Instruments Inc. - Key news
• Exhibit 162: Texas Instruments Inc. - Key offerings
• Exhibit 163: Texas Instruments Inc. - Segment focus

• 12.14 Thales Group
• Exhibit 164: Thales Group - Overview
• Exhibit 165: Thales Group - Business segments
• Exhibit 166: Thales Group - Key news
• Exhibit 167: Thales Group - Key offerings
• Exhibit 168: Thales Group - Segment focus

• 12.15 u blox AG
• Exhibit 169: u blox AG - Overview
• Exhibit 170: u blox AG - Business segments
• Exhibit 171: u blox AG - Key offerings
• Exhibit 172: u blox AG - Segment focus

• 12.16 UNISOC Shanghai Technologies Co. Ltd. 
• Exhibit 173: UNISOC Shanghai Technologies Co. Ltd. - Overview
• Exhibit 174: UNISOC Shanghai Technologies Co. Ltd. - Product / Service
• Exhibit 175: UNISOC Shanghai Technologies Co. Ltd. - Key offerings

• 12.17 ZTE Corp.
• Exhibit 176: ZTE Corp. - Overview
• Exhibit 177: ZTE Corp. - Business segments
• Exhibit 178: ZTE Corp. - Key news
• Exhibit 179: ZTE Corp. - Key offerings
• Exhibit 180: ZTE Corp. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 181: Inclusions checklist
• Exhibit 182: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 183: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 184: Research methodology
• Exhibit 185: Validation techniques employed for market sizing
• Exhibit 186: Information sources

• 13.5 List of abbreviations
• Exhibit 187: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base comprises enterprises of all sizes, including over 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio