LTE IoT Market, 2023 by Technology (NB-IoT and LTE-M), Service (Professional and Managed), Industry (Manufacturing, Energy, Utilities, Transportation and Logistics, Healthcare, and Agriculture)
DUBLIN, March 1, 2019 /PRNewswire/ -- The "LTE IoT Market by Technology (NB-IoT and LTE-M), Service (Professional Services and Managed Services), Industry (Manufacturing, Energy and Utilities, Transportation and Logistics, Healthcare, and Agriculture), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The Long-Term Evolution (LTE) Internet of Things (IoT) market size is expected to grow from USD 800 million in 2018 to USD 2800 million by 2023, at a Compound Annual Growth Rate (CAGR) of 28.4% during the forecast period.
The growth of connected devices and the need for unique and defined network qualities are the major growth factors for the LTE IoT market. However, operational downtime due to network infrastructure deployment could restrain market growth.
Managed services segment to grow at a higher CAGR during the forecast period
Managed service providers operating in this market deliver their expertise in managing various operating activities (including infrastructure management, security operations, and cloud operations) to clients, enabling them to launch various Machine-to-Machine (M2M) offerings rapidly, at a variable cost. With global coverage, the managed service provider offers customers comprehensive and cost-effective solutions. These managed service providers leverage partnerships with prime satellite and mobile networks to offer high-end managed services to application providers, system integrators, and end-user clients.
Europe to hold the largest market size and APAC to grow at the highest CAGR during the forecast period
Europe is leading the LTE IoT market due to the widespread adoption of the LTE technology for enterprises' IoT applications. The region is leading in terms of LTE IoT coverage area. Huawei and Vodafone opened an open lab in Newbury, UK, for R&D of LTE IoT technologies and applications. The stage has been set for the widespread deployment of LTE IoT by cellular operators in the UK and rest of Europe. Various pre-commercial trials and plots have been deployed by Mobile Network Operators (MNOs) across Europe.
APAC has witnessed advanced and dynamic adoption of new technologies and has always been a lucrative market for telecom service providers. APAC is expected to grow at the highest CAGR during the forecast period in the LTE IoT market.
APAC includes countries such as Australia, New Zealand, Japan, and Singapore, who act as the early adopters of smart technology. In addition, these countries possess developed technological infrastructure, which promotes increasing adoption of telecom services and applications in this region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the LTE IoT Market
4.2 Market Top 3 Industries and Regions
4.3 Market By Region
4.4 Market Investment Scenario
5 Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Growth in the Number of Connected Devices
5.1.1.2 Need for Unique and Defined Network Qualities
5.1.1.3 Rise in Need for Long-Range Connectivity Between IoT Applications
5.1.2 Restraints
5.1.2.1 Operational Downtime Due to Upgradation of Network Infrastructure
5.1.3 Opportunities
5.1.3.1 Rise in Demand of Secured Connectivity for IoT Applications
5.1.4 Challenges
5.1.4.1 Additional Requirements for Deployment of LTE IoT Technology
5.1.4.2 High Initial Cost of Deployment
5.2 Use Cases
5.2.1 China Mobile
5.2.2 Telefonica
5.2.3 T-Mobile
5.2.4 Cosmote
5.2.5 Telia
6 LTE IoT Market, By Technology
6.1 Introduction
6.2 LTE-M
6.2.1 Growing Need for Managing High-Level IoT Applications in Real Time to Drive the Growth of LTE-M Technology
6.3 NB-IoT
6.3.1 Need for Managing Higher Number of Applications at A Lower Cost to Drive the Growth of NB-IoT Technology
7 LTE IoT Market, By Service
7.1 Introduction
7.2 Professional Services
7.2.1 Increasing Demand for LTE IoT Technologies Expected to Fuel the Growth of Professional Services
7.3 Managed Services
7.3.1 Need for Expertise During Integration of Two Different Technologies on the Same Platform to Generate the Demand for Managed Services
8 LTE IoT Market, By Industry
8.1 Introduction
8.2 Manufacturing
8.2.1 Asset Tracking and Management
8.2.1.1 Challenges Relate to Asset Management to Fuel the Adoption of LTE IoT Technology
8.2.2 Predictive Maintenance
8.2.2.1 Increasing Maintenance Cost Leading to Adoption of Predictive Maintenance
8.2.3 Inventory Management
8.2.3.1 Growing Need for Smart Inventory Management to Drive the Growth of LTE IoT Market
8.2.4 Emergency and Incident Management
8.2.4.1 Rising Concerns About Public Safety Driving the Growth of LTE IoT Technologies
8.2.5 Others
8.3 Energy and Utilities
8.3.1 Oil and Gas Management
8.3.1.1 Rising Concerns Related to Real-Time Application Management to Drive the Growth of LTE IoT Technologies
8.3.2 Electricity Grid Management
8.3.2.1 Need for Smart Application to Reduce Losses to Drive the Demand for Electricity Grid Management
8.3.3 Water and Wastewater Management
8.3.3.1 Increasing Adoption of Smart Water Metering Applications to Drive the Growth of LTE IoT Technologies
8.4 Transportation and Logistics
8.4.1 Remote Monitoring
8.4.1.1 Need for Real-Time Information to Monitor Vehicle and Material Condition Driving the Growth of LTE IoT Technologies
8.4.2 Security and Surveillance
8.4.2.1 Increasing Concerns About Safety to Drive the Adoption of IoT LTE Technology for Security and Surveillance
8.4.3 Smart Parking
8.4.3.1 Increasing Number of Connected Vehicles to Drive the Growth of Smart Parking Application
8.4.4 Supply Chain Management
8.4.4.1 Growing Adoption of RFID and Tracking Devices to Drive the Growth of LTE IoT for Supply Chain Management
8.5 Healthcare
8.5.1 Increasing Adoption of Monitoring Devices to Fuel the Demand for LTE IoT Technologies in Healthcare Industry
8.6 Agriculture
8.6.1 Increasing Adoption on Sensors and IoT Devices in Agriculture to Drive the Demand for LTE IoT Technologies
9 LTE IoT Market, By Region
10 Competitive Landscape
10.1 Overview
10.2 Market Ranking
10.3 Competitive Scenario
10.3.1 New Product Launches and Enhancements
10.3.2 Partnerships, Collaborations, and Agreements
11 Company Profiles
11.1 Ericsson
11.2 Vodafone Group
11.3 Telstra
11.4 Sierra Wireless
11.5 Puresoftware
11.6 Sequans Communications
11.7 Orange
11.8 T Mobile
11.9 Telus
11.10 Mediatek
11.11 Athonet
11.12 Netnumber
11.13 Telensa
11.14 Actility
11.15 Link Labs
For more information about this report visit https://www.researchandmarkets.com/research/jnq942/lte_iot_market?w=5
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