In a recent published report, Kenneth Research has updated the market report for Cellular IoT Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Cellular IoT Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
Global Cellular IoT Market Overview
The Internet is a collection of computers connected together to share resources and information. Internet connects only people whereas the Internet of Things (IoT) connects all the things/devices/objects into the internet. IoT has caused the revolutionary change of “connecting people” to “connecting everything” globally. With the help of cellular IoT, billions of IoT enabled devices can be connected to the internet across the globe. Advanced cellular IOT technologies include LTE-M, NB-LTE-M, NB-IoT, and 5G. Cellular IoT provides reliable connections of IoT devices, global coverage, and low-cost hardware which were required for cellular IOT connections.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
Market Size and Forecast
The cellular IOT market, in terms of value, is estimated at around USD 1.7 Billion in 2017 and expected to grow rapidly during the forecasted period at a CAGR of around 27.10%. Numerous technology companies are investing in cellular IOT market as it has a tremendous potential to transform machine to machine and machine to human communication. It was estimated that by the end of the forecasted period there will be more than 45 billion connected devices in the world, out of which 30 Billion will be IoT connected.
North America holds the largest market share of cellular IoT in terms of revenue as major IoT vendors are investing in the field of IoT ecosystem. Countries in North American such as U.S. and Canada dominate the cellular IoT market across the globe. IoT developments taking place in infrastructure, transportation, smart building, utilities, and agriculture are also trigger the growth of the cellular IoT market in this region. The American government is investing great capital in IoT cellular area in order to create more jobs, new business opportunities, and to bring socio-economic benefits to America.
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The Internet of things is spreading its wings in various sectors such as transportation, emergency services, security, manufacturing, and healthcare. The Asia Pacific is anticipated to be the fast-growing market of cellular IoT as countries such as China and India, as they have a large pool of semiconductor dealers. It was estimated that the Asia Pacific will account for almost 7.0 Billion connections in 2027. The size of the potential market for cellular IoT in this region also attracts international companies to enter and invest in the Asia Pacific cellular IoT market. Governments in Asian countries such as India are also taking interest in cellular IOT market and initiating numerous smart infrastructure projects.
In India, Japan, China, Korea, Malaysia, and Singapore governments have promoted national cellular IoT strategies, which further expected to encourage the growth of the cellular IoT market in these countries. Europe is expected to show lucrative growth during the forecasted period as various cellular IOT startups are establishing their feet in this region. The European market for cellular machine-to-machine (M2M) communications will grow rapidly during the forecasted period due to the promotion of new internet of things (IoT) based LTE-M and NB-IoT networks and services.
Key players
Qualcomm Incorporated
Sierra Wireless
Gemalto NV
Telit Communication PLC
Texas Instruments
Intel
ZTE Corporation
Other Notable Players
Business Questions answer by the report
- How will the market drivers, restraints and opportunities affect the market dynamics?
- What will be the market size in terms of value and volume and market statistics with detailed classification?
- Which segment dominates the market or region and one will be the fastest growing and why?
- A comprehensive survey of the competitive landscape and the market participant players
- Analysis of strategy adopted by the key player and their impact on other players.
Customization Scope for the Client
Client satisfaction is our first and last priority. And that’s why Kenneth Research offers customization according to Company’s specific needs. The following customization options are available for the report:
Additional Company Information
- Additional company detail analysis.
- Additional country analysis.
- Detailed segment analysis.
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