A new report by TMR Research looks into all possible aspects of the global cellular IoT market through 2025 – trends, market shares, market strategies, growth drivers, restraints, opportunities, regional outlook and key players.
According to the report “Cellular IoT Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025”, Wireless area networks (WAN) will drive the growth prospects of the global market from 2017 to 2025. WAN, possible through cellular networks, is projected to connect majority of the devices.
Among the key drivers of the market are the growing demand for extended network coverage and outsized capacity to can connect countless devices. TMR Research added that the growth of the NB-IoT segment is another driving force behind the global cellular IoT market. Also, the surging deployment of cellular IoT in smart meters and smart grids is likely to support the growth of the market.
On geographical basis, TMR Research has segregated the global market for cellular IoT into four regions: Asia Pacific, Europe, North America, and the Rest of the World. Further impetus to the global cellular IoT market will come from the mushrooming smart city projects in several Asia Pacific countries including India, China, South Korea and Japan.
In the meantime, a RCR Wireless News story has complied four predictions for the cellular IoT market. The first projection made by Berg Insight stated that the top 10 mobile operators globally account for 76% of the cellular IoT market. While Ericsson projected that the number of IoT devices with cellular connections is anticipated to touch 1.5 billion in 2022, Grand View Research estimated that the value of the cellular IoT market will go up to $9.65 billion by 2025 from almost $1.8 billion in 2016.