Cellular IoT Market Growing at 23.34% CAGR to Reach USD 5.31 Billion by 2022

The cellular IoT market is expected to grow from USD 1.26 billion in 2015 to USD 5.31 billion by 2022, at a CAGR of 23.34% during the forecast period driven by growing demand for long-range connectivity and low power consumption drives.

Rising demand for extended network coverage and capacity to accommodate large number of connected devices are expected to drive the market for cellular IoT. However, technology fragmentation and lack of regulation for spectrum allocation is expected to rescript the growth of this market.

Complete report on global cellular IoT market spread across 161 pages, profiling 11 companies and supported with 68 tables and 68 figures is now available at http://www.reportsnreports.com/reports/817821-cellular-iot-market-by-offering-hardware-and-software-type-2g-3g-4g-lte-m-nb-lte-m-nb-iot-and-5g-end-use-application-automotive-transportation-energy-manufacturing-retail-building-automat-st-to-2022.html .

The demand for long-range communication sowing to the increase in demand for connectivity between mobile objects or objects spread out across a wide area drives the growth of NB-IoT market. Moreover, NB-IoT offers low power utilization and extended coverage in comparison to existing technologies such as LoRa and SigFox and is therefore expected to be widely adopted by several industries.

Cellular technologies are now being deployed in smart meter and smart grid for point-to-point communication with individual meters. Moreover, when utility companies opt for cellular communications, they can rely on the mobile operator to provide the network instead of bearing the cost of deploying, operating, and maintaining the entire communications infrastructure themselves. By outsourcing it to mobile operators, companies can reduce both installation costs and implementation time for their smart metering projects.

This report provides valuable insights into ecosystem of this market including chipset manufacturer, and device manufacturer companies. The major players in the cellular-IoT market are Qualcomm Inc. (U.S.), Gemalto N.V. (Netherlands), Sierra Wireless (Canada), U-Blox Holding AG (Switzerland), MediaTek Inc. (Taiwan), Telit Communications PLC (U.K.), ZTE Corporation(China), Mistbase (Sweden), Sequans Communications (France) and Comm Solid GmbH (Germany).

Request a discount on a copy of Cellular IoT Market by Offering (Hardware and Software) , Type (2G, 3G, 4G, LTE–M, NB–LTE–M, NB–IoT, and 5G), End-Use Application (Automotive & Transportation, Energy, Manufacturing, Retail, Building Automation and Smart City) & Geography - Global Forecast to 2022 research report at http://www.reportsnreports.com/contacts/discount.aspx?name=817821 .

Countries such as China, Japan, South Korea, and India are investing heavily for the implementation of IoT in infrastructure which is expected to drive the cellular IoT market in Asia-Pacific. In APAC, many projects are in the initial phase of designing with implementation of some ongoing projects. There are still many projects to be initialized during the forecast period which offers tremendous growth opportunities for the smart solution vendors.

Request a representative sample copy of this research at http://www.reportsnreports.com/contacts/requestsample.aspx?name=817821 .

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