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Cellular IoT Market

Cellular IoT Market Size by Component Type (Hardware, Software, and Services), Technology (2G, 3G, 4G, 5G, LTE-M, NB-LTE-M, and NB-IoT), Application (Agriculture, Manufacturing, Environment, Energy and Utilities, Retail, Healthcare, Industrial, Automotive and Transportation, Smart Cities, Consumer Electricals, and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13654
  • Published Date: Aug, 2023
  • Pages: 237
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global cellular IoT market was valued at USD 4 billion in 2022 and grew at a CAGR of 20% from 2023 to 2032. The market is expected to reach USD 24.76 billion by 2032. The increasing demand for smart homes and offices will drive the growth of the global cellular IoT market.

Market Introduction:

Most cell phones, smartphones, and dial-up devices are connected to the internet via the cellular network. It is a wireless network that uses a radio antenna. Physical objects or things integrated with sensors, software, and other technologies are called the Internet of Things (IoT). The purpose is to enable communication and data sharing with other devices and systems. When this communication and data exchange happens on a cellular network, it is called cellular IoT. The Internet of Things (IoT) is functional with cellular technology used for smartphones. Cellular IoT enables remote monitoring and control of devices. It is a cost-effective and accessible technology. Smart appliances, smart cards, smart cities, and security systems are all examples of cellular IoT in action. Cellular IoT also allows Flexibility in deployment. It offers better coverage and is reliable. Technological advancements ensure privacy, safety and security. It is easy to install, operate and maintain.

Cellular IoT Market Size

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Recent Development
  • July 2023 - Soracom, a global virtual IoT network operator owned by KDDI, recently announced a cooperation with Skylo Technologies, a cellular-IoT satellite operator based in the US.
  • August 2023 - Sequans Communications, a top inventor in 5G and 4G cellular Internet of Things (IoT) chips and modules, will be acquired by Renesas Electronics, according to the company's announcement. The strategic move intends to strengthen Renesas' position in the expanding IoT sector and broaden its connectivity product offerings. Sequans Communications is valued at $249 million in the acquisition agreement. Renesas aims to maximize the potential of IoT technology across various applications by incorporating Sequans' cutting-edge cellular connectivity solutions and intellectual property into its core product lineup, which includes microcontrollers, microprocessors, analogue, and mixed-signal front ends. The relocation will facilitate Renesas' foray into the Wide Area Network (WAN) market, which will accommodate various data rate needs.

Market Dynamics:

Drivers

The increasing fiscal expenditure towards smart city development projects – smart cities are automated and digitized urban agglomerates that use technology like IoT devices to collect data for efficient city administration to offer high-quality and seamless public utilities. IoT devices enable smart infrastructure, waste management, transportation, governance and other utilities in a smart city. IoT is a crucial aspect of a smart city project. The increasing fiscal expenditure to develop smart cities to meet the needs of the growing urban population and improve quality of life will propel the cellular IoT market. The increasing demand for smart homes and offices from individuals and commercial establishments will also propel the market's growth.

Restraints:

Data privacy and security concerns – the IoT devices market has grown exponentially, and the adoption of these devices has been fast-paced. However, the regulations governing the manufacture, collection, storage and exchange of data have lagged, creating avenues for private market players to exploit consumers. IoT devices' highly automated, digitized, and online nature increases the risk of cyberattacks, raising concerns over consumers' safety, security and privacy. Data security and safety concerns alienate a significant proportion of the population from adopting IoT devices, which will limit the market's growth.

Opportunities:

The improving cellular network coverage – the favourable initiatives of the government and private players to improve cellular network coverage to offer data accessibility to remote corners of the world has played a positive role in the global cellular IoT market's growth. Furthermore, the telecom industry reforms have decreased data connectivity prices, making it more affordable for a larger audience and opening up new market avenues for cellular IoT devices. The increasing ownership of smart connected devices and digitization of global economies will contribute significantly to the growth of the cellular IoT market. The introduction of NB-IoT designed primarily for IoT devices is an example of the growing innovation in the sector, which will offer lucrative opportunities for the market's development.

  • April 2023 - An NB-IoT chipset was unveiled by Renesas Electronics Corporation, a leading provider of cutting-edge semiconductor technologies for the Indian market. The brand-new RH1NS200 is an LTE NB-IoT modem chipset that is made to perform without a hitch on the networks of all significant Indian telecom providers. It is the perfect solution for the Indian smart metering market, which is predicted to reach 250 million units1 during the following five years, according to certain estimations. Customers can use it to construct full NB-IoT modules to meet "Make in India" standards. Numerous applications, including asset tracking, lighting, security, and others, can use the new chipset. The RH1NS200 chipset considerably increases battery life with its incredibly low power consumption of just 1uA while in deep sleep mode.
Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific emerged as the most significant global cellular IoT market, with a 42% market revenue share in 2022.

The increasing fiscal expenditure on the development of smart cities will significantly contribute to the regional market's growth. Furthermore, the increasing disposable income contributes to the rising demand for smart homes and offices, augmenting the market's growth. The increasing demand for smart cars and the growing adoption of smart mobility solutions will contribute to the market's growth. The rising push for better connectivity through improved regulations and the rollout of positive government schemes for wider cellular network coverage will bode well for the market. Furthermore, the growing automation and digitization, driven by government authorities, will propel the market's growth. 

Asia Pacific Region Cellular IoT Market Share in 2022 - 42%

 

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  • August 2023 - By connecting more than 20 million devices with its Internet of Things (IoT) solutions, Airtel Business, the B2B branch of Bharti Airtel, becomes India's first ICT service provider. With secure private networks for data transmission, Airtel's IoT solutions serve a variety of industries, including the automotive, energy, utilities, logistics, and manufacturing ones.
Component type Segment Analysis

The component type segment is divided into hardware, software and services. The hardware segment dominated the market, with a market share of around 48% in 2022. Hardware describes the physical components of IoT devices and the machinery that allows them to carry out their main activities. IoT hardware refers to the observable parts and objects that enable connectivity. Smart gadgets, sensors, chips, and cables are a few examples of IoT hardware. IoT sensors are the most significant component of IoT devices and contribute to the segment's dominance in the market.

  • July 2023 - With a 42% market share and 30% growth across nine of the world's top ten important regions, Qualcomm lead the mobile IoT chipset market. PC, router/CPE, and industrial were the top three uses for 5G during the quarter, with China serving as the primary market for cellular IoT module chipset consumption. With a focus on premium 4G and 5G solutions for industries including retail, automotive, industrial robots, and smart cities, Qualcomm has been expanding the range of IoT chipsets it offers. Additionally, it is working with several industry application and technology suppliers, including Microsoft, ZTE, BMW, and Bosch, to concentrate on the 5G AIoT segment, also known as the high-value artificial intelligence and 5G IoT segment.
Technology Segment Analysis

The technology segment is divided into 2G, 3G, 4G, 5G, LTE-M, NB-LTE-M, and NB-IoT. The NB-IoT segment dominated, with a market share of around 36% in 2022. Many new IoT devices and services are based on NB-IoT, a low-power wide area network. NB-IoT offers effective bandwidth utilization, prolonged battery life, and dependable connectivity. It is also cost-effective, reliable and secure. It has various applications in multiple industries, from industrial and automotive to healthcare and retail. It also can offer remote area connectivity in isolated rural regions or countryside. Furthermore, NB-IoT allows multiple connections or devices without comprising communication or functions. Low cost and low power consumption are selling points for this technology.

  • March 2023 - New X300 Compact Gateway IoT Solution from Lantronix Inc. The new X300 Cellular Compact IoT Gateway Solution from Lantronix combines IoT gateway hardware with a premium services subscription, including centralized device management, integrated cellular data, enhanced device security, and expert technical support in a single package, making it ideal for secure mission-critical applications. To successfully implement IoT solutions, Lantronix is dedicated to offering customers turnkey IoT solutions that effectively address their connection and remote device management concerns.
Application Segment Analysis

The application segment is divided into agriculture, manufacturing, environment, energy and utilities, retail, healthcare, industrial, automotive and transportation, smart cities, consumer electricals, and others. The automotive and transportation segment dominated, with a market share of around 26% in 2022. The rising demand for smart vehicles and smart urban transportation solutions will drive market growth. IoT devices in cars gather and evaluate information about the physical and mental health of the driver, allowing for the identification of driving patterns and affecting road safety. Similarly, Smart sensors have enabled organizations to efficiently track assets, plan traffic flows, and improve logistical operations in the logistics and transportation sector. Fleet managers can track fuel consumption, plan routes more efficiently, and schedule repairs using IoT devices. IoT devices can improve efficiency, production, and safety in the automotive industry, contributing to the sector's growth.

  • July 2023 - Cavli Wireless (Cavli), a participant in the cellular IoT ecosystem, closed a USD 10 million Series A investment from international investors. Chiratae Ventures and Qualcomm Ventures took the lead in the funding round. Cavli creates and produces cellular modules with integrated eSIM and global connection in 4G and 5G technologies. The startup provides IoT solutions to goods manufacturers in more than 30 nations. The company can solidify its position in the IoT industry by broadening its product offering, strengthening its R&D capabilities, and extending its global presence. Cavli wants to invest in cutting-edge technologies like 5G with edge processing capabilities to address the worldwide automotive and industrial sectors.
Some of the Key Market Players:
  • Ericsson AB
  • Gemalto NV
  • Mediatek Inc.
  • Qualcomm Incorporated
  • Sequans Communication
  • Sierra Wireless
  • Telit Communications PLC
  • Texas Instruments Incorporated
  • U–Blox Holding AG
  • ZTE Corporation

Report Description: 

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 4 Billion
Market size value in 2032 USD 24.76 Billion
CAGR (2023 to 2032) 20%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Component Type, Technology and Application

Frequesntly Asked Questions

As per The Brainy Insights, the size of the global cellular IoT market was valued at USD 4 billion in 2022 to USD 24.76 billion by 2032.

Global cellular IoT market is growing at a CAGR of 20% during the forecast period 2023-2032.

The market's growth will be influenced by the increasing fiscal expenditure towards smart city development projects.

Data privacy and security concerns could hamper the market growth.

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1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis by Component Type
          4.3.2. Market Attractiveness Analysis by Technology
          4.3.3. Market Attractiveness Analysis by Application
          4.3.4. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. The increasing fiscal expenditure towards smart city development projects
    5.3. Restraints
          5.3.1. Data privacy and security concerns
    5.4. Opportunities
          5.4.1. The improving cellular network coverage
    5.5. Challenges
          5.5.1. The lack of standard regulations

6. Global Cellular IoT Market Analysis and Forecast, By Component Type
    6.1. Segment Overview
    6.2. Hardware
    6.3. Software
    6.4. Services

7. Global Cellular IoT Market Analysis and Forecast, By Technology
    7.1. Segment Overview
    7.2. 2G
    7.3. 3G
    7.4. 4G
    7.5. 5G
    7.6. LTE-M
    7.7. NB-LTE-M
    7.8. NB-IoT

8. Global Cellular IoT Market Analysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Agriculture
    8.3. Manufacturing
    8.4. Environment
    8.5. Energy and Utilities
    8.6. Retail
    8.7. Healthcare
    8.8. Industrial
    8.9. Automotive and Transportation
    8.10. Smart Cities
    8.11. Consumer Electricals
    8.12. Others

9. Global Cellular IoT Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Cellular IoT Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Cellular IoT Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Ericsson AB
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Gemalto NV
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Mediatek Inc.
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Qualcomm Incorporated
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Sequans Communication
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Sierra Wireless
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Telit Communications PLC
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Texas Instruments Incorporated
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. U–Blox Holding AG
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. ZTE Corporation
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
 

List of Table

1. Global Cellular IoT Market, By Component Type, 2019-2032 (USD Billion) 

2. Global Hardware Cellular IoT Market, By Region, 2019-2032 (USD Billion) 

3. Global Software Cellular IoT Market, By Region, 2019-2032 (USD Billion) 

4. Global Services Cellular IoT Market, By Region, 2019-2032 (USD Billion) 

5. Global Cellular IoT Market, By Technology, 2019-2032 (USD Billion) 

6. Global 2G Cellular IoT Market, By Region, 2019-2032 (USD Billion) 

7. Global 3G Cellular IoT Market, By Region, 2019-2032 (USD Billion) 

8. Global 4G Cellular IoT Market, By Region, 2019-2032 (USD Billion) 

9. Global 5G Cellular IoT Market, By Region, 2019-2032 (USD Billion) 

10. Global LTE-M Cellular IoT Market, By Region, 2019-2032 (USD Billion) 

11. Global NB-LTE-M Cellular IoT Market, By Region, 2019-2032 (USD Billion) 

12. Global NB-IoT Cellular IoT Market, By Region, 2019-2032 (USD Billion) 

13. Global Cellular IoT Market, By Application, 2019-2032 (USD Billion) 

14. Global Agriculture Cellular IoT Market, By Region, 2019-2032 (USD Billion) 

15. Global Manufacturing Cellular IoT Market, By Region, 2019-2032 (USD Billion) 

16. Global Environment Cellular IoT Market, By Region, 2019-2032 (USD Billion) 

17. Global Energy and Utilities Cellular IoT Market, By Region, 2019-2032 (USD Billion) 

18. Global Retail Cellular IoT Market, By Region, 2019-2032 (USD Billion) 

19. Global Healthcare Cellular IoT Market, By Region, 2019-2032 (USD Billion) 

20. Global Industrial Cellular IoT Market, By Region, 2019-2032 (USD Billion) 

21. Global Automotive and Transportation Cellular IoT Market, By Region, 2019-2032 (USD Billion) 

22. Global Smart Cities Cellular IoT Market, By Region, 2019-2032 (USD Billion) 

23. Global Consumer Electricals Cellular IoT Market, By Region, 2019-2032 (USD Billion) 

24. Global Others Cellular IoT Market, By Region, 2019-2032 (USD Billion) 

25. Global Cellular IoT Market, By Region, 2019-2032 (USD Billion) 

26. North America Cellular IoT Market, By Component Type, 2019-2032 (USD Billion) 

27. North America Cellular IoT Market, By Technology, 2019-2032 (USD Billion) 

28. North America Cellular IoT Market, By Application, 2019-2032 (USD Billion) 

29. U.S. Cellular IoT Market, By Component Type, 2019-2032 (USD Billion) 

30. U.S. Cellular IoT Market, By Technology, 2019-2032 (USD Billion) 

31. U.S. Cellular IoT Market, By Application, 2019-2032 (USD Billion) 

32. Canada Cellular IoT Market, By Component Type, 2019-2032 (USD Billion) 

33. Canada Cellular IoT Market, By Technology, 2019-2032 (USD Billion) 

34. Canada Cellular IoT Market, By Application, 2019-2032 (USD Billion) 

35. Mexico Cellular IoT Market, By Component Type, 2019-2032 (USD Billion) 

36. Mexico Cellular IoT Market, By Technology, 2019-2032 (USD Billion) 

37. Mexico Cellular IoT Market, By Application, 2019-2032 (USD Billion) 

38. Europe Cellular IoT Market, By Component Type, 2019-2032 (USD Billion) 

39. Europe Cellular IoT Market, By Technology, 2019-2032 (USD Billion) 

40. Europe Cellular IoT Market, By Application, 2019-2032 (USD Billion) 

41. Germany Cellular IoT Market, By Component Type, 2019-2032 (USD Billion) 

42. Germany Cellular IoT Market, By Technology, 2019-2032 (USD Billion) 

43. Germany Cellular IoT Market, By Application, 2019-2032 (USD Billion) 

44. France Cellular IoT Market, By Component Type, 2019-2032 (USD Billion) 

45. France Cellular IoT Market, By Technology, 2019-2032 (USD Billion) 

46. France Cellular IoT Market, By Application, 2019-2032 (USD Billion) 

47. U.K. Cellular IoT Market, By Component Type, 2019-2032 (USD Billion) 

48. U.K. Cellular IoT Market, By Technology, 2019-2032 (USD Billion) 

49. U.K. Cellular IoT Market, By Application, 2019-2032 (USD Billion) 

50. Italy Cellular IoT Market, By Component Type, 2019-2032 (USD Billion) 

51. Italy Cellular IoT Market, By Technology, 2019-2032 (USD Billion) 

52. Italy Cellular IoT Market, By Application, 2019-2032 (USD Billion) 

53. Spain Cellular IoT Market, By Component Type, 2019-2032 (USD Billion) 

54. Spain Cellular IoT Market, By Technology, 2019-2032 (USD Billion) 

55. Spain Cellular IoT Market, By Application, 2019-2032 (USD Billion) 

56. Asia Pacific Cellular IoT Market, By Component Type, 2019-2032 (USD Billion) 

57. Asia Pacific Cellular IoT Market, By Technology, 2019-2032 (USD Billion) 

58. Asia Pacific Cellular IoT Market, By Application, 2019-2032 (USD Billion) 

59. Japan Cellular IoT Market, By Component Type, 2019-2032 (USD Billion) 

60. Japan Cellular IoT Market, By Technology, 2019-2032 (USD Billion) 

61. Japan Cellular IoT Market, By Application, 2019-2032 (USD Billion) 

62. China Cellular IoT Market, By Component Type, 2019-2032 (USD Billion) 

63. China Cellular IoT Market, By Technology, 2019-2032 (USD Billion) 

64. China Cellular IoT Market, By Application, 2019-2032 (USD Billion) 

65. India Cellular IoT Market, By Component Type, 2019-2032 (USD Billion) 

66. India Cellular IoT Market, By Technology, 2019-2032 (USD Billion) 

67. India Cellular IoT Market, By Application, 2019-2032 (USD Billion) 

68. South America Cellular IoT Market, By Component Type, 2019-2032 (USD Billion) 

69. South America Cellular IoT Market, By Technology, 2019-2032 (USD Billion)

70. South America Cellular IoT Market, By Application, 2019-2032 (USD Billion)

71. Brazil Cellular IoT Market, By Component Type, 2019-2032 (USD Billion) 

72. Brazil Cellular IoT Market, By Technology, 2019-2032 (USD Billion) 

73. Brazil Cellular IoT Market, By Application, 2019-2032 (USD Billion)

74. Middle East and Africa Cellular IoT Market, By Component Type, 2019-2032 (USD Billion) 

75. Middle East and Africa Cellular IoT Market, By Technology, 2019-2032 (USD Billion) 

76. Middle East and Africa Cellular IoT Market, By Application, 2019-2032 (USD Billion)

77. UAE Cellular IoT Market, By Component Type, 2019-2032 (USD Billion) 

78. UAE Cellular IoT Market, By Technology, 2019-2032 (USD Billion) 

79. UAE Cellular IoT Market, By Application, 2019-2032 (USD Billion)

80. South Africa Cellular IoT Market, By Component Type, 2019-2032 (USD Billion) 

81. South Africa Cellular IoT Market, By Technology, 2019-2032 (USD Billion) 

82. South Africa Cellular IoT Market, By Application, 2019-2032 (USD Billion) 

List of Figures 

1. Global Cellular IoT Market Segmentation

2. Cellular IoT Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Cellular IoT Market Attractiveness Analysis by Component Type

9. Global Cellular IoT Market Attractiveness Analysis by Technology

10. Global Cellular IoT Market Attractiveness Analysis by Application

11. Global Cellular IoT Market Attractiveness Analysis by Region

12. Global Cellular IoT Market: Dynamics

13. Global Cellular IoT Market Share by Component Type (2022 & 2032)

14. Global Cellular IoT Market Share by Technology (2022 & 2032)

15. Global Cellular IoT Market Share by Application (2022 & 2032)

16. Global Cellular IoT Market Share by Regions (2022 & 2032)

17. Global Cellular IoT Market Share by Company (2022)

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global cellular IoT market based on below mentioned segments:

Global Cellular IoT Market by Component Type:

  • Hardware
  • Software
  • Services

Global Cellular IoT Market by Technology:

  • 2G
  • 3G
  • 4G
  • 5G
  • LTE-M
  • NB-LTE-M
  • NB-IoT

Global Cellular IoT Market by Application:

  • Agriculture
  • Manufacturing
  • Environment
  • Energy and Utilities
  • Retail
  • Healthcare
  • Industrial
  • Automotive and Transportation
  • Smart Cities
  • Consumer Electricals
  • Others

Global Cellular IoT Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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