The presence of fast growing nations, rising adoption of advanced technologies and increasing number of connected devices are some of the major factors that are anticipated to fuel the growth of cellular IoT in the world.

- Rise in digitalization and automation among industries across diverse verticals, such as manufacturing, automotive, and energy & utilities are the key factors expected to drive the global cellular IoT market growth. In addition, rise in demand for extended network coverage, growth in inclination toward business expansion beyond mobile broadband, and need to accommodate large number of connected devices among businesses across the globe are some of the other major factors expected to propel the growth of the cellular IoT market.

- Rising adoption of IoT in automotive industry, commercialization of 5G, and emergence of Narrowband Internet of Things (NB-IoT) and Long Term Evolution for Machines (LTE-M) are some of the aspects which are projected to assist the players operating in the cellular IoT market.

- The rising demand of end-to-end security like strong device-level access and authentication, encrypted data transport etc. are driving the global cellular IoT market as cellular IoT solutions delivers the robust infrastructure which help companies to minimize risk and maximize uptime.

- Coronavirus outbreak and its impacts are likely to slowdown cellular IoT investment and deployments as well as extend timelines for cellular IoT market growth in many sectors.However, there may be some opportunities for cellular IoT to shine as with major disruptions in global healthcare and supply chains, governments, hospitals, insurers, and logistics providers are having to react quickly and rethink how a more connected world could help better address the current crisis and avert or mitigate future ones.

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Key Market Trends

Increasing demand of cellular Iot for C-V2X in automotive sector to Drive The Market

- Cellular Vehicle-to-Everything (C-V2X) in automotive sector is growing due to the increase in demand for safe & reliable road transportation, the rising adoption of autonomous vehicles, and increase in the adoption of vehicle telematics by logistics & transportation companies.

- The increasing demand of enabling highly reliable, real time communication at high speeds and in high-density traffic, Leveraging the comprehensive coverage of secure and well-established LTE networks are some of the factors that are boosting the demand of cellular Iot for C-V2X.

- The advancements in 5G technology would enable the applications of 5G-V2X which is expected to offer better performance in terms of cybersecurity and handling a large number of messages in congested traffic environments. Another factor that would drive the cellular Iot segment is the cost associated with hardware components.

- In January 2019, Audi, Ducati, and Ford demonstrated C-V2X technologies. Such developments would accelerate the commercial deployment of of cellular IoT in C-V2X technology.

Asia-Pacific To Register Highest Market Growth

- Asia Pacific is anticipated to be the fast growing market of cellular IOT as countries such as China and India have large pool of semiconductor dealers. Also the rising influx of technology companies in the region coupled with the increasing investment in IoT technology in the region is expected to boost the market growth rate.

- 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 cellular IoT market in these countries.

- The increasing adoption of smart meters and grids drives the growth of cellular IoT modules in energy industry in th region. Further, the growth for energy management, together with increasing demand for green homes, drives the overall demand for building automation market which results in high demand of deployment of cellular Iot.

- For APAC enterprises, key strategic IoT drivers are cost and efficiency-related where the major challenges are data/network security and ongoing costs. Global cloud and IT vendors are emerging as leading IoT providers in APAC which is adding fuel to the market in the region.

Competitive Landscape

The Cellular internet of things (IoT) market is highly competitive owing to the presence of many large and small players in the market operating in the domestic as well as in the international market. The market appears to be fragmented due to the presence of many technological giants in the market. Key strategies adopted by the major players in the market are product innovation and mergers and acquisitions. Some of the key developments in the market are:

- March 2020 - Sequans Communications and NXP Semiconductors have collaborated to bring LTE for Internet of Things (IoT) to NXP’s microcontroller (MCU) ecosystem. The crux of the partnership will see the combination of NXP’s LPC5500 MCU series with Sequans’ Monarch GM01Q and NB01Q modules, providing a development platform that includes LTE-M and NB-IoT connectivity for IoT devices.

- November 2019 - Telit Introduced new modules ideal for transition to 4G NB-IoT.The new modules are created for users looking to transition from 2G to 4G NB-IoT. Telit claims the new modules offer more efficient power usage and enhanced coverage for connectivity.

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