Connect with us

Technology

Cellular IoT Market size is set to grow by USD 16.44 billion from 2024-2028, Implementation of cellular IoT modules in smart city infrastructure and building automation boost the market, Technavio

Published

2 years ago

on

NEW YORK, July 25, 2024 /PRNewswire/ — The global cellular IoT market size is estimated to grow by USD 16.44 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  32.14%  during the forecast period. Implementation of cellular iot modules in smart city infrastructure and building automation is driving market growth, with a trend towards growing applications in vehicle telematics and fleet management. However, increasing number of cyber attacks  poses a challenge. Key market players include AT and T Inc., Celplan, ETM Matteknik AB, Fibocom Wireless Inc., floLIVE, Huawei Technologies Co. Ltd., Intel Corp., MediaTek Inc., Nordic Semiconductor ASA, Qorvo Inc., Qualcomm Inc., Quectel Wireless Solutions Co. Ltd., Semtech Corp., Shield IoT, Skyworks Solutions Inc., Sony Group Corp., Telit, Texas Instruments Inc., Thales Group, u blox AG, UNISOC Shanghai Technologies Co. Ltd., and ZTE Corp..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Cellular Iot Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 32.14%

Market growth 2024-2028

USD 16445.7 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

24.42

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 33%

Key countries

US, China, Germany, UK, and Japan

Key companies profiled

AT and T Inc., Celplan, ETM Matteknik AB, Fibocom Wireless Inc., floLIVE, Huawei Technologies Co. Ltd., Intel Corp., MediaTek Inc., Nordic Semiconductor ASA, Qorvo Inc., Qualcomm Inc., Quectel Wireless Solutions Co. Ltd., Semtech Corp., Shield IoT, Skyworks Solutions Inc., Sony Group Corp., Telit, Texas Instruments Inc., Thales Group, u blox AG, UNISOC Shanghai Technologies Co. Ltd., and ZTE Corp.

Market Driver

Cellular IoT is gaining significant traction in the use case of vehicle telematics, particularly in off-highway applications. This technology enhances performance and connectivity while optimizing an organization’s assets. The limited availability of technicians for off-highway vehicles, such as cranes and excavators, necessitates the implementation of IoT and telematics solutions. As a result, telematics solution providers are integrating cellular IoT into their offerings, enabling fleet managers and OEMs to effectively monitor equipment and on-road assets, analyze data, and address issues in real-time. These factors are expected to fuel the growth of the global cellular IoT market in the forecast period.

The Cellular IoT market is booming, with trends like smart city infrastructure, building automation, agricultural automation, environmental monitoring, and more driving growth. Key sectors include medical wearables, vehicle telematics, fleet management, and chipsets for wearables and connected healthcare devices. Streetlights and infrastructure monitoring devices are transforming into smart solutions, offering real-time monitoring and data-driven decisions. LPWAN technologies like NB-IoT and LTE-M provide energy-efficient connectivity for low power sensors. However, challenges such as cyberattacks, battery drain attacks, and IoT interoperability remain. Telematics solutions are essential for off-highway vehicles like cranes and excavators. Real-time communication is crucial for security cameras streaming video signals. 2G, 3G, and 4G networks continue to support IoT devices, while Alarms and Detectors, Smart Appliances, Smart Metering, and Surveillance & Monitoring are other significant areas. Cloud networks ensure seamless data transfer and analysis. Security is paramount, as is ensuring IoT device compatibility. 

Discover 360° analysis of this market. For complete information, schedule your consultation – Book Here!

Market Challenges

The cellular IoT market encompasses the necessary components for cellular IoT connectivity. This ecosystem simplifies applications for various industries, yet poses risks due to cyberattacks. The increasing number of IoT devices on cellular networks provides opportunities for cybercriminals to exploit vulnerabilities. Cloud networks are crucial for most cellular IoT devices’ operation, but insecure infrastructure can lead to data theft or device hijacking. For instance, cloud-based drones, which process and transmit information, are susceptible to breaches. Such vulnerabilities may compromise networks or other devices, potentially hindering the cellular IoT market’s growth during the forecast period.The Cellular IoT market is experiencing significant growth due to the increasing adoption of IoT in various industries. However, several challenges must be addressed for widespread implementation. Government programs and regulatory compliance pose challenges in terms of spectrum usage and regulatory frameworks. Industry 4.0 and smart city projects require data integrity, security, and network coverage. Battery life, security issues, and connectivity are key concerns for urban infrastructure management in areas like traffic control, waste management, and energy efficiency. Smart Agriculture and Industrial IoT require precision farming, crop monitoring, livestock management, and supply chain optimization. Healthcare and utilities sectors focus on remote patient monitoring, asset tracking, and healthcare system optimization. Transportation and logistics aim for inventory management, customer experience enhancement, and supply chain optimization. Connected devices in energy and utilities require end-to-end security. LTE networks and Vehicle-to-everything (V2X) technologies, including V2V, V2I, V2P, and consumer electronics, present challenges in terms of data protection and regulatory compliance.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This cellular iot market report extensively covers market segmentation by  

Component 1.1 Hardware1.2 SoftwareType 2.1 3G2.2 2G2.3 4G2.4 OthersGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Hardware-  The cellular IoT market in the hardware segment is witnessing notable expansion due to the rising demand for IoT-enabled devices such as sensors, actuators, gadgets, appliances, and machines. These devices are engineered for specific applications and can transmit data over the Internet or other networks, forming a network of interconnected devices. Real-time analytics data is generated through improved machine-to-machine (M2M) communication, enhancing the dependability and productivity of hardware devices. Sensors are the most critical hardware components used alongside machines in various industries, including manufacturing, logistics, and healthcare. The demand for IoT-enabled sensors is escalating due to the requirement for real-time data and analytics in these sectors. To IoT-enable hardware devices, sensors are increasingly in demand. This trend is fueled by the need for real-time data and analytics in various industries and the growing adoption of IoT technology across them. The steady expansion of the hardware segment is attributed to the increasing adoption of IoT technology and the rising demand for IoT-enabled hardware devices.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global Narrowband-Internet of Things (NB-IoT) market is experiencing significant growth, driven by increasing demand for efficient, low-power connectivity solutions. With applications spanning smart cities and industrial IoT, NB-IoT is expected to expand as telecom operators invest in infrastructure. Concurrently, the global Telecom Equipment market is booming, fueled by advancements in 5G technology and rising data consumption. The broader IoT market, encompassing various sectors, continues its upward trajectory, driven by innovations in connectivity and automation across industries. This growth reflects the accelerating integration of IoT technologies in everyday life.

Research Analysis

The Cellular IoT market is experiencing rapid growth due to the increasing demand for real-time monitoring and data-driven decisions in various industries. Narrowband IoT (NB-IoT) and LTE-M are leading LPWAN technologies that offer energy-efficient connectivity for IoT devices, enabling widespread implementation in smart city infrastructure, building automation, agricultural automation, environmental monitoring, and medical wearables. Real-time communication is essential for vehicle telematics, fleet management, and connected cars, driving the adoption of LTE networks and Vehicle-to-everything (V2X) technologies, including Vehicle-to-vehicle (V2V), Vehicle-to-infrastructure (V2I), and Vehicle-to-pedestrian (V2P). Chipsets and wearables are key components of the IoT ecosystem, powering the development of connected healthcare devices and consumer electronics. 5G is expected to further revolutionize the market with its ultra-low latency and high-speed capabilities.

Market Research Overview

The Cellular IoT market is experiencing significant growth as more industries adopt IoT technology for various applications. Smart city infrastructure, building automation, agricultural automation, and environmental monitoring are key areas where Cellular IoT is making an impact. The use of chipsets, wearables, and connected healthcare devices in medical applications is also increasing. Telematics solutions for vehicle fleet management, off-highway vehicles like cranes and excavators, and industrial automation are also driving market growth. NB-IoT and LTE-M, along with other LPWAN technologies, offer energy-efficient connectivity for low-power sensors and devices. Real-time monitoring and data-driven decisions are becoming essential in industries like logistics and agriculture. However, challenges such as cyberattacks, battery drain attacks, regulatory compliance, data protection, network coverage, and connectivity issues persist. The adoption of 5G, with its lower latency and faster data rates, is expected to address some of these challenges and enable new applications like autonomous vehicles, augmented reality (AR), and virtual reality (VR) in the future. Urban infrastructure management, including smart street lighting, parking management, and waste management, is another area where Cellular IoT is making a difference. Smart grids, connected cars, and smart metering are also important applications. Despite these advancements, concerns around data integrity, battery life, security issues, and spectrum usage remain. Government regulations and programs, such as Industry 4.0 and smart city projects, are driving the adoption of Cellular IoT and shaping its future.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentHardwareSoftwareType3G2G4GOthersGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/cellular-iot-market-size-is-set-to-grow-by-usd-16-44-billion-from-2024-2028–implementation-of-cellular-iot-modules-in-smart-city-infrastructure-and-building-automation-boost-the-market-technavio-302205382.html

SOURCE Technavio

Related Topics:
Continue Reading

Technology

ST Engineering iDirect and MBSat Partner to Build Next-Generation Sovereign Connectivity Services Across Oman and the Middle East

Published

4 hours ago

on

October 25, 2026

By

Intuition ground system selected to support MBSat’s planned 2027 service launch, enabling accelerated deployment, dynamic resource management and scalable service growth

HERNDON, Va., Oct. 25, 2026 /PRNewswire/ — ST Engineering iDirect today announced a strategic partnership with Mohammed Al Barwani Satellite Company (MBSat), part of Mohammed Al Barwani Group, to provide the ground system technology foundation for MBSat’s next-generation satellite gateway and network operations across Oman and the wider Middle East region. Intuition will provide a flexible, software-defined foundation to support sovereign connectivity services, enabling efficient service deployment, dynamic resource management and scalable network operations.

Intuition will deliver a turnkey ground segment solution that accelerates deployment, simplifies operations and gives MBSat the flexibility to scale services as demand grows. The software-defined platform enables dynamic resource management, service automation and seamless integration with existing and future operational systems. The solution also includes Ka-band gateway infrastructure, service provisioning and management capabilities, open API integration frameworks, training and full-lifecycle support. Together, these capabilities will help MBSat launch and operate services efficiently while adapting to evolving market requirements.

The network will leverage capacity from MB Sat-1, a sovereign MicroGEO satellite, with planned service launch in 2027, to support flexible, scalable connectivity services across the region.

The partnership reflects growing investment in sovereign communications infrastructure across the Middle East as operators seek greater control over service delivery, network expansion and long-term technology evolution.

“This partnership represents an important milestone in our efforts to build an advanced satellite communications platform in Oman and the region,” said Ammar Al Rawahi, General Manager, MBSat. “Through our collaboration with ST Engineering iDirect, we are establishing the technical infrastructure required to launch services efficiently, respond to evolving customer needs and expand into new markets, supporting the sustainable long-term growth of our business.”

“We are providing MBSat with a flexible, software-defined ground platform that integrates with its existing operational environment,” said Sridhar Kuppanna, Chief Executive Officer, ST Engineering iDirect. “This enables more efficient service deployment and operations today, with the flexibility to scale, introduce new capabilities and evolve as requirements change.”

About ST Engineering iDirect

ST Engineering iDirect, a subsidiary of ST Engineering, is a global leader in satellite communications, providing technology and solutions that enable its customers to expand their business, differentiate their services and optimize their networks. Through its portfolio of ground infrastructure, intelligent networking and advanced satellite communications solutions, the company supports operators, service providers, governments and enterprises worldwide.

View original content to download multimedia:https://www.prnewswire.com/news-releases/st-engineering-idirect-and-mbsat-partner-to-build-next-generation-sovereign-connectivity-services-across-oman-and-the-middle-east-302918467.html

SOURCE ST Engineering iDirect

Continue Reading

Technology

ST Engineering iDirect and MBSat Partner to Build Next-Generation Sovereign Connectivity Services Across Oman and the Middle East

Published

4 hours ago

on

October 25, 2026

By

Intuition ground system selected to support MBSat’s planned 2027 service launch, enabling accelerated deployment, dynamic resource management and scalable service growth

HERNDON, Va., Oct. 25, 2026 /PRNewswire/ — ST Engineering iDirect today announced a strategic partnership with Mohammed Al Barwani Satellite Company (MBSat), part of Mohammed Al Barwani Group, to provide the ground system technology foundation for MBSat’s next-generation satellite gateway and network operations across Oman and the wider Middle East region. Intuition will provide a flexible, software-defined foundation to support sovereign connectivity services, enabling efficient service deployment, dynamic resource management and scalable network operations.

Intuition will deliver a turnkey ground segment solution that accelerates deployment, simplifies operations and gives MBSat the flexibility to scale services as demand grows. The software-defined platform enables dynamic resource management, service automation and seamless integration with existing and future operational systems. The solution also includes Ka-band gateway infrastructure, service provisioning and management capabilities, open API integration frameworks, training and full-lifecycle support. Together, these capabilities will help MBSat launch and operate services efficiently while adapting to evolving market requirements.

The network will leverage capacity from MB Sat-1, a sovereign MicroGEO satellite, with planned service launch in 2027, to support flexible, scalable connectivity services across the region.

The partnership reflects growing investment in sovereign communications infrastructure across the Middle East as operators seek greater control over service delivery, network expansion and long-term technology evolution.

“This partnership represents an important milestone in our efforts to build an advanced satellite communications platform in Oman and the region,” said Ammar Al Rawahi, General Manager, MBSat. “Through our collaboration with ST Engineering iDirect, we are establishing the technical infrastructure required to launch services efficiently, respond to evolving customer needs and expand into new markets, supporting the sustainable long-term growth of our business.”

“We are providing MBSat with a flexible, software-defined ground platform that integrates with its existing operational environment,” said Sridhar Kuppanna, Chief Executive Officer, ST Engineering iDirect. “This enables more efficient service deployment and operations today, with the flexibility to scale, introduce new capabilities and evolve as requirements change.”

About ST Engineering iDirect

ST Engineering iDirect, a subsidiary of ST Engineering, is a global leader in satellite communications, providing technology and solutions that enable its customers to expand their business, differentiate their services and optimize their networks. Through its portfolio of ground infrastructure, intelligent networking and advanced satellite communications solutions, the company supports operators, service providers, governments and enterprises worldwide.

View original content to download multimedia:https://www.prnewswire.com/news-releases/st-engineering-idirect-and-mbsat-partner-to-build-next-generation-sovereign-connectivity-services-across-oman-and-the-middle-east-302918467.html

SOURCE ST Engineering iDirect

Continue Reading

Technology

Global Security & Technology Summit Unveils Month-Long Program of Activities Ahead of December Event

Published

11 hours ago

on

October 24, 2026

By

RIYADH, Saudi Arabia, Oct. 24, 2026 /PRNewswire/ — The Organizing Committee of the Global Security & Technology Summit (GSTS) held an introductory session today at the Ministry of Interior’s headquarters in Riyadh, bringing together representatives from the government, private, and nonprofit sectors to introduce the program of activities leading up to the summit. The upcoming summit will be held in Riyadh under the patronage of HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, under the supervision of HRH Prince Abdulaziz bin Saud bin Naif bin Abdulaziz Al Saud, Minister of Interior, and organized by the Ministry of Interior in cooperation with Tuwaiq Academy.

During the session, the Organizing Committee presented the comprehensive GSTS program, comprising three key components: GSTS Month, running from November 1 to 30, 2026; the Global Security & Innovation Fair (SAIF), taking place from November 24 to 26, 2026; and the main Summit, scheduled for December 18 to 20, 2026, in Riyadh. Together, these events form an integrated program designed to advance security and technology innovation, strengthen national capabilities, and foster international cooperation.

GSTS Month will feature working groups, boot camps, training programs, knowledge-sharing sessions, and technical workshops across Saudi Arabia’s 13 administrative regions, delivered both in person and remotely in collaboration with specialized entities. The month-long program aims to develop national capabilities, identify emerging talent, enrich knowledge-sharing opportunities, and equip professionals with the knowledge and skills needed to develop innovative solutions to future security and technology challenges.

The main Summit will bring together global leaders, decision-makers, experts, and innovators to explore the future of security and technology, promote the integration of advanced technologies within the security sector, strengthen national capabilities, support innovation, and foster international cooperation, further positioning the Kingdom as a global hub for security and technology.

Showcasing the latest technological breakthroughs and security solutions, the summit will bring together government entities, private sector organizations, academic institutions, and research centers to facilitate knowledge exchange and collaboration across key fields, including cybersecurity, artificial intelligence (AI), the Internet of Things (IoT), smart security solutions, emerging technologies, and crisis management. The program will also feature main sessions, specialized discussions, and interactive exhibitions. Registration is available at gsts.sa.

Advisor to HRH the Minister of Interior and Chairman of the GSTS Organizing Committee, Ahmed Altowayan, stated that the summit builds on Saudi Arabia’s efforts to establish an advanced security and technology ecosystem focused on knowledge and innovation, keeping pace with rapid developments and future challenges.

Mr. Altowayan noted that the summit is a global platform for strengthening cooperation and exchanging expertise, anticipating future developments in security and technology, and developing strategic partnerships and innovative solutions that enhance the efficiency and readiness of security systems.

Vice Chairman of the GSTS Organizing Committee, Eng. Abdulaziz Alhammadi, said that the summit will offer a range of integrated programs and activities focused on enhancing national skills, encouraging innovation, and supporting international cooperation.

He added that GSTS Month will help build national capabilities, discover talent, and develop skills, with SAIF providing a platform for innovators and researchers from around the world to showcase leading technological solutions, while the main Summit will bring together leaders and experts to discuss the future of security and technology and explore new strategic partnership opportunities.

SAIF will take place at the Riyadh International Convention & Exhibition Center, bringing together innovators, researchers, technology talents, and industry experts from around the world to showcase promising innovations and projects across 14 fields of technology and innovation. The fair will provide opportunities to engage with project owners, including students, graduates, and entrepreneurs, and explore the different stages of innovation development through interactive zones, panel discussions on emerging security and innovation trends, and knowledge-sharing workshops led by specialists. Visitor registration is open to participants from within and outside the Kingdom through saifair.sa.

The introductory session also featured contributions from representatives of government, private, and nonprofit sector entities, alongside members of the media. Discussions focused on developing national capabilities in security and technology, strengthening students’ technical expertise, translating scientific research into practical solutions, and supporting Saudi companies in developing security and technology solutions and advancing digital transformation.

Organized by the Ministry of Interior in cooperation with Tuwaiq Academy, GSTS is produced by Tahaluf, with the Ministry of Education serving as Strategic Scientific Partner, Tahakom as Founding Partner, and Elm as Principal Partner.

Registration for participants from within and outside the Kingdom is available at gsts.sa.

Click here to view the media kit. 

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/global-security–technology-summit-unveils-month-long-program-of-activities-ahead-of-december-event-302918695.html

Continue Reading

Trending