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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

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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..

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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. 

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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.

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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/

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Technology

Chef Robotics Physical AI Models Can Now Automate Baked Goods Packing

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SAN FRANCISCO, April 29, 2026 /PRNewswire/ — Chef Robotics, a leader in physical AI for the food industry, today announced that Chef robots can now automate tray assembly for baked goods packing. The application places baked products, such as burger buns, chocolate chip cookies, biscotti, butter cookies, biscuits, fortune cookies, granola bars, rusks, and shortbreads into trays and packaging containers before sealing.

Watch Chef robots in action.

Baked goods packing has historically been difficult to automate for high-mix production. Each item behaves differently on the production line—a granola bar compresses under the wrong grip, while a biscotti or rusk can crack if placed at the wrong angle. Surface textures range from glazed and smooth to crumbly and irregular, and strict presentation requirements leave little room for error. This variability has made it challenging for automation systems to reliably handle baked goods at production speeds, leaving food manufacturers dependent on manual labor and traditional bakery equipment.

To address this, Chef built its baked goods packing application on its existing piece-picking capability, which uses Chef’s AI-powered computer vision and physical AI models trained across diverse real-world production environments. This allows Chef robots to assess each item’s position, shape, and orientation in real time and determine how to pick the items from the pan and place them quickly and precisely without damaging them.

The baked goods packing application supports four distinct placement capabilities.

First, Chef’s vision system detects the angle at which each item sits in the pan and reorients it after picking, placing it on the tray at the exact angle required, regardless of its original position, enabling retail-ready presentation for SKUs that require precise angular placement.

Second, Chef robots can place multiple baked goods into the same packaging container in a single automated pass, completing full tray assembly without manual intervention.

Third, for packaging containers with multiple small compartments, Chef robots can precisely place items into each designated section, including multiple items in the same compartment, using Chef’s AI vision model to detect compartment positions and orientations in real time.

Fourth, Chef’s vision system identifies the exact center of each tray and places every item at a predefined offset from that center, ensuring a uniform, consistent arrangement across every pack regardless of how trays arrive on the conveyor.

For food manufacturers evaluating bakery systems and baked goods packaging automation, the application offers higher throughput, reduced labor dependency, and consistent presentation across shifts. The capability runs on Chef’s existing robotic hardware and software, allowing manufacturers to deploy it without requiring any changes to their production lines.

Chef’s baked goods packing application is available in the U.S., Canada, Germany, and the UK and is included as part of Chef’s robotics-as-a-service (RaaS) pricing model.

About Chef Robotics
Chef is the first company to have commercialized a scalable AI-driven food robotics solution. With over 104 million servings made in production, Chef leverages ChefOS, an AI platform for food manipulation, to offer a Robotics-as-a-Service solution that helps industry-leading food companies increase production volume and meet demand. Headquartered in San Francisco, CA, Chef aims to empower humans to do what humans do best by accelerating the advent of intelligent machines. Visit https://chefrobotics.ai to learn more.

View original content:https://www.prnewswire.com/news-releases/chef-robotics-physical-ai-models-can-now-automate-baked-goods-packing-302756923.html

SOURCE Chef Robotics

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Technology

Chef Robotics Physical AI Models Can Now Automate Baked Goods Packing

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on

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SAN FRANCISCO, April 29, 2026 /PRNewswire/ — Chef Robotics, a leader in physical AI for the food industry, today announced that Chef robots can now automate tray assembly for baked goods packing. The application places baked products, such as burger buns, chocolate chip cookies, biscotti, butter cookies, biscuits, fortune cookies, granola bars, rusks, and shortbreads into trays and packaging containers before sealing.

Watch Chef robots in action.

Baked goods packing has historically been difficult to automate for high-mix production. Each item behaves differently on the production line—a granola bar compresses under the wrong grip, while a biscotti or rusk can crack if placed at the wrong angle. Surface textures range from glazed and smooth to crumbly and irregular, and strict presentation requirements leave little room for error. This variability has made it challenging for automation systems to reliably handle baked goods at production speeds, leaving food manufacturers dependent on manual labor and traditional bakery equipment.

To address this, Chef built its baked goods packing application on its existing piece-picking capability, which uses Chef’s AI-powered computer vision and physical AI models trained across diverse real-world production environments. This allows Chef robots to assess each item’s position, shape, and orientation in real time and determine how to pick the items from the pan and place them quickly and precisely without damaging them.

The baked goods packing application supports four distinct placement capabilities.

First, Chef’s vision system detects the angle at which each item sits in the pan and reorients it after picking, placing it on the tray at the exact angle required, regardless of its original position, enabling retail-ready presentation for SKUs that require precise angular placement.

Second, Chef robots can place multiple baked goods into the same packaging container in a single automated pass, completing full tray assembly without manual intervention.

Third, for packaging containers with multiple small compartments, Chef robots can precisely place items into each designated section, including multiple items in the same compartment, using Chef’s AI vision model to detect compartment positions and orientations in real time.

Fourth, Chef’s vision system identifies the exact center of each tray and places every item at a predefined offset from that center, ensuring a uniform, consistent arrangement across every pack regardless of how trays arrive on the conveyor.

For food manufacturers evaluating bakery systems and baked goods packaging automation, the application offers higher throughput, reduced labor dependency, and consistent presentation across shifts. The capability runs on Chef’s existing robotic hardware and software, allowing manufacturers to deploy it without requiring any changes to their production lines.

Chef’s baked goods packing application is available in the U.S., Canada, Germany, and the UK and is included as part of Chef’s robotics-as-a-service (RaaS) pricing model.

About Chef Robotics
Chef is the first company to have commercialized a scalable AI-driven food robotics solution. With over 104 million servings made in production, Chef leverages ChefOS, an AI platform for food manipulation, to offer a Robotics-as-a-Service solution that helps industry-leading food companies increase production volume and meet demand. Headquartered in San Francisco, CA, Chef aims to empower humans to do what humans do best by accelerating the advent of intelligent machines. Visit https://chefrobotics.ai to learn more.

View original content:https://www.prnewswire.com/news-releases/chef-robotics-physical-ai-models-can-now-automate-baked-goods-packing-302756923.html

SOURCE Chef Robotics

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Air Products to Expand Industrial Gas Supply for Samsung Electronics’ Next-Generation Semiconductor Fab in South Korea

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New investment underscores the company’s long-term commitment to Korea and its leading role in the global semiconductor industry 

LEHIGH VALLEY, Pa., April 29, 2026 /PRNewswire/ — Air Products (NYSE:APD), a world-leading industrial gases company and serving Samsung globally, today announced it has been selected by Samsung to supply industrial gases for its new advanced semiconductor fab in Pyeongtaek, Gyeonggi Province, South Korea.

Under the agreement, Air Products will build, own and operate multiple state-of-the-art production facilities and a bulk specialty gas supply system to supply nitrogen, oxygen, argon, and hydrogen for Samsung’s new semiconductor fab. The new facilities are expected to come onstream in multiple phases from 2028 through 2030.

Air Products has a long track record of executing multiple phase expansions in Pyeongtaek to support Samsung’s growing manufacturing needs. This latest project represents Air Products’ largest investment to date in the semiconductor industry and will establish Pyeongtaek as the company’s single largest operations site globally supporting the electronics industry. 

“Air Products is honored to be selected once again by Samsung and to have their continued confidence as a trusted partner supporting their strategic growth plans,” said SR Kim, President, Air Products Korea. “This significant investment reinforces Air Products’ role as a leading global supplier to the semiconductor industry and underscores our long-standing commitment to supporting our strategic customers with safety, reliability, efficiency and excellent service.”

Air Products has served the global electronics industry for more than 40 years, supplying industrial gases safely and reliably to many of the world’s leading technology companies. The company has operated in Korea for more than 50 years and has established a strong position in electronics and manufacturing sectors.

About Air Products

Air Products (NYSE: APD) is a world-leading industrial gases company in operation for over 85 years focused on serving energy, environmental, and emerging markets and generating a cleaner future. The Company supplies essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, medical and food. As the leading global supplier of hydrogen, Air Products also develops, engineers, builds, owns and operates some of the world’s largest clean hydrogen projects, supporting the transition to low- and zero-carbon energy in the industrial and heavy-duty transportation sectors. Through its sale of equipment businesses, the Company also provides turbomachinery, membrane systems and cryogenic containers globally.

Air Products had fiscal 2025 sales of $12 billion from operations in approximately 50 countries. For more information, visit airproducts.com or follow us on LinkedInXFacebook or Instagram.

This release contains “forward-looking statements” within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s expectations and assumptions as of the date of this release and are not guarantees of future performance. While forward-looking statements are made in good faith and based on assumptions, expectations and projections that management believes are reasonable based on currently available information, actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors, including the risk factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2025 and other factors disclosed in our filings with the Securities and Exchange Commission. Except as required by law, we disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in the assumptions, beliefs or expectations or any change in events, conditions or circumstances upon which any such forward-looking statements are based.

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