How big is the Cellular IoT Market?

The Cellular IoT Market size is expected to reach USD 6.19 billion in 2024 and grow at a CAGR of 23.21% to reach USD 17.57 billion by 2029. Read More

What is the current Cellular IoT Market size?

In 2024, the Cellular IoT Market size is expected to reach USD 6.19 billion. Read More

Who are the key players in Cellular IoT Market?

Qualcomm Technologies Inc., Texas Instruments Incorporated, Gemalto N.V., Sierra Wireless and U-Blox Holding AG are the major companies operating in the Cellular IoT Market. Read More

Which is the fastest growing region in Cellular IoT Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Cellular IoT Market?

In 2024, the North America accounts for the largest market share in Cellular IoT Market. Read More

What years does this Cellular IoT Market cover, and what was the market size in 2023?

In 2023, the Cellular IoT Market size was estimated at USD 5.02 billion. The report covers the Cellular IoT Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Cellular IoT Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Cellular IoT Market Share

Statistics for the 2023 & 2024 Cellular IoT market share, created by Mordor Intelligence™ Industry Reports. Cellular IoT share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Cellular IoT Industry

The cellular internet of things (IoT) market is semi-consolidated due to a few large and small players in both domestic and international markets. Because of a few technological behemoths, the market appears to be semi-consolidated. Product innovation and mergers and acquisitions are key market strategies the major players employ. The following are some of the market's most significant developments:

In February 2023, Qualcomm, a US mobile chip company, launched a new platform Qualcomm Aware, a cloud-friendly bundle that includes Qualcomm silicon and an ecosystem of hardware and software partners. The concept appears to be a one-stop shop for all types of IoT projects overseen by Qualcomm. Furthermore, "Qualcomm Aware is designed to provide organizations across industries with a scalable, cost-effective, capital-efficient investment solution that accelerates time to market, simplifies digital transformation, and delivers transformative insights needed to reduce risk, make more informed business decisions, and navigate cross-industry challenges."

In November 2022, Quectel Wireless Solutions, a global IoT and automotive solutions provider, announced the release of its new AG18 automotive module, one of the next generation of cellular vehicle-to-everything (C-V2X) modules. With PC5 direct communications, the module allows vehicles to communicate with one another and with their surroundings effectively, ensuring improved safety and traffic efficiency.

Furthermore, the AG18 supports vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), and vehicle-to-pedestrian (V2P) communications on the unified 5.9GHz intelligent transportation system (ITS) band without the need for a (U)SIM, cellular subscription, or network assistance. In addition to superior C-V2X communication capabilities, the AG18 module includes flexible positioning service options such as L1+L5 dual frequency GNSS, Qualcomm Dead Reckoning (QDR3), and high-precision PPE (RTK), ensuring that global automotive OEMs and Tier 1 suppliers can leverage location technology appropriate to their application requirements.