LTE IoT Market

Global LTE IoT Market Size (2024 to 2029)

The global LTE IoT market is predicted to reach USD 2.31 billion in 2024, and USD 8.07 billion in 2029, growing at a CAGR of 28.4% during the forecast period.

LTM-W is a technology mainly created for IoT devices to integrate directly into the 4G network without the help of batteries or a gateway. Long-term object evolution networks consist of two technologies, LTW-M and NB-IoT. Many mobile IoT applications, such as wearable devices and asset tracking, can be used, among others. They are widely used in healthcare, logistics, energy, and utilities.

Global LTE IoT Market Drivers:

An increased number of connected devices will drive market growth. The growing demand for defined network qualities is also driving the expansion of this market. The growing need for long-range connectivity between IoT devices will also contribute to the development of the market. Ease of implementation in today's cellular network infrastructure is another factor accelerating market growth during the outlook period.

The IoT transforms how organizations communicate and regulate daily business and industrial processes. Its widespread adoption across all industries has proven suitable for managing significant assets and coordinating complex and distributed operations. Due to the difficulty and diversity of industrial requirements, many communication systems are required. With new technologies in place, today's war is now known as network-centric warfare, in which a robust network architecture improves information sharing, improves information quality, and shares knowledge of the situation. These widespread applications and market-type ease of maintenance have helped it to create specific demand for the market and end-user needs.

LTE IoT is an emerging technology that is expected to experience substantial growth in the coming years. The Internet of Things (IoT) proliferates and generates a high demand for data storage and transfer applications. Various fields, such as IoT-enabled manufacturing, professional services, telematics, navigation, and infotainment in transportation, are expected to drive the rapid development of the global LTE IoT market. The development of connected devices is driving the LTE IoT market to a large extent worldwide. The Managed Service Provider provides customers with comprehensive and cost-effective solutions, bringing their expertise in managing various operational activities (including infrastructure management, security operations, and cloud operations) to customers, enabling them to launch various machine-to-machine (M2M) offerings.

The sensitive nature of manufacturing activities has made the makers implement IoT solutions, sensors, and wireless IoT connectivity platforms to augment their overall productivity, transforming operations into intelligent manufacturing. Flexibility, interoperability, and longevity are critical characteristics of network communications for LTE applications, helping to meet end-user demand and maintaining close coordination within the team and between units. Adjacent and superior operating industries. With the advancement of LTE and the development of IoT, the market's future is promising for better situational awareness through voice, video, and data delivered to emergency operations/dispatch services and to the lifeguards on the ground.

Global LTE IoT Market Restraints:

Operational failure due to network infrastructure upgrades will hamper this market boom. They cannot protect against new forms of attack, which will also limit the growth of this market.

Impact of Covid-19 on the global LTE IoT Market:

In light of the COVID-19 pandemic, GSMA Intelligence has updated its forecast dataset describing the growth of IoT connections for 2020-2025. It's reasonable to assume that COVID-19 will lead to faster adoption of IoT, AI/ML, and 5G, among other technologies, among other technologies, among other technologies, to drive digital transformation among businesses.

REPORT COVERAGE:

This research report on the global LTE IoT market has been segmented and sub-segmented based on the technology, service, industry, and region.

Global LTE IoT Market - By Technology:

• LTE-M
• NB-IoT

Global LTE IoT Market - By Service:

• Professional Services
• Managed Services

Global LTE IoT Market - By Industry:

• Manufacturing
• Energy and Public Services
• Transport and Logistics
• Healthcare
• Farming

Global LTE IoT Market – By Region:

• North America
  • The United States
  • Canada
  • Rest of North America
• Europe
  • The United Kingdom
  • Spain
  • Germany
  • Italy
  • France
  • Rest of Europe
• The Asia Pacific
  • India
  • Japan
  • China
  • Australia
  • Singapore
  • Malaysia
  • South Korea
  • New Zealand
  • Southeast Asia
• Latin America
  • Brazil
  • Argentina
  • Mexico
  • Rest of LATAM
• The Middle East and Africa
  • Saudi Arabia
  • UAE
  • Lebanon
  • Jordan
  • Cyprus

Europe is increasingly present in the worldwide LTE IoT market thanks to the widespread adoption of LTE technology for enterprise IoT applications. The well-established presence of some of the major players in the area, such as Telefonaktiebolaget LM Ericsson, Halberd Bastion Pty Ltd, and u-blox AG, among others, is expected to further aid the regional market in the coming years. The Asia Pacific is also estimated to be a prominent region in the predicted period for adopting LTE IoT services.

KEY MARKET PARTICIPANTS:

The major companies operating in the global LTE Internet of Things market include Vodafone Group, Telstra, Sierra Wireless, PureSoftware, Sequans., Orange Business Services, T-Mobile, Inc., Telus, MediaTek Inc, Athonet srl, NetNumber Inc., Telensa, Actility S.A., Link LaBS, Telia Company, Accent Advanced Systems, SLU, Halberd Bastion Pty Ltd, Qualcomm Technologies, Inc., u-blox, among others.

RECENT HAPPENINGS IN THE MARKET:

• In May 2019, Sequans Communications SA published about the certification and commercial availability of the Sequans SP150Q LTE Cat 1 module, which is created to operate on the dedicated Curiosity IoT core network and the Sprint operating system, designed to generate immediate business intelligence from connected devices.
• In February 2018, - Cisco Jasper Control Center for NB-IoT created its first global NB-IoT platform available on the market. Companies can now manage NB-IoT and cellular devices by integrating with this Cisco Jasper Control Center IoT connectivity management platform. NB-IoT (Narrow Band-IoT) is projected to drive the growth of IoT on a large scale, increasing the number of connected devices.