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The LTE IoT Market Size was valued at USD 2.7 Billion in 2023 and is expected to reach USD 23.6 Billion by 2032, growing at a CAGR of 27.3% over the forecast period 2024-2032.
Technological advancements and increased government initiatives have driven growth in the LTE IoT market due to an increase in the adoption of the LTE IoT network. Digitalization, smart city evolution and connectivity improvements by governments around the globe have set the stage for LTE IoT (Long-Term Evolution Internet of Things) development. In 2023, many governments released fresh procedures to encourage IoT usage in sectors, including healthcare, agriculture, transportation, and manufacturing. For instance, the European Union's Digital Compass initiative targets the integration of 5G and IoT networks in urban infrastructure by 2030, with a substantial emphasis on LTE-based IoT services. The FCC in the US has been advocating for increased IoT network coverage, over $1 billion has been designed in efforts to improve rural coverage via the Rural Digital Opportunity Fund (RDOF). Further, the United Nations' Sustainable Development Goals (SDGs) define the part of IoT in improving global infrastructure and public services fueling the demand for IoT across the globe especially, the LTE.
5G is also supported by heavy investment from governments, which solidifies the base on which the LTE IoT rollout will be advanced. Rising requirements for smart, connected devices in urban and rural locations have further spurred the growth of the LTE IoT system. They have also been promoting R&D to develop secure and interoperable LTE IoT solutions to satisfy regulatory needs. The aggressive governmental push is going to provide good support for LTE IoT and as a consequence, the professional services segment is expected to account for comparatively higher market share in 2023. The professional services sector will be driven by requiring IoT networks and devices solutions and consulting services, as these networks and devices become increasingly extensive and complex in their implementations.
Drivers
Increased adoption of IoT technologies in industrial sectors is boosting demand for reliable and scalable LTE IoT solutions, enhancing automation and operational efficiency.
The growing use of LTE IoT in healthcare, especially for remote patient monitoring and telemedicine, is driving market growth as it improves patient care and operational efficiency.
With the rise of smart cities and connected devices, the demand for high-speed broadband connectivity is a key driver for LTE IoT adoption.
The LTE IoT market is further fueled by growth in industrial automation that utilizes IoT solutions to improve efficiency, safety, and scalability. LTE IoT technology can also be integrated into manufacturing and industrial operations, transforming production environments with the ability to monitor conditions, predict maintenance, and control equipment remotely in real time. Examples include automakers and manufacturers who are using LTE IoT to improve their supply chains and factory floors. A prominent example is Siemens, which leverages LTE IoT to connect machines in factories to talk to each other independently to streamline operations and downtime. In addition, the adoption of Industrial IoT (IIoT) is driving demand for reliable, low-latency communication networks, with LTE IoT playing a central role.
With the increasing adoption of industrial IoT, the global industrial automation market is likely to experience substantial growth. A recent report estimates that IoT could generate up to $11 trillion in economic value by 2025 across all industries, with a large part of that value driven by automation and smart manufacturing. Likewise, the use of connected devices in an industrial environment has been shown to reduce downtime by 10-40%, thus increasing productivity according to the Industrial Internet Consortium in the U.S. The increasing dependence of industrial automation on LTE IoT is an indicator of LTE IoT being the go-to solution for the improvement of operational processes and cost-effective solutions.
Restraints:
The diversity of IoT devices and protocols presents significant interoperability issues, making it difficult to ensure seamless communication across different platforms.
With the increase in IoT-connected devices, there are heightened risks related to data breaches and cyber-attacks, making security a primary challenge.
As the number of connected devices rises, network congestion becomes a concern, potentially affecting the performance of LTE IoT solutions.
Network congestion is one of the key restraints hampering the growth of the LTE IoT market. With an increasing number of connected devices, particularly in massive IoT use cases such as smart cities and industrial automation, network congestion is becoming a big challenge. Sending this amount of data from the vast majority of devices connected at once can create more overhead for existing networks or service providers which leads to reduced speeds, increased latency, and malfunctions. This particular challenge is exacerbated by current networks, which are not always designed to scale seamlessly for the prevailing rural or underserved region connectivity challenges present today.
By Services
The professional service market segment held the highest share 62% of the LTE IoT market in 2023. The growth is due to the increasing complexity of LTE IoT implementations, which need expert consulting, integration, and management services. As LTE IoT is going to facilitate several industries, governments worldwide have started focusing on LTE IoT integration in several sectors. That is, the U.S. government should put effort into developing the "smart city" program while simultaneously laying the groundwork and partnerships with professional service providers to implement and maintain these solutions.
In addition to that in Europe, the EU’s Horizon 2020 program of the EU has funded several digital technologies which will also need ongoing investment from professional service suppliers. As more businesses are leveraging LTE IoT for mission-critical applications like industrial automation, healthcare monitoring, and connected transportation, they must also consider outsourcing services to established firms with strong expertise in deploying large-scale, end-to-end, and integrated IoT solutions. From designing the system, testing, deploying, maintaining, and long-term support followed by optimizing IoT networks, these types of services are generally offered. Moreover, with the increasing deployment of LTE IoT networks, the requirement for continuous professional services for data management, security, and integration problems is also growing, which makes professional services a key role in the market growth.
By Industry
In 2023, the LTE IoT market is led by the manufacturing industry. This sector has witnessed a surge in IoT adoption as industries leverage IoT-enabled technologies for process optimization, predictive maintenance, and enhanced production efficiency. Global manufacturing will turn to LTE IoT solutions in 2023 to enable real-time visibility of equipment, assets, and workers on the production floor. Various governments are promoting smart manufacturing initiatives to enhance productivity and minimize operational costs which, in turn, drives demand for LTE IoT technologies. Digitalization is present in many industrial policies, such as China’s "Made in China 2025" plan to improve the manufacturing capabilities of the country with IoT-connected production systems.
Similarly, the federal government has designated establishing an advanced smart manufacturing strategy under NIST that encourages the adoption of IoT and high-tech in manufacturing. All these initiatives are likely to drive the LTE IoT market within the manufacturing vertical. One of the major factors fuelling the expansion of LTE IoT in manufacturing is Industry 4.0, or the fourth industrial revolution, which brings together smart sensors, connected devices, and automation into one ecosystem. Additionally, LTE IoT enables manufacturers to utilize their supply chains, track inventory, and optimize energy consumption, as well as prevent downtime all of which are essential features needed to remain competitive in the global economy. As industrial IoT (IIoT) continues to grow, LTE IoT solutions are leveraged to bring cost savings and greater efficiency, safety, and quality for manufacturers, making the vertical the largest contributor to the LTE IoT market.
By Technology
Narrowband IoT (NB-IoT) led the LTE IoT market with a 56% share in 2023, due to its low power consumption, wide coverage, and mass connection capability that suit both urban and rural area needs. NB-IoT, or Narrowband IoT, is a key technology for many IoT applications with very deep indoor coverage requirements like smart meters in closed areas, agriculture sensors environmental monitoring, and the like. Governments around the world have also noticed the value of NB-IoT as an ideal technology for solving large-scale IoT connection problems. As one example, the NB-IoT is receiving direct state investment to develop a national IoT network in China. NB-IoT remains a cornerstone technology in China’s IoT strategy, with the Chinese Ministry of Industry and Information Technology (MIIT) declaring the deployment of over 100M NB-IoT connections in 2023.
Additionally, the European Union has been adding pressure on the mass deployment of NB-IoT, as part of its push to enable smart cities and industrial automation. NB-IoT is naturally the ideal choice for battery-powered IoT applications due to its low power consumption, allowing them to operate for extended periods without frequent recharging. With an increasing number of devices connected to the Internet, NB-IoT solutions will see constant demand, with a projected market share exceeding 40% in 2023. This growth is fueled by the low-cost and mass scalability advantages offered by NB-IoT over the large majority of IoT applications, making it the technology of choice for many businesses and governments.
The Europe region dominated the LTE IoT market with a 38% market share in 2023. This growth is driven by robust government initiatives, for example, EU Digital Compass and Horizon 2020, leading to growing investment in smart city projects and digital infrastructure. Europe has embraced IoT across sectors such as manufacturing, healthcare, and transportation, with Germany at the forefront due to Industry 4.0. The increasing demand for NB-IoT and 5G IoT solutions in the region enhances its market position. The usual regulatory framework in Europe, and in particular the GDPR, provides secure LTE IoT deployments with great scalability. Established companies such as Ericsson, Vodafone, and Orange are also playing a key role in the market and building LTE IoT infrastructure and services.
The Asia-Pacific region accounted significant share, this dominance is primarily driven by the rapid adoption of LTE IoT technologies in countries like China, Japan, South Korea, and India. Regional governments have been particularly proactive in pushing digital infrastructure development, such as China’s Smart Cities program and Japan’s Society 5.0 vision that utilizes IoT technologies for building smart cities and automating key industries.
The fastest-growing region in the LTE IoT market is expected to be North America, particularly the United States, which is experiencing rapid LTE IoT adoption across various sectors, including manufacturing, healthcare, and transportation. The U.S. is projected to grow at a significant CAGR during 2023 owing to the increasing government support to establish IoT-integrated infrastructure projects along with the rising adoption of smart city initiatives. The U.S. government has allocated significant funds for advancing 5G and IoT technologies, including investments in rural IoT connectivity and smart grid systems.
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In February 2023, Soracom and UnaBiz unveiled a new and original LTE-M IoT button powered by Soracom's innovative eSIM technology and exceptional cloud connectivity. This handy device makes it easier with IoT applications through one-click data transmission to Soracom or UnaBiz platforms, making it versatile for different usages.
Renesas In August 2023, Renesas paid $249 million to buy Sequans Communications S.A. and has gained Sequans' 5G/4G connectivity solutions to complement its high-end Internet of Things (IoT) portfolio. The deal allows Renesas to enter the WAN market to meet the demand for smart meters, asset tracking, smart homes, and connected vehicles.
Service Providers / Manufacturers
Ericsson (Radio System, IoT Accelerator)
Qualcomm (Snapdragon X55, 5G IoT Modem)
Huawei (5G IoT Module, eLTE IoT Gateway)
Nokia (AirScale, Flexi Zone)
Intel (Xeon D-2100, LTE IoT Module)
Renesas Electronics (RH1NS200, RX Family)
Sequans Communications (Monarch 2, Calliope 2)
Sierra Wireless (AirLink, Octave IoT)
Telit (LE910, HE910)
Orange (Smart IoT, IoT Solutions)
Key Users
BMW
General Electric
Siemens
Caterpillar
Nestlé
BP
Schneider Electric
Bosch
Tesla
Amazon
| Report Attributes | Details |
| Market Size in 2023 | US$ 2.7 Billion |
| Market Size by 2032 | US$ 23.6 Billion |
| CAGR | CAGR of 27.3% from 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Technology (LTE-M, NB-IoT) • By Service (Professional Services, Managed Services) • By Industry (Manufacturing, Energy and utilities, Transportation and logistics, Healthcare, Agriculture) |
| Regional Analysis/Coverage |
North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America)
|
| Company Profiles | Ericsson, Qualcomm, Huawei, Nokia, Intel, Renesas Electronics, Sequans Communications, Sierra Wireless, Telit, Orange. |
| Key Drivers | • Increased adoption of IoT technologies in industrial sectors is boosting demand for reliable and scalable LTE IoT solutions, enhancing automation and operational efficiency. • The growing use of LTE IoT in healthcare, especially for remote patient monitoring and telemedicine, is driving market growth as it improves patient care and operational efficiency. • With the rise of smart cities and connected devices, the demand for high-speed broadband connectivity is a key driver for LTE IoT adoption. |
| Market Restraints | • The diversity of IoT devices and protocols presents significant interoperability issues, making it difficult to ensure seamless communication across different platforms. • With the increase in IoT-connected devices, there are heightened risks related to data breaches and cyber-attacks, making security a primary challenge. • As the number of connected devices rises, network congestion becomes a concern, potentially affecting the performance of LTE IoT solutions. |
Ans: The LTE IoT Market is projected to reach USD 23.6 billion by 2032.
Ans: The LTE IoT Market is expected to grow at a CAGR of 27.3% during the forecast period of 2024-2032.
Ans: Some of the major key players in Ericsson, Qualcomm, Huawei, Nokia, Intel, Renesas Electronics, Sequans Communications, Sierra Wireless, Telit, and Orange, among others.
Ans: Some of the major key growth drivers of the LTE IoT Market are:
Increased adoption of IoT technologies in industrial sectors is boosting demand for reliable and scalable LTE IoT solutions, enhancing automation and operational efficiency.
The growing use of LTE IoT in healthcare, especially for remote patient monitoring and telemedicine, is driving market growth as it improves patient care and operational efficiency??.
With the rise of smart cities and connected devices, the demand for high-speed broadband connectivity is a key driver for LTE IoT adoption?.
Ans: Some of the challenges in the LTE IoT Market are:
Increased adoption of IoT technologies in industrial sectors is boosting demand for reliable and scalable LTE IoT solutions, enhancing automation and operational efficiency.
The growing use of LTE IoT in healthcare, especially for remote patient monitoring and telemedicine, is driving market growth as it improves patient care and operational efficiency??.
With the rise of smart cities and connected devices, the demand for high-speed broadband connectivity is a key driver for LTE IoT adoption?.
Table of Contents:
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Adoption Rates of Emerging Technologies
5.2 Network Infrastructure Expansion, by Region
5.3 Cybersecurity Incidents, by Region (2020-2023)
5.4 Cloud Services Usage, by Region
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.3.1 Product specifications and features
6.3.2 Pricing
6.4 Strategic Initiatives
6.4.1 Marketing and promotional activities
6.4.2 Distribution and Supply Chain Strategies
6.4.3 Expansion plans and new product launches
6.4.4 Strategic partnerships and collaborations
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. LTE IoT Market Segmentation, By Technology
7.1 Chapter Overview
7.2 LTE-M
7.2.1 LTE-M Market Trends Analysis (2020-2032)
7.2.2 LTE-M Market Size Estimates and Forecasts to 2032 (USD Billion)
7.3 NB-IoT
7.3.1 NB-IoT Market Trends Analysis (2020-2032)
7.3.2 NB-IoT Market Size Estimates and Forecasts to 2032 (USD Billion)
8. LTE IoT Market Segmentation, By Service
8.1 Chapter Overview
8.2 Professional services
8.2.1 Professional Services Market Trends Analysis (2020-2032)
8.2.2 Professional Services Market Size Estimates and Forecasts to 2032 (USD Billion)
8.3 Managed Services
8.3.1 Managed Services Market Trends Analysis (2020-2032)
8.3.2 Managed Services Market Size Estimates and Forecasts to 2032 (USD Billion)
9. LTE IoT Market Segmentation, By Industry
9.1 Chapter Overview
9.2 Manufacturing
9.2.1 Manufacturing Market Trends Analysis (2020-2032)
9.2.2 Manufacturing Market Size Estimates and Forecasts to 2032 (USD Billion)
9.3 Energy and utilities
9.3.1 Energy and Utilities Market Trends Analysis (2020-2032)
9.3.2 Energy and Utilities Market Size Estimates and Forecasts to 2032 (USD Billion)
9.4 Transportation and Logistics
9.4.1 Transportation and Logistics Market Trends Analysis (2020-2032)
9.4.2 Transportation and Logistics Market Size Estimates and Forecasts to 2032 (USD Billion)
9.5 Healthcare
9.5.1 Healthcare Market Trends Analysis (2020-2032)
9.5.2 Healthcare Market Size Estimates and Forecasts to 2032 (USD Billion)
9.6 Agriculture
9.6.1 Agriculture Market Trends Analysis (2020-2032)
9.6.2 Agriculture Market Size Estimates and Forecasts to 2032 (USD Billion)
10. Regional Analysis
10.1 Chapter Overview
10.2 North America
10.2.1 Trends Analysis
10.2.2 North America LTE IoT Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.2.3 North America LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.2.4 North America LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.2.5 North America LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.2.6 USA
10.2.6.1 USA LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.2.6.2 USA LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.2.6.3 USA LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.2.7 Canada
10.2.7.1 Canada LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.2.7.2 Canada LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.2.7.3 Canada LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.2.8 Mexico
10.2.8.1 Mexico LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.2.8.2 Mexico LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.2.8.3 Mexico LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Trends Analysis
10.3.1.2 Eastern Europe LTE IoT Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.3.1.3 Eastern Europe LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.3.1.4 Eastern Europe LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.3.1.5 Eastern Europe LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.1.6 Poland
10.3.1.6.1 Poland LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.3.1.6.2 Poland LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.3.1.6.3 Poland LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.1.7 Romania
10.3.1.7.1 Romania LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.3.1.7.2 Romania LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.3.1.7.3 Romania LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.1.8 Hungary
10.3.1.8.1 Hungary LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.3.1.8.2 Hungary LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.3.1.8.3 Hungary LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.1.9 Turkey
10.3.1.9.1 Turkey LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.3.1.9.2 Turkey LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.3.1.9.3 Turkey LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.1.10 Rest of Eastern Europe
10.3.1.10.1 Rest of Eastern Europe LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.3.1.10.2 Rest of Eastern Europe LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.3.1.10.3 Rest of Eastern Europe LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.2 Western Europe
10.3.2.1 Trends Analysis
10.3.2.2 Western Europe LTE IoT Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.3.2.3 Western Europe LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.3.2.4 Western Europe LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.3.2.5 Western Europe LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.2.6 Germany
10.3.2.6.1 Germany LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.3.2.6.2 Germany LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.3.2.6.3 Germany LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.2.7 France
10.3.2.7.1 France LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.3.2.7.2 France LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.3.2.7.3 France LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.2.8 UK
10.3.2.8.1 UK LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.3.2.8.2 UK LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.3.2.8.3 UK LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.2.9 Italy
10.3.2.9.1 Italy LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.3.2.9.2 Italy LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.3.2.9.3 Italy LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.2.10 Spain
10.3.2.10.1 Spain LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.3.2.10.2 Spain LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.3.2.10.3 Spain LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.2.11 Netherlands
10.3.2.11.1 Netherlands LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.3.2.11.2 Netherlands LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.3.2.11.3 Netherlands LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.2.12 Switzerland
10.3.2.12.1 Switzerland LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.3.2.12.2 Switzerland LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.3.2.12.3 Switzerland LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.2.13 Austria
10.3.2.13.1 Austria LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.3.2.13.2 Austria LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.3.2.13.3 Austria LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.3.2.14 Rest of Western Europe
10.3.2.14.1 Rest of Western Europe LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.3.2.14.2 Rest of Western Europe LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.3.2.14.3 Rest of Western Europe LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.4 Asia Pacific
10.4.1 Trends Analysis
10.4.2 Asia Pacific LTE IoT Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.4.3 Asia Pacific LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.4.4 Asia Pacific LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.4.5 Asia Pacific LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.4.6 China
10.4.6.1 China LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.4.6.2 China LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.4.6.3 China LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.4.7 India
10.4.7.1 India LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.4.7.2 India LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.4.7.3 India LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.4.8 Japan
10.4.8.1 Japan LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.4.8.2 Japan LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.4.8.3 Japan LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.4.9 South Korea
10.4.9.1 South Korea LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.4.9.2 South Korea LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.4.9.3 South Korea LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.4.10 Vietnam
10.4.10.1 Vietnam LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.4.10.2 Vietnam LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.4.10.3 Vietnam LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.4.11 Singapore
10.4.11.1 Singapore LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.4.11.2 Singapore LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.4.11.3 Singapore LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.4.12 Australia
10.4.12.1 Australia LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.4.12.2 Australia LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.4.12.3 Australia LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.4.13 Rest of Asia Pacific
10.4.13.1 Rest of Asia Pacific LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.4.13.2 Rest of Asia Pacific LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.4.13.3 Rest of Asia Pacific LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.5 Middle East and Africa
10.5.1 Middle East
10.5.1.1 Trends Analysis
10.5.1.2 Middle East LTE IoT Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.5.1.3 Middle East LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.5.1.4 Middle East LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.5.1.5 Middle East LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.5.1.6 UAE
10.5.1.6.1 UAE LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.5.1.6.2 UAE LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.5.1.6.3 UAE LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.5.1.7 Egypt
10.5.1.7.1 Egypt LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.5.1.7.2 Egypt LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.5.1.7.3 Egypt LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.5.1.8 Saudi Arabia
10.5.1.8.1 Saudi Arabia LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.5.1.8.2 Saudi Arabia LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.5.1.8.3 Saudi Arabia LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.5.1.9 Qatar
10.5.1.9.1 Qatar LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.5.1.9.2 Qatar LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.5.1.9.3 Qatar LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.5.1.10 Rest of Middle East
10.5.1.10.1 Rest of Middle East LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.5.1.10.2 Rest of Middle East LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.5.1.10.3 Rest of Middle East LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.5.2 Africa
10.5.2.1 Trends Analysis
10.5.2.2 Africa LTE IoT Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.5.2.3 Africa LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.5.2.4 Africa LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.5.2.5 Africa LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.5.2.6 South Africa
10.5.2.6.1 South Africa LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.5.2.6.2 South Africa LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.5.2.6.3 South Africa LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.5.2.7 Nigeria
10.5.2.7.1 Nigeria LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.5.2.7.2 Nigeria LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.5.2.7.3 Nigeria LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.5.2.8 Rest of Africa
10.5.2.8.1 Rest of Africa LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.5.2.8.2 Rest of Africa LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.5.2.8.3 Rest of Africa LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.6 Latin America
10.6.1 Trends Analysis
10.6.2 Latin America LTE IoT Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.6.3 Latin America LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.6.4 Latin America LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.6.5 Latin America LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.6.6 Brazil
10.6.6.1 Brazil LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.6.6.2 Brazil LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.6.6.3 Brazil LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.6.7 Argentina
10.6.7.1 Argentina LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.6.7.2 Argentina LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.6.7.3 Argentina LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.6.8 Colombia
10.6.8.1 Colombia LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.6.8.2 Colombia LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.6.8.3 Colombia LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
10.6.9 Rest of Latin America
10.6.9.1 Rest of Latin America LTE IoT Market Estimates and Forecasts, By Technology (2020-2032) (USD Billion)
10.6.9.2 Rest of Latin America LTE IoT Market Estimates and Forecasts, By Service (2020-2032) (USD Billion)
10.6.9.3 Rest of Latin America LTE IoT Market Estimates and Forecasts, By Industry (2020-2032) (USD Billion)
11. Company Profiles
11.1 Ericsson
11.1.1 Company Overview
11.1.2 Financial
11.1.3 Products/ Services Offered
11.1.4 SWOT Analysis
11.2 Qualcomm
11.2.1 Company Overview
11.2.2 Financial
11.2.3 Products/ Services Offered
11.2.4 SWOT Analysis
11.3 Huawei
11.3.1 Company Overview
11.3.2 Financial
11.3.3 Products/ Services Offered
11.3.4 SWOT Analysis
11.4 Nokia
11.4.1 Company Overview
11.4.2 Financial
11.4.3 Products/ Services Offered
11.4.4 SWOT Analysis
11.5 Intel
11.5.1 Company Overview
11.5.2 Financial
11.5.3 Products/ Services Offered
11.5.4 SWOT Analysis
11.6 Renesas Electronics
11.6.1 Company Overview
11.6.2 Financial
11.6.3 Products/ Services Offered
11.6.4 SWOT Analysis
11.7 Sequans Communications
11.7.1 Company Overview
11.7.2 Financial
11.7.3 Products/ Services Offered
11.7.4 SWOT Analysis
11.8 Sierra Wireless
11.8.1 Company Overview
11.8.2 Financial
11.8.3 Products/ Services Offered
11.8.4 SWOT Analysis
11.9 Telit
11.9.1 Company Overview
11.9.2 Financial
11.9.3 Products/ Services Offered
11.9.4 SWOT Analysis
11.10 Orange
11.10.1 Company Overview
11.10.2 Financial
11.10.3 Products/ Services Offered
11.10.4 SWOT Analysis
12. Use Cases and Best Practices
13. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
Key Segments:
By Technology
LTE-M
NB-IoT
By Service
Professional services
Managed services
By Industry
Manufacturing
Energy and utilities
Transportation and logistics
Healthcare
Agriculture
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REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
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Available Customization
With the given market data, SNS Insider offers customization as per the company’s specific needs. The following customization options are available for the report:
Product Analysis
Criss-Cross segment analysis (e.g. Product X Application)
Product Matrix which gives a detailed comparison of product portfolio of each company
Geographic Analysis
Additional countries in any of the regions
Company Information
Detailed analysis and profiling of additional market players (Up to five)
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The Workforce Management Market Size was valued at USD 8.5 Billion in 2023 and will reach USD 19.4 Billion by 2032, growing at a CAGR of 9.6% by 2032.
The Passwordless Authentication Market size was valued at USD 17.1 billion in 2024 and will grow to USD 71.2 billion by 2032 and grow at a CAGR of 17.2 % by 2032.
Industrial IoT (IIoT) Platform Market was valued at USD 9.8 billion in 2023 and is expected to reach USD 30.33 billion by 2032, growing at a CAGR of 13.41% from 2024-2032.
Big Data Analytics Market was valued at USD 284.3 billion in 2023 and is expected to reach USD 842.6 billion by 2032, growing at a CAGR of 12.9% from 2024-2032.
IoT Energy Management Market was valued at USD 71.23 billion in 2023 and is expected to reach USD 311.86 billion by 2032, growing at a CAGR of 17.89% by 2032.
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