Report Id: SNS/ICT/1790 | June 2022 | Region: Global | 125 Pages
Report Scope & Overview:
The LTE IoT market size was valued at USD 2.97 Bn in 2022 and is expected to reach USD 23.23 Bn by 2030, and grow at a CAGR of 29.3 % over the forecast period 2023-2030.
By placing IoT devices like sensors and trackers on a single network, LTE IoT links them to the internet. It enables Low-Power Wide-Area Network (LPWAN) applications to interact securely and reliably across long distances. LTE IoT addresses the demands of low-power devices by utilizing a diverse set of mobile networks that can link these devices to a cell tower a few dozen miles away. LTE IoT technologies such as LTE-M and NB-IoT operate on a licensed spectrum, which guarantees IoT device performance and quality of service via Service-Level Agreements (SLAs).
LTE (Long Term Evolution), the fourth generation of mobile phone standards produced by the 3GPP (3rd Generation Partnership Project), delivers up to seven times higher upload rates with upload speeds of up to 50mbps. Because the core design of UMTS remains, retrofitting the infrastructure of UMTS (3G) to LTE-Advanced (4G) will not be a problem. In addition to increased capacity, the advantages of 4G LTE include much shorter latency times. These are critical for the seamless retrieval of IoT applications that rely on real-time data, such as data from production systems or traffic information.
On March 3, 2022, Alif Semiconductor, a global provider of microcontrollers and fusion processors, and IoT satellite operator OQ Technology agreed to collaborate on a narrowband internet-of-things (NB-IoT) solution for hybrid terrestrial satellite networking. Users will be able to wander freely between mobile networks on the ground and OQ's IoT satellite constellation anywhere in the globe thanks to Alifs' fingertip-sized, fully integrated cellular-enabled IoT devices.
The number of connected devices is increasing.
Unique and Defined Network Qualities are Required.
Increased Demand for Long-Distance Connectivity Between IoT Applications.
Downtime in Operations Due to Network Infrastructure Upgrade.
Demand for Secured Connectivity for IoT Applications is Growing.
Additional Requirements for LTE IoT Technology Deployment.
Deployment has a high initial cost.
IMPACT OF COVID-19:
The proliferation of COVID-19 has had an influence on several areas, including the primary markets for LTE IoT technologies. For example, the construction industry is seeing slower development as a result of COVID, with many ongoing projects either stopped or canceled. This prevents the installation of further IoT devices, such as smart street lighting, meters, and parking meters. Furthermore, the pandemic had an impact on the consumer and retail markets, with sales of smart gadgets and smart appliances declining as a result. All of these gadgets make active use of the NB-IoT Chipset.
The market is divided into two sub-segments based on technology: NB-IoT and LTE-M. LTE-M is a high-throughput, low-latency technology standard. Its goal is to lower modem costs, simplify and broaden coverage, and improve data privacy and security. NB-IoT is a low power wide area network standard (LPWA). High demand for NB-IoT for increased coverage, network stability and security, speedy rollout, and cost-effectiveness is likely to drive the worldwide LTE IoT business in the future years.
The market is divided into two service segments: professional services and managed services. During the projected period, the professional services category is predicted to have a bigger market share than managed services. This is due to the fact that professional services are required both before and after the adoption of LTE IoT technology. These services include planning, design, and implementation, as well as advising, support and maintenance, and updates. It also helps consumers comprehend the viability of their project.
Manufacturing, energy and utilities, transportation and logistics, healthcare, and agriculture are the end-user segments of the market. During the projected period, the manufacturing industry is likely to be the greatest contributor to the LTE IoT market growth. This can be ascribed to technological improvements such as robots and automated manufacturing lines. Many manufacturers are incorporating IoT solutions, sensors, and IoT wireless connection platforms into their operations, changing them into smart manufacturing. Increase. This gives producers flexibility and interoperability.
KEY MARKET SEGMENTS:
On The Basis of Technology
On The Basis of Services
On The Basis of End-User Industry
Energy and Utilities
Transportation and Logistics
Because of the broad deployment of LTE technology for corporate IoT applications, Europe leads the LTE IoT market. In terms of LTE IoT coverage area, the region leads. Europe claims to have originated the term "Internet of Things" and has made significant contributions to the global marketing of IoT telephony and linked services. Furthermore, the existence of telecom corporations like as Orange, Vodafone, and Deutsche Telekom is crucial in introducing advancements to the telecom business. This allows the region to embrace new technologies like LTE-M and NB-IoT. Furthermore, government activities to promote the adoption of such technologies are assisting manufacturers in developing new sophisticated technologies.
The European Commission and member states of the European Union are committed to establishing plans to encourage experimentation and the implementation of IoT telecom and linked services. Germany, the United Kingdom, and France are Europe's top three contributors to the LTE IoT market. Increased telco cloud use, rising data consumption, rapid adoption of smart devices, and lower costs of IoT components with advancing wireless technologies, such as 5G and NB-IoT, will promote the overall expansion of LTE IoT.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
The major key players are Ericsson, NetNumber, Vodafone, Athonet, Link Labs, Telstra, Sequans Communications, Sierra Wireless, MediaTek, PureSoftware
|Market Size in 2022||US$ 2.97 Bn|
|Market Size by 2030||US$ 23.23 Bn|
|CAGR||CAGR of 29.3% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by Technology (NB-IoT and LTE-M)
• by Services (Professional Services and Managed Services)
• by End-User Industry (Manufacturing, Energy and Utilities, Transportation and Logistics, Healthcare, Agriculture)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Ericsson, NetNumber, Vodafone, Athonet, Link Labs, Telstra, Sequans Communications, Sierra Wireless, MediaTek, PureSoftware|
|Key Drivers||• The number of connected devices is increasing
• Unique and Defined Network Qualities are Required
|Market Opportunities||• Demand for Secured Connectivity for IoT Applications is Growing|
Frequently Asked Questions (FAQ) :
Ans: - The LTE IoT market size was valued at USD2.3 Bn in 2021.
What are the challenges that will be faced by LTE IoT market?
Ans: - The segments covered in the LTE IoT study are on the basis of the technology, Services, and End-User Industry.
Ans. The primary growth tactics of LTE IoT participants include merger and acquisition, business expansion, and product launch.
Ans: - The study includes a comprehensive analysis of Digital Printing Market trends, as well as present and future market forecasts. DROC analysis, as well as impact analysis for the projected period. Porter's five forces analysis aids in the study of buyer and supplier potential as well as the competitive landscape etc.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
220.127.116.11 United Kingdom
18.104.22.168 South Korea
22.214.171.124 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. LTE IoT Market Segmentation, by Technology
9. LTE IoT Market Segmentation, by Services
9.1 Professional Services
9.2 Managed Services
10. LTE IoT Market Segmentation, by End-User Industry
10.2 Energy and Utilities
10.3 Transportation and Logistics
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profiles
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.5 Link Labs
12.7 Sequans Communications
12.8 Sierra Wireless
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
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