
Global Cellular IoT and Low-Power Wide-Area Network (LPWAN) Market, Forecast to 2030
Description
With the emergence of generative AI (GenAI), embedded SIM (eSIM), and satellite networks, the Internet of Things (IoT) space is undergoing a profound transformation. In response to these emerging trends, this study provides an overview of the traditional cellular IoT, massive cellular IoT, and non-licensed low-power wide area network (LPWAN) markets.
Traditional cellular IoT connections are expected to grow from 2.77 billion in 2024 to 4.46 billion in 2030 at a compound annual growth rate (CAGR) of 8.3%, fueled by massive growth in IoT connections in China and investments in automotive, manufacturing, and banking and financial services that require 4G and 5G. Massive cellular IoT will grow at a 16.3% CAGR between 2024 and 2030, as operators migrate 2G/3G devices to LTE-M and NB-IoT and 5G RedCap grows exponentially.
Non-licensed LPWAN connections are forecast to grow from 0.50 billion in 2024 to 1.06 billion in 2030 at a 13.3% CAGR, mainly due to investments from utilities seeking to modernize electricity grids and replace gas/water meters with battery-powered, large-coverage, and low-cost devices on a large scale. Furthermore, customers are accelerating the adoption of LPWAN technologies, such as LoRaWAN, Sigfox, and Wi-SUN, for large-scale deployments in street lighting, asset tracking, agriculture, and smart buildings.
This study analyzes these 3 markets, highlighting their key drivers and restraints, as well as market size. 2024 is the base year, and the forecast period is from 2025 to 2030. The study is segmented by technology type, region, vertical, and network type (public and private).
Traditional cellular IoT connections are expected to grow from 2.77 billion in 2024 to 4.46 billion in 2030 at a compound annual growth rate (CAGR) of 8.3%, fueled by massive growth in IoT connections in China and investments in automotive, manufacturing, and banking and financial services that require 4G and 5G. Massive cellular IoT will grow at a 16.3% CAGR between 2024 and 2030, as operators migrate 2G/3G devices to LTE-M and NB-IoT and 5G RedCap grows exponentially.
Non-licensed LPWAN connections are forecast to grow from 0.50 billion in 2024 to 1.06 billion in 2030 at a 13.3% CAGR, mainly due to investments from utilities seeking to modernize electricity grids and replace gas/water meters with battery-powered, large-coverage, and low-cost devices on a large scale. Furthermore, customers are accelerating the adoption of LPWAN technologies, such as LoRaWAN, Sigfox, and Wi-SUN, for large-scale deployments in street lighting, asset tracking, agriculture, and smart buildings.
This study analyzes these 3 markets, highlighting their key drivers and restraints, as well as market size. 2024 is the base year, and the forecast period is from 2025 to 2030. The study is segmented by technology type, region, vertical, and network type (public and private).
Table of Contents
- Research Scope
- Scope of Analysis
- Market Definitions
- Segmentation by Connectivity Protocol
- Strategic Imperatives
- Why is it Increasingly Difficult to Grow?
- The Strategic Imperative 8™
- The Impact of the Top 3 Strategic Imperatives on the Cellular IoT and LPWAN Industry
- Growth Opportunity Analysis Traditional Cellular IoT
- Growth Metrics
- Growth Drivers
- Growth Restraints
- Connections Forecast
- Connections Forecast by Technology
- Connections Forecast by Region
- Connections Forecast by Vertical
- Connections Forecast by Type of Network
- Forecast Analysis
- Growth Opportunity Analysis Massive Cellular IoT
- Growth Metrics
- Growth Drivers
- Growth Restraints
- Connections Forecast
- Connections Forecast by Technology
- Connections Forecast by Region
- Connections Forecast by Vertical
- Connections Forecast by Type of Network
- Forecast Analysis
- Growth Opportunity Analysis Massive Non-Licensed LPWAN
- Growth Metrics
- Growth Drivers
- Growth Restraints
- Connections Forecast
- Connections Forecast by Technology
- Connections Forecast by Region
- Connections Forecast by Vertical
- Connections Forecast by Type of Network
- Forecast Analysis
- Growth Opportunity Universe
- Growth Opportunity 1: Connected/Autonomous Vehicles for Efficient and Accident-Free Transportation
- Growth Opportunity 2: Non-Licensed LPWAN Technology for Smart Cities
- Growth Opportunity 3: Alliances Encourage the Utility Ecosystem to Promote Massive Cellular IoT and LPWAN Technologies and Interoperability
- Appendix & Next Steps
- Benefits and Impacts of Growth Opportunities
- Next Steps
- List of Exhibits
- Legal Disclaimer
- Research Scope
- Scope of Analysis
- Market Definitions
- Market Definitions continued
- Segmentation by Connectivity Protocol
- Strategic Imperatives
- Why is it Increasingly Difficult to Grow?
- The Strategic Imperative 8™
- The Impact of the Top 3 Strategic Imperatives on the Cellular IoT and LPWAN Industry
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