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Global Cellular IoT and Low-Power Wide-Area Network (LPWAN) Market, Forecast to 2030

Publisher Frost & Sullivan
Published Sep 24, 2025
SKU # MC20451235

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).

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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