Of late, the global cellular Internet of things (IoT) marketis displaying a significant surge in its size and valuation. The ubiquitousmobility, robust networks, and strong security are the main factors that aredriving the growth of this market across the world. In addition to this, theincreasing need for connecting several low power high density andcost-efficient devices at a reasonable scale is expected to fuel the demand forcellular IoT platforms substantially.

The significant increase in the uptake of LTE and thecontinuous technological advancements in the IoT ecosystem, globally, are theprime factors behind the rising demand for IoT over traditional cellularnetworks. Apart from this, the ability to function with local networkingtechnologies and connectivity, such as Bluetooth and Wi-Fi, are also makingconsumers prefer cellular IoT solutions, which is expected to reflectpositively on the growth of the global market for cellular IoT.

Various applications, such as healthcare deviceconnectivity, fleet management, automotive connectivity, and wearables, arelikely to fuel the uptake of cellular networks in the near future,subsequently, driving the need for cellular IoT. Additionally, the wideningapplication base of cellular IoT, which includes applications, such as weathermonitoring systems, smart metering, infrastructure security systems,agricultural management, flood management, and personnel traffic patternmonitoring, are also projected to boost this market considerably in the nearfuture.

IoT (Internet of Things) technologies are growing rapidlyand along with this, cellular IOT is also evolving due to increasing demand oflow power and low bandwidth cellular connectivity solutions. Cellular internetof things (IOT) uses existing machine to machine network to provide an accesslayer specifically designed for low power IOT applications. Cellular IOTprovides range of connectivity services with greater visibility and controlover all the connected devices in network. This technology uses existingnetwork infrastructure to provide wide range of coverage and reliableconnectivity to benefit businesses. Cellular IoT meets the requirements oflow-power and long-range applications. The cellular IOT operations are designedto ensure reliability and optimized performance as the number of mobile devicesneeding a low power, low bandwidth connection increases in a network. Thecellular internet of things enables manufacturers to access new and costefficient communication hardware that can operate on a small battery for longertime and is connected to global network through the dedicated access layer. Itallows customers to connect devices using deep indoors or underground places,such as water meters, parking monitors and gas meters. Cellular IOT can be usedto connect simple devices, such as sensors, and others to reduce operationalcosts and create new business models. Smart meters, environmental monitoringand precision agriculture are some of the applications of cellular IOT.

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 Adoption of IOT in cellular technology is increasing due togrowing demand for long network coverage and capability to accommodate hugenumber of connected devices. Also cellular technology has been used withmachine to machine (M2M) applications such as asset tracking, utility meteringand others where adoption of IOT with existing infrastructure is saving hugelabor and cost. Moreover, the requirement for end-to-end security among networkconnected devices has increased which contributes to the growth of cellular IoTmarket. Along with these, the demand for energy management and low powerconsumption and initiation of green homes drives leads the growth of thecellular IOT market. Thus, factors such as the demand for optimizedlonger-range communications with the increasing demand for strong connectivitybetween mobiles across a wide area is anticipated to drive the market duringthe forecast period.

Lack of awareness of IOT technologies among manufacturersand users is one of the major challenge faced in the growth of cellular IOTmarket. IoT covers a wide range of applications that requires high bandwidth,like real-time surveillance and asset tracking where small data throughput isrequired. Also there are certainly many handovers as mobile move which mightnot be possible in cellular IOT. This means that cellular IOT may not fit thespecific needs of an IoT solution. All such factors are expected to restrictthe market growth during the forecast period.

The cellular IoT market can be segmented on the basis ofgeography, type, offerings and end-use applications. The market is segmentedinto North America, Europe, Asia Pacific (APAC), Middle East & Africa(MEA), and South America on the basis of geography. Investment from the U.S.government for the implementation of Cellular IoT across various sectors suchas utilities, and building automation provides growth opportunities to thecellular IoT market. On the basis of offering, the market is segmented intohardware and software. On the basis of type, the market is segmented into narrowband-IoT(NB-IOT), WCDMA (2G and 3G), 4G, LTE-M (Long term evolution), NB-LTE-M, and 5G.On the basis of end-use application, the market is segmented into Banking,Financial Services and Insurance, IT and telecommunications, healthcare,retail, energy, utilities, transportation and others.

Key players in the cellular-IoT market are QualcommTechnologies, Inc., Gemalto NV, U-Blox Holding AG, MediaTek Inc., TelitCommunications PLC, ZTE Corporation, Vodafone Group Plc, SequansCommunications, and CommSolid GmbH.

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