Global Cellular and LPWA IoT Device Ecosystems Market Report 2021: Overview of the Main Wide Area Networking Technologies for the Internet of Things
DUBLIN, June 17, 2021 /PRNewswire/ -- The "Cellular and LPWA IoT Device Ecosystems - 5th Edition" report has been added to ResearchAndMarkets.com's offering.
The analyst estimates that global cellular IoT module shipments increased by 14 percent to a new record level of 303 million in 2020. Annual revenues grew slower at 8 percent to reach US$ 3.4 billion.
Cellular and LPWA IoT Device Ecosystems gives a comprehensive overview of the main wide area networking technologies for the Internet of Things - 2G/3G/4G/5G cellular, LoRa, Sigfox and 802.15.4 WAN.
The Internet of Things is weaving a new worldwide web of interconnected objects. As of Q1-2021, about 2.1 billion devices were connected to wide area networks based on cellular or LPWA technologies. The market is highly diverse and divided into multiple ecosystems. The analyst forecasts that annual shipments of cellular and non-3GPP LPWA IoT modules will grow at a compound annual growth rate (CAGR) of 18.7 percent from 363 million units in 2020 to 855 million units in 2025.
While the COVID-19 pandemic affected demand in several major application areas in 2020, the global chipset shortage will have a broader impact on the market in 2021 and curb the growth of IoT device shipments in the near term. Until 2025, the analyst forecasts that cellular IoT module shipments will grow at a compound annual growth rate (CAGR) of 15.8 percent to reach 629.6 million units.
The results of the latest cellular IoT module vendor market share assessment show that the five largest module vendors, including Quectel, Sierra Wireless, Sunsea AIoT, Fibocom and Thales, have 71 percent of the market in terms of revenues. "The performance of the top vendors varied markedly in the year, to some extent due to different exposure to geographical and vertical markets that were affected by the COVID-19 pandemic", says Fredrik Stalbrand, Senior Analyst. China-based Quectel and Fibocom experienced the highest module sales growth at around 40 percent, driven by strong demand for 4G LTE and LPWA products. In the coming year, Quectel is set to surpass the US$ 1 billion mark in annual revenues, the first of any cellular IoT module provider.
Following the commercial availability of 5G modules in mid-2020, several IoT device makers launched 5G devices during the year. These include a number of IoT gateway vendors, as well as car makers in China.
A wider range of IoT devices supporting 5G networks are expected to reach the market in 2021 and beyond as network coverage improves and IoT-optimised modems become available in volume with attractive pricing. Another key accelrator for the adoption of 5G in the IoT market will be support for reduced capability (RedCap) devices that will be introduced in the upcoming 3GPP Release 17.
Sometimes also called NR Light, RedCap devices will be less expensive compared to the 5G devices that are being deployed today and offer higher data rates than LPWA technologies like LTE-M and NB-IoT. Modules supporting the specification will likely reach the market in 2023 and increase the addressable market for 5G NR into use cases like wearables, video surveillance and industrial monitoring.
Highlights from the report:
This report answers the following questions:
Key Topics Covered:
1 Wide area networks for the Internet of Things
2 3GPP ecosystem
3 LoRa and LoRaWAN ecosystem
4 Sigfox ecosystem
5 802.15.4 WAN ecosystem
6 Vertical market segments
7 Market forecasts and trends
For more information about this report visit https://www.researchandmarkets.com/r/a3fl3j
Research and Markets
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SOURCE Research and Markets