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Global Cellular IoT Connectivity Industry Report 2022-2023 and Forecasts to 2028 Featuring AT&T, China Mobile, China Telecom, China Unicom, Deutsche Telekom, Telef?nica, Verizon, and Vodafone
[February 07, 2024]

Global Cellular IoT Connectivity Industry Report 2022-2023 and Forecasts to 2028 Featuring AT&T, China Mobile, China Telecom, China Unicom, Deutsche Telekom, Telef?nica, Verizon, and Vodafone

DUBLIN, Feb. 7, 2024 /PRNewswire/ -- The "Global Cellular IoT Connectivity Growth Opportunities" report has been added to's offering.

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The global cellular IoT connectivity sector is surging ahead with telecom giants driving expansion through significant new additions in both connections and revenue streams, according to a newly added comprehensive analysis available on our website. The sector is undergoing rapid transformation even as 2G and 3G networks begin to wind down, paving the way for more advanced cellular technologies.

Recent data points to an impressive ascent in global 4G adoption rates, with NB-IoT showcasing a highly accelerated growth trajectory in key markets such as China. As of 2023, 5G has made its commercial debut across many advanced economies, covering regions like APAC, North America, Europe, LATAM, and EMEA, and continues to gain ground in emerging markets.

Key findings from the study include:

  • Projecting an ascent in total cellular IoT market revenue from $8.3 billion in 2022 to an estimated $15.6 billion by 2028.
  • An expected Compound Annual Growth Rate (CAGR) of 10.9% from 2022 to 2028.
  • Major growth in LTE-M adoption across the United States.

Industry Leaders Spearheading Cellular IoT Advancements

Telecom stalwarts, namely China Mobile, China Telecom, China Unicom, AT&T, Verizon, Vodafone, Deutsche Telekom, and Telefónica, are at the forefront of this expansion. These operators not only provide robust connectivity services but are also creating value by forging ecosystems. Collaborations with cloud providers, system integrators, and hardware manufacturers are fostering innovation in next-gen solutions, including 5G RedCap and diverse NTNs.

The breadth of use cases for cellular IoT is expanding, encompassing everthing from simple, low-data deployments to high-throughput, low-latency devices, and latency-sensitive applications fueling edge computing growth. Insights from the study chunk the forecast analysis into various segments, looking closely at protocol types, verticals, and regional impacts on revenue and IoT connections through 2028.

Growth Opportunities Span Diverse Applications

The cellular IoT market is not limited to typical consumer applications; enterprise use cases are equally benefitting from the technology's maturation. As IoT ecosystems evolve, companies are positioned to leverage opportunities across a proliferation of industries, driving innovation and unlocking operational efficiencies.

This detailed exploration of the cellular IoT landscape provides future-facing insights that stakeholders in telecommunications, IoT development, and associated businesses will find integral to planning and strategizing for the coming years. The full analysis underscores the remarkable potential of cellular IoT connectivity as an enduring pillar of technological advancement.

Growth Opportunity Universe

  • Growth Opportunity 1 - Connected/Autonomous Vehicles for Efficient and Accident-Free Transportation
  • Growth Opportunity 2 - IoT/AI/ML Inferencing for Computer Vision and Other Analytics-as-a-Service Solutions
  • Growth Opportunity 3 - Industry 4.0 Solutions for Enhanced Productivity and Zero Accidents
  • Growth Opportunity 4 - Smart City Applications to Serve Citizens Better and Reduce Costs and Carbon Dioxide Emissions

Telecom Operators - Company Profiles

  • AT&T
  • China Mobile
  • China Telecom
  • China Unicom
  • Deutsche Telekom
  • Telefonica
  • Verizon
  • Vodafone

Key Topics Covered:

Strategic Imperatives

  • Why is it Increasingly Difficult to Grow?
  • The Strategic Imperative 
  • The Impact of the Top 3 Strategic Imperatives on the Cellular Internet of Things (IoT) Connectivity Industry
  • Growth Opportunities Fuel the Growth Pipeline Engine

Growth Opportunity Analysis

  • Scope of Analysis
  • Market Definitions
  • Segmentation by Connectivity Protocol
  • Key Competitors
  • Key Questions Addressed
  • Growth Environment
  • Growth Drivers
  • Growth Restraints
  • Forecast Assumptions
  • Growth Metrics
  • Revenue and Cumulative IoT Connections Forecast
  • Revenue Forecast by Connectivity Protocol
  • Revenue Forecast by Region
  • Revenue Forecast by Vertical
  • Cumulative IoT Connections by Connectivity Protocol
  • Cumulative IoT Connections by Region
  • Cumulative IoT Connections by Vertical
  • Revenue and Cumulative IoT Connections Forecast Analysis
  • Revenue Forecast Analysis by Connectivity Protocol
  • Revenue Forecast Analysis by Region
  • Revenue Forecast Analysis by Vertical
  • Pricing Trends and Forecast Analysis
  • Competitive Environment
  • Revenue Share
  • Revenue Share Analysis
  • Cumulative IoT Connections Share
  • Cumulative IoT Connections Share Analysis

For more information about this report visit

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