Get more information LTE IoT Market - Request Free Sample Report
The LTE IoT Market Size was valued at USD 2.49 Billion in 2023 and is expected to reach USD 18.09 Billion by 2031 and grow at a CAGR of 28.41% over the forecast period 2024-2031.
By placing IoT devices like sensors and trackers on a single network, LTE IoT links them to the internet. It enables Low-Power Wide-Area Network (LPWAN) applications to interact securely and reliably across long distances. LTE IoT addresses the demands of low-power devices by utilizing a diverse set of mobile networks that can link these devices to a cell tower a few dozen miles away. LTE IoT technologies such as LTE-M and NB-IoT operate on a licensed spectrum, which guarantees IoT device performance and quality of service via Service-Level Agreements (SLAs).
LTE (Long Term Evolution), the fourth generation of mobile phone standards produced by the 3GPP (3rd Generation Partnership Project), delivers up to seven times higher upload rates with upload speeds of up to 50mbps. Because the core design of UMTS remains, retrofitting the infrastructure of UMTS (3G) to LTE-Advanced (4G) will not be a problem. In addition to increased capacity, the advantages of 4G LTE include much shorter latency times. These are critical for the seamless retrieval of IoT applications that rely on real-time data, such as data from production systems or traffic information.
On March 3, 2022, Alif Semiconductor, a global provider of microcontrollers and fusion processors, and IoT satellite operator OQ Technology agreed to collaborate on a narrowband internet-of-things (NB-IoT) solution for hybrid terrestrial satellite networking. Users will be able to wander freely between mobile networks on the ground and OQ's IoT satellite constellation anywhere in the globe thanks to Alifs' fingertip-sized, fully integrated cellular-enabled IoT devices.
KEY DRIVERS:
The number of connected devices is increasing.
Unique and Defined Network Qualities are Required.
Increased Demand for Long-Distance Connectivity Between IoT Applications.
RESTRAINTS:
Downtime in Operations Due to Network Infrastructure Upgrade.
OPPORTUNITY:
Demand for Secured Connectivity for IoT Applications is Growing.
CHALLENGES:
Additional Requirements for LTE IoT Technology Deployment.
Deployment has a high initial cost.
The proliferation of COVID-19 has had an influence on several areas, including the primary markets for LTE IoT technologies. For example, the construction industry is seeing slower development as a result of COVID, with many ongoing projects either stopped or canceled. This prevents the installation of further IoT devices, such as smart street lighting, meters, and parking meters. Furthermore, the pandemic had an impact on the consumer and retail markets, with sales of smart gadgets and smart appliances declining as a result. All of these gadgets make active use of the NB-IoT Chipset.
The market is divided into two sub-segments based on technology: NB-IoT and LTE-M. LTE-M is a high-throughput, low-latency technology standard. Its goal is to lower modem costs, simplify and broaden coverage, and improve data privacy and security. NB-IoT is a low power wide area network standard (LPWA). High demand for NB-IoT for increased coverage, network stability and security, speedy rollout, and cost-effectiveness is likely to drive the worldwide LTE IoT business in the future years.
The market is divided into two service segments: professional services and managed services. During the projected period, the professional services category is predicted to have a bigger market share than managed services. This is due to the fact that professional services are required both before and after the adoption of LTE IoT technology. These services include planning, design, and implementation, as well as advising, support and maintenance, and updates. It also helps consumers comprehend the viability of their project.
Manufacturing, energy and utilities, transportation and logistics, healthcare, and agriculture are the end-user segments of the market. During the projected period, the manufacturing industry is likely to be the greatest contributor to the LTE IoT market growth. This can be ascribed to technological improvements such as robots and automated manufacturing lines. Many manufacturers are incorporating IoT solutions, sensors, and IoT wireless connection platforms into their operations, changing them into smart manufacturing. Increase. This gives producers flexibility and interoperability.
Because of the broad deployment of LTE technology for corporate IoT applications, Europe leads the LTE IoT market. In terms of LTE IoT coverage area, the region leads. Europe claims to have originated the term "Internet of Things" and has made significant contributions to the global marketing of IoT telephony and linked services. Furthermore, the existence of telecom corporations like as Orange, Vodafone, and Deutsche Telekom is crucial in introducing advancements to the telecom business. This allows the region to embrace new technologies like LTE-M and NB-IoT. Furthermore, government activities to promote the adoption of such technologies are assisting manufacturers in developing new sophisticated technologies.
The European Commission and member states of the European Union are committed to establishing plans to encourage experimentation and the implementation of IoT telecom and linked services. Germany, the United Kingdom, and France are Europe's top three contributors to the LTE IoT market. Increased telco cloud use, rising data consumption, rapid adoption of smart devices, and lower costs of IoT components with advancing wireless technologies, such as 5G and NB-IoT, will promote the overall expansion of LTE IoT.
Need do need any custom research on LTE IoT Market - Enquiry Now
KEY PLAYERS:
The major key players are Ericsson, NetNumber, Vodafone, Athonet, Link Labs, Telstra, Sequans Communications, Sierra Wireless, MediaTek, PureSoftware & Other Players
| Report Attributes | Details |
| Market Size in 2023 | US$ 2.49 Billion |
| Market Size by 2031 | US$ 18.09 Billion |
| CAGR | CAGR of 28.41% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Technology (NB-IoT and LTE-M) • by Services (Professional Services and Managed Services) • by End-User Industry (Manufacturing, Energy and Utilities, Transportation and Logistics, Healthcare, Agriculture) |
| Regional Analysis/Coverage |
North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Ericsson, NetNumber, Vodafone, Athonet, Link Labs, Telstra, Sequans Communications, Sierra Wireless, MediaTek, PureSoftware |
| Key Drivers | • The number of connected devices is increasing • Unique and Defined Network Qualities are Required |
| Market Opportunities | • Demand for Secured Connectivity for IoT Applications is Growing |
Ans: - The LTE IoT market size was valued at USD 2.97 Bn in 2022.
Ans: Additional Requirements for LTE IoT Technology Deployment is very challgenging part for LTE IoT Market.
Ans: - The segments covered in the LTE IoT study are on the basis of the technology, Services, and End-User Industry.
Ans. The primary growth tactics of LTE IoT participants include merger and acquisition, business expansion, and product launch.
Ans: - The study includes a comprehensive analysis of Digital Printing Market trends, as well as present and future market forecasts. DROC analysis, as well as impact analysis for the projected period. Porter's five forces analysis aids in the study of buyer and supplier potential as well as the competitive landscape etc.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. LTE IoT Market Segmentation, by Technology
8.1 NB-IoT
8.2 LTE-M
9. LTE IoT Market Segmentation, by Services
9.1 Professional Services
9.2 Managed Services
10. LTE IoT Market Segmentation, by End-User Industry
10.1 Manufacturing
10.2 Energy and Utilities
10.3 Transportation and Logistics
10.4 Healthcare
10.5 Agriculture
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Ericsson
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 NetNumber
12.3 Vodafone
12.4 Athonet
12.5 Link Labs
12.6 Telstra
12.7 Sequans Communications
12.8 Sierra Wireless
12.9 MediaTek
12.10 PureSoftware
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
14. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
On The Basis of Technology
NB-IoT
LTE-M
On The Basis of Services
Professional Services
Managed Services
On The Basis of End-User Industry
Manufacturing
Energy and Utilities
Transportation and Logistics
Healthcare
Agriculture
Request for Segment Customization as per your Business Requirement: Segment Customization Request
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Request for Country Level Research Report: Country Level Customization Request
Available Customization
With the given market data, SNS Insider offers customization as per the company’s specific needs. The following customization options are available for the report:
Product Analysis
Criss-Cross segment analysis (e.g. Product X Application)
Product Matrix which gives a detailed comparison of the product portfolio of each company
Geographic Analysis
Additional countries in any of the regions
Company Information
Detailed analysis and profiling of additional market players (Up to five)
The Artificial Intelligence of Things Market was valued at USD 28.15 Bn in 2023 and is projected to grow at a CAGR of 33.13% over 2024-2032 to reach USD 369.18.
The Digital Education market size was valued at USD 19.0 Billion in 2023 and is expected to reach USD 180.23 Billion by 2032 and grow at a CAGR of 28.4% over the forecast period 2024-2032.
The High Availability Server Market Size was USD 13.67 Billion in 2023 and will reach to USD 24.31 Billion by 2032 with a growing CAGR of 6.61% by 2024-2032.
The Wearable Payments Market was valued at USD 632.50 billion in 2023 and is projected to reach USD 3622.66 billion by 2032, growing at a remarkable CAGR of 21.4% from 2024 to 2032.
The Restaurant Point of Sale Terminal Market Size was USD 21.49 Billion in 2023 & will reach to USD 48.46 Bn by 2032 & grow at a CAGR of 9.5% by 2024-2032.
The Smart Contracts Market Size was valued at USD 1.6 Billion in 2023 and will reach USD 11.7 Billion by 2032, growing at a CAGR of 24.7% by 2032.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
