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Cellular IoT Market size is set to grow by USD 16.44 billion from 2024-2028, Implementation of cellular IoT modules in smart city infrastructure and building automation boost the market, Technavio

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NEW YORK, July 25, 2024 /PRNewswire/ — The global cellular IoT market size is estimated to grow by USD 16.44 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  32.14%  during the forecast period. Implementation of cellular iot modules in smart city infrastructure and building automation is driving market growth, with a trend towards growing applications in vehicle telematics and fleet management. However, increasing number of cyber attacks  poses a challenge. Key market players include AT and T Inc., Celplan, ETM Matteknik AB, Fibocom Wireless Inc., floLIVE, Huawei Technologies Co. Ltd., Intel Corp., MediaTek Inc., Nordic Semiconductor ASA, Qorvo Inc., Qualcomm Inc., Quectel Wireless Solutions Co. Ltd., Semtech Corp., Shield IoT, Skyworks Solutions Inc., Sony Group Corp., Telit, Texas Instruments Inc., Thales Group, u blox AG, UNISOC Shanghai Technologies Co. Ltd., and ZTE Corp..

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Cellular Iot Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 32.14%

Market growth 2024-2028

USD 16445.7 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

24.42

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 33%

Key countries

US, China, Germany, UK, and Japan

Key companies profiled

AT and T Inc., Celplan, ETM Matteknik AB, Fibocom Wireless Inc., floLIVE, Huawei Technologies Co. Ltd., Intel Corp., MediaTek Inc., Nordic Semiconductor ASA, Qorvo Inc., Qualcomm Inc., Quectel Wireless Solutions Co. Ltd., Semtech Corp., Shield IoT, Skyworks Solutions Inc., Sony Group Corp., Telit, Texas Instruments Inc., Thales Group, u blox AG, UNISOC Shanghai Technologies Co. Ltd., and ZTE Corp.

Market Driver

Cellular IoT is gaining significant traction in the use case of vehicle telematics, particularly in off-highway applications. This technology enhances performance and connectivity while optimizing an organization’s assets. The limited availability of technicians for off-highway vehicles, such as cranes and excavators, necessitates the implementation of IoT and telematics solutions. As a result, telematics solution providers are integrating cellular IoT into their offerings, enabling fleet managers and OEMs to effectively monitor equipment and on-road assets, analyze data, and address issues in real-time. These factors are expected to fuel the growth of the global cellular IoT market in the forecast period.

The Cellular IoT market is booming, with trends like smart city infrastructure, building automation, agricultural automation, environmental monitoring, and more driving growth. Key sectors include medical wearables, vehicle telematics, fleet management, and chipsets for wearables and connected healthcare devices. Streetlights and infrastructure monitoring devices are transforming into smart solutions, offering real-time monitoring and data-driven decisions. LPWAN technologies like NB-IoT and LTE-M provide energy-efficient connectivity for low power sensors. However, challenges such as cyberattacks, battery drain attacks, and IoT interoperability remain. Telematics solutions are essential for off-highway vehicles like cranes and excavators. Real-time communication is crucial for security cameras streaming video signals. 2G, 3G, and 4G networks continue to support IoT devices, while Alarms and Detectors, Smart Appliances, Smart Metering, and Surveillance & Monitoring are other significant areas. Cloud networks ensure seamless data transfer and analysis. Security is paramount, as is ensuring IoT device compatibility. 

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Market Challenges

The cellular IoT market encompasses the necessary components for cellular IoT connectivity. This ecosystem simplifies applications for various industries, yet poses risks due to cyberattacks. The increasing number of IoT devices on cellular networks provides opportunities for cybercriminals to exploit vulnerabilities. Cloud networks are crucial for most cellular IoT devices’ operation, but insecure infrastructure can lead to data theft or device hijacking. For instance, cloud-based drones, which process and transmit information, are susceptible to breaches. Such vulnerabilities may compromise networks or other devices, potentially hindering the cellular IoT market’s growth during the forecast period.The Cellular IoT market is experiencing significant growth due to the increasing adoption of IoT in various industries. However, several challenges must be addressed for widespread implementation. Government programs and regulatory compliance pose challenges in terms of spectrum usage and regulatory frameworks. Industry 4.0 and smart city projects require data integrity, security, and network coverage. Battery life, security issues, and connectivity are key concerns for urban infrastructure management in areas like traffic control, waste management, and energy efficiency. Smart Agriculture and Industrial IoT require precision farming, crop monitoring, livestock management, and supply chain optimization. Healthcare and utilities sectors focus on remote patient monitoring, asset tracking, and healthcare system optimization. Transportation and logistics aim for inventory management, customer experience enhancement, and supply chain optimization. Connected devices in energy and utilities require end-to-end security. LTE networks and Vehicle-to-everything (V2X) technologies, including V2V, V2I, V2P, and consumer electronics, present challenges in terms of data protection and regulatory compliance.

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Segment Overview 

This cellular iot market report extensively covers market segmentation by  

Component 1.1 Hardware1.2 SoftwareType 2.1 3G2.2 2G2.3 4G2.4 OthersGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Hardware-  The cellular IoT market in the hardware segment is witnessing notable expansion due to the rising demand for IoT-enabled devices such as sensors, actuators, gadgets, appliances, and machines. These devices are engineered for specific applications and can transmit data over the Internet or other networks, forming a network of interconnected devices. Real-time analytics data is generated through improved machine-to-machine (M2M) communication, enhancing the dependability and productivity of hardware devices. Sensors are the most critical hardware components used alongside machines in various industries, including manufacturing, logistics, and healthcare. The demand for IoT-enabled sensors is escalating due to the requirement for real-time data and analytics in these sectors. To IoT-enable hardware devices, sensors are increasingly in demand. This trend is fueled by the need for real-time data and analytics in various industries and the growing adoption of IoT technology across them. The steady expansion of the hardware segment is attributed to the increasing adoption of IoT technology and the rising demand for IoT-enabled hardware devices.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global Narrowband-Internet of Things (NB-IoT) market is experiencing significant growth, driven by increasing demand for efficient, low-power connectivity solutions. With applications spanning smart cities and industrial IoT, NB-IoT is expected to expand as telecom operators invest in infrastructure. Concurrently, the global Telecom Equipment market is booming, fueled by advancements in 5G technology and rising data consumption. The broader IoT market, encompassing various sectors, continues its upward trajectory, driven by innovations in connectivity and automation across industries. This growth reflects the accelerating integration of IoT technologies in everyday life.

Research Analysis

The Cellular IoT market is experiencing rapid growth due to the increasing demand for real-time monitoring and data-driven decisions in various industries. Narrowband IoT (NB-IoT) and LTE-M are leading LPWAN technologies that offer energy-efficient connectivity for IoT devices, enabling widespread implementation in smart city infrastructure, building automation, agricultural automation, environmental monitoring, and medical wearables. Real-time communication is essential for vehicle telematics, fleet management, and connected cars, driving the adoption of LTE networks and Vehicle-to-everything (V2X) technologies, including Vehicle-to-vehicle (V2V), Vehicle-to-infrastructure (V2I), and Vehicle-to-pedestrian (V2P). Chipsets and wearables are key components of the IoT ecosystem, powering the development of connected healthcare devices and consumer electronics. 5G is expected to further revolutionize the market with its ultra-low latency and high-speed capabilities.

Market Research Overview

The Cellular IoT market is experiencing significant growth as more industries adopt IoT technology for various applications. Smart city infrastructure, building automation, agricultural automation, and environmental monitoring are key areas where Cellular IoT is making an impact. The use of chipsets, wearables, and connected healthcare devices in medical applications is also increasing. Telematics solutions for vehicle fleet management, off-highway vehicles like cranes and excavators, and industrial automation are also driving market growth. NB-IoT and LTE-M, along with other LPWAN technologies, offer energy-efficient connectivity for low-power sensors and devices. Real-time monitoring and data-driven decisions are becoming essential in industries like logistics and agriculture. However, challenges such as cyberattacks, battery drain attacks, regulatory compliance, data protection, network coverage, and connectivity issues persist. The adoption of 5G, with its lower latency and faster data rates, is expected to address some of these challenges and enable new applications like autonomous vehicles, augmented reality (AR), and virtual reality (VR) in the future. Urban infrastructure management, including smart street lighting, parking management, and waste management, is another area where Cellular IoT is making a difference. Smart grids, connected cars, and smart metering are also important applications. Despite these advancements, concerns around data integrity, battery life, security issues, and spectrum usage remain. Government regulations and programs, such as Industry 4.0 and smart city projects, are driving the adoption of Cellular IoT and shaping its future.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentHardwareSoftwareType3G2G4GOthersGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Ceva Wi-Fi 6 and Bluetooth IPs Power Bestechnic’s New Combo Products

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Bestechnic integrates market leading Ceva-Waves Wi-Fi 6 IP together with Ceva-Waves Bluetooth Dual Mode IP in low power silicon products targeting smart wearables, smart home and smart audio applications

LAS VEGAS, Jan. 6, 2025 /PRNewswire/ — Ceva, Inc. (NASDAQ: CEVA), the leading licensor of silicon and software IP that enables Smart Edge devices to connect, sense and infer data more reliably and efficiently, today announced that Bestechnic, a global leader in the design and development of wireless ultra-low power computing SoCs for the advanced smart audio, smart wearables, wireless connectivity and smart home markets, has extended its long-term partnership with Ceva to integrate Ceva-Waves Wi-Fi 6  and Bluetooth dual-mode IP platforms in new Bluetooth/Wi-Fi combo products, including the BES2610 and BES2800 families. Bestechnic has shipped more than 1 billion smart audio SoCs powered by Ceva’s Bluetooth Dual Mode IP to date, and is one of the world’s leading suppliers of smart audio SoCs for TWS earbuds, headsets, smart glasses, smartwatches and smart speakers.

ABI Research forecasts that Wi-Fi 6 shipments will approach 2.7 billion units annually by 2027. This growth is fueled by the adoption of Wi-Fi 6 in various devices, including smart audio products like TWS earbuds, smart speakers, and other wearables. Wi-Fi 6 is designed to provide high efficiency and performance while significantly reducing power consumption compared to previous generations of Wi-Fi. This makes it ideal for battery-powered IoT devices such as wearables and speakers where it complements Bluetooth audio functionality, offering high throughput and low latency which is critical for high-definition audio streaming and increasingly required for real-time data processing associated with embedded AI.

Bestechnic has deployed the Ceva-Waves Wi-Fi 6 IP alongside the Ceva-Waves Bluetooth Dual Mode IP in its recently introduced combo families of ultra-low power Bluetooth/Wi-Fi chips. The platforms incorporate a dual-mode Bluetooth 5.4 subsystem for both Bluetooth classic and LE audio, and a Wi-Fi 6 subsystem for high-throughput wireless connectivity and lossless audio. The highly integrated solution with BES optimized ultra-low power system, is designed to provide Bluetooth level power consumption for a Wi-Fi enabled device. For example, the current of 2.4GHz Wi-Fi RX is as low as 14mA, making it ideal for battery powered wearable devices.

“Our long-standing partnership with Ceva has been instrumental in our success, and we are excited to incorporate their Wi-Fi 6 IP into our newest combo device families,” said Zhao Guoguang, General Manager, Bestechnic. “This collaboration allows us to offer our customers cutting-edge wireless connectivity solutions that exceed the demands for high-definition audio streaming and other ultra-low power wearable applications such as smartwatches and smart glasses.”

“Bestechnic’s integration of our Wi-Fi 6 and Bluetooth Dual Mode IP in their combo devices showcases the exceptional value of our comprehensive wireless connectivity portfolio in addressing emerging trends and applications,” said Tal Shalev, Vice President and General Manager, Wireless IoT Business Unit at Ceva. “Embedded AI is rapidly making its way into every device around us, and seamless connectivity is the foundation of these devices. With Wi-Fi 6 providing robust data transmission that complements Bluetooth for streaming audio applications, our ability to deliver unmatched performance and power efficiency with our wireless connectivity IPs empowers Bestechnic to set a new benchmark for smart audio devices.”

About Ceva-Waves Wi-Fi
The Ceva-Waves Wi-Fi IP family offers a comprehensive Suite of IPs and platforms for embedding Wi-Fi connectivity into SoCs/ASSPs optimized implementations are available for various applications, from low power IoT peripherals right up to high performance, multi-user gateways and spanning all flavours of 802.11a/b/n/ac/be. Each Ceva-Waves Wi-Fi solution incorporates hardwired PHY modem functions and MAC functions, including a Full MAC software protocol stack. A fully hosted stack is also proposed, comprising the integration of FullMAC stack in FreeRTOS along with TCP/IP, supplicant and a reference IoT application. For more information, visit https://www.ceva-ip.com/product/rivierawaves-wi-fi-platforms/.  

About Bestechnic
Founded in 2015, Bestechnic specializes in the development of wireless ultra-low power computing SoCs for the advanced smart audio, smart wearables, wireless connectivity and smart home markets. Our engineering teams are dedicated to R&D work in a wide range of areas, including RF and analog, wireless communication, acoustic and audio signal processing, image and vision signal processing, NPU, ultra-low power computing SoC, as well as complete software stack and complex operating system. As a leading technology and SoC supplier, our products have been adopted by leading brands worldwide. Visit our website at https://www.bestechnic.com/.

About Ceva, Inc.
At Ceva, we are passionate about bringing new levels of innovation to the smart edge. Our wireless communications, sensing and Edge AI technologies are at the heart of some of today’s most advanced smart edge products. From wireless connectivity IPs (Bluetooth, Wi-Fi, UWB and 5G platform IP), to scalable Edge AI NPU IPs and sensor fusion solutions, we have the broadest portfolio of IP to connect, sense and infer data more reliably and efficiently. We deliver differentiated solutions that combine outstanding performance at ultra-low power within a very small silicon footprint. Our goal is simple – to deliver the silicon and software IP to enable a smarter, safer, and more interconnected world. This philosophy is in practice today, with Ceva powering more than 18 billion of the world’s most innovative smart edge products from AI-infused smartwatches, IoT devices and wearables to autonomous vehicles and 5G mobile networks.

Our headquarters are in Rockville, Maryland with a global customer base supported by operations worldwide. Our employees are among the leading experts in their areas of specialty, consistently solving the most complex design challenges, enabling our customers to bring innovative smart edge products to market.

Ceva: Powering the Smart Edge™

Visit us at www.ceva-ip.com and follow us on LinkedIn, X, YouTube, Facebook, and Instagram.

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Addtronics Announces Appointment of Adam Meyers to Board

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GREENWICH, Conn., Jan. 6, 2025 /PRNewswire/ — Addtronics, LLC (“Addtronics”), a consolidator of high-quality, niche automation technology and solution providers innovating for the life sciences and other industries, announced today the appointment of Adam Meyers to its Board of Directors.

Mr. Meyers brings more than three decades of experience managing and growing small and medium-sized medical technology businesses. Mr. Meyers had a twenty-six-year career at Halma, PLC (“Halma”), a FTSE 100 company and leading serial-acquirer of niche companies in the healthcare, environmental, and safety industries.

Mr. Meyers was the Sector CEO of Halma’s Medical and Environmental Divisions where he delivered consistently strong organic growth, was responsible for over 20 acquisitions, and was a member of both the Executive Board and Board of Directors. Prior to this, he held various other leadership roles at Halma and other organizations. Mr. Meyers received his MBA from Harvard and his undergraduate degree in systems engineering from the University of Pennsylvania.

On his appointment, Mr. Meyers said, “I am very attracted to Addtronics’ approach of assembling niche automation technology businesses in a decentralized and entrepreneurial operating model. I am extremely excited to join the Board and to work with Max Katzenstein, the investor group, and the executive team to help build lasting value through Addtronics’ model of acquiring, investing in and growing these businesses”.

Max Katzenstein, Executive Chairman of Addtronics, commented, “Adam is a both a highly experienced leader of niche medical technology companies as well as someone who had a front-row seat building one of the most successful serial-acquirers in history. We are extremely excited to welcome Adam to our Board of Directors and are confident he will help us achieve our mission and vision.”

Addtronics is actively searching for additional businesses to add to its family of automation solution providers. Ideal candidates will be excited about joining a mission-driven organization that values the entrepreneurial spirit of each of its operating companies and is inspired to pursue further growth and value-creation strategies.

About Addtronics: 
Addtronics is a consolidator of high-quality, niche automation technology and solution providers innovating for the life sciences and other industries. Addtronics seeks to be the acquirer of choice in this space by allowing its operating companies to retain their entrepreneurial spirit while enjoying the benefits of scale and partnership with other Addtronics companies. For more information on Addtronics, please visit www.addtronics.com.

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ZINFI Continues to Thrive as a “Leader” in G2’s Winter 2025 Grid Report for Partner Management Software

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Among the four companies earning a slot in the leader’s quadrant, ZINFI’s overall Satisfaction Score is 28 points higher than its nearest competitor

PLEASANTON, Calif., Jan. 6, 2025 /PRNewswire/ — ZINFI Technologies, Inc., a company leading the definition and creation of Unified Partner Management (UPM) solutions, today announced that G2.com, Inc., the largest software marketplace, has once again named the company as a “Leader” in its Winter 2025 G2 Grid® Report for Partner Management Software. ZINFI has held its position in G2’s leaders’ quadrant for multiple consecutive quarters dating back to 2019, and is one of only four providers to earn the leadership designation in the current report. Among the four companies currently in the leader’s quadrant, ZINFI holds the top G2 Satisfaction Score (98), 28 points ahead of its nearest competitor. ZINFI is also identified as “Best for Mid-Market” in G2’s current summary of “Best Partner Relationship Management (PRM) Software.”

G2 strives to be the world’s most trusted and influential marketplace for software buyers, sellers, and service providers. The G2 Grid represents the democratic voice of real software users, rather than the subjective opinion of one analyst. G2 rates products from the Partner Relationship Management (PRM) category algorithmically based on data sourced from product reviews shared by G2 users and data sourced from third parties. In addition to G2’s rigorous review moderation process, that trust is earned by applying a consistent set of guidelines, methodologies, and definitions to give buyers the best view of a particular B2B software market.

G2’s Satisfaction Score for Partner Management Software is derived from user-focused metrics (Ease of Use, Meets Requirements, Quality of Support), admin-focused metrics (Ease of Admin, Ease of Setup, Ease of Doing Business With) and general satisfaction scores (Likelihood to Recommend, Direction of Product). Based on 480 reviews from actual users, ZINFI earned scores of 94% or higher on each of these eight metrics, including a score of 98% on Likelihood to Recommend and scores of 97% on four additional metrics.

“ZINFI is all about empowering our customers as they look for new and better ways to connect, collaborate, communicate, co-market and co-sell with their partners,” said Sugata Sanyal, founder & CEO of ZINFI. “We have always had a long-term, customer-focused approach to doing business, and we will continue to diligently monitor and learn from user feedback as we expand and improve our software to adapt to an evolving market and a constantly changing business environment. Nearly 500 of our customers have weighed in on G2 so far, and we are thrilled to learn that they continue to express overwhelming levels of satisfaction on key metrics like our platform’s usability, our responsiveness to their product and support requirements, and the ease with which they can perform important tasks like admin and setup.” 

The complete Winter 2025 G2 Grid® Report for Partner Management Software can be downloaded here:

ZINFI offers its potential customers a 30-day free trial (no credit card required) providing access to its entire Unified Partner Marketing (UPM) automation platform. This will allow any prospective buyers to test-drive its industry-leading channel management applications before making a purchase decision.

About ZINFI Technologies

ZINFI Technologies, Inc. a company leading the definition and creation of Unified Partner Management (UPM) innovation, enables vendors and their channel partners to achieve profitable growth predictably and rapidly on a worldwide level. Headquartered in Silicon Valley, USA and founded by channel veterans with extensive global channel management experience, we at ZINFI see an immense opportunity to build high-performing sales channels by deploying an easy-to-use, comprehensive and innovative state-of-the-art SaaS Unified Partner Management automation platform that streamlines and manages the entire partner lifecycle. ZINFI provides six core SaaS solution sets: “Onboard, Enable, Market, Sell, Incentivize and Accelerate” with tools and applications that span management of partner relationships, marketing, and incentives with additional tools for affiliate management. These solutions enable channel organizations to integrate all partner ecosystem management activities. In 26 countries, these core UPM SaaS solutions are also locally supported by ZINFI’s global marketing services team members.

To access more information about ZINFI’s Unified Partner Management platform or to download a copy of ZINFI’s best practices guide on partner relationship management, please visit our website at https://www.zinfi.com/. You can also follow ZINFI Technologies on LinkedIn and the ZINFI Channel Marketing Best Practices blog.

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SOURCE ZINFI Technologies, Inc.

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