Global IoT LTE Market (2021


Dublin, December 24, 2021 (GLOBE NEWSWIRE) – The report “LTE IoT Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” has been added to ResearchAndMarkets.com offer.

The LTE IoT market is expected to register a healthy CAGR of over 28% during the forecast period (2021 – 2026). The growth of connected devices and the need for unique and defined network qualities are fueling the growth of the LTE IoT market.

Highlights

  • The Managed Service Provider provides customers with comprehensive and cost-effective solutions, providing them with their expertise in managing various operational activities (including infrastructure management, security operations and cloud operations), enabling them launch various Machine-to-Machine (M2M) offers. .

  • Due to the delicate nature of manufacturing operations, manufacturers are adopting IoT solutions, sensors, and IoT wireless connectivity platforms to increase their productivity, thereby transforming their operations into smart manufacturing.

  • Many software and solution providers provide industries with smart manufacturing applications that include proactive and automatic analysis capabilities, making industrial manufacturing a smart, self-managing environment. LTE technology is used to establish stable connectivity between various devices in a data transmission factory, to enable industries to solve problems related to predictive maintenance and autonomous production.

  • However, the market has observed some very region specific challenges. Companies demanding to deploy an IoT project in the United States must rely on the LTE-M network due to the predominant presence of LTE radios. Alternatively, the presence of LTE CAT M1 devices in Asia, Africa and Eastern Europe is due to the fact that mobile network operators still use 3G connectivity. However, NB-IoT devices can be found in abundance in Asia, especially China, due to the presence of low-cost device manufacturers.

  • The spread of COVID-19 has impacted many industries which are the primary markets for LTE IoT technology. For example, the construction industry is experiencing a slower growth rate due to COVID; many ongoing projects are blocked or canceled. This stops the subsequent installation of IoT devices, such as smart street lights, meters, and parking meters. In addition, the pandemic has also affected the consumer and retail market; smart devices, sales of smart devices also declined because of this. All of these devices actively use the NB-IoT chipset.

Key market trends

The industrial sector is expected to grow at a significant rate

  • The IoT is transforming the way organizations communicate and regulate their daily activities and industrial processes. Its widespread adoption across all industries has proven to be well suited to industries that need to manage large numbers of assets and coordinate complex and distributed operations.

  • Due to the complexity and diversity of industrial requirements, many types of communication systems are required. With new technologies in place, the current war is now referred to as a network-centric war, in which a robust network architecture improves information sharing, which in turn improves information quality and shared situational awareness. These extensive applications and market-type ease of service have helped it create demand specific to the market and end-user needs.

  • Flexibility, interoperability and longevity are key characteristics of network communications for LTE applications, which help create demand for end users, maintain close coordination within the team as well as between units. adjacent and superior operations in industries. With the advancement of LTE and the development of IoT, the future of the market is very bright for better situational awareness through voice, video and data delivered not only to emergency operations / to the dispatch of services, but also to first responders in the field.

  • The rapid automation and development of IoT devices for use in harsh and hazardous environment, such as oil rigs, submarine pipelines, offshore platforms, blast furnaces, etc., will boost demand for LTE IoT devices and sensors.

Europe has a significant market share

  • Europe is gaining presence in the IoT LTE market due to the widespread adoption of LTE technology for enterprise IoT applications. The well established presence of some of the major players in the region such as Telefonaktiebolaget LM Ericsson, Halberd Bastion Pty Ltd, u-blox AG among others is expected to further assist the regional market in the overall growth.

  • The region leads in terms of LTE IoT coverage area, with some of the development underway by key players in the region, fueling demand across the region. For example, Huawei and Vodafone have opened an open lab in Newbury, UK, for R&D of LTE IoT technologies and applications.

  • The European Commission and the Member States of the European Union are committed to developing strategies to support the experimentation and deployment of IoT and related telecommunications services. Various cellular operators are also poised to deploy IoT LTE on a large scale in the UK and the rest of Europe, where Germany, UK and France are the top 3 contributors to the mobile phone market. IoT LTE in Europe. In addition, several pre-commercial trials and plots have also been deployed by mobile network operators (MNOs) across Europe.

  • The dependence of the European country on the latest technologies in order to maintain its competitiveness and business efficiency are the main reasons for the rapid acceptance of IoT LTE in European industries. These devices find their many applications in sectors such as construction, logistics and fleet management, energy, manufacturing, etc. For example, the construction industry finds many applications for temperature, humidity, motion and light sensors.

  • Deutsche Telekom NarrowBand IoT has been broadcasting in Europe since 2019 and LTE-M was activated in 2020. Deutsche Telekom NarrowBand IoT roaming is available in 20 countries, including the United States, and has partnered with companies like Vodafone, Telia, Orange and Telenet (Belgium), Swisscom and Telecom Italia.

Companies mentioned

  • Qualcomm Technologies, Inc

  • Gemalto SA

  • u-blox AG

  • Telefonaktiebolaget LM Ericsson

  • Cisco Syatem Inc. (Jasper)

  • Cradlepoint Inc.

  • Sequans Communications SA

  • PureSoftware

  • TELUS Company

  • MediaTek Inc.

  • Verizon Communications

  • AT&T Inc.

For more information on this report visit https://www.researchandmarkets.com/r/7ct9vm

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