LTE IoT Market Size to Grow by USD 12085.2 billion, Growth in Industrial Automation to Boost Market Growth -Technavio – QNT Press Release


NEW YORK , Sept. 26, 2022 /PRNewswire/ — The “LTE IoT Market by Technology (NB-IoT and LTE-M) and Geography (Europe, North AmericaAPAC, Middle East and Africaand South America) – Forecast and Analysis 2022-2026″ report has been added to Technavio’s offering. The potential growth difference for the LTE IOT market size between 2021 and 2026 is USD 12085.2 billion. To get the exact CAGR and the YOY growth rate, Request a FREE PDF Sample Report

Key Market Dynamics

  • Market Driver: Growth in industrial automation is driving the growth of the market. The networking of automation devices is progressing globally. A global remote maintenance solution based on LTE can provide the optimal solution to machine manufacturers and plant operators. Reliable and scalable wireless communication mechanisms are important, with the increase in real-time analytics and automation in manufacturing . Several applications need to be wireless, such as smart connected tools, next-generation automated guided vehicles (AGVs), smart personal protective equipment (PPE), and wearable sensors. These applications can be connected seamlessly with the help of LTE. Therefore, The demand for LTE is expected to grow at a rapid pace during the forecast period, with the trend of industrial automation.
  • Market Challenge: Connectivity issues and lack of infrastructure are challenging the growth of the market. IoT devices require high-speed and reliable Internet connectivity. However, several other countries lack the required infrastructure. Thus, low Internet speed, along with latency and poor infrastructure, will negatively impact the adoption of LTE IoT devices, which will hamper the growth of the global LTE IoT devices during the forecast period.

Technavio has identified key trends, drivers, and challenges in the market, which will help vendors improve their strategies to stay ahead of their competitors. View our FREE PDF Sample Report

Market Segmentation

The LTE IOT market report is segmented by technology (NB-IoT and LTE-M) and geography (Europe, North AmericaAPAC, Middle East and Africaand South America). Europe will be the leading region with 37% of the market’s growth during the forecast period. Germanythe UK, and France are the key countries for the LTE IOT market in the region.

View our FREE PDF Sample Report for additional insights into the contribution of all the segments and regional opportunities in the report.

Vendor Landscape

The LTE IoT market is fragmented due to the presence of global and regional players competing with each other. Vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market. Vendors should incorporate the latest technologies to remain competitive in the market and distinguish their products and services from other players. Vendors are investing heavily in R&D to meet the rising demands of consumers. They are deploying advanced LTE IoT devices to consolidate their position in the market. New players are also entering the market to expand their business operations.

Some Companies Mentioned

  • Accent Advanced Systems SLU
  • Actility SA
  • AT and T Inc.
  • Cisco Systems Inc.
  • Cradlepoint Inc.
  • Link Labs Inc.
  • MediaTek Inc.
  • NetNumber Inc.
  • Orange SA
  • PureSoftware Ltd.
  • Qualcomm Inc.
  • Sequans Communications SA
  • Sierra Wireless Inc.
  • Telefonaktiebolaget LM Ericsson
  • Telia Co. AB
  • Telstra Corp. Ltd.
  • TELUS Corp.
  • Thales Group
  • Verizon Communications Inc.
  • Vodafone Group Plc

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Related Reports

IoT Analytics Market by Component, End-user, and Geography – Forecast and Analysis 2022-2026: The LTE IoT market share is expected to increase by USD 12085.2 billion from 2021 to 2026.

Internet of Things (IoT) Market in Retail Applications Market by Technology and Geography – Forecast and Analysis 2022-2026: The internet of things (IoT) market share in retail applications is expected to increase by USD 44.80 billion from 2021 to 2026.

LTE IoT Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 24.09%

Market growth 2022-2026

USD 12085.2 billion

Market structure

Fragmented

YoY growth (%)

22.15

Regional analysis

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

Full story available on Benzinga.com



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