Cellular Internet of Things (IoT) Market

By Component;

Hardware and Software

By Type;

2G, 3G, 4G, 5G, LTE–M, NB–LTE–M, and NB–IoT

By End-User;

Retail, Energy, Healthcare, Manufacturing, Consumer Electronics, Automotive & Transportation, and Others

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031)
Report ID: Rn904945341 Published Date: August, 2025

Cellular IoT Market Overview

Cellular IoT Market (USD Million)

Cellular IoT Market was valued at USD 7,870.85 million in the year 2024. The size of this market is expected to increase to USD 38,810.48 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 25.6%.


Cellular Internet of Things (IoT) Market

*Market size in USD million

CAGR 25.6 %


Study Period2025 - 2031
Base Year2024
CAGR (%)25.6 %
Market Size (2024)USD 7,870.85 Million
Market Size (2031)USD 38,810.48 Million
Market ConcentrationLow
Report Pages314
7,870.85
2024
38,810.48
2031

Major Players

  • CommSolid GmbH
  • Sequans Communications
  • ZTE Corporation
  • Telit Communications PLC
  • MediaTek Inc.
  • U-Blox Holding AG
  • Sierra Wireless
  • Gemalto N.V.
  • Texas Instruments Incorporated
  • Qualcomm Technologies Inc.

Market Concentration

Consolidated - Market dominated by 1 - 5 major players

Cellular Internet of Things (IoT) Market

Fragmented - Highly competitive market without dominant players


The Cellular IoT Market is evolving robustly, with over 54% of industries embracing NB‑IoT and LTE‑M dialing into sensors for asset tracking, metering, and monitoring. This transformation generates compelling opportunities for manufacturers and operators to deliver energy-efficient modules and scalable network services. Businesses are executing precise strategies to extend connectivity, support massive device counts, and reduce adoption barriers—fueling consistent growth and enabling broad expansion of IoT infrastructure.

Edge Innovation Transforming Device Intelligence
About 51% of device rollouts now include low-power AI, multi-band radios, and robust security features—showcasing major technological advancements. These innovations enable localized data processing, network resilience, and enhanced sensor autonomy. Vendors are investing in OTA updates, remote management platforms, and encrypted communications to support ongoing innovation and widen platform expansion.

Strategic Collaboration for Scalable Rollouts
More than 56% of Cellular IoT players engage in collaboration with telecom providers, cloud vendors, and vertical integrators to deliver plug-and-play connectivity solutions. These partnerships ensure streamlined onboarding, consistent SLA delivery, and solution customization. Through aligned frameworks, providers ensure a strong future outlook and speed time-to-market across key sectors.

Future Outlook Anchored in Intelligent Connectivity Architectures
Nearly 53% of organizations plan advanced IoT frameworks with dynamic spectrum switching, edge AI inference, and holistic lifecycle management. This solid future outlook emphasizes networks that adapt to evolving data patterns and device diversity. Investments in these systems drive innovation, reinforce system robustness, and enable broad expansion of next‑generation IoT deployments.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Component
    2. Market Snapshot, By Type
    3. Market Snapshot, By End-User
    4. Market Snapshot, By Region
  4. Cellular IoT Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Industrial automation

        2. Smart healthcare

        3. Energy management

        4. Environmental monitoring

      2. Restraints
        1. Network coverage limitations

        2. Connectivity costs

        3. Security concerns

        4. Data privacy regulations

      3. Opportunities
        1. Fleet management

        2. Edge computing

        3. Autonomous systems

        4. Real-time analytics

    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Cellular IoT Market, By Component, 2021 - 2031 (USD Million)
      1. Hardware
      2. Software
    2. Cellular IoT Market, By Type, 2021 - 2031 (USD Million)
      1. 2G
      2. 3G
      3. 4G
      4. 5G
      5. LTE–M
      6. NB–LTE–M
      7. NB–IoT
    3. Cellular IoT Market, By End-User, 2021 - 2031 (USD Million)
      1. Retail
      2. Energy
      3. Healthcare
      4. Manufacturing
      5. Consumer Electronics
      6. Automotive & Transportation
      7. Others
    4. Cellular IoT Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea ASEAN (Association of South East Asian Countries)
        6. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. CommSolid GmbH
      2. Sequans Communications
      3. ZTE Corporation
      4. Telit Communications PLC
      5. MediaTek Inc.
      6. U-Blox Holding AG
      7. Sierra Wireless
      8. Gemalto N.V.
      9. Texas Instruments Incorporated
      10. Qualcomm Technologies Inc.
  7. Analyst Views
  8. Future Outlook of the Market