Mobile Experts releases a complete look at the Cellular IoT market through 2029.
Over the past four years, Mobile Experts has investigated eight individual vertical markets for Cellular IoT and they have now released a new report offering a complete picture of the market over the next ten years.
“In the past, mobile operators would re-use the mobile phone network for machine-to-machine connections,” commented Principal Analyst Joe Madden.
“But now, we see some operators investing in dedicated networks for IoT, and the growth rate for the IoT market is much steeper than the old M2M market. Cost is coming down quickly, with simplified, optimized products coming into the market. New technologies use less power and offer longer battery life, so new applications are coming into the realm of possibility. Plus, as the Chinese government subsidizes NB-IoT heavily, major growth is starting in China.”
In this latest report, Mobile Experts has taken a long view of IoT, extending the forecast period through the next ten years. The vital, vertical markets are operating on a longer time scale than rapid-fire mobile markets, so Mobile Experts illustrates how the long product life cycles of automotive, industrial, utility, and similar markets will shift through 2029.
Principal Analyst Joe Madden, commented:
“The hype surrounding 5G IoT devices isn’t really justified in the near term. Premium low-latency, high reliability applications will become more significant after 2023, but the market needs about five years to ‘incubate’ before real URLLC growth can begin.”
“The big story in this report is that LTE-M and NB-IoT will expand to more than 1 billion units per year over time, creating a new large, sustainable market for modules and chipsets.”