Global LTE IoT Market is Anticipated to Value Over USD 3 Billion

  • 25 Jul 2019

Global LTE IoT Market is anticipated to value over USD 3 billion by 2026 end and grow at a CAGR of over 28% during the forecast period 2019 to 2026.
LTE IoT is a new age technology which is predicted to gain vast growth in the coming years. It helps in storage of data. LTE-IoT market by technology is segmented into NB-IoT and LTE-M. NB-IoT amends the spectrum and provides better network reliability. LTE-M aims at providing extended coverage, less modem cost and improved support security. 

Rapid demand for managed services has boosted the growth of the market. Managed services perform various functions as security operations and infrastructure management. It provides cost-effective machine-to-machine solutions. A rise in smart city projects is also fueling the growth of the market. The rise in NB-IoT application in the automotive sector had a positive influence on the market. 

However, the licensing costs of LTE IoT are expensive which will diminish the growth of the market. Also, difficulties in installation may restrain the growth of the market. 

Europe holds the majority of the share of the market, as it vastly utilizes IoT technology. It is home to some prominent players of the market. With government favouring new technology innovations, the market has witnessed escalated growth. Furthermore, the European Union is supporting technological advancements related to IoT. North America comes after Europe as US has witnessed increased adoption of cloud services and IoT. Favourable government policies for smart city project in India and China have led to more opportunistic space in the coming years in Asia and Pacific region. 

Some major players include Orange, Deutsche Telekom, Vodafone, Sierra Wireless, T-Mobile, Athonet, Telensa, Orange, Telstra and PureSoftware.

LTE IoT Market Restraints: 
•    Expensive licensing cost
•    Problems during installation 

LTE IoT Market Segmentation:
By Technology:

•    NB-IoT
•    LTE-M

By Service:
•    Managed Services
•    Professional Services

By Industry:
•    Transportation and Logistics
•    Manufacturing
•    Energy and Utilities
•    Agriculture
•    Healthcare

By Region
•    Europe
•    North America
•    Asia-Pacific
•    Latin America
•    Rest of World

Competitive Landscape:
•    Tier 1 players- established companies in the market with a major market share
•    Tier 2 players
•    Emerging players which are growing rapidly
•    New Entrants

Futurewise Key Takeaways
•    Growth Prospects
•    SWOT Analysis
•    Key Trends
•    Key data-points affecting market growth

Objectives of the Study:
•   To provide with an exhaustive analysis on the global LTE IoT market by technology, service, industry, and region
•   To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints
•   To evaluate and forecast micro-markets and the overall market
•   To predict the market size, in five key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East and   Africa
•   To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
•   Profiling of companies to evaluate their market shares, strategies, financials and
core competencies


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