Global Cellular Iot Market Size & Outlook, 2023-2030
The global cellular iot market size was estimated at USD 6,118.3 million in 2023 and is projected to reach USD 31,689.8 million by 2030, growing at a CAGR of 26.5% from 2024 to 2030.
Revenue, 2023 (US$M)
$6,118.3
Forecast, 2030 (US$M)
$31,689.8
CAGR, 2024 - 2030
26.5%
Report Coverage
Worldwide
Global cellular iot market, 2018-2030 (US$M)
Global cellular iot market highlights
- An overview of the global cellular iot market trends heading towards 2030. The global market generated a revenue of USD 6,118.3 million in 2023 and is expected to reach USD 31,689.8 million by 2030.
- The overall growth of the global market from 2023 to 2030. The market is expected to grow at a CAGR (2024 - 2030) of 26.5% to attain a revenue of USD 31,689.8 million by 2030.
- A look at the global market revenues per segment in 2023. In terms of segment, hardware accounted for a revenue of USD 6,118.3 million in 2023.
- The segment witnessing the fastest revenue growth within the market. Hardware is the most lucrative component segment registering the fastest growth during the forecast period.
- An overview of global market per region and country. In terms of region, Europe was the largest revenue generating market in 2023.
Global data book summary
| Market revenue in 2023 | USD 6,118.3 million |
| Market revenue in 2030 | USD 31,689.8 million |
| Growth rate | 26.5% (CAGR from 2023 to 2030) |
| Largest segment | Hardware |
| Fastest growing segment | Hardware |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware |
Other key industry trends
- In terms of revenue, the North America accounted for 21.0% of the global cellular iot market in 2023.
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Cellular IoT Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Fibocom | View profile | 51-100 | Shenzhen, Guangdong, China, Asia | http://www.fibocom.com/ |
| AT&T, Inc. | View profile | - | - | - |
| Quectel | View profile | 1001-5000 | Shanghai, Shanghai, China, Asia | http://www.quectel.com/ |
| Tata Communications | View profile | 5001-10000 | Mumbai, Maharashtra, India, Asia | http://www.tatacommunications.com |
| Verizon Communications Inc | View profile | 105400 | 1095 Avenue of the Americas, New York, NY, United States, 10036 | https://www.verizon.com |
| Huawei Technologies | View profile | 10001+ | Shenzhen, Guangdong, China, Asia | http://huawei.com |
| Semtech Corp | View profile | 1917 | 200 Flynn Road, Camarillo, CA, United States, 93012-8790 | https://www.semtech.com |
| Telefonaktiebolaget L M Ericsson ADR | View profile | 99952 | Torshamnsgatan 21, Kista, Stockholm, Sweden, SE-164 83 | https://www.ericsson.com |
| Cisco Systems Inc | View profile | 84900 | 170 West Tasman Drive, San Jose, CA, United States, 95134-1706 | https://www.cisco.com |
| Microsoft Corp | View profile | 221000 | One Microsoft Way, Redmond, WA, United States, 98052-6399 | https://www.microsoft.com |
Global cellular iot market size, by regions, 2018-2030 (US$M)
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