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 Scope
Cellular iot market segmentation & scope
End Use
Agriculture
Automotive & Transportation
Consumer Electronics
Energy
Environment Monitoring
Healthcare
Retail
Smart Cities
Others
Technology
2G
3G
4G
5G
Countries
U.S.
Canada
Mexico
UK
Germany
France
Italy
Spain
Japan
China
India
South Korea
Brazil
Saudi Arabia
South Africa
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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