$2.8 Billion LTE IoT Market, 2023 - The Rise in Demand of Secured Connectivity for IoT Applications Presents Lucrative Opportunities - ResearchAndMarkets.com
The growth of connected devices and the need for unique and defined network qualities are the major growth factors for the LTE IoT market.
The "LTE
IoT Market by Technology (NB-IoT and LTE-M), Service (Professional
Services and Managed Services), Industry (Manufacturing, Energy and
Utilities, Transportation and Logistics, Healthcare, and Agriculture),
and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's
offering.
The Long-Term Evolution (LTE) Internet of Things (IoT) market size is
expected to grow from USD 800 million in 2018 to USD 2,800 million by
2023, at a Compound Annual Growth Rate (CAGR) of 28.4% during the
forecast period.
The growth of connected devices and the need for unique and defined
network qualities are the major growth factors for the LTE IoT market.
However, operational downtime due to network infrastructure deployment
could restrain market growth.
Major vendors in the LTE IoT market include Ericsson (Sweden), Vodafone
(UK), Telstra (Australia), Sierra Wireless (Canada), PureSoftware
(India), Sequans Communications (France), Orange (France), T-Mobile
(US), Telus (US), MediaTek (Sweden), Athonet (Italy), NetNumber (US),
Telensa (UK), Actility (France), and Link Labs (US).
Managed services segment to grow at a higher CAGR during the
forecast period
Managed service providers operating in this market deliver their
expertise in managing various operating activities (including
infrastructure management, security operations, and cloud operations) to
clients, enabling them to launch various Machine-to-Machine (M2M)
offerings rapidly, at a variable cost.
With global coverage, the managed service provider offers customers
comprehensive and cost-effective solutions. These managed service
providers leverage partnerships with prime satellite and mobile networks
to offer high-end managed services to application providers, system
integrators, and end-user clients.
Europe to hold the largest market size and APAC to grow at
the highest CAGR during the forecast period
Europe is leading the LTE IoT market due to the widespread adoption of
the LTE technology for enterprises' IoT applications. The region is
leading in terms of LTE IoT coverage area. Huawei and Vodafone opened an
open lab in Newbury, UK, for R&D of LTE IoT technologies and
applications. The stage has been set for the widespread deployment of
LTE IoT by cellular operators in the UK and rest of Europe. Various
pre-commercial trials and plots have been deployed by Mobile Network
Operators (MNOs) across Europe.
APAC has witnessed advanced and dynamic adoption of new technologies and
has always been a lucrative market for telecom service providers. APAC
is expected to grow at the highest CAGR during the forecast period in
the LTE IoT market.
APAC includes countries such as Australia, New Zealand, Japan, and
Singapore, who act as the early adopters of smart technology. In
addition, these countries possess developed technological
infrastructure, which promotes increasing adoption of telecom services
and applications in this region.
Topics Covered
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency Considered
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Market Breakup and Data Triangulation
2.3 Market Forecast
2.4 Market Size Estimation
2.5 Assumptions for the Study
2.6 Limitations of the Study
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the LTE IoT Market
4.2 Market Top 3 Industries and Regions
4.3 Market By Region
4.4 Market Investment Scenario
5 Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Growth in the Number of Connected Devices
5.1.1.2 Need for Unique and Defined Network Qualities
5.1.1.3 Rise in Need for Long-Range Connectivity Between IoT Applications
5.1.2 Restraints
5.1.2.1 Operational Downtime Due to Upgradation of Network Infrastructure
5.1.3 Opportunities
5.1.3.1 Rise in Demand of Secured Connectivity for IoT Applications
5.1.4 Challenges
5.1.4.1 Additional Requirements for Deployment of LTE IoT Technology
5.1.4.2 High Initial Cost of Deployment
6 LTE IoT Market, By Technology
6.1 Introduction
6.2 LTE-M
6.3 NB-IoT
7 LTE IoT Market, By Service
7.1 Introduction
7.2 Professional Services
7.3 Managed Services
8 LTE IoT Market, By Industry
8.1 Introduction
8.2 Manufacturing
8.3 Energy and Utilities
8.4 Transportation and Logistics
8.5 Healthcare
8.6 Agriculture
9 LTE IoT Market, By Region
9.1 Introduction
9.2 North America
9.3 Europe
9.4 Asia Pacific
9.5 Middle East and Africa
9.6 Latin America
10 Competitive Landscape
10.1 Overview
10.2 Market Ranking
10.3 Competitive Scenario
11 Company Profiles
11.1 Ericsson
11.2 Vodafone Group
11.3 Telstra
11.4 Sierra Wireless
11.5 Puresoftware
11.6 Sequans Communications
11.7 Orange
11.8 T Mobile
11.9 Telus
11.10 Mediatek
11.11 Athonet
11.12 Netnumber
11.13 Telensa
11.14 Actility
11.15 Link Labs
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