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Cellular IoT Market Share

Report ID: GMI9041
Published Date: Apr 2024
Report Format: PDF

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Cellular IoT Market Share

Verizon and China Mobile held a significant share of over 11.5% in the cellular IoT industry. With its cutting-edge technology and wide coverage, Verizon, a well-known US telecom, is appealing to IoT deployments. With an extensive IoT infrastructure and a large subscriber base, China Mobile leads the Chinese market. Both companies play a key role in determining the global cellular IoT landscape by providing a range of connected device solutions and spearheading industry innovation.

Major players, such as AT&T, Verizon, China Mobile, Vodafone, are constantly implementing strategic measures, such as geographical expansion, acquisitions, mergers, collaborations, partnerships, and product or service launches, to gain market share.

Cellular IoT Market Companies

Major companies operating in the cellular IoT industry are:

America Movil
AT&T
China Mobile
China Telecom
CommSolid GmbH
Deutsche Telekom
Fibocom
Gemalto N.V.
MediaTek Inc.
Orange
Qualcomm Technologies Inc.
Quectel
SEQUANS
Sierra Wireless
Sigfox
Sunsea AIoT
Telefónica
Telit
Telit Cinterion
Texas Instruments Incorporated
Thales Group
U-Blox Holding AG
Verizon
Vodafone
ZTE Corporation

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

The market size of cellular IoT reached USD 6.2 billion in 2023 and will exhibit more than 26% CAGR from 2024 to 2032, fueled by the increasing adoption of connected devices across various industries, along with the need for real-time data monitoring and analysis in smart cities and industrial automation.

The services segment will register 25% CAGR from 2024 to 2032, attributed to matured IoT ecosystem, the demand for managed services, the need for customized solutions and ongoing support.

North America market secured 35% revenue share in 2023, due to the regions early adoption and deployment of advanced technologies along with the presence of leading IoT solution providers and tech giants.

Some of the leading industry players include America Movil, AT&T, China Mobile, China Telecom, CommSolid GmbH, Deutsche Telekom, Fibocom, Gemalto N.V., MediaTek Inc., Orange, Qualcomm Technologies Inc., Quectel, SEQUANS, Sierra Wireless, Sigfox, and Sunsea AIoT.