LTE IoT Market Research Report, Size , Growth, Trends, Opportunity Analysis, Industry Forecast - 2022-2026

The LTE IoT market share is expected to increase by USD 12085.2 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 24.09%.

This LTE IoT market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers LTE IoT market segmentation by technology (NB-IoT and LTE-M) and geography (Europe, North America, APAC, Middle East and Africa, and South America). The LTE IoT market report also offers information on several market vendors, including Accent Advanced Systems SLU, Actility SA, AT and T Inc., Cisco Systems Inc., Cradlepoint Inc., Link Labs Inc., MediaTek Inc., NetNumber Inc., Orange SA, PureSoftware Ltd., Qualcomm Inc., Sequans Communications SA, Sierra Wireless Inc., Telefonaktiebolaget LM Ericsson, Telia Co. AB, Telstra Corp. Ltd., TELUS Corp., Thales Group, Verizon Communications Inc., and Vodafone Group Plc among others.

What will the LTE IoT Market Size be During the Forecast Period?

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LTE IoT Market: Key Drivers, Trends, and Challenges

The growth in industrial automation is notably driving the LTE IoT market growth, although factors such as connectivity issues and lack of infrastructure may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the LTE IoT market industry. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.

Key LTE IoT Market Driver

Growth in industrial automation is one of the key drivers supporting the LTE IoT market growth. The combination of physical and digital systems has improved the human-machine interface (HMI) and enabled machine-to-machine (M2M) communication. Industry 4.0 defines the entire life cycle of products where the manufacturing processes by smart machines are carried out on their own, smart robots coordinate with humans to assemble products, and driverless transport vehicles have started to operate logistics on their own. Furthermore, as part of the industry 4.0 initiative, the global networking of automation devices is progressing. For machine manufacturers and plant operators who want to offer a global maintenance service for their products, a global remote maintenance solution based on LTE can provide the optimal solution. With the increase in real-time analytics and automation in manufacturing, it becomes increasingly important that the industry premise provides reliable and scalable wireless communication mechanisms. The integration of LTE in manufacturing will provide wireless communication, which can help in remote operations of machines. There are several applications on the factory floor that need to be wireless. These include next-generation automated guided vehicles (AGVs), smart connected tools, wearable sensors, and smart personal protective equipment (PPE). All these applications can be seamlessly connected with the help of LTE. Therefore, with the increasing industrial automation trend, the demand for LTE is expected to grow at a rapid pace during the forecast period.

Key LTE IoT Market Trend

Increasing the use of LTE IoT in the healthcare sector is one of the key LTE IoT market trends. The use of LTE IoT in the healthcare sector is on the rise, and the outbreak of COVID-19 in 2020 further increased the adoption of IoT technology. LTE IoT enables healthcare professionals to be more vigilant and connect with patients proactively. Data collected from IoT devices can help physicians identify the best treatment process for patients and reach the expected outcomes. LTE IoT-enabled devices allow remote healthcare monitoring, unlocking the potential for patient safety and wellness and empowering physicians to deliver superior care. It also improved patient engagement and satisfaction as interactions with doctors became easier and more efficient. In addition, remote monitoring of patient health can shorten hospital stays and prevent readmissions. IoT will also have a significant impact on reducing healthcare costs and improving patient outcomes. The proliferation of healthcare-specific IoT products opens up immense opportunities. And the huge amount of data generated by these connected devices hold the potential to transform the healthcare sector. Since the outbreak of COVID-19 in 2020, telehealth has been on the rise, and LTE networks are playing a significant role in this development. The adoption of the 5G network will accelerate the adoption of telehealth. With the emergence of new 5G technologies, healthcare-related IT services and applications will become more connected than ever, with a major impact on both healthcare providers and patients. 5G will open up a whole new frontier of telemedicine, a technology that allows patients to virtually connect and communicate with doctors and other healthcare providers via real-time video and live chat. The combination of the two advanced technologies, IoT and LTE, will bring a boom to the healthcare sector during the forecast period. Therefore, all these factors will increase the demand for LTE IoT in the healthcare sector, which, in turn, will boost the growth of the market focus during the forecast period.

Key LTE IoT Market Challenge

Connectivity issues and lack of infrastructure are one of the factors hindering LTE IoT market growth. The Internet forms the backbone for IoT devices. Such devices require reliable and high-speed Internet connectivity to function effectively. Though developed nations such as the US, the UK, Germany, and Japan have state-of-the-art Internet infrastructure, several other countries lack the basics when it comes to connectivity and infrastructure. For instance, in India, the concept of free Wi-Fi has not really taken off yet, while most of the population is still using a 2G network. In addition, in suburban areas and highways, with poor network quality, mobile network operators still need to build solutions to offer 100% connectivity for IoT devices. The impact of this challenge affects consumers to the highest degree as they do not have high-speed Internet connectivity everywhere. Thus, low Internet speed, along with latency (time taken by the data packet to travel between devices on a network) and poor infrastructure, will affect the adoption of LTE IoT devices which will hinder the growth of the global LTE IoT devices during the forecast period.

This LTE IoT market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global LTE IoT market as a part of the global data processing and outsourced services market within the global IT services market.  Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the LTE IoT market during the forecast period.

Who are the Major LTE IoT Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• Accent Advanced Systems SLU
• Actility SA
• AT and T Inc.
• Cisco Systems Inc.
• Cradlepoint Inc.
• Link Labs Inc.
• MediaTek Inc.
• NetNumber Inc.
• Orange SA
• PureSoftware Ltd.
• Qualcomm Inc.
• Sequans Communications SA
• Sierra Wireless Inc.
• Telefonaktiebolaget LM Ericsson
• Telia Co. AB
• Telstra Corp. Ltd.
• TELUS Corp.
• Thales Group
• Verizon Communications Inc.
• Vodafone Group Plc

 

This statistical study of the LTE IoT market encompasses successful business strategies deployed by the key vendors. The LTE IoT market is fragmented and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Cisco Systems Inc. - The company offers help to enhance customers' WAN in branch and remote locations for a better user experience. 

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The LTE IoT market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

LTE IoT Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the LTE IoT market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for LTE IoT Market?

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37% of the market’s growth will originate from Europe during the forecast period. Germany, the UK, and France are the key markets for LTE IoT market in Europe. Market growth in this region will be faster than the growth of the market in other regions.

Reliance on cutting-edge technology to maintain its competitiveness and business efficiency will facilitate the LTE IoT market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic negatively affected the market in various countries such as Germany, the UK, and France in 2020. Many industries were compelled to shut down their production units due to the pandemic. However, COVID-19 had a positive impact on the LTE IoT market in Europe. There has been a huge demand for LTE IoT technology in the healthcare industry. IoT technology has helped to track the spread of COVID-19 and control the spread in real-time. In April 2020, the German public health authority launched a smartwatch app, known as Corona-Datenspende, in partnership with Thryve, a health tech start-up, to help monitor the spread of COVID-19 and analyze whether measures to contain COVID-19 are working. The app gathers the vital signs of volunteers wearing the smartwatch and analyzes whether they have flu-like symptoms. The results are further represented in an interactive online map for the review of health authorities. Therefore, the launch of such products, which use IoT technology, may positively impact market growth in the region during the forecast period. 

What are the Revenue-generating Technology Segments in the LTE IoT Market?

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The LTE IoT market share growth by the NB-IoT segments will be significant during the forecast period. NB-IoT significantly improves user device power consumption, system capacity, and spectral efficiency, especially in deep coverage. NB-IoT can efficiently connect large fleets of up to 50,000 devices per NB-IoT network cell while minimizing power consumption and reaching locations where traditional cellular technology is unserved. NB-IoT is applicable in various scenarios and industries. NB-IoT has applications in smart meter reading, agriculture, logistics, smart city solutions, and more. It is the perfect solution for underground modules as it can transmit large amounts of data, especially in inaccessible areas. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the LTE IoT market size and actionable market insights on the post-COVID-19 impact on each segment.

 

LTE IoT Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 24.09%
Market growth 2022-2026	$ 12085.2 billion
Market structure	Fragmented
YoY growth (%)	22.15
Regional analysis	Europe, North America, APAC, Middle East and Africa, and South America
Performing market contribution	Europe at 37%
Key consumer countries	US, China, Germany, UK, and France
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Accent Advanced Systems SLU, Actility SA, AT and T Inc., Cisco Systems Inc., Cradlepoint Inc., Link Labs Inc., MediaTek Inc., NetNumber Inc., Orange SA, PureSoftware Ltd., Qualcomm Inc., Sequans Communications SA, Sierra Wireless Inc., Telefonaktiebolaget LM Ericsson, Telia Co. AB, Telstra Corp. Ltd., TELUS Corp., Thales Group, Verizon Communications Inc., and Vodafone Group Plc
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this LTE IoT Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive LTE IoT market growth during the next five years
• Precise estimation of the LTE IoT market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the LTE IoT industry across Europe, North America, APAC, Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of LTE IoT market vendors

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