The growth of cellular IoT market
is expected to be driven by the rising demand for long-range connectivity. The
cellular IoT market based on end–use application was valued at USD 1.26 Billion
in 2015 and is estimated to reach USD 5.31 Billion by 2022, growing at a CAGR
of 23.34% during the forecast period. Rising demand for extended network
coverage, capacity to accommodate large number of connected devices and
increasing demand for end-to-security drives the growth of cellular IoT market.
North America is expected to hold the largest size of the cellular IoT market,
while Asia-Pacific market would grow at the highest rate during the forecast
period.
The companies involved in the
cellular IoT market adopted various strategies such as new product launches,
partnerships, agreements, and collaborations as the key growth strategy over
the last two years. Of all the strategies, 41.17% of the developments were new
product development; while 29.41% of the developments involved were
partnership, agreement, collaboration, joint ventures, mergers and acquisitions
collectively accounted for 26.47% and 2.95% of the other strategies.
In cellular IoT market, Qualcomm
Incorporated (U.S.) is among the major semiconductor manufacturer and a global
supplier. The recent acquisition of NXP Semiconductors in 2016 would help the
company broaden the customer base. Qualcomm Incorporated (U.S.) is among the
forerunners in the cellular IoT market. The company has designed LTE modems
(MDM9207-1 and MDM9206) to support reliable, optimized cellular connectivity
for a growing array of devices and systems within IoT. The company continues to
expand the capabilities of LTE to accelerate progress in IoT with these modems.
Qualcomm Incorporated (U.S.) is developing transformative technologies to
advance today’s global wireless standards for 4G LTE. The company is trying to
meet the expanded connectivity needs and extreme variations of this new era. It
has established ecosystem partners with proven global solutions, which helps
the company to deliver 3G and 4G LTE solutions for IoT. Delivering new NB-IoT
technologies to lower complexity, increase battery life, and deepen coverage
would help the company to establish the foundation for narrowband 5G. In
October 27, 2015, Qualcomm Incorporated (U.S.) announced the plan to release NB-IoT,
and with this more and more chip vendors would engage in the development of
NB-IoT.
https://www.marketsandmarkets.com/Market-Reports/cellular-iot-market-232497754.html
Another major player in cellular
IoT market is Sierra Wireless (Canada). The company is continuously investing
in developing cellular –IoT modules, the results of which can be observed as
Smart SIM and IoT acceleration platform. The company as a part of business
strategy is targeting major technology players for partnership to expand its
IoT business. For example, in 2015, Sierra Wireless (Canada) partnered with
L&T Technology Services (India), for the development of IoT applications.
The collaboration is still active and both the companies would deliver IoT
applications to customers in the automotive, transportation, and industrial
markets. The company is very active in acquisition activities to expand its IoT
product portfolio.
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