Cellular IoT Industry Europe and Regional Market Growth, Analysis

Europe (CEE) cellular IoT connections will reach 36.72 million in 2022, reflecting a five-year compound annual growth rate (CAGR) of 18.8%. The related IoT connectivity services spending is forecast to reach $259 million in 2022, growing at a CAGR of 14.3% between 2017 and 2022. As such, cellular IoT represents the fastest growing opportunity for telecom providers in CEE, topping even forecast revenue growth for IPTV.

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The North American region is expected to lead the market in terms of revenue as solution vendors and component manufacturers are aggressively pursuing IoT implementation projects. Some crucial factors in the region’s growth are the rapidly changing technology landscape and ability of industries to adopt smart and connected products at their inception. The region is anticipated to grow at a CAGR of 18.8% and reach USD 3.28 billion by 2025.

The country is now one of the top three cellular IoT markets in the CEE. The numbers of cellular IoT connections in the country first rose in late 2017, when all cash registers were mandated to have online connections to the National Revenue Agency. As a result, cellular IoT volume growth grew by almost 58% between 2017 and 2022.

Because of machine-to-machine communication and machine-to-person communication, humongous amount of data will be generated. For the proper functioning of IoT network, there is a need of data storage, data interpretation, and data transfer in real time at minimal cost and cellular networks are fulfilling this particular need of the market. Cellular technologies such as GSM, WCDMA, LTE, and future 5G have evolved with new functionality and new radio access technology narrowband IoT tailored to from an attractive solution for emerging low power wide area (LPWA) applications.

Major companies are as follows:
Qualcomm Incorporated
Sierra Wireless
Gemalto NV
Telit Communications PLC
UBlox Holding AG
Texas Instruments
ZTE Corporation
Sequans Communication
Mistbase Communication System
Mediatek Inc.
Major classifications are as follows:
Hardware
Software
Major applications are as follows:
2G
3G
4G

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