CRI Report has released a report titled “LTE IoT Market – Analysis of Market Size, Share & Trends for 2014 – 2020 and Forecasts to 2030” which is anticipated to reach USD 5.23 billion by 2030. According to a study by CRI Report, the market is anticipated to portray a CAGR of 29.85% between 2020 and 2030. According to the report, in the efforts to maintain intense competition environments, many vertical industries are concentrating more aggressively on technological changes to improve ultimate productivity and operational efficiency. 5G wireless technology has the potential to support notable vertical transformations by reducing overall cost and increasing profitability. Further emphasis will continue on enhancing energy monitoring and management as well as better access to the network for energy production and distribution over the projected timeframe.
The market report on global LTE IoT Market includes in-depth insights as:
- The estimated value of the market was USD 1.56 billion in the year 2020.
- Global LTE IoT in APAC held the largest market share in the year 2020 in terms of revenue.
- Global LTE IoT is divided by service type into Professional Services
- Global LTE IoT market is segmented by End-user into Manufacturing, Healthcare, Energy and Utilities, Automotive and Transportation, Supply Chain and Logistics, Government and Public Safety, Agriculture, and Others.
- Key players are likely to focus on product innovations and expansion through mergers to retain their positions in developed markets.
- The Shared & Unlicensed Spectrum LTE/5G Network Ecosystem: 2021 – 2030 – Opportunities, Challenges, Strategies & Forecasts
“By incorporating protection into the network architecture, increased demand for manufacturing and acceptance of this technology would not only provide stable networks, but also fantastic safe connections for Industrial IoT. Other factors driving market growth include an increase in demand for processing data collected through sensors, analyzing, and real-time monitoring of business operations and other activities across a variety of industrial sectors. Additionally, providing backing operations that need real-time access to data changes instantly, as well as increased demand for ultra-low latency from a variety of industries, are some of the factors driving market growth”, according to this report
LTE IoT uses modern connectivity technology to connect billions of Internet-connected devices all around the world. 3G, 4G, 5G, and LPWA (Low Power Wide Area) cellular technologies including NB-IoT and LTE-M are among these sophisticated technologies. LTE IoT provides global coverage, dependable IoT device connectivity, and low-cost hardware for cellular IoT connections. Smart parking, smart cities, smart agriculture, industrial monitoring, smoke alarms, and other NB-IoT applications are just a few examples. LTE-M (LTE for Machine) is a sort of cellular IoT LPWA technology that uses a mobile operator’s 4G LTE communications infrastructure. It’s also known as Cat-M1 or eMTC (enhanced machine-type communication). Tracking systems, smartwatches and fitness bands, telematics, gas or water meters, pet tracking, and other LTE-M applications are just a few examples.
Global LTE IoT is divided by service type into Professional Services and Managed Services. Professional services are needed before, during, and after the deployment of LTE IoT technologies including LTE-M and NB-IoT. Planning, design, and implementation, advising, support and maintenance, and updates are all examples of these services. The professional services sector is expanding, with large corporations turning to players for consultation and implementation services. Professional services are particularly significant in the LTE IoT market because clients need to understand the feasibility of LTE IoT solutions. Consultants, security specialists, and dedicated project management teams specialize in the design and implementation of essential decision support software, tools, services, and knowledge for the companies offering these services.
Key Players in the Market
- Some of the key players operating in the global LTE IoT Market are Airtel India, Vodafone Limited, China Mobile Limited, Nokia, Deutsche Telekom AG, SAMSUNG, Vodafone Limited, Intel Corporation, AT & T Intellectual Property, and other prominent players
Get Valuable Insights into Global LTE IoT Market
In the new report, CRI Report thrives to present an unbiased analysis of the global LTE IoT Market that covers the historical demand data as well as the forecast figures for the period, i.e., 2021-2030. The study includes compelling insights into growth that is witnessed in the market. Global LTE IoT is divided by service type into Professional Services and Managed Services. Global LTE IoT market is segmented by End-user into Manufacturing, Healthcare, Energy and Utilities, Automotive and Transportation, Supply Chain and Logistics, Government and Public Safety, Agriculture, and Others. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.
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