Cellular IoT Market expected to double by 2026

Cellular IoT market expected to double by 2026 – Telecoms.com

Low-power wide area (LPWA) networking is expected to fuel a 97 percent rise in the value of the cellular IoT market.

This is according to a report published by Juniper Research, which predicts it will be worth more than $61 billion by 2026, compared to $31 billion in 2022. It expects NB-IoT and LTE-M to be the growth engines, with the low cost of connectivity and devices stimulating adoption in sectors like agriculture, smart cities and manufacturing. Migration from 2G and 3G networks is also expected to account for some of the growth in NB-IoT and LTE-M connections.

Of course, cellular is not the only option when it comes to IoT, and expectations vary on how many IoT connections will actually use cellular technology. Ericsson predicted in a Mobility Report back in November 2020 that by 2026, cellular will account for 5.9 billion of the expected 26.9 billion IoT connections. Transforma Insights’ most recent forecast reckons there will be 19.9 billion IoT connections by 2026, with 3.2 billion of those being cellular connections.

Read more at the source of the news here – Telecoms.com