Connected Intelligence Redefined: Surge in IoT-Powered Cellular Connectivity Global Networks Accelerate with the Rise of Real-Time Device-to-Device Communication | SNS Insider

Rapid advancements in 5G infrastructure and growing demand for real-time data are fueling widespread adoption of cellular IoT.

Pune, June 05, 2025 (GLOBE NEWSWIRE) — Cellular IoT Market Size Analysis:

“The SNS Insider report indicates Cellular IoT Market size was valued at USD 5.78 billion in 2023 and is estimated to reach USD 43.90 billion by 2032, growing at a CAGR of 25.4% during the forecast period of 2024–2032.”

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Major Players Analysis Listed in this Report are:

• Qualcomm Incorporated
• Sierra Wireless
• Nordic Semiconductor ASA
• Cisco Systems, Inc.  
• Semtech
• Verizon Communications Inc.
• Microsoft Corporation
• Telefonaktiebolaget LM Ericsson
• Huawei Technologies Co. Ltd.
• AT&T Inc.
• Tata Communications  
• Fibocom Wireless Inc.
• Quectel Wireless Solutions Co., Ltd

In the U.S., growth is driven by early 5G deployment, high IoT adoption in automotive and energy sectors, and strong tech infrastructure. The U.S. Cellular IoT market was valued at USD 1.42 billion in 2023 and is projected to reach USD 9.20 billion by 2032, growing at a CAGR of 23.15% during 2024–2032.

Cellular IoT Market Report Scope:

Report Attributes	Details
Market Size in 2023	US$ 5.78 Billion
Market Size by 2032	US$ 43.90 Billion
CAGR	CAGR of 25.4 % From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Key Segments	• By Component (Hardware, Software) • By Technology (2G, 3G, 4G, 5G) • By End-Use (Agriculture, Automotive & Transportation, Consumer Electronics, Energy, Environment Monitoring, Healthcare, Retail, Smart Cities, Others)
Key Growth Drivers	Growing Adoption of 5G and LPWAN Technologies Accelerates Cellular IoT Market Growth

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By Component: Hardware Dominates While Software Grows Fastest

The hardware segment dominated the Cellular IoT market in 2023 and accounted for a significant revenue share, due to the continued use of IoT hardware such as modules, chipsets, sensors, and embedded SIMs. As the number of connected devices deployed continues to expand, the requirement for reliable, scalable hardware increases. Continued growth fueled by innovations in edge devices and low-power modules

The software segment is expected to achieve the fastest CAGR during 2024–2032. This growth is supported by the increasing demand for IoT platforms, security solutions, and device management systems. When cellular IoT solutions scale, they need software that orchestrates the enormous device fleets, allows powerful real-time analytics, and maintains the security of mobile networks across many verticals.

By Technology: 4G Leads, While 5G Accelerates Fastest

The 4G  segment dominated the market and accounted for a significant revenue share in 2023. As 4G is well established and available most everywhere, with plentiful bandwidth and a mature ecosystem. It is broadly used in meters, fleet management, and industrial monitoring. The cost-efficient and high-performance trait of 4G is what makes it the perfect match for mass IoT deployment.

By 2032, the 5G segment is anticipated to experience the fastest CAGR. The ultra-low latency, high bandwidth, and network slicing capabilities of 5G render it ideal for mission-critical use cases like self-driving cars,  remote surgeries, and complex robotics. As 5G networks mature worldwide, they will exponentially drive next-gen cellular IoT use cases.

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By End-Use: Energy Sector Dominates, Automotive & Transportation Surges Fastest

The energy sector dominated the market in 2023 and accounted for a significant revenue share, owing to the extensive use in smart grid monitoring, renewable energy optimization, and asset tracking in remote areas. The monitoring of data in real time will enable utility providers to lower the loss of electricity, find any faults in a matter of record times, a nicer experience of service delivery for the general public. As more variable distributed energy resources and smart metering are adopted, cellular IoT has become an integral part of energy management.

The automotive & transportation industry is estimated to register the fastest CAGR during the forecast period. Connected vehicles, real-time traffic analytics, and logistics optimization all benefit from cellular IoT. Some of the factors that would assist the segment’s growth over the forecast period include the rising investments in vehicle-to-everything (V2X) technology and autonomous mobility solutions.

Regional Outlook: North America Leads, Asia-Pacific Accelerates Fastest

North America dominated the global Cellular IoT market and accounted for 36% of revenue share in 2023, riding the wave of 5G adoption and use cases, as well as regulatory support for smart technologies and a strong tech infrastructure. This is characterized by the presence of large players and consumer readiness to adopt it.

APAC is the fastest-growing region during the forecast period, owing to the rapidly growing urbanization, the increasing automation of industries & advancements associated with government initiatives in countries such as China, India, and South Korea. The regional expansion is driven by the expanding telecom infrastructure and rising investments in smart city projects.

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Recent Developments in the Cellular IoT Market (2024)

• May 2024 – Qualcomm launched its new Snapdragon X75 platform, enhancing 5G cellular IoT connectivity with integrated AI capabilities.
• April 2024 – Huawei introduced a compact IoT module designed for smart meters and wearables, targeting emerging markets.
• March 2024 – Sierra Wireless partnered with Sony Semiconductor to develop LPWA solutions for large-scale IoT deployments.

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