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Cellular IoT Market to Rise Globally by 2026

According to Juniper Research latest study, the global value of the cellular IoT market will reach $61 billion by 2026; rising from $31 billion in 2022.

As the Cellular IoT market reaches an all time high in the last few years, the surge of 5G in the market is predicted to boost this market to higher levels.

Cellular IoT MarketAccording to Juniper Research latest study, the global value of the cellular IoT market will reach $61 billion by 2026; rising from $31 billion in 2022.

It identified the growth of 5G and cellular LPWA (Low-power Wide Area) technologies as key to this 95% increase over the next four years.

The new study, Cellular IoT: Strategies, Opportunities & Market Forecasts 2022-2026, predicted that LPWA solutions, such as NB-IoT and LTE-M, will be the fastest-growing cellular IoT technologies over the next four years.

It is anticipated that the low cost of both connectivity and hardware will drive adoption for remote monitoring in key verticals, such as agriculture, smart cities and manufacturing. In turn, LPWA connections are expected to grow 1,200% over the next four years.

2G and 3G Network Shutdowns to Drive LPWA

The report urged operators to migrate IoT connections on legacy networks to networks that support LPWA technologies. It is anticipated that demand from enterprises for low-cost monitoring technologies, enabled by LPWA networks, will increase as these legacy networks are shut off over the next four years.

Research co-author Charles Bowman commented: “Operators must educate users on the suitability of LPWA as a replacement technology for legacy networks. However, many IoT networks cannot solely rely on LPWA technologies. More comprehensive technologies, such as 5G, must underpin IoT network architectures and work in tandem with LPWA technologies to maximize the value of IoT services.”

5G to Generate $9 Billion for the IoT Market by 2026

Conversely, the report predicted that 5G IoT services will generate $9 billion of revenue by 2026; rising from $800 million in 2021. This represents a growth of 1,000% over the next five years as 5G coverage expands and operators benefit from the increased number of 5G IoT connections.

To capitalize on this growth, it recommended operators offer value-added services, such as network slicing and edge computing, to IoT users to maximize the value of 5G adoption.

To check out full report, please click here.

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Aishwarya Saxena

A book geek, with creative mind, an electronics degree, and zealous for writing.Creativity is the one thing in her opinion which drove her to enter into editing field. Allured towards south Indian cuisine and culture, love to discover new cultures and their customs. Relishes in discovering new music genres.

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