$2.8 Billion LTE IoT Market, 2023 - The Rise in Demand of Secured Connectivity for IoT Applications Presents Lucrative Opportunities - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Feb 26, 2019--The “LTE IoT Market by Technology (NB-IoT and LTE-M), Service (Professional Services and Managed Services), Industry (Manufacturing, Energy and Utilities, Transportation and Logistics, Healthcare, and Agriculture), and Region - Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.
The Long-Term Evolution (LTE) Internet of Things (IoT) market size is expected to grow from USD 800 million in 2018 to USD 2,800 million by 2023, at a Compound Annual Growth Rate (CAGR) of 28.4% during the forecast period.
The growth of connected devices and the need for unique and defined network qualities are the major growth factors for the LTE IoT market. However, operational downtime due to network infrastructure deployment could restrain market growth.
Major vendors in the LTE IoT market include Ericsson (Sweden), Vodafone (UK), Telstra (Australia), Sierra Wireless (Canada), PureSoftware (India), Sequans Communications (France), Orange (France), T-Mobile (US), Telus (US), MediaTek (Sweden), Athonet (Italy), NetNumber (US), Telensa (UK), Actility (France), and Link Labs (US).
Managed services segment to grow at a higher CAGR during the forecast period
Managed service providers operating in this market deliver their expertise in managing various operating activities (including infrastructure management, security operations, and cloud operations) to clients, enabling them to launch various Machine-to-Machine (M2M) offerings rapidly, at a variable cost.
With global coverage, the managed service provider offers customers comprehensive and cost-effective solutions. These managed service providers leverage partnerships with prime satellite and mobile networks to offer high-end managed services to application providers, system integrators, and end-user clients.
Europe to hold the largest market size and APAC to grow at the highest CAGR during the forecast period
Europe is leading the LTE IoT market due to the widespread adoption of the LTE technology for enterprises’ IoT applications. The region is leading in terms of LTE IoT coverage area. Huawei and Vodafone opened an open lab in Newbury, UK, for R&D of LTE IoT technologies and applications. The stage has been set for the widespread deployment of LTE IoT by cellular operators in the UK and rest of Europe. Various pre-commercial trials and plots have been deployed by Mobile Network Operators (MNOs) across Europe.
APAC has witnessed advanced and dynamic adoption of new technologies and has always been a lucrative market for telecom service providers. APAC is expected to grow at the highest CAGR during the forecast period in the LTE IoT market.
APAC includes countries such as Australia, New Zealand, Japan, and Singapore, who act as the early adopters of smart technology. In addition, these countries possess developed technological infrastructure, which promotes increasing adoption of telecom services and applications in this region.
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency Considered
2 Research Methodology
2.1 Research Data
2.2 Market Breakup and Data Triangulation
2.3 Market Forecast
2.4 Market Size Estimation
2.5 Assumptions for the Study
2.6 Limitations of the Study
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the LTE IoT Market
4.2 Market Top 3 Industries and Regions
4.3 Market By Region
4.4 Market Investment Scenario
5 Market Overview
18.104.22.168 Growth in the Number of Connected Devices
22.214.171.124 Need for Unique and Defined Network Qualities
126.96.36.199 Rise in Need for Long-Range Connectivity Between IoT Applications
188.8.131.52 Operational Downtime Due to Upgradation of Network Infrastructure
184.108.40.206 Rise in Demand of Secured Connectivity for IoT Applications
220.127.116.11 Additional Requirements for Deployment of LTE IoT Technology
18.104.22.168 High Initial Cost of Deployment
6 LTE IoT Market, By Technology
7 LTE IoT Market, By Service
7.2 Professional Services
7.3 Managed Services
8 LTE IoT Market, By Industry
8.3 Energy and Utilities
8.4 Transportation and Logistics
9 LTE IoT Market, By Region
9.2 North America
9.4 Asia Pacific
9.5 Middle East and Africa
9.6 Latin America
10 Competitive Landscape
10.2 Market Ranking
10.3 Competitive Scenario
11 Company Profiles
11.2 Vodafone Group
11.4 Sierra Wireless
11.6 Sequans Communications
11.8 T Mobile
11.15 Link Labs
For more information about this report visit https://www.researchandmarkets.com/research/f47v72/2_8_billion_lte?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190226005613/en/
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Related Topics:Computing Services,4G and 5G,Internet of Things and M2M
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT INTERNET NETWORKS
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 02/26/2019 07:12 AM/DISC: 02/26/2019 07:12 AM