Cellular IoT Market Overview

The Cellular IoT market is anticipated to grow significantly from 2025 to 2035, driven by the increasing adoption of connected devices and advancements in mobile network technologies. By 2025, the market is projected to reach a value of around USD 7.7 Billion. Looking ahead to 2035, it is expected to expand further to about USD 24.9 Billion. This represents an annual growth rate of 31.1% over the ten-year period.

Cellular IoT is defined as the unification of cellular communication technologies such as 4G LTE, 5G, and NB-IoT to offer seamless connectivity across devices, supporting smart applications in various industries. The cellular IoT market is now an essential enabler of digital transformation, especially in industries such as automotive, health care, manufacturing, agriculture, and utilities. One of the main drivers of growth of the cellular IoT market is the extensive roll-out of 5G networks, which provide ultra-low latency, massive device connectivity, and higher data transmission rates. The growing adoption of smart city projects and Industry 4.0 trends are also driving demand for cellular IoT solutions. The cellular IoT market is also being supported by innovations in low-power wide-area network technologies such as NB-IoT and LTE-M, which are energy-saving and cost-saving, making them suitable for battery-powered IoT devices. The market is also expected to have a high growth trend with major players concentrating on innovation, scalability, and bringing in artificial intelligence along with edge computing to make IOT features even more powerful.

Cellular IoT Market Drivers and Opportunities

Rapid Deployment Of 5G Networks Is Anticipated To Lift The Cellular Iot Market During The Forecast Period

​One of the strongest drivers in the cellular IoT market is the fast, widespread adoption of 5G technology globally. 5G delivers massive improvements in terms of bandwidth, device density, and latency, over their predecessors. Such features are pivotal for applications where data is to be sent in real-time, e.g., autonomous transportation, remote surgeries, and industrial automation. With up to 1 million devices in every square kilometer, 5G is perfectly suited for dense IoT installations, such as smart cities and large factories. Low latency ensures that data transfer from devices to systems is almost instant, which is imperative for mission-critical applications. With increased investment in 5G infrastructure by more countries and increased coverage by network operators, organizations across industries are taking advantage of 5G-based IoT solutions. Not only does this speed up digital transformation but also enables novel use cases which were not possible with existing 3G or 4G technologies. Telecom companies are also partnering with IoT solution companies to create industry-specific solutions, thus catalysing market growth. Analysis from the industry predicts that marketplace proliferation of 5G will lead to exponential growth in cellular IoT market size in years to come as it is the foundation for next-gen connectivity.

Growing Industrial Automation And Industry 4.0 Is A Vital Driver For Influencing The Growth Of The Global Cellular Iot Market

​The movement towards Industry 4.0 and growing emphasis on industrial automation are significantly driving demand for cellular IoT. Industry 4.0 is all about leveraging smart technologies, including IoT, AI, machine learning, and robotics to develop intelligent Industrial systems. Cellular IoT allows for smooth communication among machines, sensors, and central controllers, enabling predictive servicing, remote monitoring, and real-time process optimization. Unlike fixed wired networks, cellular IoT offers flexibility, scalability, and affordability for large-scale industrial installations. For example, LTE-M and NB-IoT are being used widely for their low power usage and capacity to serve a high volume of devices over vast distances. These properties are especially useful in applications such as logistics, energy, manufacturing, and agriculture where ongoing monitoring is important to performance and security. The capacity to collect data in real-time also results in better decision-making, lowered downtime, and increased productivity. Also, manufacturing hubs globally, particularly in Asia and Europe, are adopting automation to stay in business, generating demand for IoT infrastructure based upon cellular connectivity. Consequently, cellular IoT is evolving to become a pillar technology in modern industry evolution, contributing markedly to market growth expectations over the coming ten years.

Rising Demand In Healthcare And Remote Patient Monitoring Is Poised To Create Significant Opportunities In The Global Cellular Iot Market

​Healthcare offers a huge opportunity for cellular IoT, particularly in response to growing demands for telemedicine and remote patient monitoring (RPM). Cellular connectivity ensures that medical devices are free from local network constraints, enabling seamless data communication between patients and health professionals. This is especially important for chronic care, elderly care, and post-surgery care. Wearable ECG monitors, glucose monitors, and blood pressure cuffs are examples of such devices, which can send data in real-time to platforms in the cloud, allowing for timely diagnosis and intervention. With aging population growth and increasing pressure on health systems, there is an imperative to transition from hospital-centric care to home-centric monitoring, where cellular IoT comes in handy. Additionally, innovations in eSIM technologies and cellular modules with low power have increased IoT medical devices to be smaller, more reliable, and energy-conserving. The COVID-19 outbreak saw an uptick in adoption of connected health solutions, which continues to shape health care. Governments and insurance payers are increasingly backing initiatives supporting telemedicine, which is adding more traction to adoption. Consequently, health care offers one of fastest-growing opportunities for cellular IoT, with growth in markets envisioned as health becomes more digital.

Cellular IoT Market Scope

Cellular Iot Market Report Segmentation Analysis

The Global Cellular Iot Market Industry Analysis Is Segmented Into By Network, By Connection, By Application, By End-User, And By Region.

The 5G Segment Is Anticipated To Hold The Highest Share Of The Global Cellular Iot Market During The Projected Timeframe.

Based on network, market is segmented as 2G/3G, 4G, LTE-M, 5G, NB-IoT. In 2025, the segment of 5G segment dominates the market with 49.7% of market share. Because of its revolutionary effects on connection, performance, and scalability across IoT applications, the 5G category is in a strong position.  In order to support advanced IoT use cases like remote surgery, smart manufacturing, autonomous vehicles, and real-time industrial automation, 5G offers ultra-low latency, increased data transfer speeds, and the ability to link millions of devices per square kilometer.

The Broadband Segment Dominated The Market In 2025 And Is Predicted To Grow At The Highest CAGR Over The Forecast Period.

By Connection, the market is segmented into Wi-Fi, Broadband, Satellite, Cable, and Others. Among these, the global cellular IoT market is dominated by the broadband segment.  Broadband is perfect for enabling a variety of Internet of Things applications that require real-time data transfer and smooth device integration since it can offer fast, dependable, and continuous internet connectivity.

The Broadband IoT Segment Is Predicted To Grow At The Highest CAGR Over The Forecast Period.

By Application, the market is segmented into Broadband IoT, Massive IoT, Industrial Automation, and Critical IoT. Among these The global cellular IoT market is dominated by the broadband IoT segment because of its capacity to support high-data-rate applications in a variety of industries.  For bandwidth-intensive applications like in-car infotainment, smart healthcare systems, video surveillance, and real-time analytics in logistics and transportation, broadband IoT makes use of cellular connectivity.

The Commercial/Enterprise Segment Is Expected To Dominate The Market During The Forecast Period.

By End-user, the market is segmented into Individual, Commercial/Enterprise, and Industrial. he Commercial/Enterprise segment dominates the Global Cellular IoT Market due to the rising need for connected infrastructure, real-time monitoring, and automation across various business sectors. Enterprises in retail, logistics, healthcare, finance, and smart buildings are increasingly adopting cellular IoT solutions to streamline operations, enhance security, and improve customer experiences. The integration of IoT in commercial settings supports applications such as asset tracking, energy management, fleet management, and remote diagnostics, all of which demand reliable, scalable, and high-speed cellular connectivity.

The following segments are part of an in-depth analysis of the global cellular IoT market:

Cellular IoT Market Share Analysis by Region

Asia Pacific Is Projected To Hold The Largest Share Of The Global Cellular Iot Market Over The Forecast Period.

In 2025, Asia Pacific region hold significant share of 43.4% in the overall market, bolstered by its accelerated digitalization, growing industrial base, and growing deployment of smart infrastructure. China, Japan, South Korea, and India are leaders in cellular IoT adoption, fueled by massive government initiatives such as China's "Made in China 2025" and India's "Digital India" program. The region is also undergoing rapid growth with the presence of major telecom service providers and IoT solution providers. Furthermore, wide-scale deployment of 5G networks, growing smartphone penetration, and growing adoption of smart devices in manufacturing, transportation, agriculture, and smart cities have contributed significantly to the domination of the region. Asia Pacific's investment in automation and Industry 4.0 technologies also drives cellular IoT growth in commercial and industrial sectors. The large population base of the region coupled with evolving demands for efficient, networked service in urban as well as rural geographies continues to propel the market.

Moreover, North America is also expected to have the highest CAGR over the forecast period, which will be driven by superior network infrastructure, high adoption of IoT in the automobile and health sectors, along with increasing expenditure in smart technologies in various sectors.

Cellular IoT Market Competition Landscape Analysis

The global Cellular iot Market is poised for significant growth, with key players investing heavily in technology and infrastructure. These companies are actively engaged in research and development, strategic partnerships, and large-scale project implementations to enhance their market positions. ​

Global Cellular IoT Market Recent Developments News:

In Januray 2025, At CES 2024 in Norway, Nordic Semiconductor unveiled its latest IoT advancements, showcasing innovations in low-power Wi-Fi, LE Audio, Matter, and power management. The demonstrations highlighted key IoT technologies, including cellular IoT (LTE-M/NB-IoT), low-power Wi-Fi, Matter, DECT NR+, and Bluetooth LE, reinforcing the company's role in shaping the IoT ecosystem. These developments underscore Nordic Semiconductor’s commitment to advancing efficient and scalable IoT solutions for diverse applications.

In November 2023, Telenor has joined forces with Polarium to deliver global IoT connectivity services for energy storage solutions. By utilizing Telenor’s cellular-managed connectivity, Polarium can offer advanced digital solutions such as fleet management, anti-theft systems, remote monitoring, and real-time tracking. This partnership ensures seamless and secure coverage for energy storage systems worldwide, enhancing efficiency and reliability. The collaboration highlights the growing role of IoT in sustainable energy management.

The Global Cellular IoT Market is dominated by a few large companies, such as

·         AT&T Corporation 

·         China Mobile Communications Group Co., Ltd.

·         Ericsson

·         Huawei Technologies Co., Ltd. 

·         Nokia Corporation 

·         Nordic Semiconductor ASA 

·         Qualcomm Incorporated 

·         Sierra Wireless 

·         Telefonaktiebolaget LM Ericsson 

·         Telit Communications (Thales Group) 

·         Vodafone

·         Zhongxing New Telecommunications Equipment Co., Ltd. 

·         Others

·         Others                                                                                       

1.      Global Cellular IoT Market Introduction and Market Overview

1.1.    Objectives of the Study

1.2.    Global Cellular IoT Market Scope and Market Estimation

1.2.1. Global Cellular IoT Overall Market Size (US$ Bn), Market CAGR (%), Market forecast (2025 - 2035)

1.2.2. Global Cellular IoT Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2021 - 2035

1.3.    Market Segmentation

1.3.1. Network of Global Cellular IoT Market

1.3.2. Connection of Global Cellular IoT Market

1.3.3. Application of Global Cellular IoT Market

1.3.4. End-user of Global Cellular IoT Market

1.3.5. Region of Global Cellular IoT Market

2.      Executive Summary

2.1.    Demand Side Trends

2.2.    Key Market Trends

2.3.    Market Demand (US$ Bn) Analysis 2021 – 2024 and Forecast, 2025 – 2035

2.4.    Demand and Opportunity Assessment

2.5.    Demand Supply Scenario

2.6.    Market Dynamics

2.6.1. Drivers

2.6.2. Limitations

2.6.3. Opportunities

2.6.4. Impact Analysis of Drivers and Restraints

2.7.    Pricing Trends Analysis

2.8.    Overview of Technology Developments

2.9.    Porter’s Five Forces Analysis

2.9.1. Bargaining Power of Suppliers

2.9.2. Bargaining Power of Buyers

2.9.3. Threat of Substitutes

2.9.4. Threat of New Entrants

2.9.5. Competitive Rivalry

2.10.  PEST Analysis

2.10.1.   Political Factors

2.10.2.   Economic Factors

2.10.3.   Social Factors

2.10.4.   Technology Factors

2.11.  Value Chain / Ecosystem Analysis

2.12.  Key Regulation

3.      Global Cellular IoT Market Estimates & Historical Trend Analysis (2021 - 2024)

4.      Global Cellular IoT Market Estimates & Forecast Trend Analysis, by Network

4.1.    Global Cellular IoT Market Revenue (US$ Bn) Estimates and Forecasts, by Network, 2021 - 2035

4.1.1. 2G/3G

4.1.2. 4G

4.1.3. LTE-M

4.1.4. 5G

4.1.5. NB-IoT

5.      Global Cellular IoT Market Estimates & Forecast Trend Analysis, by Connection

5.1.    Global Cellular IoT Market Revenue (US$ Bn) Estimates and Forecasts, by Connection, 2021 - 2035

5.1.1. Wi-Fi

5.1.2. Broadband

5.1.3. Satellite

5.1.4. Cable

5.1.5. Others

6.      Global Cellular IoT Market Estimates & Forecast Trend Analysis, by Application

6.1.    Global Cellular IoT Market Revenue (US$ Bn) Estimates and Forecasts, by Application, 2021 - 2035

6.1.1. Broadband IoT

6.1.2. Massive IoT

6.1.3. Industrial Automation

6.1.4. Critical IoT

7.      Global Cellular IoT Market Estimates & Forecast Trend Analysis, by End-user

7.1.    Global Cellular IoT Market Revenue (US$ Bn) Estimates and Forecasts, by End-user, 2021 - 2035

7.1.1. Individual

7.1.2. Commercial/Enterprise

7.1.3. Industrial

7.1.3.1.              Retail

7.1.3.2.              Healthcare

7.1.3.3.              Manufacturing

7.1.3.4.              Consumer Goods

7.1.3.5.              Automotive

7.1.3.6.              ICT

7.1.3.7.              Others

8.      Global Cellular IoT Market Estimates & Forecast Trend Analysis, by Region

8.1.    Global Cellular IoT Market Revenue (US$ Bn) Estimates and Forecasts, by Region, 2021 - 2035

8.1.1. North America

8.1.2. Eastern Europe

8.1.3. Western Europe

8.1.4. Asia Pacific

8.1.5. Middle East & Africa

8.1.6. Latin America

9.      North America Cellular IoT Market: Estimates & Forecast Trend Analysis

9.1.    North America Cellular IoT Market Assessments & Key Findings

9.1.1. North America Cellular IoT Market Introduction

9.1.2. North America Cellular IoT Market Size Estimates and Forecast (US$ Billion) (2021 - 2035)

9.1.2.1.   By Network

9.1.2.2.   By Connection

9.1.2.3.   By Application

9.1.2.4.   By End-user

9.1.2.5.   By Country

9.1.2.5.1.     The U.S.

9.1.2.5.2.     Canada

9.1.2.5.3.     Mexico

10.  Western Europe Cellular IoT Market: Estimates & Forecast Trend Analysis

10.1.  Western Europe Cellular IoT Market Assessments & Key Findings

10.1.1.   Western Europe Cellular IoT Market Introduction

10.1.2.   Western Europe Cellular IoT Market Size Estimates and Forecast (US$ Billion) (2021 - 2035)

10.1.2.1.    By Network

10.1.2.2.    By Connection

10.1.2.3.    By Application

10.1.2.4.    By End-user

10.1.2.5.    By Country

10.1.2.5.1.  Germany

10.1.2.5.2.  Italy

10.1.2.5.3.  U.K.

10.1.2.5.4.  France

10.1.2.5.5.  Spain

10.1.2.5.6.  Benelux

10.1.2.5.7.  Nordics

10.1.2.5.8. Rest of W. Europe

11.  Eastern Europe Cellular IoT Market: Estimates & Forecast Trend Analysis

11.1.  Eastern Europe Cellular IoT Market Assessments & Key Findings

11.1.1.   Eastern Europe Cellular IoT Market Introduction

11.1.2.   Eastern Europe Cellular IoT Market Size Estimates and Forecast (US$ Billion) (2021 - 2035)

11.1.2.1.    By Network

11.1.2.2.    By Connection

11.1.2.3.    By Application

11.1.2.4.    By End-user

11.1.2.5.    By Country

11.1.2.5.1.  Russia

11.1.2.5.2.  Hungary

11.1.2.5.3.  Poland

11.1.2.5.4.  Balkan & Baltics

11.1.2.5.5. Rest of E. Europe

12.  Asia Pacific Cellular IoT Market: Estimates & Forecast Trend Analysis

12.1.  Asia Pacific Market Assessments & Key Findings

12.1.1.   Asia Pacific Cellular IoT Market Introduction

12.1.2.   Asia Pacific Cellular IoT Market Size Estimates and Forecast (US$ Billion) (2021 - 2035)

12.1.2.1.    By Network

12.1.2.2.    By Connection

12.1.2.3.    By Application

12.1.2.4.    By End-user

12.1.2.5.    By Country

12.1.2.5.1. China

12.1.2.5.2. Japan

12.1.2.5.3. India

12.1.2.5.4. Australia & New Zealand

12.1.2.5.5. South Korea

12.1.2.5.6. ASEAN

12.1.2.5.7. Rest of Asia Pacific

13.  Middle East & Africa Cellular IoT Market: Estimates & Forecast Trend Analysis

13.1.  Middle East & Africa Market Assessments & Key Findings

13.1.1.   Middle East & Africa Cellular IoT Market Introduction

13.1.2.   Middle East & Africa Cellular IoT Market Size Estimates and Forecast (US$ Billion) (2021 - 2035)

13.1.2.1.    By Network

13.1.2.2.    By Connection

13.1.2.3.    By Application

13.1.2.4.    By End-user

13.1.2.5.    By Country

13.1.2.5.1. UAE

13.1.2.5.2. Saudi Arabia

13.1.2.5.3. Turkey

13.1.2.5.4. South Africa

13.1.2.5.5. Rest of MEA

14.  Latin America Cellular IoT Market: Estimates & Forecast Trend Analysis

14.1.  Latin America Market Assessments & Key Findings

14.1.1.   Latin America Cellular IoT Market Introduction

14.1.2.   Latin America Cellular IoT Market Size Estimates and Forecast (US$ Billion) (2021 - 2035)

14.1.2.1.    By Network

14.1.2.2.    By Connection

14.1.2.3.    By Application

14.1.2.4.    By End-user

14.1.2.5.    By Country

14.1.2.5.1. Brazil

14.1.2.5.2. Argentina

14.1.2.5.3. Colombia

14.1.2.5.4. Rest of LATAM

15.  Country Wise Market: Introduction

16.  Competition Landscape

16.1.  Global Cellular IoT Market Product Mapping

16.2.  Global Cellular IoT Market Concentration Analysis, by Leading Players / Innovators / Emerging Players / New Entrants

16.3.  Global Cellular IoT Market Tier Structure Analysis

16.4.  Global Cellular IoT Market Concentration & Company Market Shares (%) Analysis, 2023

17.  Company Profiles

17.1.      AT&T Corporation 

17.1.1.   Company Overview & Key Stats

17.1.2.   Financial Performance & KPIs

17.1.3.   Product Portfolio

17.1.4.   SWOT Analysis

17.1.5.   Business Strategy & Recent Developments

* Similar details would be provided for all the players mentioned below 

17.2.      China Mobile Communications Group Co., Ltd.

17.3.      Ericsson

17.4.      Huawei Technologies Co., Ltd. 

17.5.      Nokia Corporation 

17.6.      Nordic Semiconductor ASA 

17.7.      Qualcomm Incorporated 

17.8.      Sierra Wireless 

17.9.      Telefonaktiebolaget LM Ericsson 

17.10.  Telit Communications (Thales Group) 

17.11.  Vodafone

17.12.  Zhongxing New Telecommunications Equipment Co., Ltd. 

17.13.  Others

18.  Research Methodology

18.1.  External Transportations / Databases

18.2.  Internal Proprietary Database

18.3.  Primary Research

18.4.  Secondary Research

18.5.  Assumptions

18.6.  Limitations

18.7.  Report FAQs

19.  Research Findings & Conclusion