The role played by emerging technologies such as NarrowBand-IoT and NarrowBand-LTE-M will be
instrumental in the hustle for gaining M2M market share. These technologies are specifically designed for IoT
applications and are on the verge of commercialization with numerous pilot projects being launched in
different parts of the world.
Cellular IoT offers numerous advantages such as broader coverage, deep indoor penetration, and smaller
module size, owing to which it is largely preferred in high-density deployments. This is also expected to aid in
the increased adoption of the technology over the next decade. Furthermore, cellular technologies, especially
LTE, are supported and backed by a consortium of established industry players and various organizations such
as 3rd Generation Partnership Project (3GPP) and Global System for Mobile Association (GSMA), which is
expected to boost the market growth in the coming years.
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Further Key Findings from the Study Suggest:
North America is expected to maintain its dominant position in the global market owing to a greater
penetration of next-generation LTE technologies, especially in the U.S.
2G holds the largest market share in terms of revenue generated; however, it is expected to gradually
lose its share to emerging technologies, such as 4G, LTE-M, and NB-IoT. An interesting factor about the
competing technologies, is the way in which these technologies operate in relation to each other (LTE-
M vs NB-LTE-M vs NB-IoT) and whether they act as complementary or rival technologies in IoT
Standard bodies, including 3GPP, are actively promoting the usage of cellular IoT technology and
network transformation in broadband connectivity, which is expected to drive market growth and
standardization over the forecast period.
Remote monitoring, cloud connectivity, predictive maintenance, remote operation, and remote
maintenance are some of the major applications being commercialized in different end-use industries.
Numerous applications of cellular IoT are anticipated to be the most important growth driver for the
market with a phenomenal increase in device shipments over the forecast period.
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