Asia Pacific will remain the single largest region for IoT cellular connections through to 2025, with the market accounting for nearly 1 billion connections by this time, Strategy Analytics predicts.
The automotive, utility and security vertical markets will drive growth in connections over the forecast period, the research firm said.
Strategy Analytics expects IoT cellular connections to grow to more than 2.4 billion in 2025, with automotive, utilities and security together accounting for over 46% of global connections.
Across the forecast period, the automotive vertical market will not only remain the single largest global consumer of IoT cellular connections, but increase its market share position by 2025.
”With the industry focusing on the path to 5G and low power 3GPP offerings, such as LTE Cat M1 and NB IoT, coupled with a variety of established connectivity platforms, there are lots of choices for cellular connectivity in IoT and the outlook has never been brighter,” Strategy Analytics executive director of enterprise and IoT research Andrew Brown said.
"However, the bewildering array of choices also runs the risk of creating confusion for customers with regard to which technologies should be employed in which use cases.”
Matt Wilkins, Senior Analyst IoT Research at Strategy Analytics added that "the growth in cellular connections underlines the importance of cellular networks in IoT, with networks not just being used to facilitate simple connections, but increasingly supporting rich data that will enable new and compelling use cases.”