Wide-Area IoT technologies including cellular and non-cellular solutions will be a growth vehicle for both operators and suppliers over the next five years.
The overall Wide-Area IoT market is expected to grow at a robust pace with cumulative revenues surpassing $130 billion over the next five years, according to a recently published report by Dell’Oro Group.
“The IoT market momentum is strengthening. Operators are in a unique position to leverage their mobile network footprint, and capture new revenue from a wide range of use cases,” said Stefan Pongratz, Senior Director at Dell’Oro Group. “The business use cases for Massive IoT and Broadband IoT using LTE-based technologies is rather compelling. Our analysis indicates that operators can with minimal incremental mobile infrastructure investments realize more than 20x of revenue upside,” continued Pongratz.
2G/3G/4G and cellular IoT technologies including LTE-M and NB-IoT are expected to drive the lion share of the connections, infrastructure, and carrier revenues over the forecast period.5G NR MTC was initially expected to be a post-2025 event. But with NR MTC now being a possible Rel. 17 topic, we have revised the 5G NR IoT projections upward – total 5G NR connections are now projected to account for a low single-digit share of the 2023 connections.