The firm expects expects IoT cellular connections to grow to more than 2.4 billion in 2025, with the top three vertical markets (automotive, utilities and security) when combined accounting for over 46% of global IoT cellular connections in 2025. 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.
Andrew Brown, Executive Director of Enterprise and IoT Research at Strategy Analytics, said "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." "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," he added.
Matt Wilkins, Senior Analyst IoT Research at Strategy Analytics added, "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. Asia Pacific will remain the single largest region across the forecast period, accounting for almost 1 billion connections in 2025; with the top three regions (Asia Pacific, North America, and Western Europe) together accounting for over 75% of global cellular IoT connections in 2025."