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Cellular IoT Module Market: Thriving Business for Multiple End-use Industries

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Archives, Global Trade Daily, Market insight, Technology

Cellular IoT Module Market: Thriving Business for Multiple End-use Industries

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According to Future Market Insight, the cellular IoT modules market is worth US$ 16.88 Bn in 2023 and US$ 20.83 Bn by 2033. A CAGR of 23.4% is anticipated in the market during the forecast period.

It is projected that the rising adoption of 5G technology drives further market expansion. Demand for cellular IoT modules is expected to rise because of the 5G technology’s increased data speeds, lower latency, and more coverage.

The growth of mHealth services and government initiatives to support IoT in healthcare are also expected to contribute to the cellular IoT module market expansion. The overall market share is being impacted by the expansion of healthcare facilities and the rising demand for healthcare services.

A crucial component of cellular IoT security policy is cloud-based security, as insecure cloud infrastructure increases the risk of data theft and device piracy. For instance, a drone used for surveillance or delivery can process information like imaging data and navigational instructions on its own.

Applications of Cellular IoT Modules in Different Industries

Automotive Industry: The sales of cellular IoT modules in the automotive industry are expected to grow significantly during the forecast period due to the increased demand for connected automobiles. Since connected automobiles allow communication between vehicles and with the outside world, the automotive industry is projected to undergo substantial change as a result.

Telecom Industry: Currently, the telecom industry improves the cellular IoT modules market outlook. The market’s expansion is also aided by the industry’s rapid digitization and growing level of automation. Solutions for the Narrowband Internet of Things (NB-IoT) and Long-Term Evolution for Machines are being implemented by numerous medium-sized and large-scale businesses.

Key Takeaways 

  • The cellular IoT module market is likely to register at a CAGR of 23.4% during the forecast period.
  • Historically, the cellular IoT module market registered at a CAGR of 17% between 2018 and -2022.
  • The value of the cellular IoT module market is expected to be US$ 20.83 Bn by 2033.
  • Based on components, the hardware segment is likely to register at a 26.5% CAGR in the cellular IoT module market.
  • North America shows significant growth in the cellular IoT module market by 2033.
  • During the forecast period, the cellular IoT module market in China is likely to dominate.

Competitive Landscape 

The inclusion of cellular IoT modules in the product lines of telematics solution providers has made it easier for fleet managers and off-highway vehicle OEMs to gather and analyze data to identify significant patterns and issues in the field’s instrumentation usage.

Furthermore, it is projected that a number of elements, such as robust security, ubiquitous quality, and resilient networks, would energize the sector over the coming several years.

Recent Developments:

  • In order to fulfill the rising need from the industry for smart-grid communications between charging stations and automobiles, Qualcomm developed a new power line communication device in May 2022.
  • In order to address the communication needs of electric vehicle (EV) charging stations, also known as electric vehicle supply equipment, Qualcomm Technologies, Inc. has developed the QCA7006AQ, a next-generation power line communication (PLC) device (EVSE).
  • Sierra Wireless developed the HL7845 Module in April 2021. The standard provides a 450 MHz wireless spectrum to meet the IoT connectivity requirements of European utility services.
  • In February 2021, Fibocom collaborated with Red Tea, a leading provider of connectivity solutions, and Deutsche Telekom, the largest integrated telecoms company in the world, to ensure that it only provided best-in-class advertising nuSIM IoT components.
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Archives, Global Logistics, Global Trade Daily, Technology

IoT Device Management Market to hit US$11 Bn by 2028

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As per the report by Global Market Insights, Inc. “Worldwide IoT Device Management market was valued USD 1.5 billion in 2021 and will surpass a revenue collection of USD 11 billion by 2032 with an annual growth rate of 25% over 2022 to 2028.”

The Internet of Things (IoT) is accentuating both the benefits of technological dominance and the perils of cross-border interconnection. China is currently a major player in designing IoT devices, which is facilitated by the expanding technical presence of Chinese companies.

For instance, in December 2021, Amazon Web Services, Inc. (AWS), a subsidiary of tech leader Amazon providing on-demand cloud computing, announced the extension of its strategic partnership with social media giant Meta. AWS and Meta intended to collaborate to improve the performance of PyTorch on AWS and to speed up the development, training, deployment, and operation of artificial intelligence (AI)/machine learning (ML) models.

For extensive analysis, the IoT device management market has been classified in terms of component, deployment model, application, and region. Based on component, the industry has been classified into solutions and services. Under solution, the market has been divided into security management, data management, real time streaming analytics, remote monitoring management, and others.

The security management segment gained a market share of approximately 20% in 2021 and sis projected to witness significant growth by 2028 driven by increase in cyberattack cases or instances. Meanwhile, in 2021, the data management segment garnered around 10% share in the market and is primed to attain a sizable revenue by the end of 2028 majorly because of mounting penetration of smartphones and internet services in the industry. The others segment gained around 5% market share in the year 2021 and is slated to achieve substantial growth through 2028 owing to prevalent integration of networking technologies in the sector.

Under services, the market has been further classified into professional service and managed service. The managed service segment is speculated to observe notable growth at a promising CAGR of above 35% over the review timeline due to increasing need to improve customer experience.

With respect to application, the industry sector has been bifurcated into smart manufacturing, connected logistics, smart health, smart retail, smart utilities, and others. The connected logistics segment is foreseen to expand at a significant CAGR of around 30% over the review timeline on account of increasing digitalization across the logistics as well as the transportation industries.

In 2021, the smart utilities segment held over 10% share in the IoT device management market and is anticipated to expand at an exponential rate over the forecast years because of rising adoption of IoT technology in the utility industry. The others segment is expected to record a CAGR of approximately 20% between 2022 and 2028 as the demand for proficient management of connected devices is soaring across the market.

From the regional standpoint, the Latin America market is set to grow at approximately 35% CAGR through the assessment timeframe on account of rising implementation of cloud-based solutions.

Meanwhile, the Middle East and Africa IoT device management industry is primed to develop at a sizable CAGR of above 30% over the forecast period owing to surging strategic partnerships among major industry players in order to augment the quality of connected devices as well as customer experience.

The IoT Device Management market consists of Advantech Co. Ltd., Aeris Communications LLC, Amazon Web Services Inc., Amplia Soluciones S.L, AVSystem, Bosch.io GmbH, Cumulocity GmbH, Huawei Technologies Co. Ltd., GE Digital, Google LLC, IBM Corporation, Microsoft Corporation, Oracle Corporation, Particle Industries Inc. PTC Inc., Silicon Laboratories Inc., Smith Micro Software Inc., SiteWhere LLC, Telite Communications PLC, Vodafone Group PLC, VMware Inc., and Wind River Systems Inc. 

 

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Archives, Global Trade Daily, Technology

IoT Network Management Market is Projected to Record a CAGR of 23.3%, during 2022 – 2032

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According to the IoT network management industry analysis by Future Market Insights (FMI), the demand registered in the IoT network management market will grow at a noteworthy CAGR of around 23.3% from 2022-2032. The report states that the market is expected to reach a valuation of US$ 5.1 Bn by the end of 2022.

IoT networks are rapidly expanding across the globe, allowing businesses, and industries to control and/or monitor a broad range of smart gadgets. With any network technology, speed and responsiveness are crucial for accurate and dependable IoT device performance.

IoT networks, on the other hand, have a variety of network performance issues due to the presence of heterogeneous and resource-constrained devices communicating through error-prone radio channels and frequently deployed in hostile environments.

The Internet of Things (IoT) tangibly solves significant business problems in a variety of industries. Healthcare, smart cities, building management, utilities, transportation, and manufacturing are among the early users of this technology, attesting to its numerous advantages.

However, the number of threats and cyberattacks directed at IoT devices and networks is on the rise in both number and complexity. Attacks like IoT botnets, DNS threats, IoT ransomware, IoT physical security, and shadow IoT are on the rise in IoT devices, connected software, and network connections.

Combining IoT solutions with edge processing technology supports minimizing the vulnerabilities as edge security helps in protecting users and sensitive data. Therefore, there is an increased need to secure the devices and network, and use them to strengthen network security. As a result, enterprises are deploying IoT network management solutions to protect devices against new security threats.

“Different functionalities of IoT network management help to maintain network performance. Increasing adoption of IoT network management platforms across large enterprises will augment the growth in the market over the forecast period,” says an FMI analyst.

Key Takeaways:

  • By solution, demand in the network management platform segment is expected to grow at a CAGR of 24.4% through 2032.
  • Based on enterprise size, the SME segment is predicted to grow by 8.9X during the forecast period.
  • In terms of industry, the healthcare segment is predicted to grow at a CAGR of 29.9% between 2022 & 2032.
  • By region, North America accounted for the largest market share of around 32.3% in the IoT network management market in 2021, whereas South Asia & Pacific region is showing the highest growth of around 28.4% CAGR during the forecast period.

Competitive Landscape

IoT network management providers are focusing on strategies such as product innovation to improve their offerings and enhance their product portfolios to meet growing demand. Furthermore, a number of enterprises are collaborating with technology experts to build their own IoT network management solutions. For instance:

  • In March 2021, BehrTech collaborated with WEPTECH, a pioneer in the development and manufacture of cutting-edge wireless communication technologies launched cost effective MYTHINGS-certified gateway for Mioty, which is a next-gen LPWAN protocol.
  • In March 2022, a strategic partnership was established between Sierra Wireless and T-Mobile to strengthen the IoT connectivity solutions of Sierra Wireless by combining the IoT network management tools with LPWA, 5G coverage, AND 4G LTE from T-Mobile’s powerful mobile network.
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Archives, Global Trade Daily, Technology

How IoT Is Brightening Your Future

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As technology advances, we are witnessing new technologies emerging and changing our manner of life. One such technology is the Internet of Things (IoT) which is providing tremendous benefits for individuals and businesses alike. IoT can be defined as a network of “things” – typically physical objects such as appliances, devices, people, animals, and the like, that are fitted with software, sensors, and other technologies that allow them to connect and share information with other devices over the internet. 

This makes it possible to operate these devices remotely or via voice commands. This technology has revolutionized information transmission and networking capabilities, which has impacted everyday life for the better. Here are some popular IoT technologies and devices that are changing lives today and promising a brighter future ahead.

 Smart home technology

Smart home technology enables homeowners to control devices remotely through their smartphones, tablets, or computers. These devices can range from lights, thermostats, doors, security cameras, and kitchen appliances among others. With a smart home security system, you can be able to monitor your home from wherever you are and protect it from break-ins. A smart thermostat allows you to control heating and cooling. For instance, on a hot day, you can program your thermostat to start cooling the house minutes before you get home.

Ambient sensing is another smart home tech that is growing in popularity among homeowners. This sensing technology is designed to use sensors to gather information and understand a home’s surroundings. For instance, temperature sensors can be used to monitor a home’s temperature to determine if the home operates at a healthy temperature. The benefits of ambient sensing are numerous including improved comfort, reduced property damage, and enhanced security.

 Wearable devices

You can apply wearable devices in various ways such as for leisure, wellness, and personal fitness. These devices have been largely used in healthcare to monitor patients remotely. Monitoring devices are used to measure vital signs in a patient such as temperature, heart rate, glucose levels, and blood pressure. They then send the information to the doctor to keep a record of the patient’s health. In case of abnormalities, the doctor can advise the patient accordingly. In addition, wearable health monitors can send alerts in case the patient has a medical emergency such as seizures or asthma attacks.

IoT is also valuable in tracking patients’ medication. Trackers can be used to remind a patient to take medication or send an alert when they are due for a prescription renewal. If you are taking care of a sick relative, especially the elderly, your work is made easier in that you don’t have to monitor them all the time. You can go about your day, leaving the IoT devices to keep an eye on your patient.

 Smart cars

The invention of smart cars has made driving and vehicle maintenance so much easier. A car fitted with IoT technology can perform various tasks. Technology such as Google Maps on your phone or car dashboard is designed to help you navigate your way from point A to Z. Besides this, your smart car can also do other tasks such as helping you avoid traffic, recommending the shortest route to your destination, and even spotting an empty parking slot for you. In car repair and maintenance, your car can remind you when it is due for regular servicing. In addition, it can help detect car problems and even allow your mechanic to run remote diagnostics if the issue is mechanical. So it would be of great benefit to include a cheap travel insurance for your car in cases when those smart cars show that there is a problem with your vehicle. 

 Smart farming

IoT technology has also been used in agriculture. In such a time when we are experiencing climate change, drought, and other factors that are a modern farmer’s nightmare, IoT makes farming easier and cheaper. For instance, with a smart irrigation system, you can be able to provide just enough water for your crops. The system monitors the soil’s moisture content using sensors and uses the information to water the crops if the moisture level has gone below the set level. This prevents overwatering, which not only saves water but also protects the crops from damage. You can also use IoT technology to measure the health of the soil. The results give valuable insights such as fertilizer requirements, the best crops to plant among others.

 Infant monitor

If you are a parent, you know how keeping an eye on your baby can be tasking. Moreover, just being able to see how your baby is fairing when you are away gives you so much peace of mind. IoT-enabled baby monitors allow you to keep an eye on your baby remotely. It provides real-time information on your baby’s breathing, body temperature, length of sleep, and sleeping postures. You can easily see your baby on video when getting work done in another room or away doing your grocery shopping. Baby monitors also save you from waking up at night unnecessarily to check on your child. These devices can send alerts on your phone if they detect something unusual.

 Conclusion

Technology is surely changing lives for the better. IoT in particular offers improved safety, comfort, peace of mind, and convenience. From smart home tech that includes smart lights, smart appliances, smart security, and more, to other devices such as infant monitors, smart cars, and smart irrigation systems are designed to make your life easier. Moreover, with health wearables, you can have the peace of mind that your doctor is monitoring your health every single second.

 

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Archives, Commentary, Global Logistics

The Utilization of IoT Technology in Smart Logistics

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With the new IoT-powered supply chain, the industry can now track goods from anywhere, at any time, on a global scale, transforming the modern supply chain as we know it.

We live in a complex, global world, and few industries better illustrate this complexity than logistics. In this multifaceted landscape, missteps along the supply chain are unavoidable. Most consumer goods travel thousands of miles, changing hands multiple times, before reaching their final destinations. Yet, no matter how solid the logistics network for a moving asset is, at some point a truck will get stuck in traffic, a crate will be delayed at a warehouse or an asset will go missing altogether.

Most parcels languish for much of their time in transit dead-zones; goods are first logged at factories, warehouses and delivery depots, but little real-time data exists during the journey between these points. Although radio-frequency identification (RFID) tags help track goods as they reach their destination, when it comes to following mobile assets, traditional RFID technology falls short. They give no information on what happens ‘in between’, leaving logistics managers largely in the dark about the state of the goods they’re charged with moving safely, and quickly, through a complex supply chain.

With traditional supply chain management solutions, logistics managers often only learn about delayed or misrouted assets after they arrive hours late—or not at all—at their destinations. These hours in limbo translate into lost productivity, delayed production and broken client relationships.

IoT technology unlocks the value in supply chains

Using the real-time data collected by IoT sensors, companies are now able to identify where to trim the fat and make quicker, bolder and more informed business decisions that sharpen their competitive edge. It also gives unmatched insights on customer behaviors, enabling them to innovate based on sound evidence. And by accessing data in real-time, businesses can anticipate their customers’ needs and desires before they do, enabling them to deploy resources more strategically and be more adaptable.

Real-time asset tracking streamlines field operations

As a tracking tool, IoT technology sharpens efficiencies between warehouses and distributors, giving customers clearer visibility of their deliveries. But more than this, real-time tracking provides data with fine-grain accuracy, hyper-speed connectivity, low-latency (less downtime), and deep coverage.

In contrast to RFID-based scan points, the IoT smart tracking device securely transmits real-time information about the exact location of those goods at any point along the supply chain, enabling businesses to minimize costly errors or avoid disruptive bottlenecks quickly.

Unlike most first-generation smart devices, assets connected to the IoT network don’t rely on WiFi or 4G, so connectivity issues are lessened, regardless of where the asset travels. IoT devices also benefit from deeper coverage in traditionally low-connectivity areas such as garages and basements.

Cameras installed on multiple parts of delivery vehicles give a 360° view of the travelling environment, while LTE signals in vehicles make for better GPS tracking. The quality and quantity of granular data that these intelligent devices can collect and organize is unprecedented. Thanks to this new level of information, global companies are beginning to see their supply chains become leaner and more efficient. 

Reducing delay-related costs with improved speed and accuracy

As goods make their way through the supply chain, IoT sensors return information about journey times, traffic surge spots, warehouse delays, network gaps or a change in ambient temperature. These up-to-the-minute alerts allow companies to mobilize quickly across a complex, global transportation network. Delayed assets can cause major disruptions further down the supply chain, but smart logistics turns potentially costly disruptions into a minor hiccup.

Building a lean supply chain

As our global economy becomes even more interconnected, investing in IoT-powered smart logistics solutions has no longer become a ‘nice to have’ option, but a critical necessity, giving the industry all the tools it needs to remain at the forefront of agile innovation in an everchanging world. 

 

Gregg Abbate is the iLogistics key account manager of Advantech.