셀룰러 IoT 시장 : 점유율 분석, 업계 동향과 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the cellular IoT market size was valued at USD 7.63 billion in 2025 and estimated to grow from USD 9.34 billion in 2026 to reach USD 25.71 billion by 2031, at a CAGR of 22.45% during the forecast period (2026-2031).

This report is Segmented by Component (Software [Security Platform, and More], Hardware [Antennas, and More], and More), Technology (2G, 3G, and More), End-User Industry (Automotive and Transportation, Energy and Utilities, Healthcare, Agriculture, and More), Application (Asset Tracking, Smart Metering, Industrial Automation, and More), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

Global Cellular IoT Market Trends and Insights

5G SA roll-out enabling URLLC IoT

Commercial standalone 5G networks deliver sub-5 ms latency that industrial firms require for closed-loop automation. AT&T's June 2024 RedCap launch in Dallas allowed chipset vendors to certify devices on a live 5G SA network and confirmed power-consumption cuts of 65% against LTE Cat-4 modules.Telefonica's German trials and Samsung-Hyundai manufacturing lines underline readiness, yet true scale hinges on national 5G SA coverage and affordable module supply.

Module ASPs below USD 4 for Cat-1bis

Large 2024 tenders in China pushed Cat-1bis modules under USD 4, widening 4G's addressable base before older networks shut down. Quectel and Fibocom together captured two-thirds of module revenue, but heavy reliance on a single manufacturing region has triggered supply-security reviews in Europe and the United States. Non-Chinese suppliers face margin compression; u-blox exited the segment in January 2025 after sustained losses.

High power draw of 5G modules in battery devices

Even after RedCap efficiency gains, absolute power remains a challenge for sensors targeting 10-year field life. Nordic Semiconductor's nRF9151 module introduced Power Class 5 output to extend battery cycles and accommodate satellite fallback links essential for remote agriculture. Device makers are integrating energy-harvest options but must trade cost and size against performance.

Other drivers and restraints analyzed in the detailed report include:

1. Government-funded NB-IoT smart-city mandates
2. 5G RedCap modules unlock mid-tier devices
3. 2G/3G sunsets causing retrofit costs

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Hardware contributed 63.35% of 2025 revenue as manufacturers rushed to replace legacy units ahead of network sunsets. Qualcomm posted 27% year-over-year IoT revenue growth to USD 1.58 billion in Q2 2025 on the back of robust chipset demand. The cellular IoT market size attributed to services is expected to outpace hardware with a 24.10% CAGR through 2031, reflecting climbing subscriptions for global connectivity management, firmware-over-air updates, and zero-touch security patches.

Global enterprises now insist on unified dashboards that orchestrate multi-carrier, multi-technology fleets. KORE Wireless already manages 19 million active lines across 200 countries through AI-driven fault detection. Professional services teams fill knowledge gaps in radio-planning, certification, and regulatory compliance. Managed-service contracts ensure recurring revenue that cushions hardware price erosion, aligning vendor incentives with customer uptime and security objectives.

4G LTE Cat-1 secured 56.20% revenue share in 2025 after Chinese OEMs slashed module prices below USD 4. Complementary LPWA modes such as LTE-M and NB-IoT serve ultra-low-throughput use cases including metering and leak detection. Legacy 2G/3G connections decline faster than previously forecast because operators are reallocating spectrum to 5G SA. The cellular IoT market size for 4G will taper as customers migrate to RedCap, but it remains a high-volume option where coverage and cost trump bandwidth.

5G RedCap is registering a 27.10% CAGR and is viewed as the bridge between LPWA and full-spec 5G. Samsung and Hyundai validated RedCap in a February 2025 factory trial, showing deterministic latency and 40% energy savings compared with LTE-M. Non-terrestrial networks that complement terrestrial 5G are gaining momentum; Viasat and Myriota launched the first 5G NTN service for environmental sensing in March 2025, opening pathways for global coverage on a single module SKU.

Complete Report Scope:

• By Component
  • Hardware
    • Modules / Chipsets
    • Antennas
    • Gateways and Routers
  • Software
    • Connectivity Management Platform
    • Device Management
    • Security Platform
    • Data Analytics Platform
  • Services
    • Professional Services
    • Managed Services
• By Technology
  • 2G
  • 3G
  • 4G LTE (Cat-1/Cat-4)
  • LTE-M
  • NB-IoT
  • 5G NR (eMBB and RedCap)
  • Non-Terrestrial (Satellite NTN)
• By End-User Industry
  • Automotive and Transportation
  • Energy and Utilities
  • Manufacturing and Industrial
  • Healthcare
  • Retail
  • Consumer Electronics
  • Agriculture
  • Logistics and Supply Chain
  • Smart Cities / Public Infrastructure
• By Application
  • Asset Tracking
  • Smart Metering
  • Industrial Automation
  • Remote Monitoring and Control
  • Wearables and Personal Devices
  • Smart Home Devices
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Chile
    • Rest of South America
  • Europe
    • Germany
    • United Kingdom
    • France
    • Italy
    • Spain
    • Netherlands
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East and Africa
    • Middle East
      • GCC (Saudi Arabia, UAE, Qatar, etc.)
      • Turkey
      • Rest of Middle East
    • Africa
      • South Africa
      • Nigeria
      • Kenya
      • Rest of Africa

Geography Analysis

Asia Pacific secured 69.60% of 2025 revenue and is set to advance at 28.60% CAGR through 2031 on the back of national digital-transformation plans. China expects 4.1 billion licensed cellular connections by 2030, representing 70% of global totals. The cellular IoT market size attached to Chinese deployments alone is poised to dwarf every other region combined as 5G-Advanced coverage blankets additional provinces.

Regional manufacturing concentration cuts module costs but introduces dependency risk that Western regulators now scrutinize. India's USD 5.76 billion Smart Cities Mission and Indonesia's upcoming RedCap spectrum auctions add incremental volume outside China. Emerging markets across Southeast Asia adopt turnkey cloud-managed private-network packages that offset limited local telecom expertise, ensuring that connectivity gaps shrink quickly. North America positions itself as the premium application hub, with AT&T and T-Mobile focusing on low-latency industrial deployments. Europe places compliance and sustainability at the center of IoT spending, with Telefonica testing RedCap in Germany and Ericsson rolling out private 5G in French municipalities. The cellular IoT market share of Asia Pacific is unlikely to erode before 2030, but revenue mix will swing toward managed services in all three regions as device counts grow.

1. Quectel Wireless Solutions Co., Ltd.
2. Fibocom Wireless Inc.
3. Telit IoT Solutions Holding Ltd.
4. Semtech Corporation (incl. Sierra Wireless, Inc.)
5. u-blox Holding AG
6. Qualcomm Incorporated
7. MediaTek Inc.
8. CommSolid GmbH
9. Sequans Communications SA
10. ZTE Corporation
11. Thales Group
12. Texas Instruments Incorporated
13. Nordic Semiconductor ASA
14. Huawei Technologies Co. Ltd.
15. Telefonaktiebolaget LM Ericsson
16. Vodafone Group plc
17. China Mobile Limited
18. Verizon Communications Inc.
19. AT&T Inc.
20. Deutsche Telekom AG

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 INTRODUCTION

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET LANDSCAPE

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 5G SA roll-out enabling URLLC IoT
  • 4.2.2 Module ASPs below USD 4 for Cat-1bis
  • 4.2.3 Government-funded NB-IoT smart-city mandates
  • 4.2.4 5G RedCap modules unlock mid-tier devices
  • 4.2.5 Sustainability-linked asset-tracking demand
  • 4.2.6 Mass certification of eSIM/iSIM
• 4.3 Market Restraints
  • 4.3.1 High power draw of 5G modules in battery devices
  • 4.3.2 2G/3G sunsets causing retrofit costs
  • 4.3.3 Cat-1bis chipset supply volatility (China fabs)
  • 4.3.4 Fragmented IoT security standards and liabilities
• 4.4 Value Chain Analysis
• 4.5 Regulatory Landscape
• 4.6 Technological Outlook
• 4.7 Porter's Five Forces Analysis
  • 4.7.1 Bargaining Power of Suppliers
  • 4.7.2 Bargaining Power of Buyers
  • 4.7.3 Threat of New Entrants
  • 4.7.4 Threat of Substitutes
  • 4.7.5 Competitive Rivalry

5 MARKET SIZE AND GROWTH FORECASTS (VALUE)

• 5.1 By Component
  • 5.1.1 Hardware
    • 5.1.1.1 Modules / Chipsets
    • 5.1.1.2 Antennas
    • 5.1.1.3 Gateways and Routers
  • 5.1.2 Software
    • 5.1.2.1 Connectivity Management Platform
    • 5.1.2.2 Device Management
    • 5.1.2.3 Security Platform
    • 5.1.2.4 Data Analytics Platform
  • 5.1.3 Services
    • 5.1.3.1 Professional Services
    • 5.1.3.2 Managed Services
• 5.2 By Technology
  • 5.2.1 2G
  • 5.2.2 3G
  • 5.2.3 4G LTE (Cat-1/Cat-4)
  • 5.2.4 LTE-M
  • 5.2.5 NB-IoT
  • 5.2.6 5G NR (eMBB and RedCap)
  • 5.2.7 Non-Terrestrial (Satellite NTN)
• 5.3 By End-User Industry
  • 5.3.1 Automotive and Transportation
  • 5.3.2 Energy and Utilities
  • 5.3.3 Manufacturing and Industrial
  • 5.3.4 Healthcare
  • 5.3.5 Retail
  • 5.3.6 Consumer Electronics
  • 5.3.7 Agriculture
  • 5.3.8 Logistics and Supply Chain
  • 5.3.9 Smart Cities / Public Infrastructure
• 5.4 By Application
  • 5.4.1 Asset Tracking
  • 5.4.2 Smart Metering
  • 5.4.3 Industrial Automation
  • 5.4.4 Remote Monitoring and Control
  • 5.4.5 Wearables and Personal Devices
  • 5.4.6 Smart Home Devices
• 5.5 By Geography
  • 5.5.1 North America
    • 5.5.1.1 United States
    • 5.5.1.2 Canada
    • 5.5.1.3 Mexico
  • 5.5.2 South America
    • 5.5.2.1 Brazil
    • 5.5.2.2 Argentina
    • 5.5.2.3 Chile
    • 5.5.2.4 Rest of South America
  • 5.5.3 Europe
    • 5.5.3.1 Germany
    • 5.5.3.2 United Kingdom
    • 5.5.3.3 France
    • 5.5.3.4 Italy
    • 5.5.3.5 Spain
    • 5.5.3.6 Netherlands
    • 5.5.3.7 Russia
    • 5.5.3.8 Rest of Europe
  • 5.5.4 Asia Pacific
    • 5.5.4.1 China
    • 5.5.4.2 India
    • 5.5.4.3 Japan
    • 5.5.4.4 South Korea
    • 5.5.4.5 ASEAN
    • 5.5.4.6 Rest of Asia Pacific
  • 5.5.5 Middle East and Africa
    • 5.5.5.1 Middle East
      • 5.5.5.1.1 GCC (Saudi Arabia, UAE, Qatar, etc.)
      • 5.5.5.1.2 Turkey
      • 5.5.5.1.3 Rest of Middle East
    • 5.5.5.2 Africa
      • 5.5.5.2.1 South Africa
      • 5.5.5.2.2 Nigeria
      • 5.5.5.2.3 Kenya
      • 5.5.5.2.4 Rest of Africa

6 COMPETITIVE LANDSCAPE

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share Analysis
• 6.4 Company Profiles (includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share for key companies, Products and Services, and Recent Developments)
  • 6.4.1 Quectel Wireless Solutions Co., Ltd.
  • 6.4.2 Fibocom Wireless Inc.
  • 6.4.3 Telit IoT Solutions Holding Ltd.
  • 6.4.4 Semtech Corporation (incl. Sierra Wireless, Inc.)
  • 6.4.5 u-blox Holding AG
  • 6.4.6 Qualcomm Incorporated
  • 6.4.7 MediaTek Inc.
  • 6.4.8 CommSolid GmbH
  • 6.4.9 Sequans Communications SA
  • 6.4.10 ZTE Corporation
  • 6.4.11 Thales Group
  • 6.4.12 Texas Instruments Incorporated
  • 6.4.13 Nordic Semiconductor ASA
  • 6.4.14 Huawei Technologies Co. Ltd.
  • 6.4.15 Telefonaktiebolaget LM Ericsson
  • 6.4.16 Vodafone Group plc
  • 6.4.17 China Mobile Limited
  • 6.4.18 Verizon Communications Inc.
  • 6.4.19 AT&T Inc.
  • 6.4.20 Deutsche Telekom AG

7 MARKET OPPORTUNITIES AND FUTURE OUTLOOK

• 7.1 White-space and Unmet-need Assessment