Global Massive IoT
Market Report
2024
The global Massive IoT market size is USD 72518.6 million in 2024. Technological advancement is expected to boost sales to USD 312409.5966 million by 2031, with a Compound Annual Growth Rate (CAGR) of 23.20% from 2024 to 2031.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
PDF Access: Password protected PDF file, Excel File Access: Quantitative data, PPT Report Access: For the presentation purpose, Cloud Access: Secure Company Account Access.
Share your contact details to receive free updated sample copy/pages of the recently published edition of Massive IoT Market Report 2024.
According to Cognitive Market Research, the global Massive IoT market size will be USD 72518.6 million in 2024. It will expand at a compound annual growth rate (CAGR) of 23.20% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Market Size | 121212 |
Country Market Size | 121212 |
North Americ Market Size | 121212 |
Europe Market Size | 121212 |
Asia Pacific Market Size | 121212 |
South America Market Size | 121212 |
Middle East and Africa Market Size | 121212 |
Market Drivers:
| |
Market Restrains:
| |
Market Trends:
|
Market Split by Offering |
|
Market Split by Connectivity |
|
Market Split by Application |
|
Market Split by Organization Size |
|
Market Split by Industry Vertical |
|
List of Competitors |
|
Regional Analysis |
|
Country Analysis |
|
Key Qualitative Information Covered |
|
Report scope is customizable as we have a huge database of Massive IoT industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Massive IoT Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The term "massive IoT" describes the widespread use of inexpensive, low-power Internet of Things (IoT) devices that are intended to send modest amounts of data over extended periods. To obtain wide coverage, these devices are frequently deployed in large quantities and connected via networks such as LTE-M, NB-IoT, or LPWAN (Low Power Wide Area Networks). The tremendous expansion of the IoT market is being driven by the growing acceptance of NB-IoT (Narrowband-IoT) and LTE-M technologies as well as the quick development of 5G technology. Furthermore, the enormous IoT industry is expanding due to the rising demand for industrial automation.
In February 2023, the Qualcomm Aware Platform was introduced by Qualcomm Technologies, Inc. to enable developers and businesses to leverage data insights and real-time information to expedite their digital transformation initiatives. Source: https://www.qualcomm.com/news/releases/2023/02/qualcomm-expands-offering-to-simplify-and-accelerate-iot-across-
The enormous IoT market is expanding because of the rising trends of NB-IoT and LTE-M, two cellular IoT technologies meant to give IoT devices low-power, wide-area (LPWA) connectivity. Additionally, telecom companies worldwide are growing NB-IoT networks to accommodate the increasing demand for LPWA connectivity. For instance, 140 operators have developed and implemented NB-IoT, or possibly the rival LTE-M network, in 64 countries, according to the Global Mobile Suppliers Association (GSA) in February 2022. For companies wishing to deploy Massive IoT solutions, this expansion makes NB-IoT more accessible. Globally, numerous government agencies and telecommunications companies are implementing diverse approaches to create NB-IoT solutions in anticipation of a significant IoT revolution. Source: https://gsacom.com/paper/nb-iot-lte-m-february-2022-global-ecosystem/
The enormous IoT industry is expected to be fueled by the rapid development of 5G technology, which will make it possible to create new IoT applications and services that were not possible with previous generations of wireless technology. Additionally, the quicker data transmission speeds and lower latency of 5G technology will enable IoT devices to analyze and transmit enormous volumes of data in real time. Thus, new solutions in areas like driverless automobiles, smart cities, and remote healthcare will be possible to design. The use of 5G technology is also anticipated to increase in tandem with the growing demand for autonomous vehicles. This is because 5G technology allows autonomous vehicles to communicate with infrastructure, such as traffic signals and signs, facilitating real-time traffic management and enhanced safety.
Cyberattacks and data breaches are more likely due to the vast scope of IoT implementations. Because IoT devices frequently have low processing power and security features, hackers can exploit them. Significant barriers exist, especially in regulated sectors like healthcare and banking, due to worries about data privacy and the misuse of obtained data. Furthermore, a vast range of platforms, devices, and communication protocols are a part of the Massive IoT ecosystem. Interoperability problems, or the inability of various systems or devices to communicate with one another efficiently, can result from a lack of standardization. Massive IoT solution adoption may be slowed down by this fragmentation.
The massive IoT market has been significantly impacted by the COVID-19 epidemic, which has affected both the potential and problems faced by this quickly expanding industry. Although the pandemic sped up digital transformation in many industries, it also caused hiccups that hindered the uptake and implementation of massively connected devices. IoT adoption was among the many industries compelled by the pandemic to pick up speed with digital technologies. As companies looked to sustain operations with minimal human interaction, the necessity for automation, real-time data collecting, and remote monitoring became more and more critical. This hastened the massive IoT adoption in industries including manufacturing, logistics, and healthcare. On the other hand, COVID-19's economic crisis resulted in budget cuts and a delay in the purchase of new technologies.
We have various report editions of Massive IoT Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.
The massive IoT market is highly competitive, with numerous players ranging from large technology companies to specialized IoT providers. The competitive landscape is shaped by factors such as technological innovation, network infrastructure, partnerships, and the ability to scale solutions across industries and regions.
September 2023: Leading mesh connection supplier Wirepas and worldwide pioneer in wireless technology Laird connection announced that they have partnered to develop hardware and software solutions for connecting Bluetooth Low Energy (LE) modules for large-scale Internet of Things deployments. (Source: https://www.wirepas.com/news-and-more/laird-connectivity-and-wirepas-enter-partnership-to-broaden-massive-iot) March 2023: The world's leading long-range connectivity and network management companies, LORIOT, and UnaBiz, the massive IoT Service Provider & Integrator, teamed together to empower customers to deploy massive IoT solutions and give them the option to select the multiple protocols that best fit their use case. (Source: https://www.loriot.io/news/2023-03-22-loriot-unabiz.html)
Top Companies Market Share in Massive IoT Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America dominated the market in 2024. It accounted for around 40% of the global revenue. The ongoing digital transformation of numerous sectors, the growing need for smart city solutions, and the development of 5G technology are all expected to propel the massive IoT market in North America in the upcoming years. Massive IoT application growth is expected to be supported by the region's strength in technological innovation and a supportive regulatory framework.
Asia Pacific stands out as the fastest-growing region in the Massive IoT market. The market of the Asia Pacific region is propelled by rising government initiatives, a growing industrial sector, and rising urbanization and smart city projects. Moreover, the advancements in connectivity technology drive market growth.
The current report Scope analyzes Massive IoT Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
According to Cognitive Market Research, the global Massive IoT market size was estimated at USD 72518.6 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 29007.44 million in 2024 and will grow at a compound annual growth rate (CAGR) of 21.4% from 2024 to 2031.
According to Cognitive Market Research, the global Massive IoT market size was estimated at USD 72518.6 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 21755.58 million in 2024 and will grow at a compound annual growth rate (CAGR) of 21.7% from 2024 to 2031.
According to Cognitive Market Research, the global Massive IoT market size was estimated at USD 72518.6 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 16679.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 25.2% from 2024 to 2031.
According to Cognitive Market Research, the global Massive IoT market size was estimated at USD 72518.6 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 3625.93 million in 2024 and will grow at a compound annual growth rate (CAGR) of 22.6% from 2024 to 2031. .
According to Cognitive Market Research, the global Massive IoT market size was estimated at USD 72518.6 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 1450.37 million in 2024 and will grow at a compound annual growth rate (CAGR) of 22.9% from 2024 to 2031..
Global Massive IoT Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Massive IoT Industry growth. Massive IoT market has been segmented with the help of its Offering, Connectivity Application, and others. Massive IoT market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, Hardware stands out as the dominant category over the projected period. The cost of IoT hardware has decreased as a result of improvements in semiconductor technologies and manufacturing techniques. Because of the lower cost and increased energy and performance efficiency, IoT hardware is becoming more widely available, which is encouraging adoption and, in turn, increasing revenue.
Services emerge as the fastest-growing category in the Massive IoT market. The market's services segment is propelled by the need for increased operational effectiveness, lower costs, and higher safety regulations.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Massive IoT Industry. Request a Free Sample PDF!
According to Cognitive Market Research, the dominant category is LPWAN. The LPWAN segment is growing due to its wide applications including smart cities, agriculture, industrial IoT and others. Applications for smart cities, such as intelligent lighting, trash management, parking control, and environmental monitoring, frequently make use of LPWAN technologies. The success of smart city projects depends on the ability to link a large number of devices over a big area with low power consumption.
The fastest-growing category in the Massive IoT market is 5G. The segment expansion is attributable to the increasing investment in 5G technology across the globe. The ability to connect more devices simultaneously without compromising performance will drive the deployment of large-scale IoT networks, leading to increased demand for IoT devices, sensors, and related infrastructure, thus boosting revenue.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Massive IoT market report 2024 Edition by contacting our team.
According to Cognitive Market Research, the dominant category is Asset Tracking And Fleet Management. To avoid loss, maximize usage, and make educated decisions, businesses look for up-to-date information about their assets. Asset tracking becomes possible with the use of Internet of Things technologies like RFID and GPS. Asset tracking systems also lower operating costs by increasing asset usage, decreasing downtime, and simplifying maintenance procedures.
The fastest-growing category in the Massive IoT market is Smart Buildings. IoT technology is used by smart buildings to better monitor and control energy use, which lowers utility costs significantly. Energy management programs, HVAC systems, and smart lighting all help to reduce energy costs and increase efficiency.
According to Cognitive Market Research, the dominant category is Large Enterprises. IoT is used by large businesses to automate procedures, improve operations, and save expenses. Improved efficiency is the result of real-time monitoring, predictive maintenance, and effective resource management made possible by IoT systems.
The fastest-growing category in the Massive IoT market is Small and Medium Sized Enterprises. IoT is becoming more affordable for SMEs thanks to the decrease in the cost of sensors, devices, and connections. SMEs can now adopt technologies that were previously exclusive to larger corporations because of affordable IoT solutions.
According to Cognitive Market Research, the dominant category is Retail and E-Commerce. The growth of omnichannel retailing—where customers can easily shop across many channels, including online, in-store, and mobile—is largely due to the Internet of Things. By facilitating the integration of many channels, IoT technologies offer a trustworthy and customized purchasing experience.
The fastest-growing category in the Massive IoT market is Transportation and Logistics. IoT enables real-time monitoring and automation of various logistics processes, leading to increased efficiency, reduced operational costs, and faster delivery times, thereby driving segment expansion.
Senior Research Analyst at Cognitive Market Research
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
I am committed to continuous learning and staying at the forefront of emerging trends in research and analytics. Regularly engaging in professional development opportunities, including workshops and conferences, keeps my skill set sharp and up-to-date. I spearheaded research initiatives focused on market trends and competitive landscapes. I have a proven track record of conducting thorough analyses, distilling key insights, and presenting findings in a way that resonates with diverse stakeholders. Through collaboration with cross-functional teams, I played a pivotal role in shaping business strategies rooted in robust research.
Conclusion
Disclaimer:
Offering | Hardware, Networking Gateways, Connectivity Modules, Sensors, Platform, Services, Professional Services, Managed Services |
Connectivity | LPWAN, 5G, Others |
Application | Asset Tracking And Fleet Management, Industrial IoT, Smart Buildings, Smart Retail, Smart Cities, Smart Healthcare, Other |
Organization Size | Large Enterprises, Small and Medium Sized Enterprises |
Industry Vertical | Retail and E-Commerce, Energy and Utility, Healthcare, Transportation and Logistics, IT and Telecom, Manufacturing, Travel & Hospitality, Others |
List of Competitors | Huawei Technologies Co., Ltd., Intel Corporation, Google LLC (Alphabet), ScienceSoft USA Corporation, Cisco Systems, Inc., Qualcomm Technologies Inc., Ericsson, Verizon Communications Inc., Microsoft Corporation, SAP SE, IBM Corporation |
This chapter will help you gain GLOBAL Market Analysis of Massive IoT. Further deep in this chapter, you will be able to review Global Massive IoT Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Purchase Add-Ons to Customize the Report Edition and get further granular data level data about the North America market. Add-On Cost: Request before placing the order, Respective Pricing will be informed after sending the inquiry
Qualitative Analysis for the North America Market: North America Massive IoT Market Trends North America Massive IoT Technological Road Map North America Massive IoT Market Drivers North America Massive IoT Market Restraints North America Massive IoT Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
You can purchase only the Executive Summary Asia Pacific Market (2019 vs 2024 vs 2031)
Chapter 5 South America Market Analysis
You can purchase only the Executive Summary South America Market (2019 vs 2024 vs 2031)
Chapter 6 Middle East and Africa Market Analysis
You can purchase only the Executive Summary Middle East and Africa Market (2019 vs 2024 vs 2031)
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Offering Analysis 2019 -2031, will provide market size split by Offering. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Offering Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Connectivity Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by Application Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 13 Market Split by Organization Size Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 14 Market Split by Industry Vertical Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Massive IoT market
Chapter 15 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Hardware have a significant impact on Massive IoT market? |
What are the key factors affecting the Hardware and Networking Gateways of Massive IoT Market? |
What is the CAGR/Growth Rate of LPWAN during the forecast period? |
By type, which segment accounted for largest share of the global Massive IoT Market? |
Which region is expected to dominate the global Massive IoT Market within the forecast period? |
Segmentation Level Customization |
|
Global level Data Customization |
|
Region level Data Customization |
|
Country level Data Customization |
|
Company Level |
|
Additional Data Analysis |
|
Additional Qualitative Data |
|
Additional Quantitative Data |
|
Service Level Customization |
|
Report Format Alteration |
|
Published Report Editions
are Just a Tip of an Iceberg
Access the Complete Database of
Massive IoT Market
Request Sample