Dublin, May 27, 2019 (GLOBE NEWSWIRE) -- The "LTE IoT Market by Technology (NB-IoT and LTE-M), Service (Professional Services and Managed Services), Industry (Manufacturing, Energy and Utilities, Transportation and Logistics, Healthcare, and Agriculture), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global LTE IoT market is expected to grow from USD 789.5 million in 2018 to USD 2,759.2 million by 2023, at a Compound Annual Growth Rate (CAGR) of 28.4% during the forecast period.
LTE IoT technologies are designed for managing multiple IoT applications in various industries, such as manufacturing, energy and utilities, transportation and logistics, and agriculture. The evolution of IoT technology has enabled enterprises to manage operations in a much better way. It has also simplified the complexities at the production level to help enterprises enhance their efficiency. It has driven the adoption of IoT technologies in various industries. Similarly, the unprecedented high adoption rate of LTE has given rise to new business opportunities not only for mobile operators, but also for device manufacturers now highly encouraged to connect their devices to the internet via LTE.
LTE's LPWAN technology interconnects low-bandwidth, battery-powered devices with low bit rates over long ranges. The LPWAN technologies are divided into groups: cellular-based technologies and non-cellular based technologies. The cellular-based technologies can be provided only by mobile network operators having a mobile spectrum license, such as AT&T and Verizon in the US.
As such operators utilize existing facilities for mobile phones, they can easily offer a nationwide network and secure stability and reliability in communications. While non-cellular technologies use spectrum that does not require a spectrum license, and even operators that have not been engaged in the telecommunications business can provide LPWANs. It is also possible for such operators to establish a network on their own by deploying base stations. The cellular technologies include LTE-M and Narrowband-IoT (NB-IoT), while noncellular technologies include LoRaWAN, Sigfox, and NB-Fi.
The research report also tracks the strategic alliances and acquisitions among key players in the global LTE IoT market. The market is expected to gain traction, and this is evident from new product launches and partnership strategies adopted by major players, such as Ericsson, Vodafone Limited (Vodafone), Sierra Wireless, Telstra Corporation Limited (Telstra), T-Mobile USA Inc (T-Mobile), Orange, Telus, Sequans, PureSoftware, Link Labs, Inc (Link Labs), Telensa, MediaTek, Inc (MediaTek), Actility, Netnumber, Inc (Netnumber), and Athonet srl (Athonet).
The players are launching new LTE IoT solutions and service offerings to cater to the needs of their diverse commercial clientele spread across the globe.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the LTE IoT Market
4.2 Market Top 3 Industries and Regions
4.3 Market By Region
4.4 Market Investment Scenario
5 Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Growth in the Number of Connected Devices
5.1.1.2 Need for Unique and Defined Network Qualities
5.1.1.3 Rise in Need for Long-Range Connectivity Between IoT Applications
5.1.2 Restraints
5.1.2.1 Operational Downtime Due to Upgradation of Network Infrastructure
5.1.3 Opportunities
5.1.3.1 Rise in Demand of Secured Connectivity for IoT Applications
5.1.4 Challenges
5.1.4.1 Additional Requirements for Deployment of LTE IoT Technology
5.1.4.2 High Initial Cost of Deployment
5.2 Use Cases
5.2.1 China Mobile
5.2.2 Telefonica
5.2.3 T-Mobile
5.2.4 Cosmote
5.2.5 Telia
6 LTE IoT Market, By Technology
6.1 Introduction
6.2 LTE-M
6.2.1 Growing Need for Managing High-Level IoT Applications in Real Time to Drive the Growth of LTE-M Technology
6.3 NB-IoT
6.3.1 Need for Managing Higher Number of Applications at A Lower Cost to Drive the Growth of NB-IoT Technology
7 LTE IoT Market, By Service
7.1 Introduction
7.2 Professional Services
7.2.1 Increasing Demand for LTE IoT Technologies Expected to Fuel the Growth of Professional Services
7.3 Managed Services
7.3.1 Need for Expertise During Integration of Two Different Technologies on the Same Platform to Generate the Demand for Managed Services
8 LTE IoT Market, By Industry
8.1 Introduction
8.2 Manufacturing
8.2.1 Asset Tracking and Management
8.2.1.1 Challenges Relate to Asset Management to Fuel the Adoption of LTE IoT Technology
8.2.2 Predictive Maintenance
8.2.2.1 Increasing Maintenance Cost Leading to Adoption of Predictive Maintenance
8.2.3 Inventory Management
8.2.3.1 Growing Need for Smart Inventory Management to Drive the Growth of LTE IoT Market
8.2.4 Emergency and Incident Management
8.2.4.1 Rising Concerns About Public Safety Driving the Growth of LTE IoT Technologies
8.2.5 Others
8.3 Energy and Utilities
8.3.1 Oil and Gas Management
8.3.1.1 Rising Concerns Related to Real-Time Application Management to Drive the Growth of LTE IoT Technologies
8.3.2 Electricity Grid Management
8.3.2.1 Need for Smart Application to Reduce Losses to Drive the Demand for Electricity Grid Management
8.3.3 Water and Wastewater Management
8.3.3.1 Increasing Adoption of Smart Water Metering Applications to Drive the Growth of LTE IoT Technologies
8.4 Transportation and Logistics
8.4.1 Remote Monitoring
8.4.1.1 Need for Real-Time Information to Monitor Vehicle and Material Condition Driving the Growth of LTE IoT Technologies
8.4.2 Security and Surveillance
8.4.2.1 Increasing Concerns About Safety to Drive the Adoption of IoT LTE Technology for Security and Surveillance
8.4.3 Smart Parking
8.4.3.1 Increasing Number of Connected Vehicles to Drive the Growth of Smart Parking Application
8.4.4 Supply Chain Management
8.4.4.1 Growing Adoption of RFID and Tracking Devices to Drive the Growth of LTE IoT for Supply Chain Management
8.5 Healthcare
8.5.1 Increasing Adoption of Monitoring Devices to Fuel the Demand for LTE IoT Technologies in Healthcare Industry
8.6 Agriculture
8.6.1 Increasing Adoption on Sensors and IoT Devices in Agriculture to Drive the Demand for LTE IoT Technologies
9 LTE IoT Market, By Region
10 Competitive Landscape
10.1 Overview
10.2 Market Ranking
10.3 Competitive Scenario
10.3.1 New Product Launches and Enhancements
10.3.2 Partnerships, Collaborations, and Agreements
11 Company Profiles
11.1 Ericsson
11.2 Vodafone Group
11.3 Telstra
11.4 Sierra Wireless
11.5 Puresoftware
11.6 Sequans Communications
11.7 Orange
11.8 T Mobile
11.9 Telus
11.10 Mediatek
11.11 Athonet
11.12 Netnumber
11.13 Telensa
11.14 Actility
11.15 Link Labs
For more information about this report visit https://www.researchandmarkets.com/r/va6cll
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