Juniper Research predicts the value of the global cellular IoT market will exceed $61 billion by 2026.
The value of the global cellular IoT market in 2022 is $31 billion. If the researchers’ projections are correct, it means a 95 percent value growth over just four years.
Growth will be driven by the rollout of 5G and cellular LPWA (Low-Power Wide-Area) technologies.
Charles Bowman, a co-author of the research, said:
“Operators must educate users on the suitability of LPWA as a replacement technology for legacy networks. However, many IoT networks cannot solely rely on LPWA technologies.
More comprehensive technologies, such as 5G, must underpin IoT network architectures and work in tandem with LPWA technologies to maximise the value of IoT services.”
In 2021, 5G IoT services generated around $800 million. By 2026, the researchers expect that to rocket to $9 billion.
Juniper Research recommends that operators focus on providing value-added services – like network slicing and edge computing – to maximise returns from growing 5G adoption.
Carrier billing is also highlighted as another potential vector for operators to recoup their 5G investments by charging a premium to facilitate high-quality video and games streaming.
A full copy of the report is available here (paywall)
(Photo by Frank Busch on Unsplash)
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This UrIoTNews article is syndicated fromIoTTechNews