How Big Is the Cellular IoT Market | Industry Trends & Forecast 2025

Q: What is the current size and forecast of the cellular IoT market?

The market was valued at USD 6.3 billion in 2024 and is expected to reach USD 31.4 billion by 2031 at a CAGR of 26.1%.

Q: Which segments are growing the fastest?

Utilities, logistics, healthcare, and smart cities are seeing fastest adoption.

Q: What are key growth factors?

LPWAN deployments, smart infrastructure, telecom innovation, and AI-driven monitoring.

Q: What are the challenges?

Device interoperability, data security, and complex deployments across geographies.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

Code: MTA4767

Publication Date: Jul 2025

How big is the Cellular IoT Market?

According to 6Wresearch internal database and industry insights, the Global Cellular IoT market was valued at approximately USD 6.3 billion in 2024 and is projected to reach USD 31.4 billion by 2031, growing at a CAGR of 26.1% during the forecast period.

This growth is fueled by the expansion of LPWAN technologies like NB-IoT and LTE-M, smart device proliferation, and adoption across utilities, automotive, healthcare, and logistics.

Key Growth Drivers of the Cellular IoT Market

Proliferation of smart meters, asset trackers, and industrial monitoring devices
Expanding 4G/5G coverage and integration with edge AI and analytics
Strong government and enterprise focus on smart city and Industry 4.0 initiatives
Telecom-led IoT monetization and turnkey connectivity solutions
Advances in low-power cellular modules and secure data transmission

Cellular IoT Market Trends

Cellular IoT market is witnessing strong momentum in low-power wide-area connectivity with NB-IoT and LTE-M networks deployed globally. Cellular IoT has enterprise-level applications in the automotive sector such as in smart-factories and in fleet management. The combination with cloud platforms and 5G slicing is boosting real-time observation and self-operating use cases. The smart utility projects are being scaled in China, Europe and in India, further increasing the demand. Cross-industry adoption is rising as companies move toward intelligent asset tracking, predictive maintenance, and connected infrastructure.

Emerging Developments in the Cellular IoT Market

Emerging developments include the introduction of RedCap (reduced-capability 5G) for lightweight industrial and wearable applications. Satellite-cellular hybrid modules are being piloted for global connectivity. AI-based analytics are being embedded at the edge for predictive diagnostics. Telecoms are offering managed IoT platforms with security, device onboarding, and lifecycle management. Integration with blockchain for secure, tamper-proof data transmission in supply chains is also being explored.