Specialists of the analytical company Juniper Research conducted a study, the results of which allowed them to predict that by 2026 the volume of the global cellular Internet of Things (IoT) market will reach $ 61 billion.
For comparison: expected. that this year it will amount to $31 billion. According to analysts, the key to 95% growth over the next four years will be the introduction of 5G and LPWA technologies.
Analysts are confident that LPWA solutions such as NB-IoT and LTE-M will be the fastest growing cellular IoT technologies over the next four years. It is expected that low equipment and connection costs will stimulate the introduction of remote monitoring in key industries such as agriculture, smart cities and manufacturing. According to the forecast, the number of LPWA connections will grow by 1200% over the next four years.
The demand from enterprises for low-cost monitoring technologies provided by LPWA networks will increase as outdated 2G and 3G networks are disconnected in the coming years.
The forecast also says that by 2026, 5G IoT services will generate revenue of $ 9 billion per year, whereas last year this figure was equal to $ 800 million.
