5G growth demonstrates cellular IoT market bifurcation
The total number of cellular IoT connections (including NB-IoT and LTE-M) will grow from 1.5 billion at the end of 2022 to 6.1 billion at the end of 2032. However, by 2032 the composition of the market will be rather different from today, being highly dominated by 5G.
Number of connected IoT devices growing 16% to 16.0 billion globally – Wi-Fi, Bluetooth, and Cellular driving the marketIoT Analytics today published its State of the IoT-Spring 2023 report on the current state of the Internet of Things including market update and forecast, latest trends, and more.