**Josh Builta**, Senior Research Director – Applied Intelligence
At the end of 2022, cellular IoT connections in China is expected to approach 1.7 billion, representing about 73% of the global total.
The extensive reach of the country’s 5G networks will help drive the growth of IoT connections in the US from 150M in 2020 to over 225M in 2024.
The digital transformation of the manufacturing industry will help drive IoT connections in Germany to over 51M by 2024, making it the largest single market in Europe.
Increased use in diverse applications such as smart cities, agriculture, and automobiles will drive cellular IoT applications in Japan to over 54M in 2024.
Low Power Networks - Increased availability of low-power cellular networks such LTE-M and NB-IoT will enable a wide range of remote devices with minimal power capacity to be connected and monitored in real-time.
Government Support - Government bodies have reinforced the growth of IoT both directly and indirectly through funding as well as regulations, and initiatives in areas such as smart cities, healthcare, and energy conservation.
Hardware shortages - The global chip shortage has impacted the IoT market and availability of certain devices. Long lead times of sensors and other key components has led to delays in some IoT deployments. While this situation is improving, there is likely to continue be impact in some areas of the market through 2023.
4G and 5G Private Networks - Private cellular networks provide benefits to enterprises with multiple assets, personnel and operations in confined areas such as mines, seaports, power plants, and factories. These networks provide more reliability, better security, higher data rates, and broader coverage at a lower cost than other legacy communication standards (e.g., Wi-Fi) can.
The Connected Automobile - The next evolution of connected cars will arrive in 2022. 5G technology will be a differentiator for OEMs as the technology will enable key features such as infotainment and autonomous driving.
Source: Omdia
Source Omdia
Joshua Builta Senior Research Director – Applied Intelligence Joshua.builta@omdia.com