According to a new research report published by The Insight Partners titled “Cellular IoT Market – Global Analysis and Forecast to 2027,” the global cellular IoT market is expected to reach over $18 billion in 2027, with a CAGR of 22.6 percent during the forecast period 2019-2027.
The cellular IoT market has witnessed steady growth in the last couple of years globally, with increasing adoptions across industries including consumer electronics, retail, healthcare, and industrial. Today, the majority of the cellular IoT connections are enabled by either 2G or 3G connectivity technologies, with growth coming from 4G connectivity given advantages of lower latency, more bandwidth and support for a larger number of devices. As 5G rolls out, this will continue to shift, with LTE-M and NB-IoT also taking off.
Some of the best use cases for cellular IoT and Industrial IoT (IIoT) include asset management, smart metering, fleet management, AR/VR, drones/UAV, traffic control, automotive, building automation & control, and grid automation among others, according to the new report.
“The two major factors that are driving the growth of IoT connectivity across the globe include increasing push for digitalization among industries and rising interest of mobile network operators to expand their business,” the report also says. “The ecosystem of cellular IoT is growing at an impressive pace with 3GPP standards, device manufacturers, chipset & module manufacturers, and network infrastructure providers.”
NimbeLink, a Minnesota-based provider of cellular solutions for IoT and asset-tracking markets, and ClearBlade, a Texas-based Industrial IoT platform and edge computing software company, today announced they have implemented secure and scalable IoT edge solutions aimed at simplifying the process required to track, monitor, and alert assets rapidly.
The companies have been working together and have implemented an out of the box solution capable of rapid configuration in any industry, including transportation and logistics – a ready to use solution with full function asset monitoring, giving customers choices of visualizations, custom rules, enterprise integrations, and 3rd party partner collaborations. While they were unable to name the end-clients for their combined solution, the companies did say they are in place in the rail, transportation and logistics sectors.
NimbeLink’s Asset Tracking Solutions are intelligent edge-to-enterprise offerings enabling organizations to track, protect and optimize assets, combining their award-winning asset tracking devices with highly configurable network connectivity, and software. This offering leverages ClearBlade’s platform for operations, management, and decision support, and together the companies deliver a robust, full-stack capability.
“Simplicity, convenience, and value economics are driving collective wins and providing value to our customers,” said Eric Simone, CEO, ClearBlade. “Our opportunities with NimbeLink and their best of breed asset tracking sensors are huge, given the response we’ve received and the success of our integrated solutions.
“With ClearBlade as our partner, we amplify our ability to provide a flexible, best of breed, end to end asset monitoring solution for clients seeking to improve situational awareness of their critical assets,” said David Houghton, GM, Asset Tracking Solutions for NimbeLink. “After successful integrations and implementations with Fortune 500 companies in the rail and aviation industries, we are now making our combined offering available to the broader markets, with specific emphasis on large enterprises.”
These discussions are critical to the success of the IoT as an industry, and to the growth of the companies operating within it. Plan now to continue these lines of strategic thinking at the IoT Evolution Expo, coming in February 2021 in Miami.
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