Berg Insight has released its annual update on the largest cellular Internet of Things (IoT) deployments worldwide. The comprehensive database highlights the significant expansion and diversification of IoT projects across various industries. This report not only showcases the current landscape but also provides valuable forecasts for future growth in the cellular IoT sector.
Berg Insight’s latest findings indicate a substantial increase in the number of active cellular IoT subscriptions compared to previous years. The 2023 data reflects a significant portion of the global market, underscoring the rapid adoption and integration of IoT technologies across multiple verticals.
Which Sectors Lead the IoT Deployments?
Transport and logistics dominate the number of projects on the top-500 list, reflecting the sector’s need for real-time tracking and efficient management solutions. Utilities and retail follow closely, each leveraging IoT to enhance operational efficiency and customer service.
How Significant Are Automotive Deployments?
OEM automotive stands out as the largest vertical in terms of active subscriptions, accounting for 230 million units. This sector leads over utilities and transport & logistics, highlighting the integral role of IoT in modern automotive solutions.
What Are the Forecasts for Future Growth?
The report projects that by 2028, the number of cellular IoT units will grow to 1.05 billion, with a compound annual growth rate of 10.7 percent. This growth is driven by ongoing advancements and the increasing adoption of IoT technologies across various industries.
Berg Insight’s analysis provides a clear view of the current and future state of cellular IoT deployments. The significant number of active subscriptions and the projected growth rate indicate a robust and expanding market. Sectors like automotive, utilities, and transport & logistics are at the forefront, driving the adoption of IoT technologies to enhance efficiency and connectivity.
“The projects included in the top-500 list together account for approximately 632 million active cellular IoT subscriptions,”
said Rickard Andersson, Principal Analyst at Berg Insight. He further emphasized the substantial impact of OEM automotive in the IoT landscape, highlighting its leadership in active subscriptions.
The detailed breakdown of projects and their geographical distribution offers valuable insights for stakeholders looking to invest or expand in the IoT sector. Understanding the dominant verticals and the growth trends can aid in strategic planning and resource allocation.
Berg Insight’s latest report underscores the pervasive influence of IoT across diverse industries, particularly in automotive and logistics. The projected growth signals continued investment and innovation in cellular IoT technologies. For businesses and investors, these trends highlight the importance of integrating IoT solutions to stay competitive and meet evolving market demands.
