Technologies are matching the frequencies of a large number of sectors over the years. The telecommunication sector is no stranger to this development. Technologies like machine learning, artificial intelligence (AI), and the Internet-of-Things (IoT) have gained considerable momentum over the years. IoT has garnered tremendous popularity. Thus, the overwhelming fame of IoT will bring immense growth for the cellular IoT market during the forecast period of 2020-2030.
The age of the Internet-of-Things has completely transformed the overall fabric of varied sectors and businesses. The power of connectivity has reached the shores of various electrical appliances and industries too. The telecommunication industry is experiencing an avant-garde moment through these technologies. The cellular IoT market will benefit from this period extensively.
The researchers at Transparency Market Research (TMR) have predicted a promising future for the cellular IoT market on the back of the ongoing developments and upcoming technologies across the telecommunication industry. The advent of 5G technology will further accelerate the growth of the cellular IoT market to a great extent.
The utilization of cellular IoT across a large number of applications such as agriculture, automotive, infrastructure development, environment monitoring, and others may bring phenomenal growth prospects.
With great technologies come great myths. Some myths often play a large role in derailing the growth of many businesses and sectors. The cellular IoT market is no exception. Many myths are surrounded around the cellular IoT market that makes it vulnerable to negative growth. Here are some prominent myths that hamper the growth of the cellular IoT market to a certain extent.
This myth was a fact many years ago. With improvements in technology, a lot has changed across the cellular IoT market. With new protocols like NB-IoT and LTE-M, technology has changed considerably. Brilliant engineering and intense research and development activities have led to great hardware and software engineering developments that ensure a longer battery life.
Certain facts are not considered while concluding that cellular IoT is not affordable. The utilization of public cellular network infrastructure eliminated the need for network installation, maintenance, and ownership. All these expenses are borne by the wireless carrier. Thus, cellular IoT reduces the burden of operational costs, eventually proving to be more affordable.
As mentioned earlier, the advent of LTE-M and NB-IoT have transformed the impossible into the possible. These new protocols have been specially designed for low-bandwidth IoT applications. After some amount of data transfer, the sensors automatically switch to sleep mode, thus minimizing battery strain. Hence, cellular technology is not only compatible with low-bandwidth technology but also effective to a great extent.
During the nascent years of cellular IoT technology, application across real-world technologies seemed a distant dream but with technological advancements and modern upgrades, the role of cellular IoT has increased substantially. The cost-effectiveness and result-oriented mechanism are inviting profitable growth for the cellular IoT market. Applications like industrial equipment monitoring, cold-chain monitoring, and others are using cellular technology.
The growth of the cellular IoT market is estimated to grow immensely in the near future. The emergence of novel methods and techniques may prove fruitful for the growth of the cellular IoT market. Furthermore, the heightening influence of digitization and automation across the globe may also prove to be a growth booster for the cellular IoT market.
About the Author:
Revati Mahajan is a content writer working for Transparency Market Research. She specializes in writing editorials, blogs, articles, press releases, and other forms of writing that the market research world expects from one. She strongly believes to write in a simple, elegant, yet classy style.