Juniper Research, a research firm, conducted a study, the results of which allowed them to predict that by 2026 the global market for the cellular Internet of Things (IoT) will reach $61 billion. For comparison: expected. that this year it will be $31 billion. Analysts say the key to 95% growth over the next four years will be the adoption of 5G and LPWA technologies.
Analysts are confident that LPWA solutions such as NB-IoT and LTE-M will be the fastest growing cellular IoT technologies over the next four years. Low hardware and connectivity costs are expected to drive the adoption of remote monitoring in key industries such as agriculture, smart cities and manufacturing. According to the forecast, the number of LPWA connections over the next four years will grow by 1200%.
Enterprise demand for low-cost monitoring technologies enabled by LPWA networks will increase as legacy 2G and 3G networks are switched off in the coming years.
The forecast also says that by 2026, 5G IoT services will generate revenue of $9 billion per year, up from $800 million last year.
Source: ixbt
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