The automotive sector is predicted to see the largest growth in IoT connections
Global cellular IoT connections is expected to increase to 520 million to 2.4 billion by 2025, according to Strategy Analytics.
Strategy Analytics also predicts the automotive, security and utilities marker will account for 46 per cent of IoT connections.
The automotive sector will see rapid growth to become the largest consumer of cellular IoT connections in eight years time, the firm predicts.
Almost one billion IoT connections will be accounted for in the Asia-Pacific. Making the region the largest across the forecast period. Followed by North America and Western Europe. All three together accounting for 75 per cent of global IoT connections.
Strategy Analytics IoT research executive director of enterprise Andrew Brown said: “With the industry focusing on the path to 5G and low power 3GPP offerings, such as LTE Cat M1 and NB-IoT, coupled with a variety of established connectivity platforms, there are lots of choices for cellular connectivity in the IoT and the outlook has never been brighter.”
IoT research senior analyst Matt Wilkins added: “The growth in cellular connections underlines the importance of cellular networks in IoT, with networks not just being used to facilitate simple connections, but increasingly supporting rich data that will enable new and compelling use cases”.