New research argues APAC building momentum in cellular IoT market
The growth in cellular IoT connections is being further driven by the APAC (Asia-Pacific) market as well as the traditional bases of western Europe and North America, according to a new study from Beecham Research.
The report, the research firm’s latest global assessment of the cellular IoT connectivity market, argues that the number of cellular IoT connections, from 2G to 5G, will approach 1.22 billion in 2021, up from 261 million at the end of last year.
The study also shows strong growth in the Arab states and Sub-Saharan Africa regions. Naturally, given the economic outlook both regions’ priorities are different; for the former, it represents developing smart city, energy, and environmental IoT applications, and for the latter, remote payments alongside healthcare, water systems and agriculture.
For countries at the lower end of the scale, such as India, Indonesia and Vietnam, the IoT vision is “starting to take shape”, with the analysts arguing that trends are diverse among regions, as well as countries in the same region.
Despite this Robin Duke-Woolley, CEO at Beecham Research, argues a more realistic approach than the ‘over-optimistic predictions’ made by some in the industry.
“What is very interesting is the level of granularity across regions in terms of the different applications fuelling different markets,” he said. “For example, Mexico is driven by transport including connected cars and with strong attention on consumer technology, while in Argentina the focus is on smart city projects and applications such as fleet management.
“What is important for the IoT market at this stage of evolution is that companies can make informed investment decisions based on accurate market information and achievable growth targets and timescales,” added Duke-Woolley. “We are already seeing some IoT startups close after getting carried away by the hype and large organisations are now looking more carefully at their IoT business plans, so we need to inject a degree of realism.”
Interested in hearing industry leaders discuss subjects like this and sharing their IoT use-cases? Attend the IoT Tech Expo World Series events with upcoming shows in Silicon Valley, London and Amsterdam to learn more.
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