IoT Connectivity Demand Surges as Supply Chains Recover and New Use Cases Emerge
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Global cellular IoT and LPWAN module market to grow at 19.3% CAGR from 2022-2026 as supply chain recovers and strategic mergers occur.
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Asia-Pacific leads in NB-IoT modules, while North America sees rapid LTE-M growth. LoRaWAN and Sigfox gain traction in western hemisphere.
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COVID-19 disrupted supply chains and caused device shortage and cost increases in 2020 and 2021.
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New use cases like healthcare, autonomous vehicles, wearables, manufacturing, and smart mobility driving IoT connectivity demand.
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Growth opportunities in 5G and LTE-M modules, LoRaWAN for smart metering, NB-IoT and satellites for agriculture, Sigfox for asset tracking.