IoT market projected to reach $43.90 billion by 2032, driven by 5G deployment and high adoption.

From GlobeNewswire: 2025-06-05 10:00:00

The Cellular IoT Market is projected to reach USD 43.90 billion by 2032, growing at a CAGR of 25.4%. In the U.S., it was valued at USD 1.42 billion in 2023 and is expected to reach USD 9.20 billion by 2032, driven by early 5G deployment and high IoT adoption in automotive and energy sectors.

The report highlights key players in the market like Qualcomm, Sierra Wireless, and Cisco. Hardware dominates the market, with IoT hardware like modules and sensors in high demand. Software is expected to grow rapidly, meeting the need for IoT platforms and security solutions.

4G currently leads the market, widely used in meters and industrial monitoring. However, by 2032, 5G is expected to experience the fastest growth, catering to mission-critical use cases like self-driving cars and remote surgeries.

The energy sector dominates the market, with applications in smart grid monitoring and renewable energy optimization. Automotive & transportation is set to surge, driven by connected vehicles and logistics optimization. North America leads in market share, with Asia-Pacific growing rapidly due to urbanization and government initiatives.



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