Strategy Analytics/TechInsights: Industrials, Automotive and Utilities Remain the Most Important Verticals for IoT Connections in 2022-30

BOSTON–(BUSINESS WIRE)–Strategy Analytics has released its latest report on cellular IoT connections by vertical and by air interface (25, 3G, 4G and 5G), forecasting a double-digit compound annual growth rate (CAGR) of 14% over the period 2022 -2030

According to Waseem Haider, Principal Analyst, Enterprise IoT at Strategy Analytics and author of the report, “IoT Cellular Connection by Air Interface by Vertical” which provide projections to 2030 – Manufacturing and Automotive will be the largest verticals in terms of number of IoT connections during the forecast period 2022-30.

This latest update examines historical data up to 2013 and forecasts IoT connections by air interface technology (2G, 3G, 4G, 5G) and by verticals – automotive, healthcare, home (non-security) , Industry, Primary Processing, Point of Sale/Retail, Security, Transport, Utilities and others. Over the 2022-30 period, healthcare is the highest growing vertical with a CAGR of 23%, followed by the industrials and automotive verticals with a CAGR of 17% and 16% respectively.

Strategy Analytics estimates that the largest sectors will continue their growth trajectory, with IoT connections in industry representing 21% in 2030, rising from 17% in 2022 and automotive representing 18% in 2030, rising from 15% in 2022. during the forecast. period 2022-30. In 2022, industry is the top sector with 17% of total IoT connections, followed by automotive and utilities with 15% of connections, respectively.

Gina Luk, Director of Enterprise Research at Strategy Analytics, added that “By 2030, 5G IoT connections will be dominated by industrial and automotive applications, with 28% and 21% of 5G IoT connections respectively. Health and safety applications will be the next largest market in 2030, accounting for 20% of combined 5G IoT connections. The low latency benefits of 5G will enable IoT use cases where near-instantaneous communications are needed, such as trucking in transportation, autonomous driving, low latency in manufacturing, and areas like remote surgery in healthcare, where a surgeon could perform an operation. via robotics and virtual/augmented reality, even if not located in the operating room with the patient.

Source: Strategy Analytics, Inc.


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