The Asia Pacific Cellular IoT Market would witness market growth of 25.7% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Cellular IoT Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2,755.6 million by 2031. The Japan market is registering a CAGR of 25% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 26.5% during (2024 - 2031).
The healthcare industry benefits greatly from cellular IoT in applications such as remote patient monitoring, telemedicine, and medical asset tracking. Wearable devices and connected medical equipment powered by cellular IoT allow healthcare providers to monitor patient health in real time, even when patients are not in the hospital. This is particularly valuable in managing chronic conditions and elderly care, where continuous monitoring is crucial.
This is transforming retail by improving inventory management, enabling smart shelves, and enhancing customer experiences through connected devices. For instance, RFID tags and beacons connected through cellular IoT can provide real-time information about stock levels, locations, and product movement within the supply chain. This allows retailers to optimize inventory, prevent stockouts, and ensure timely deliveries.
In China, the smart home industry has been growing at an impressive rate of nearly 20 percent annually from 2016 to 2021, with its market value skyrocketing from 260 billion yuan ($36.25 billion) to 580 billion yuan. This trend is expected to continue as Zhejiang province’s smart home sector is projected to reach 500 billion yuan by 2025. This rapid expansion directly impacts this market, as smart homes increasingly rely on IoT devices connected through cellular networks for automation, security, and energy management. Also, in India, the growth of urbanization and smart city initiatives, as part of the Smart Cities Mission, is reshaping the demand for cellular IoT. With India’s urban system housing 11% of the world’s urban population and ongoing efforts to improve the quality of life in 100 smart cities, robust, interconnected solutions are essential. This is vital in enabling smart city infrastructure and supporting areas like traffic management, energy consumption monitoring, public safety, and healthcare services. In conclusion, these factors in China and India present significant opportunities for growth in this market.
Free Valuable Insights: The Global Cellular IoT Market is Predict to reach USD 32.56 Billion by 2031, at a CAGR of 25.1%
Based on End Use, the market is segmented into Automotive & Transportation, Healthcare, Agriculture, Consumer Electronics, Energy, Smart Cities, Environment Monitoring, Retail, and Other End Use. Based on Component, the market is segmented into Hardware and Software. Based on Technology, the market is segmented into 4G, 5G, 3G, and 2G. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
By End Use
By Component
By Technology
By Country
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