The Europe Cellular IoT Market would witness market growth of 24.4% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe Cellular IoT Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2,435.6 million by 2031. The UK market is exhibiting a CAGR of 23.4% during (2024 - 2031). Additionally, The France market would experience a CAGR of 25.3% during (2024 - 2031).
Cellular IoT finds extensive applications across various industries, helping organizations improve operational efficiency, safety, and convenience. This is a cornerstone of smart city development, facilitating the connection of infrastructure and services such as traffic management systems, smart lighting, waste management, and environmental monitoring.
In the automotive sector, cellular IoT is vital in advancing connected vehicles and enabling features such as autonomous driving, vehicle-to-everything (V2X) communication, real-time traffic updates, and predictive maintenance. By connecting vehicles to cellular networks, manufacturers and fleet operators can enhance safety, reduce downtime, and improve user experiences.
The adoption of IoT devices across European enterprises reflects a significant shift in how businesses integrate technology to improve operational efficiency, security, and connectivity. According to Eurostat, in 2021, 29% of EU enterprises utilized IoT devices, with a predominant focus on securing premises. However, a notable disparity exists in adoption rates between large and small enterprises. While 48% of large enterprises employed IoT systems, only 26% of small enterprises did the same. This divergence highlights the varying levels of technological maturity across different business sizes and points to an opportunity for growth within this market in Europe. Moreover, the IoT adoption rate among enterprises with 10 or more employees is 29%. This figure indicates the substantial potential for cellular IoT to expand further across the European market as businesses of varying sizes seek to capitalize on IoT-enabled automation, remote monitoring, and predictive maintenance capabilities. In conclusion, the rising adoption of IoT devices across European enterprises—particularly among large enterprises—will positively influence this market.
Free Valuable Insights: The Global Cellular IoT Market will Hit 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By End Use
By Component
By Technology
By Country
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