The Latin America, Middle East and Africa Cellular IoT Market would witness market growth of 27.0% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Cellular IoT Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $707.8 million by 2031. The Argentina market is showcasing a CAGR of 28.6% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 25.9% during (2024 - 2031).
The adoption of these technologies has been steadily growing, driven by several factors, including the increasing need for reliable connectivity, advancements in mobile network technology, and the rise of data-driven business models. The availability of advanced telecommunication infrastructure, such as 5G networks, accelerates the adoption of cellular IoT.
They offers businesses an economically viable solution for large-scale IoT deployments. Cellular networks are often more cost-effective than alternative technologies like satellite or Wi-Fi, particularly for applications requiring wide coverage and mobility. Additionally, many service providers offer low-cost, long-range cellular IoT solutions, such as Low-Power Wide-Area Networks (LPWANs), which are designed to provide connectivity for devices with minimal power consumption.
The rapid advancements in the manufacturing and technology sectors in South Africa and Saudi Arabia are expected to profoundly impact this market in these regions. The rise of electrotechnical equipment manufacturing in South Africa and the increasing growth of the IoT industry in Saudi Arabia are significant factors contributing to the expansion and transformation of this market. The country is strengthening its electronics manufacturing base in South Africa, with more than R90 billion worth of electrotechnical equipment being manufactured annually. Electronics manufacturing contributes 4% to the total manufacturing output, creating a favorable environment for the growth of these applications, especially in industries like smart home systems, connected vehicles, and industrial automation. Thus, both regions are witnessing technological advancements that will significantly increase the need for connected devices and the integration of these solutions.
Free Valuable Insights: The Worldwide Cellular IoT Market is Projected 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By End Use
By Component
By Technology
By Country
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