The Internet of Things (IoT) is accelerating its expansion across industries, driven by evolving wide area networking technologies, robust innovation ecosystems, and growing enterprise and smart city demand. By the end of 2024, 4.3 billion IoT devices were connected through cellular and LPWA (Low Power Wide Area) technologies, signaling both maturity and diversification in the IoT market.
Growth Trends
Cellular IoT remains the backbone of wide area IoT networking. According to Berg Insight, cellular IoT subscriptions hit 3.8 billion by the end of 2024 — 30 percent of all mobile subscriptions. Shipments of cellular IoT modules grew 22 percent year-on-year to 514 million units, while annual revenues rose 13 percent to $6 billion. The momentum is set to continue, with a projected CAGR of 11 percent pushing module shipments to 866 million by 2029.
LoRa, a key LPWA technology, is gaining global traction with cumulative end-node shipments reaching 410 million. Annual shipments hit 60 million in 2024, expected to grow at a CAGR of 16.5 percent to 129 million units by 2029. In contrast, Sigfox, under UnaBiz’s stewardship, is focusing on verticals like asset tracking and industrial sensing. Though its installed base was 14.2 million by end-2024, strong CAGR of 38.8 percent is forecasted through 2029.
Emerging LPWA technologies — IEEE 802.15.4, Wirepas Mesh, Mioty, and DECT-2020 NR (NR+) — are at various stages of adoption. IEEE 802.15.4 leads in maturity and deployment, especially in smart metering. Wirepas Mesh has reached 12 million installed devices, while Mioty and NR+ are beginning to gain traction in utilities and pilot deployments.
Market Drivers
Several key factors are powering this rapid growth:
Migration from legacy 2G/3G to LTE and 5G: LTE Cat-1 and Cat-1 bis, NB-IoT, and LTE-M are replacing outdated standards in low to mid-tier segments. High-speed applications are adopting Cat-4 and 5G as networks expand.
Smart utility deployments: Water and gas metering, driven by low power consumption needs, are boosting demand for LPWA technologies like LoRa and Mioty.
Automotive and fixed wireless access (FWA): 5G IoT adoption is growing in connected vehicles and routers, with RedCap poised to broaden the use case base once pricing aligns.
Private network models: For LoRa and Wirepas, private deployments dominate, particularly in industrial and municipal scenarios where control, cost, and customization are critical.
Smart home and consumer IoT: Amazon’s Sidewalk initiative is expected to accelerate LoRa adoption in smart homes in North America.
Innovation Strategies
Technology suppliers are leveraging several innovation pathways:
Modular platforms and ecosystem development: Leading cellular module vendors—Quectel, Fibocom, Telit Cinterion, Rolling Wireless, and MeiG—are expanding portfolios to support diverse use cases. Chipset providers like Qualcomm and UNISOC are optimizing for performance and efficiency.
5G RedCap development: Though adoption is nascent, RedCap (Reduced Capability 5G) promises to bridge the gap between LTE and 5G for mid-range IoT devices.
Edge intelligence and integration: Vendors are embedding greater intelligence at the device level, enabling real-time analytics and reducing backhaul bandwidth.
Standardization and interoperability: IEEE 802.15.4-based solutions are thriving due to standardization efforts that support vendor-neutral innovation in metering and automation.
Flexible network topologies: Mesh and hybrid architectures (like Wirepas) are being deployed in logistics and industrial sites to enhance scalability and resilience.
The wide area IoT landscape is on a strong growth trajectory, fueled by innovation in cellular and LPWA technologies, a shift to private and hybrid network models, and accelerating demand across utility, automotive, and smart infrastructure domains. Strategic investments in modular design, next-gen standards like 5G RedCap, and ecosystem alignment will be essential for stakeholders aiming to capture long-term value in this dynamic space.
InfotechLead.com News Desk
