New Zealand Markets open in 2 hrs 46 mins
  • NZX 50

    11,395.35
    +87.04 (+0.77%)
     
  • NZD/USD

    0.6206
    +0.0038 (+0.6082%)
     
  • ALL ORDS

    7,442.00
    +23.40 (+0.32%)
     
  • OIL

    78.41
    +1.17 (+1.51%)
     
  • GOLD

    1,764.60
    +9.30 (+0.53%)
     

Strategy Analytics/TechInsights: Industrial, Automotive and Utilities Remain the Biggest Verticals for IoT Connections During 2022-30

Industrial will be the leading vertical followed by Automotive with highest CAGR in 2030

BOSTON, October 07, 2022--(BUSINESS WIRE)--Strategy Analytics published its latest report on IoT Cellular Connections by Vertical and by Air Interface (25,3G,4G&5G), forecasting a double-digit compound annual growth rate (CAGR) of 14% during 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 till 2030 - Industrial and Automotive will be the biggest verticals in terms of number of IoT Connections during the forecast period 2022-30.

This latest update looks at the historical data as far as 2013 and forecasts IoT connections by Air Interface technology (2G, 3G, 4G, 5G) and by Verticals – Automotive, Healthcare, Home (non-security), Industrial, Primary Processing, POS/Retail, Security, Transport, Utilities and others. During 2022-30, Healthcare is the highest growing vertical with a CAGR of 23% followed by Industrial and Automotive verticals with a CAGR of 17% and 16% respectively.

Strategy Analytics believes that the largest sectors will continue their growth trajectory, with IoT connections in Industrial accounting for 21% in 2030, growing from 17% in 2022 and Automotive accounting for 18% in 2030, growing from 15% in 2022, during the forecast period of 2022-30. In 2022, Industrial is the leading sector with 17% of the total IoT connections followed by Automotive and Utilities with 15% 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% 5G IoT connections respectively. Healthcare and Security applications will be the next largest market in 2030, accounting for a combined 20% of 5G IoT connections. The low latency benefits of 5G will allow IoT use cases where near-instantaneous communications are required, such as platooning of trucks in transportation, autonomous driving, low latency in manufacturing and areas like remote surgery in healthcare, where a surgeon could be conducting a surgery via robotics and virtual/augmented reality, even though not located in the operating theatre with the patient."

Source: Strategy Analytics, Inc.

#SA_IOT

About Strategy Analytics

Strategy Analytics, Inc. is a global leader in supporting companies across their planning lifecycle through a range of customized market research solutions. Our multi-discipline capabilities include: industry research advisory services, customer insights, user experience design and innovation expertise, mobile consumer on-device tracking and business-to-business consulting competencies. With domain expertise in: smart devices, connected cars, intelligent home, service providers, IoT, strategic components and media, Strategy Analytics can develop a solution to meet your specific planning need. For more information, visit us at www.strategyanalytics.com

For more information about Strategy Analytics
Mobile Workforce Strategies: Click here
IoT Strategies: Click Here

View source version on businesswire.com: https://www.businesswire.com/news/home/20221006005866/en/

Contacts

Report contacts:
Contact: Waseem Haider, +49(0) 2620 1854, whaider@techinsights.com
Contact: Gina Luk, +44(0) 1908 423 632, gluk@techinsights.com