Cellular connectivity has become a very popular option for POS terminals and was incorporated in 52 percent of the devices shipped in 2023. The wireless technology has an important role in facilitating the global adoption of electronic payments, as it enables the rollout of POS terminals to many new market segments and parts of the world where the fixed line telecommunications infrastructure is less developed.

The installed base of cellular POS terminals reached 137.8 million in 2023.

Berg Insight forecasts a CAGR of 8.2 percent between 2023 and 2027, resulting in a total of 188.9 million cellular POS terminals at the end of the forecast period.

Berg Insight projects at the same time that the global installed base of NFC-ready POS terminals will grow at a compound annual growth rate (CAGR) of 7.8 percent from 235.1 million units in 2023 to 317.9 million units in 2027. As a result, more than 95 percent of the world’s POS terminals will be NFC-ready in 2027, up from 85 percent in 2023.

Johan Fagerberg, Principal Analyst at Berg Insight, said:

“The Android POS terminal category has become very popular lately. About a third of the POS terminals sold in 2023 were Android POS terminals.”

The mPOS terminal market is growing at about the same rate as the traditional POS terminal segment. mPOS is the use of consumer-oriented mobile devices such as tablets and smartphones that function as a point-of-sale terminal to facilitate payment card transactions through a connection to a card-accepting reader. The global installed base of mPOS terminals totalled an estimated 109.9 million units in 2023. The installed base of NFC-ready mPOS terminals grew to 79.1 million units during the same year as NFC penetration reached 72 percent worldwide. Berg Insight projects that the installed base of NFC-ready mPOS terminals will grow at a CAGR of 12.3 percent between 2023 and 2027 to reach 125.9 million units worldwide. This corresponds to a penetration rate of 88 percent in 2027.

“Today, the mPOS device segment has also started to face competition from SoftPOS solutions. SoftPOS technology allows businesses to accept payments via a standard iOS or Android device”, concluded Mr. Fagerberg.

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Data traffic from cellular IoT connections is expected to rise to 110.8 exabytes (EB) by 2028, according to Omdia’s latest research.

This surge is driven by heightened demand for data that can be analyzed, aimed at enhancing operational efficiency to generate new revenue streams for companies.

The research uncovered that most cellular IoT data traffic will originate from the automotive vertical, with the largest use cases being infotainment such as streaming video and audio, and firmware over-the-air updates. Over the period between 2023 to 2028, automotive data traffic is forecast to rise from 18.6 EB to 59.4 EB, fueled by the integration of infotainment systems in newer vehicles with greater numbers of consumers taking up these services expected to utilize 5G connectivity. Transport and logistics emerge as the next significant vertical for cellular IoT data traffic, while all other verticals collectively account for less than 25% of the total traffic after 2024 according to the report.

Alexander Thompson, Senior Analyst for IoT at Omdia stated:

“A small number of use cases are responsible for the majority of cellular IoT data traffic. It is evident that video use cases, particularly those with mobility, such as video screens in cities and retail settings, will generate the highest data traffic.”

“The exponential growth in cellular IoT data traffic is being driven both by specific use cases and the growth in hyperscale IoT, characterized by the increasing connections of vast numbers of low power devices. Despite this, cellular IoT data traffic remains only a modest portion of the overall cellular data traffic landscape,” added Andrew Brown, Practice Lead for IoT at Omdia.

Furthermore, the research highlights Asia & Oceania will be the largest region for data traffic, comprising 60.6% of the global figure in 2023. This trend is attributed to the high number of video cameras installed, particularly within smart cities initiatives across the region.

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Elevators are often an understated component of our daily routines. Typically, one simply presses a button, waits briefly, and proceeds to their destination with little thought. However, the advent of the Internet of Things (IoT) is poised to revolutionize this experience. Imagine elevators becoming significantly more intelligent through IoT integration.

The Internet of Things (IoT) in the elevator market represents an exciting and rapidly evolving sector. IoT encompasses a network of interconnected devices capable of communicating and sharing data. Applied to elevators, this entails incorporating advanced technologies to improve their functionality, safety, and efficiency.

Consider an elevator capable of predicting maintenance requirements, optimizing energy consumption, and providing real-time updates to building management systems. This encapsulates the transformative potential IoT brings to the elevator industry.

Equipped with an array of sensors, these elevators continuously monitor their operational status. It is analogous to having a personal trainer who constantly checks your vital signs and advises when a break is necessary. Rather than waiting for malfunctions to occur, these smart elevators can anticipate issues before they arise, eliminating the inconvenience of being trapped between floors en route to an important meeting.

As per FACTMR, IoT in the elevators market is expected to witness a CAGR of 13.4% during the forecast period (2022-2032)

The IoT in the elevator market is driven by several key factors. Enhanced safety and security are major drivers, as IoT technologies enable real-time monitoring and predictive maintenance, significantly reducing the risk of elevator failures and accidents. Sensors and cameras further enhance security by monitoring usage and detecting anomalies.

Recent Trends in the Market:

Predictive Maintenance: One of the most significant trends is predictive maintenance. IoT-enabled elevators can monitor their performance in real-time, using sensors to detect anomalies and predict when maintenance is required. This reduces downtime and maintenance costs by addressing issues before they become major problems.

Energy Efficiency: IoT technologies help optimize energy consumption. Elevators can adjust their operation based on real-time usage patterns, which not only conserves energy but also reduces operational costs. Smart elevators can go into a standby mode when not in use, or adjust their speed and acceleration to be more energy-efficient.

In Europe, KONE has developed a regenerative drive system for their elevators. This system captures the energy generated when the elevator goes down or when it slows down and converts it into electricity that can be used elsewhere in the building. In some cases, these elevators can generate up to 20% of their operating energy from this process. It’s like your elevator is a mini power plant, helping to cut down on the building’s overall energy consumption.

Enhanced Safety: Safety is paramount in elevator design. IoT sensors can continuously monitor various safety parameters, such as door operations and cable integrity. They can instantly alert maintenance crews to potential safety issues, improving overall safety and reliability.

User Experience: Modern elevators can offer a more personalized user experience. For instance, smart elevators can recognize users through RFID cards or smartphones, adjusting settings to their preferences, such as preferred floor stops or ambient settings like lighting and music.

Data Analytics: The data collected by IoT-enabled elevators can be analyzed to gain insights into usage patterns, which any interesting fact or product in this market in any country.

In the city of Dubai, the Burj Khalifa’s elevators are equipped with advanced IoT systems that collect vast amounts of data on usage patterns. This data is analyzed to optimize elevator performance and reduce wait times. For instance, during peak visiting hours, the system can predict high-traffic periods and adjust elevator deployment accordingly. This ensures that visitors have a smooth and efficient experience, even when the building is at its busiest.

Though the market is growing rapidly there are certain challenges restricting the growth of the market.

Cybersecurity: With increased connectivity, IoT-enabled elevators are more vulnerable to cyberattacks. Hackers could potentially gain control of the elevator system, causing significant disruptions or compromising passenger safety.

Integration with Legacy Systems: Many buildings still use older, legacy elevator systems. Integrating new IoT technologies with these existing systems can be complex and costly, often requiring significant upgrades in both hardware and software. In the past, various office buildings in New York City faced difficulties when trying to retrofit their old elevator system with modern IoT capabilities. The existing infrastructure was incompatible with the new technology, resulting in a costly and time-consuming overhaul to enable full integration.

Data Privacy: IoT devices collect vast amounts of data, including potentially sensitive information about building occupants. Ensuring that this data is handled in compliance with privacy regulations is a significant challenge. In Europe, where GDPR (General Data Protection Regulation) is strictly enforced, elevator companies like KONE and Thyssenkrupp must ensure that the data collected by their IoT systems is anonymized and securely stored. This compliance is essential to avoid hefty fines and maintain user trust.

Initial Investment Costs: The initial cost of implementing IoT-enabled elevator systems can be high. While the long-term benefits and savings are substantial, convincing stakeholders to invest in these technologies upfront can be difficult. A residential high-rise in Los Angeles evaluated the cost of upgrading to an IoT-enabled elevator system. The initial investment was projected to be several hundred thousand dollars, which caused hesitation among the building’s management committee. Despite the potential long-term savings, the upfront cost was a significant barrier.

Here are some of the top companies providing IoT-enabled elevator solutions, highlighting their contributions and unique offerings in the market:

Otis Elevator Company: Otis is one of the largest and most well-known elevator companies globally. They have a strong focus on integrating IoT technologies to enhance their products. The company offers Otis ONE. This IoT service platform enables real-time monitoring and data analysis to predict maintenance needs, enhance safety, and improve operational efficiency. It uses advanced algorithms to optimize performance and reduce downtime. Otis ONE provides a comprehensive view of elevator operations through a cloud-based dashboard, allowing building managers to monitor multiple elevators in real time and receive predictive maintenance alerts.

Schindler Group: Schindler is a leading global provider of elevators, escalators, and moving walkways. They have been proactive in adopting IoT to improve their service offerings. This digital solution uses IoT and big data analytics to monitor elevators and escalators. It focuses on predictive maintenance, real-time diagnostics, and remote monitoring. Schindler Ahead offers a modular digital toolkit that includes features like Ahead ActionBoard, which provides real-time operational insights and maintenance status, and Ahead AdScreen, an in-elevator digital advertising platform.

KONE Corporation: KONE is a global leader in the elevator and escalator industry, known for its innovative and sustainable solutions. The company offers 24/7 Connected Services and these service uses IoT to monitor elevator performance and provide predictive maintenance. It leverages IBM’s Watson IoT platform to analyze data and predict potential issues.

Thyssenkrupp Elevator: Thyssenkrupp is renowned for its cutting-edge elevator technologies, including the use of IoT to enhance functionality and efficiency. The company offers a predictive maintenance solution that uses IoT to monitor elevator health in real time. This collects data from sensors and uses machine learning to predict maintenance needs before failures occur. This not only predicts maintenance needs but also provides actionable insights to service technicians, helping them to prepare in advance and reducing elevator downtime.

Mitsubishi Electric: Mitsubishi Electric is a significant player in the elevator industry, offering advanced IoT solutions to improve elevator performance and user experience. Mitsubishi’s IoT platform focuses on predictive maintenance and energy efficiency. It uses sensors to collect data on elevator operations and applies AI to optimize performance.

These companies are leading the charge in integrating IoT into elevator systems, bringing significant improvements in maintenance, safety, efficiency, and user experience. Their innovative solutions are transforming how elevators operate and are maintained, making buildings smarter and more efficient.

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The latest report from industry analyst firm Transforma Insights presents its annual snapshot of the status of the IoT market worldwide.

Transforma Insights has today published its report ‘Global IoT Forecast Report, 2023-2033’ which provides the industry benchmark of the status of the global Internet of Things market.

The key highlights are:

• At the end of 2023 there were 16.1 billion active IoT devices, a figure which will grow to 39.9 billion in 2033, a compound annual growth rate (CAGR) of 10%. Annual device sales will grow from 4.1 billion in 2023 to 8.7 billion (a CAGR of 8%).

• Short range technologies will dominate connections, accounting for 73% in 2033, a slight reduction compared to the 79% they account for today.

• Cellular connections will grow from 1.9 billion at end 2023 to 7.5 billion at end 2033. By 2033 total ‘5G’ including mMTC will be 5.5 billion, but just 1.1 billion will be ‘full’ 5G New Radio (NR). The remainder will be mMTC technologies such as NB-IoT and LTE-M. Substantially the biggest 5G non-mMTC use case is vehicle head units, accounting for 41% of connected in 2033.

• Other Low Power Wide Area technologies such as LoRaWAN will collectively grow from 360 million in 2023 to just over 2 billion in 2033.

• In revenue terms, the total IoT market (defined as including connectivity modules, value added connectivity, and core associated applications) in 2023 was worth USD335 billion, a figure which will rise to USD934 billion in 2033. Value Added Connectivity will account for 10% of spend in 2033, with the connectivity modules accounting for a further 4%.

• In 2033 the consumer sector will account for 61% of all connections. Of the enterprise segment in 2033, 35% of devices will be accounted for by ‘cross-vertical’ use cases such as generic track-and-trace, office equipment and fleet vehicles, 24% by utilities, most prominently smart meters, 22% by retail/wholesale (predominantly payment processing devices and electronic shelf labels), 7% by government, 4% by transport and logistics, and 3% for agriculture.

• Geographically, China, North America, and Europe dominate, accounting for 32%, 21% and 19% respectively of the total value of the IoT market in 2033.

Commenting on the findings, Principal Analyst Matt Arnott said: “The growth in adoption IoT continues at a steady pace, reflecting the diversity of use cases encapsulated within the concept. It’s not a hockey stick and never has been, but a series of micro-markets that each have their own dynamics, with some growing faster and others slower. There are micro-level factors that can massively accelerate growth such as the requirement in Spain to adopt breakdown beacons, and there are notable macro-level trends which will also have knock on effects on growth, such as populations aging even faster than expected. To forecast the IoT market you need to understand both, and much more besides.”

The report provides a summary of the data within Transforma Insights’ ultra-granular IoT Forecast Database and associated Forecast Insight reports, which together provide application-by-application analysis of the market.

Matt Hatton, Founding Partner at Transforma Insights noted: “Transforma Insights analysts have been forecasting the Internet of Things market opportunity for over a decade. Back in 2011 our analysts’ expectation of 12 billion IoT devices by 2020 was close to the bottom of the league table of predictions but proved to be easily the most accurate. Today as Transforma Insights our team continues to provide the most extensive and deeply researched forecasts of the IoT, making ours the benchmark against which all predictions of IoT market growth should be compared.”

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According to a new market research report from the IoT analyst firm Berg Insight, the number of active bicycle telematics systems in Europe and North America will reach 3.9 million in 2028, up from 1.7 million active units in 2023.

The adoption of bicycle telematics systems has picked up speed in recent years. There are both aftermarket and OEM telematics solutions available on the market.

Martin Cederqvist, IoT Analyst at Berg Insight, said:

“The main use case for bicycle telematics systems is stolen vehicle tracking and theft prevention. Bicycle theft is a growing concern and millions of bicycles are stolen every year in Europe and North America. Telematics solutions have proved to be an effective measure for protecting bicycles”

Bicycle OEMs have also introduced services such as predictive maintenance and vehicle diagnostics, crash detection services, over-the-air software updates and connected navigation. Bicycle OEMs can use such services to differentiate their offering as well as improve the user experience. The main application for aftermarket bicycle telematics systems is stolen vehicle tracking and some solutions then also include stolen vehicle recovery services.

The market is also driven by the increasing uptake of electric bicycles, which are more costly compared to conventional bicycles. OEM telematics systems are usually integrated with the e-bike battery that can power the telematics device.

“Some insurance companies offer customers discounts on insurance premiums if the bicycles are equipped with an active telematics device with tracking capabilities. Telematics devices usually enable live tracking of the bicycle which increases the probability of finding the bicycle again if stolen, which is the reason why insurance companies are ready to offer lower premiums”, said Mr Cederqvist.

There are numerous of bicycle OEMs offering connected services today. Examples of such companies include Ampler Bikes from Estonia; Canyon Bicycles, Riese & Müller and Urtopia from Germany; Cowboy and Stella from Belgium; Gaya from France; Gazelle, Sparta, Urban Arrow and Van Moof from the Netherlands; as well as QuietKat from the US. The leading telematics service providers are based in Europe. Those include Comodule, Conneqtech, IoT Venture, Velco and PowUnity. Other providers serving the market include Bosch, Haveltec, BikeFinder, Trackap, Tracefy, Boomerang Bike, Leopard Tech, ConnectLab and Boréal Bikes.

“Many telematics service providers offer a combination of OEM and aftermarket solutions while some focus on one of the segments. Telematics service providers moreover provide different forms of telematics solutions ranging from relatively simple tracking services to full telematics systems enabling a wide range of features”, concluded Mr Cederqvist.

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Berg Insight, the leading IoT market research provider, today released new findings about the market for Electronic Monitoring (EM) of offenders.

The number of simultaneous participants in EM programmes in Europe, North America and Latin America amounted to about 64,000, 518,000 and 130,000 respectively at the end of 2023. The total number of EM programme participants during the full year 2023 reached 200,000 in Europe, 880,000 in North America and 296,000 in Latin America.

Berg Insight estimates that the number of simultaneous participants will grow to 94,000 in Europe, 680,000 in North America and 239,000 in Latin America by the end of 2028. The market value in 2023 reached US$ 226 million in Europe, US$ 1.3 billion in North America and US$ 76 million in Latin America. The total market value in the three regions combined is forecasted to grow at a CAGR of 7.2 percent from US$ 1.6 billion in 2023 to US$ 2.3 billion in 2028.

Electronic monitoring (EM) programmes were first introduced in the US in the early 1980s. Today, EM is an established alternative to detention across Europe and North America and in some Latin American countries. The aim of EM programmes is to increase offender accountability, reduce recidivism rates and enhance public safety by providing an additional tool to traditional methods of community supervision. Policy makers, corrections authorities and private sector service providers advocate for extended EM programmes to reduce total correctional system costs and to combat prison overcrowding.

There are two dominant technologies used for electronic monitoring – Radio Frequency (RF) and GPS. RF-based systems are today the most common type of solution in most European countries, although the share of GPS devices is growing in many countries. In the US, Brazil and other countries in Latin America, GPS-based solutions are used in the vast majority of cases. A number of private companies are involved in the provisioning of EM, including developing, supplying and installing equipment, providing monitoring services as well as delivering other supporting services. Leading providers of EM equipment and services include US-based BI Inc. (GEO Group), Allied Universal Electronic Monitoring, Sentinel Offender Services, SCRAM Systems, Securus Technologies, Shadowtrack and Track Group; UK-based Buddi; Israel-based SuperCom; Poland-based Enigma (COMP); Switzerland-based Geosatis; and Brazil-based Spacecom and Synergye.

“The adoption and use of electronic monitoring solutions in the criminal justice sector is increasing as new products and solutions are being introduced that enable additional use cases”, says Martin Backman, Principal Analyst at Berg Insight.

Newly launched wrist-worn GPS devices reduce the stigma associated with ankle bracelets and can be used for low-risk offenders. Devices that combine GPS tracking and alcohol monitoring are also being introduced and are increasingly used as part of EM programmes. The developments in tracking technology and software in the past few years have made it possible to create dynamic inclusion and exclusion zones that protects the victims of domestic violence from the perpetrator. Victim protection solutions are now also part of the EM programmes in many countries and jurisdictions.

Mr. Backman concludes:

“EM programmes are expected to increase in size in the next few years as prison overcrowding and rising incarceration costs continue to impose major challenges for many jurisdictions in Europe and the Americas.”

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Berg Insight, the leading IoT market research provider, today released a new market study covering the video telematics market.

The integration of cameras to enable various video-based solutions in commercial vehicle environments is a massive trend in the fleet telematics sector. Berg Insight’s definition of video telematics includes a broad range of camera-based solutions deployed in commercial vehicle fleets either as standalone applications or as an added feature set to conventional fleet telematics. The frontrunning North American video telematics market is more than three times the size of the European, which is so far largely dominated by activities in the UK.

Berg Insight estimates that the installed base of active video telematics systems in North America reached almost 4.9 million units in 2023. Growing at a compound annual growth rate (CAGR) of 19.0 percent, the active installed base is forecasted to reach 11.7 million units in North America by 2028. In Europe, the installed base of active video telematics systems is estimated to almost 1.4 million units in 2023. The active installed base in the region is forecasted to grow at a CAGR of 18.0 percent to reach 3.1 million video telematics systems in Europe by 2028.

The video telematics market is served by a number of different types of players, ranging from specialists focused specifically on video telematics solutions, to general fleet telematics players which have introduced video offerings, and hardware-focused suppliers offering mobile digital video recorders (DVRs) and vehicle cameras used for video telematics. Berg Insight ranks Streamax, Lytx and Samsara as the leading video telematics players in their respective categories.

“Streamax is the leading hardware provider, having over 2.9 million mobile DVRs installed in vehicles globally to date, and the company also offers software dashboards which are widely used together with its devices”, said Rickard Andersson, Principal Analyst, Berg Insight. He adds that Lytx has the largest number of video telematics subscribers, having surpassed one million vehicles under subscription.

“Samsara stands out among the general fleet telematics players with a significant number of camera units deployed across its subscriber base”, continued Mr. Andersson. Additional sizeable players include the fleet management player Motive, the channel-focused brand Sensata INSIGHTS (including the acquired video telematics company SmartWitness) and the hardware-focused video telematics company Howen, all having estimated installed bases of several hundred thousand units.

“The remaining top-10 players are Netradyne, Nauto and VisionTrack, which all have a primary focus on camera-based solutions specifically, as well as the fleet management provider Solera Fleet Solutions”, said Mr. Andersson.

Solera acquired the commercial vehicle telematics pioneer Omnitracs including the video safety specialist SmartDrive. Other noteworthy players competing in the video telematics space include video-focused solution providers such as LightMetrics, SafetyDirect (Rand McNally), Idrive, SureCam, Waylens, Seeing Machines and CameraMatics; fleet telematics players including Trimble, Radius Telematics, MiX by Powerfleet, Matrix iQ, Forward Thinking Systems, Azuga, ISAAC Instruments, Microlise, Trakm8, AddSecure Smart Transport and EROAD; as well as the hardware-focused supplier Pittasoft (BlackVue).

“These players have all reached estimated installed bases in the tens of thousands”, concluded Mr. Andersson.

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According to a new research report from the analyst firm Berg Insight, the number of waste collection points fitted with smart waste sensor technology reached 1.25 million worldwide in 2023 (excluding China).

Growing at a compound annual growth rate (CAGR) of 22.8 percent, the number will increase to 3.50 million by 2028. These wirelessly connected fill-level sensors can be either pre-integrated into waste bins and containers, for example as a smart bin offering, or retrofitted on existing collection points. Europe accounts for around 45 percent of the installed base with markets such as the Benelux, France, the UK, Spain and the Nordics in the lead. The installed base in the North American market meanwhile reached 470,000 units in 2023. The Rest of World market excluding China will at the same time have the highest growth rate of 26.8 percent and surpass 700,000 installed sensors in 2028.

After acquiring Compology in late 2022, the US-based provider of managed waste and recycling services RoadRunner now holds the world’s largest installed base smart waste sensors and a market share of 16 percent of the total installed base (excluding China). Waste Harmonics (Keter) ranked second and is one example of that waste brokers and managed service providers in North America to a growing extent utilise proprietary smart waste sensors as part of their offerings. The US-based smart bin provider Bigbelly ranked as the third largest player. Meanwhile, the Norwegian smart waste sensor and software specialist REEN was the leading vendor in Europe and the world’s fourth largest in terms of installed base. The top 10 smart waste sensor technology vendors also included Sensoneo from Slovakia; SmartEnds from Belgium; Waste Vision from the Netherlands; BH Technologies from France; Enevo from the US; and Nordsense from Denmark. Together, the top ten vendors accounted for more than 53 percent of the global installed base of waste collection points featuring smart waste sensor technology. The companies in the market oftentimes focus on specific customer segments and geographies, and therefore face varying degrees of competition from each other.

While municipal smart waste management have been growing robustly in the last few years, private companies are also becoming an increasingly important customer segment for vendors offering smart waste management solutions and the segment is poised for significant growth. “We are still in the early stages of waste generators increasing their focus on sustainability and going forward it will be instrumental for organisations to measure, manage and track generated waste and emissions”, said William Ankreus, IoT Analyst at Berg Insight. Cellular communications remain the most popular connectivity technology choice, accounting for over 80 percent of the connected waste collection points in 2023.

Mr. Ankreus concluded:

“Cellular LPWA technologies (NB-IoT and LTE-M) have improved the overall business case for smart waste sensors and represented a large share of shipments in the last couple of years.”

Due to the sunsetting of 2G and 3G networks in several regions, replacements of existing sensors are also expected to affect the shipment volumes to an increasing extent in the coming years.

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Berg Insight today released new findings about the smart parking market. Excluding China, the global installed base of wirelessly connected in-ground and surface-mounted parking sensors reached an estimated 1.3 million devices worldwide at the end of 2023.

Growing at a compound annual growth rate (CAGR) of 19.8 percent, the number of installed sensors is expected to reach 3.2 million in 2028. Europe and North America together accounted for more than half of the installed base, while the rest of the world markets (excluding China) accounted for about 31 percent. Prominent smart parking sensor markets outside of Europe and North America include Australia, New Zealand and the Middle East. While cities and municipalities are increasingly adopting smart parking technology, the private segment today accounts for the majority of the installed devices.

Following the recent exits of several leading vendors such as Streetline, SmartGrains, Nedap and Onesitu from the market, New Zealand-based Frogparking has emerged as the world’s leading smart parking sensor provider. The company had a global market share (excluding China) of 12.2 percent in Q4-2023. The top three also included US-based CivicSmart and Spanish Urbiotica, which both have a significant international presence. Other major vendors include Australia-based Smart Parking, the European companies Fleximodo (GOSPACE LABS), Smart City System, IoT Solutions Malta and ParkHelp Technologies, as well as the North American vendors PNI and Nwave Technologies. The top ten vendors together accounted for around 46 percent of the global installed base of smart parking sensors outside of China at the end of 2023. Only a handful of companies have yet managed to establish an international presence spanning two or more regions of the world.

The Covid-19 pandemic caused disruption to the industry but as city and local government budgets are gradually stabilising, the interest in smart city solutions such as smart parking sensors has returned. The pandemic moreover brought a change in the parking landscape as remote work has become more commonplace.

“For the private and company parking segments in particular, this has paved the way for new opportunities in the utilisation of parking sensors as they allow parking owners to efficiently manage demand and supply to provide just enough parking when and where needed”, said Felix Linderum, IoT analyst, Berg Insight.

In North America, the smart parking sensor market has historically struggled to overcome scepticism caused by a number of technology failures in the early days of the industry. So far, growth in the region has mainly been driven by the private segment but cities are now becoming increasingly interested in the technology.

“Cities require more consistent and accurate data to improve their parking management operations and most sensors today offer high performance”, continued Mr. Linderum.

As more and more cities embark on larger-scale rollouts after having completed lengthy pilot projects, the share of on-street deployments will also increase as cities are the primary owners of such parking assets. While off-street parking deployments, which are characterized by high parking space densities, have been favourable to the use of RF networks, on-street deployments place higher demands on network coverage and long-range communications capabilities. While RF networks will continue to see growth in the off-street parking segment, LPWA technologies are expected to dominate on-street deployments.

Mr. Linderum, concluded:

“The share of parking sensors communicating through LPWA technologies such as LoRaWAN and NB-IoT has grown significantly in recent years and it is expected that their market share in the off-street segment will eventually increase as well.”

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Berg Insight today released the latest edition of its comprehensive smart city technology report comprising in-depth studies of five key technology areas – smart street lighting, smart parking, smart waste collection, urban air quality monitoring and smart city surveillance.

In 2023, the global installed base of individually controlled smart street lights amounted to 23.4 million units (excluding China). The corresponding figures for the smart parking and smart waste sensor technology markets were at the same time 1.30 million and 1.25 million units respectively.

Smart parking sensors refers to in-ground or surface-mounted parking occupancy detection sensors while smart waste sensor technology consists of fill-level sensor devices that may either be pre-integrated into bins and containers, for example as a smart bin offering, or retrofitted on existing collection points. The smart street lighting market has now gained significant traction and its installed base will grow at a robust CAGR of 21.9 percent to reach 63.0 million units in 2028. The number of installed smart parking sensors is expected to see a slightly slower growth of 19.8 percent (CAGR) while the smart waste sensor technology market will be the fastest growing of the three with a CAGR of 22.8 percent.

A more nascent smart city technology area is the field of non-regulatory urban air quality monitoring, which comprises increasingly small and low-cost air quality monitoring devices that can serve as valuable complements to traditional regulatory monitoring stations. In 2023, the number of such non-regulatory air quality monitoring devices installed in outdoor urban environments amounted to 154,000 units globally and will reach 498,000 units in 2028. The largest of the five covered smart city application areas was meanwhile the smart city surveillance market, which reached a global market value of € 12.5 billion in 2023. The market, which includes both fixed and mobile video and audio surveillance solutions, is expected to grow at a CAGR of 16.8 percent throughout the forecast period.

Outside China, Europe has emerged as the leading smart city technology adopter while North America constitutes the second largest market. The Middle East and Asia-Pacific regions meanwhile constitute the fastest growing markets for smart city technology, fuelled by ambitious top-down initiatives and rapid urbanisation.

“These regions offer fertile ground for innovation and investment, presenting significant opportunities for stakeholders to capitalize on the demand for sustainable urban solutions and digital transformation”, said Felix Linderum, IoT analyst, Berg Insight.

There are great opportunities for growth within all the separate smart city application areas, however, from a horizontal perspective, one of the biggest challenges is interoperability between the different layers and technologies.

“Truly smart cities are starting to emerge but their continued development will largely depend on the ability of local governments to navigate the complexities involved”, continued William Ankréus, IoT analyst, Berg Insight. Overall, the demand for remotely managed infrastructure grows day-by-day.

Mr. Ankréus and Mr. Linderum concluded:

“The massive influx of people into cities around the world and the increased interest in social, environmental and economic sustainability will continue to act as driving forces for smart cities and their enabling technologies.”

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Berg Insight, the leading IoT market research provider, today released a new market study covering the GNSS-based road pricing market.

GNSS-based road pricing refers to the charging of road users using global navigation satellite system (GNSS) sensors inside vehicles. The road pricing umbrella term typically covers various types of schemes such as electronic toll collection (ETC) and road user charging (RUC) as well as vignettes and congestion charging. More than a dozen countries around the world have GNSS-based RUC/ETC systems that are in operation or about to be launched in the relative near-term. The vast majority of these can so far be found in Europe but there are also programs in operation in North America and Asia-Pacific. Berg Insight estimates that the installed base of GNSS-based on-board units deployed for road user charging reached more than 7.4 million units worldwide in 2023. Growing at a compound annual growth rate (CAGR) of 7.3 percent, the installed base is forecasted to reach almost 10.6 million units in 2028.

Berg Insight ranks Russia, Germany and Poland as the largest markets in terms of the number of GNSS-equipped vehicles for road user charging purposes.

“The Russian implementation is the largest in the world with more than 1 million on-board units in use for the Platon ETC system”, said Rickard Andersson, Principal Analyst, Berg Insight.

He adds that Germany and Poland are the runners-up with the Lkw-Maut and e-TOLL systems respectively.

“Other countries with more than half a million on-board units in use include Belgium with the Kilometer Charge, Hungary’s HU-GO and the Czech Republic’s CzechToll satellite toll system”, continued Mr. Andersson.

Bulgaria and Slovakia also have several hundred thousand on-board units deployed. The remaining top-10 markets are New Zealand and Switzerland with the eRUC and LSVA implementations respectively.

“The fragmented US market has a few operational RUC programs on state level and the country is just outside of the global top-10 so far”, concluded Mr. Andersson.

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According to a new research report from the IoT analyst firm Berg Insight, the installed base of wireless devices featuring cellular, satellite or LPWA connectivity in the oil and gas industry is forecasted to grow at a compound annual growth rate (CAGR) of 19.3 percent from 7.8 million units at the end of 2023 to 18.8 million connected devices by 2028.

Remote monitoring of assets such as industrial equipment, tanks and pipeline infrastructure in the midstream and downstream sectors comprise the most common applications for wireless industrial IoT (IIoT) solutions in the oil and gas industry. The expected growth in cellular device shipments is attributed to a higher adoption rate of sensor applications based on LTE-M and NB-IoT technologies and continued preference for cellular communications in the remote tank monitoring segment. Since many remote monitoring applications have limited requirements on bandwidth, Berg Insight is of the opinion that non-3GPP LPWA technologies such as LoRa can achieve a significant position on this market as well.

Partnerships among industrial automation vendors and technology companies continue to be a theme in the oil and gas industry while expanding in scope with oil and gas operators and software companies. Global automation vendors including ABB, Emerson, Hitachi, Honeywell, Rockwell Automation, Schneider Electric, Siemens and Yokogawa can deliver complete solutions thanks to their extensive partner ecosystems.

In addition, the choice of preferred network topology and communications standards depends on the application area as each activity in the oil and gas value chain has its own specific need for connectivity. Many providers recognise the industry’s diverse needs by integrating different types of wireless capabilities into single box solutions. Connectivity providers such as Advantech, Cisco, HMS Networks, Moxa, MultiTech and Robustel offer modular routers and gateways where different wireless interfaces can be added to the device.

Wireless sensor solutions for remote asset monitoring are today offered with various options for communications such as LTE-M, LoRa and satellite. This suggests further convergence of wireless technologies and flexible offerings featuring hybrid solutions to serve the full range of connectivity needs in the oil and gas industry.

“Oil and gas companies are increasingly relying on data from IIoT devices to make better informed decisions”, said Veronika Barta, IoT Analyst at Berg Insight.

Today, IIoT devices can collect vast amounts of sensor data such as pressure, level, flow and temperature. As operators move towards more remote and autonomous operations, the need to collect greater volumes of data increases. The large data volumes call for edge processing capabilities to acquire data significance. In upstream applications, edge computing is used to collect and analyse real-time data from devices at drilling rigs and production wells. This enables operators to analyse data locally, reduce latency and make faster decisions to improve asset performance and reduce downtime.

Ms. Barta, concluded:

“Deployments of wireless IIoT devices with edge computing will be key to optimise assets and improve oil and gas operations.”

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Berg Insight has found in its latest research that around 9.0 million people in Europe and 5.2 million people in North America were using telecare or medical alert solutions at the end of 2023.

The figures include users of both in-home and mobile systems. Until 2028, Berg Insight forecasts that the number of telecare users will grow at a compound annual growth rate (CAGR) of 7.8 percent to reach 20.6 million in the two regions.

The market value of telecare solutions in Europe reached at the same time € 3.5 billion in 2023. The market value is expected to grow at a CAGR of 8.4 percent in the next five years to reach € 5.2 billion at the end of the forecast period. The market value for medical alert solutions in North America is expected to grow from € 2.7 billion (US$ 2.9 billion) in 2023 to € 4.1 million (US$ 4.5 billion) in 2028.

Berg Insight’s definition of telecare solutions, also known as medical alert systems or PERS (personal emergency response systems), is a service aimed for elderly, disabled and vulnerable people to seek help from home in case of an emergency. These solutions can trigger an alarm when the user presses a button or when a passive sensor detects an event out of the ordinary. These systems provide continuous in-home or completely mobile monitoring services and can consist of a range of electronic devices such as personal alarm buttons, motion detection sensors, GPS monitors or fitness devices. The market evolves to include AI solutions that automatically trigger an alarm for instance when a user leaves home at an unexpected time or forgets to take his or her medicine.

The telecare market in Europe and North America is served by range of companies providing hardware devices, software platforms and monitoring services. In the European market, Tunstall, Legrand, TeleAlarm, Careium, Chiptech and Chubb are among the leading end-to-end solution providers. Tunstall, Legrand and TeleAlarm have strong presence across the European region. Chiptech has its operations in the UK market, meanwhile Careium is a leading market player in the Nordic region and has also presence in the UK. Companies such as Telecom Design, Essence Group, 9Solutions, Oysta Technology (Access Group), Everon and Ascom are key telecare equipment vendors in Europe. Essence SmartCare is well-established in both Europe and North America. Enovation, Skyresponse and Azur Soft are the leading providers of telecare monitoring software solutions. Additional significant vendors active in Europe are Tellu, Yorbl, Urmet, Navigil, SmartLife Care, Libify, SmartWatcher, Just Checking and Vivago. In North America, end-to-end telecare solutions are provided by Freeus (Becklar Group), Connect America, Mytrex, Numera (Nice North America), MobileHelp and Lively. Another group of companies offering monitoring services and reselling medical alert equipment are Medical Guardian, Life Alert Emergency Response, ADT, Bay Alarm Medical, Aloe Care and ModivCare. Major telecare equipment vendors are Essence Group, Climax Technology, LogicMark and Anelto.

“The market for personal emergency response systems for the elderly and the vulnerable population will continue to grow as the demand for digital care solutions has increased over the last couple of years”, says Vatsala Raina, IoT analyst at Berg Insight.

The European and North American market for personal emergency response systems is supported by several trends and developments that will have an impact on the competitive landscape during the forecast years. The silver generation is quickly becoming technologically savvy and open to adopt technology to help in everyday living needs. AI has an increasing role in the development of preventive and predictive care models. Solution providers have integrated AI and ML algorithms to analyse the monitoring data to learn about the patients’ daily routines, identify irregularities and expedite the needed assistance. Predictive analytics models assess the users’ risk of falling based on their historical data and health conditions.

Mrs. Raina concluded:

“The industry is moving towards incorporating new care models and technologies such as sensor-based systems, smart lamps to detect fall detection, and consumer-oriented technology companies incorporating PERS features in wearables, smart speakers and smartphones.”

The industry is becoming more patient-centric which calls for integrated systems and improved interoperability of connected care solutions.

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• The global cellular IoT module market’s shipments declined 2% in 2023 as compared to 2022.
• Despite a decline in shipments, Quectel continued to lead, followed by Fibocom and China Mobile.
• NB-IoT and 4G Cat 1 shipments declined in its top market, China, where 4G Cat 1 bis gained at 4G Cat 1 and NB-IoT’s expense.

Global cellular IoT module shipments saw their first-ever annual decline in 2023, falling 2% YoY, according to Counterpoint’s latest Global Cellular IoT Module and Chipset Tracker by Application report.

Inventory adjustments following supply chain disruption and reduced demand in some key market verticals like industrial and enterprise were some of the key factors driving this decline.

4G Cat 1 bis grew the fastest in 2023, capturing over 22% of the shipments. In China, 4G Cat 1 bis has now become the primary cellular standard for POS, smart meter, telematics and asset tracking markets, owing to its affordability and energy efficiency. The market is slowly transitioning from 4G Cat 1 and NB-IoT to more efficient 4G Cat 1 bis.

Commenting on market dynamics, Associate Director Mohit Agrawal said,

“India and China have shown positive growth due to increasing demand in the smart meter, POS and asset tracking markets. Conversely, the rest of the world witnessed a sharper decline, indicating a lack of expected market momentum.”

Agrawal added, “Around 12% of the modules shipped in 2023 were equipped with AI capabilities at the software or hardware level. These modules are gaining popularity in high-end markets such as automotive, router/CPE and PC, facilitating the management of the escalating data load in these sectors.”

• Quectel, the leading module vendor, experienced a decline in its market share primarily because of weakened demand in markets outside China. The company has partnered with Syrma SGS Technology to manufacture IoT modules in India.
• China Mobile and Fibocom experienced double-digit YoY growth. China Mobile’s growth was driven by smart meters, asset trackers and POS applications, while Fibocom’s growth was driven by POS and telematics applications.
• This year’s merger between Telit and Thales propelled Telit Cinterion into the top five vendors of IoT modules. To further solidify its presence in India, Telit partnered with VVDN for local production.
• Several Chinese brands like Unionman, OpenLuat, Lierda and Neoway have shown significant growth within specialized markets like smart meter, asset tracking and POS.

Commenting on the market outlook, Research Analyst Anish Khajuria said, “In 2024, the IoT module market is expected to return to growth in the second half of the year with normalizing inventory levels and increasing demand in the smart meter, POS and automotive segments. Moreover, substantial growth is forecasted for 2025, coinciding with the widespread adoption of 5G and 5G RedCap technologies in smart meters, routers/CPE, POS systems, automotive solutions, and asset tracking applications.”

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Berg Insight, the world’s leading IoT market research provider, today released new findings about the market for Intelligent Transport Systems (ITS).

The estimated market value for ITS deployed in public transport operations in Europe was € 2.15 billion in 2022. Growing at a compound annual growth rate (CAGR) of 6.3 percent, this number is expected to reach € 2.92 billion by 2027. The North American market for public transport ITS is similarly forecasted to grow at a CAGR of 8.8 percent from € 0.88 billion in 2022 to reach € 1.34 billion in 2027.

Berg Insight is of the opinion that the market for ITS in public transport is in a growth phase which will continue throughout the forecast period. Considerable investment is going toward electrification of the public transport fleet, which will require more sophisticated ITS solutions to operate smoothly. In addition, the increasing demands from travellers for convenience and accessible real-time information contribute to a positive market situation. Governments in both Europe and North America view public transport as a prioritised area for investment. The Canadian government has for example announced a CAD 2.75 billion (€ 2.0 billion) investment toward electric buses, school buses and related charging infrastructure between 2021–2026.

A group of international aftermarket solution providers has emerged as leaders on the market for public transport ITS. Major providers across Europe and North America include Canada-based Trapeze Group and Germany-based INIT, which have significant installed bases in both regions. Clever Devices and Conduent hold leading positions on the North American public transport ITS market. The former has expanded into Europe with an acquisition and the latter is an international provider of fare collection systems. Additional companies with notable market shares in North America include Cubic Transportation Systems and Avail Technologies. Siemens Mobility is a prominent vendor of software in both Europe and North America.

Examples of major vendors on national markets in Europe include EQUANS and RATP Smart Systems, which hold leading positions in France. IVU is an important player primarily in the German-speaking part of Europe. Vix Technology, Flowbird and Ticketer are moreover major providers on the UK market. Other significant players include the Spanish groups GMV, Indra and Grupo ETRA; French Thales; Atron in Germany; Scandinavian FARA, Pilotfish and Consat Telematics; and Austria-based Swarco and Kontron Transportation. Volvo Group and Daimler are moreover notable players from the vehicle OEM segment, while companies such as Scania, Iveco, Gillig and New Flyer also offer some conventional OEM telematics features for their buses.

“We are increasingly seeing that solutions are developed with standardisation and interoperability in mind. ITS solution providers are now for example commonly requesting labels of compliance from standard organisations,” said Caspar Jansson, IoT Analyst at Berg Insight. Interoperability opens up many new possibilities for various stakeholders in the ITS ecosystem.

Mr. Jansson concluded:

“The standardisation efforts enable public transport agencies to combine competitive solutions from multiple vendors in their networks. The first tenders explicitly requiring equipment to be compliant with the ITxPT standard have now been issued.”

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According to a new report from the IoT analyst firm Berg Insight, the installed base of smart gas meters in Europe amounted to 55.9 million in 2023, equivalent to a penetration rate of 45 percent.

The installed base is forecasted to grow at a CAGR of 6.8 percent between 2023 and 2028, reaching 77.6 million units at the end of the period. Annual shipment volumes amounted to 4.8 million units in 2023 and are expected to be around 5.0–5.8 million throughout the forecast period.

The UK, Italy and Belgium were the most active markets, together accounting for 86 percent of all smart gas meter shipments during the year. While the rollouts in Italy, France and the Netherlands are largely completed, the UK market is finally after several delays ramping up yearly installations to reach a peak of 3.2–3.4 million units per year during 2024–2025. Belgium and Ireland are two other markets that are expected to contribute with significant shipment volumes in the coming years. The Spanish market is expected to reach yearly shipment volumes of 1.0 million units by the end of the forecast period.

The smart gas meters deployed in Europe have over the past years not been networked in quite the same way as their counterparts in the electricity sector. A common model, observed in the UK, the Netherlands and Belgium, is to utilize a local wireless or wired interface to transmit gas data via the customer’s smart electricity meter. A mix of 169 MHz RF and 2G/3G cellular communications has meanwhile been the primary model for the largest projects in which smart gas meters have been deployed independently of smart electricity meters, such as in Italy and France. A change of the status quo is likely on the horizon as new types of LPWA technologies have become more readily available in the past couple of years.

Mattias Carlsson, IoT Analyst at Berg Insight, said:
“The Italian gas sector was the first in Europe to initiate large-scale adoption of NB-IoT as a primary smart meter connectivity choice and in 2023 the installed base of gas meters with NB-IoT connectivity in the country reached more than 2.5 million at the end of the year. We anticipate that by the end of the forecast period NB-IoT will become the go-to connectivity option for smart gas meters, not only in Italy but also in several other European markets.”

The composition of communications technologies in the installed base of smart gas meters has already begun to shift in favor of new LPWA technologies. 169 MHz still however remains the most popular communications technology with a market share of around 37 percent at the end of 2023, while Zigbee boasted a market share of 26 percent. By 2026, Zigbee is expected to surpass 169 MHz as the most prevalent connectivity option with an installed base of 23.4 million – a number that is further forecasted to increase to 25.5 million in 2028.

NB-IoT/LTE-M is expected to be the fastest growing connectivity option at a CAGR of 35 percent during 2023–2028 to reach an installed base of around 13.2 million units in 2028 and accounting for as much as 60 percent of yearly shipment volumes at the end of the forecast period.

Another emerging technology trend is the anticipated increase in the use of hydrogen in European gas supply operations.

Mr. Carlsson concluded:

“Projects are currently underway in for example the UK and Italy that pilots metering devices capable of measuring either pure hydrogen or a blend of hydrogen and natural gas. The interest in hydrogen meters is anticipated to increase as the technology matures.”

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Industry opportunities driven by developments in 5G Standalone, 5G-Advanced, enterprise IoT and AI, GSMA Open Gateway and new revenue realisation through the BCE standard.

New figures from GSMA Intelligence (GSMAi) show 5G connections are expected to represent over half (51%) of mobile connections by 2029, rising to 56% by the end of the decade – making 5G the dominant connectivity technology.

5G has been the fastest mobile generation rollout to date, surpassing one billion connections by the end of 2022, rising to 1.6 billion connections at the end of 2023 and 5.5 billion by 2030.

As of January 2024, 261 operators in 101 countries had launched commercial 5G services, and more than 90 operators from 64 markets have committed to rollouts. Of the 261 commercial 5G services available, 47 are provided by 5G Standalone (SA) networks, with a further 89 planned deployments near-term that will take advantage of network slicing, ultra-reliable low-latency communications support and the simplified 5G SA network architecture.

The growth of available 5G SA networks, and improved support for private & dedicated networks, will support a massive number of connected devices and help to realise the global IoT vision for the enterprise. GSMAi data shows the enterprise segment now counts 10.7 billion IoT connections (versus 10.5 billion consumer connections) and this momentum is expected to continue, with enterprise connections more than doubling to 38.5 billion by 2030 and smart buildings and smart manufacturing accounting for 34% and 16% of total enterprise connections respectively.

Beyond 5G SA, the availability of 5G-Advanced with 3GPP Release 18 will be another key 5G milestone in IoT delivery, providing the catalyst for new 5G investment throughout 2024 and into 2025. GSMAi data shows over half of operators expect to begin deploying 5G-Advanced within a year after commercial availability of 5G-Advanced solutions, driven by priority use cases such as 5G multicast services and low-cost IoT support.

GSMAi predicts a fourfold rise in mobile data traffic between now and 2030 with expansions in 5G coverage and capacity playing a prominent role, showcasing the importance of continued infrastructure investments. It is predicted that monthly global mobile data traffic per connection will grow from 12.8 GB in 2023 to 47.9 GB in 2030.

The increasing use of Generative AI (GenAI) – 56% of operators are currently testing applications – will also likely fuel this growth. This will be driven by applications including the use of GenAI-enabled chatbots for customer service efforts or the continued growth of AI-generated video and music content.

Peter Jarich, Head of GSMAi, said: “The early success of 5G was driven by enhanced mobile broadband (EMBB) and EMBB-related network traffic requirements. Yet, while consumer requirements will continue their trajectory, we’re now seeing use cases beyond that. Opportunities are now appearing in areas including API monetisation and 5G RedCap for enterprise IoT – all supported by 5G-Advanced and 5G SA networks. 5G SA brings home 5G’s early promise, particularly where slicing, low-latency and massive IoT capabilities tied to enterprise service needs can be met. 5G-Advanced will only extend that further.”

Revenue realisation

New use cases will deliver new revenue streams for operators – which in turn brings a new focus to billing for 5G services. As more 5G SA networks become available, a new standard for billing was required to support the rollout of advanced network services and the flexible billing process that 5G SA cores offer.

The GSMA worked with its members, including AT&T, Deutsche Telekom, Swisscom and Vodafone, to develop and launch a new Billing and Charging Evolution (BCE) standard to replace Transferred Account Procedures (TAP). The BCE Standard represents a simplified charging model and will be a requirement for operators looking to implement 5G SA networks and deliver value from wholesale roaming settlement in 5G, LTE and operational efficiency of IoT.

Commercialising network APIs

Network API exposure is offering operators another route to maximise returns on their 5G investments and generate revenue beyond the traditional approach of selling connectivity services. GSMA Open Gateway is now empowering operators to harness the full potential of new capabilities built into 5G networks. In the 12 months since launching, 47 mobile operator groups – representing 239 mobile networks and 65% of global connections – have now committed to exposing their network APIs via CAMARA.

Working with technology partners including AWS, Infobip, Microsoft, Nokia and Vonage; 94 APIs are now commercially available to enterprise developers worldwide.

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2023: First time, massive decrease in cellular module market shipments. Inventory normalization expected in 2nd half 2024.

The cellular non-handset device market is expected to decline significantly by 11.5% YoY in 2023 due to the inventory adjustments after supply chain disruption, inflation and demand decrease in 2022-2023. It is assumed that the impact of inventory adjustments will continue until the first half of 2024.

Industrial cellular module market (excluding automotive telematics) is estimated to decrease by 14.3% for the bigger the inventory in the whole supply chain. This is the first time decrease since 2009, we started to follow cellular module market. Complex supply chain from IC, module, distributor, and device OEM/ODM, makes it difficult to predict the inventory situation. However, suppliers expect that inventory normalize at some point in 2nd half of 2024.

Among non-handset cellular modem applications, only cellular CPE and automotive telematics showed steady growth in 2023. However, for automotive, tier-1 and tier-2 suppliers start to adjust IC chip inventory in late 2023, 2024 module demand is expected to soften.

Cellular Industrial/Automotive Module Market Forecast by Vertical Application

The cellular industrial and automotive module market grew significantly in 2021-2022. Yet, it is estimated to decline significantly by 12% on YoY in 2023. From the second half of 2022 onward, the decline in demand due to the economic downturn and excess inventory in relation to supply chain disruptions had an impact. Inventory adjustments are expected to continue until 1H/2024, and the market growth rate is estimated to be flat to low single-digit growth in 2024. Industry expects the recovery in 2H2024, then back to high single-digit growth after 2025.

The main uses of industrial cellular module are as follows in descending order:
Smart Meter (Electric, Gas, Water Meter): 25% (2023)
Transportation (Before/After-market Telematics, Vehicle Tracking, Train, Marine) : 22% (2023)
GPS Asset/Life Tracking (Logistics, Heavy Machinery, Livestock, Human…) : 15% (2023)
Payment/Retail (Point of Sales (mPOS), QR Code Payment, ATM, Vending Machine…) : 14% (2023)
Security/ Automation (Security Camera, Security Robot, Gate System, Alarm, Sensor) : 8% (2023)
Healthcare (Patient Vital Monitoring, Medical device monitoring, Vaccine management, smart pill box…) : 5% (2023)

Among Cellular industrial IoT applications, smart utility meters (25%), GPS tracking (telematics + transportation + asset tracking) together accounts over 60% market share in shipment volume base.

Other main applications include sharing economy (bike, e-scooter…), industrial computer, PoC (Push Over Cellular) handset, EV charging pile, smartphone charging pile, remote environment monitoring, smart agriculture, and so on.

Cellular M2M Market Forecast by Standard

Many Industrial IoT applications do not require broadband connectivity. On the other hand, wide area coverage and stability in connectivity is important.

Looking at the industrial M2M module market in 2023 by standard,

• Cellular LPWA (LTE Cat.M and NB-IoT) decreased from 33% (2022) to just under 29% (2023).
• LTE Cat.1/Cat.1 bis expands from 35% (2022) to 39%.
• 5G for automotive increased slightly. Market share will increase from 2022: 0.3% to 2023: 0.6%.
• LTE will expand slightly from 21% (2022) to 23% (2023).

Trends after 2023 are as follows:

• 2G/3G to LTE Cat.1 bis migration in Europe and emerging markets
• Decrease of NB-IoT in Chinese market, migration to LTE Cat.1 bis
• Migration from LTE Cat.4/ Cat.1 bis to 5G RedCap in Chinese market
• 5G RedCap to be introduced in developed markets in 2026-2028
• Migration from LTE Cat.M to LTE Cat.1 bis in some applications in Europe, North America, etc.
• Migration from LTE to 5G in the automotive telematics

2G still has a market share of 7.6% in 2023. It is almost disappear in mature market, but still mainstream in South America, Africa, India and other emerging APAC countries. 2G will decrease to only 1% by 2029, migrate to LTE Cat.1 bis and LPWA.

LTE/ LTE-Advanced have a 23% share in 2023. It is widely used in the automotive, payment terminals, camera/video, industrial gateways, high end telematics, and so on. It will migrate to 5G eMBB/RedCap in the long run. The market share will decrease to just under 10% by 2029.

The market share of industrial 5G is only 0.6% in 2023. Private 5G/local 5G have been promoted in China and other developed markets, but they have not yet reached a large volume shipment. Excluding automotive telematics, the volume of 5G module shipments in 2023 is expected to be less than a million units. With the introduction of 5G RedCap, it is anticipated that the migration from LTE to 5G will progress in a wider range of applications. Thanks to the 5G RedCap market expansion, 5G will accounts about 17% of share in 2029.

LTE Cat.1 bis rapidly expanded in the Chinese market since 2021. In 2022-2023, Chinese low-cost LTE Cat.1 bis module has begun to be deployed in Europe, MEA, and APAC. It is expected that LTE Cat.1 bis will be introduced in Japan and USA from 2024. The market share of LTE Cat.1 + Cat.1 bis is estimated to increase to 39.3% in 2023 and exceed 50% in 2028-2029. Compared to LTE Cat.M/NB-IoT, the benefit of LTE Cat.1 bis is that it does not require base station upgrades. In the long term, LTE Cat.1 bis will migrate to 5G RedCap.

LTE Cat.M market is expected to see a decline first time in 2023 due to inventory adjustments. While demand is expected to decline in Europe and other countries, North America and Japan shows steady growth. The LTE Cat.M market share in 2022-2023 is approximately 10%. In 2029, it is estimated to grow to 11.5%. 5G eRedCap with 5MHz bandwidth operation is assumed to replace LTE-M in the long future.

The NB-IoT market turn to decline trend in 2023. In China market, competition between NB-IoT and LTE Cat.1 bis began in smart utility meter (gas, water) market in China. NB-IoT market is also expected to decrease outside China. Even in India, which is expected to become a large market for NB-IoT in the future, there is a possibility that LTE Cat.1 bis will take place of NB-IoT in the future.

Cellular Module & Modem Chip Market Share

In the industrial cellular module market, Quectel has about 39% of market share in 2023 based on shipments and 30% on a revenue basis. Quectel keeps top market share since 2017. Suppliers ranked second and below have a share of less than 10%, which is a big difference from Quectel. After Quectel, Telit-Cinterion, SunSea, Fibocom, ChinaMobile IoT, Neoway, ublox, Sierra Wireless, Rolling Wireless, MeiG accounts major share.

Since China market, which accounts over 50% of global cellular industrial module market, is occupied by local module suppliers, Chinese module suppliers counts about 83% of market share in shipment volume base. Among Chinese module suppliers, Quectel, Sunsea, Fibocom/Rolling Wireless also sells large number of cellular modules to overseas market.

The main module vendors by communication standard are as follows:

• LTE: Quectel, Fibocom, Rolling Wireless, SunSea, MeiG, LG Innotek, Telit-Cinterion, WNC
• 5G: Quectel, MeiG, Fibocom, Sierra Wireless, WNC
• LTE Cat.1 Global: Telit-Cinterion, Quectel, ublox、Sierra Wireless, Abit
• LTE Cat.1 bis China: Quectel, Fibocom, SunSea, Neoway, MeiG, MobileTek, Lierda
• LTE Cat.M: Telit-Cinterion, Quectel, u-blox, Sierra Wireless
• NB-IoT Module: Quectel, ChinaMobile IoT, Lierda, MobileTek, SunSea, Goldcard, Luat

For cellular modem chipset for cellular M2M module, Qualcomm, UNISOC, Eigencomm, and ASR have a large share, followed by Xinyi, MediaTek and Sony Israel. In shipment volume base, Qualcomm is by far the largest (2023: 34%), and the three major Chinese companies each have a market share of 14-15%. Chinese chip suppliers, all together accounts about 55% of share in 2023.

The major chipset suppliers by cellular standard are as follows:

• GSM: MediaTek, UNISOC
• 3G: Qualcomm
• LTE: Qualcomm, Intel, Sanechips, ASR, UNISOC
• 5G eMBB: Qualcomm, UNISOC, HiSilicon
• 5G RedCap: HiSilicon, Qualcomm
• LTE Cat.1 Qualcomm, Intel, Sequans
• LTE Cat.1 bis: ASR, UNISOC, Eigencomm, AICXTek
• LTE Cat.M: Qualcomm, Sony, ublox, Nordic, Sequans
• NB-IoT: Eigencomm, Xinyi, UNISOC, HiSilicon, M-Link

Qualcomm is strong in high end (5G, LTE-Advanced) cellular modem segment. In the LTE market, Qualcomm still has a large market share, but ASR, UNISOC, and Sanechips are growing in low cost segment. The LTE Cat.1 bis and NB-IoT chipset markets, which have expanded in the Chinese market, are dominated by Chinese IC suppliers. There are no Chinese chip suppliers in LTE Cat.M market, which is not used in China. The 5G RedCap chipset, which will be diffuse in the Chinese market first, other than Qualcomm, Chinese IC suppliers such as HiSilicon, UNISOC, ASR, Innobase, Eigencomm, and AICXTek are expected to take major market share in the early stages.

The post TSR Market Update: Cellular IoT Modules appeared first on IoT Business News.

• IoT eSIM connections are expected to grow 43% annually between 2023 and 2030.
• New GSMA standards for IoT eSIM are expected to accelerate the adoption of eSIM in IoT as constrained devices benefit from new standards.
• China lags in eSIM adoption despite being the largest IoT market in terms of connections.

IoT connections on eSIM are expected to grow at a rapid pace of 43% annually to reach 2.2 billion by 2030, according to a recent report released by Counterpoint Research on the IoT connectivity landscape.

By 2030, almost a third of the IoT connections will be on eSIM or iSIM.

Commenting on the current state of IoT eSIM connections, Associate Director Mohit Agrawal said, “eSIM growth in IoT has lagged behind that in consumer space due to the restrictive M2M eSIM specifications. As a result, at the end of 2023, there were a little less than 200 million eSIM connections in the IoT space despite the excellent product-market fit.”

Agrawal added, “China, the world’s largest IoT market, has low single-digit eSIM penetration due to restrictive regulations around eSIM in the past and the high proportion of LPWA devices which currently do not support eSIM. The eSIM penetration in the rest of the world is much higher than in China but the large IoT base in China brings the overall global eSIM penetration to less than 10%.”

Commenting on the eSIM forecast, Senior Research Analyst Ankit Malhotra said,

“The new GSMA standards for IoT eSIM (SGD.31/32) are expected to bring the eSIM to constrained devices, which is likely to massively push the growth in eSIM and later iSIM.”

“eSIM vendors and IoT connectivity providers have multiple proof of concepts on the new IoT eSIM standards and the big push is likely to happen next year after the test specifications are released by GSMA later this year. The early adopters of eSIM in IoT have been mostly automotive customers as the enterprises have not really been able to change the connectivity provider at will.”

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More than 60 percent of the electricity customers in EU27+3 had a smart meter at the end of 2023.

The market is set for stable growth with a total of more than 88 million smart electricity meters forecasted to be deployed across the region from 2024–2028. This was among other things concluded in the latest comprehensive study of the European smart metering market from the leading IoT analyst firm Berg Insight, which has closely tracked the development on this market since the company’s founding in 2004.

At the end of 2023, the EU27+3 region was home to more than 186 million smart electricity meters. Growing at a steady CAGR north of 6.1 percent, the installed base of smart electricity meters is expected to reach a penetration rate of 78 percent by 2028, driven by second-generation rollouts in countries such as the UK, Italy, Spain and Sweden alongside first-generation projects in Germany, Poland and Greece. The smart gas metering market is also set for robust growth in the EU27+3 region where the installed base of devices is forecasted to increase from 56 million units in 2023 to around 78 million units by 2028.

The composition of smart electricity shipment volumes is anticipated to change in two important ways, indicating a focus shift away from Western European markets which have historically been at the forefront in terms of smart metering deployments.

“Firstly, first-generation electricity meter shipment volumes will account for 67 percent of total shipment volumes throughout the forecast period, as second-generation rollouts in Western Europe are by now either in their final stages or fully completed. Secondly, the share of first-generation shipment volumes to countries located in the CEE and SEE regions will increase from 50 percent in 2022 to 80 percent in 2028,” said Mattias Carlsson, IoT Analyst at Berg Insight.

In the last years, the smart metering market has also undergone a shift related to the type of communications technologies being used for data exchange with the utility’s back office. Standalone wireless connectivity options have grown considerably in popularity in the past years and will account for between 55–65 percent of annual shipment volumes throughout the forecast period.

Mr. Carlsson concluded:

“Most of the growth is attributable to 3GPP-based LPWA connectivity options, which are now available in most European markets. Annual shipments of NB-IoT and LTE-M electricity meters are forecasted to be at a level of 3.5–4.0 million per year during the forecast period.”

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eSIM technology is bringing greater efficiency to the cellular IoT market and empowering enterprises with greater flexibility and choice as shown in new research by Omdia.

Catalyzed by the GSMA SGP.31/32 specifications, eSIM technology is primed for mass adoption, particularly on LPWAN devices. With the complexity of switching between network profiles reduced, enterprises can take advantage of easier device management, greater network coverage, and improved commercial terms.

eSIM technology has been widely adopted in consumer markets, particularly with higher-end smartphones and smartwatches. Constraints on power, computing, and end user intervention have stymied the ability of IoT enterprises to take full advantage of this technology. Omdia believes that these hurdles are beginning to be reduced as solutions come to market. Advances in eSIM technology will drive adoption in IoT from just over 1 billion in 2023 to over 3.6 billion in 2030.

The market is being driven not only by improvements in eSIM technology, but also by other key trends driving IoT adoption, such as 5G RedCap, 5G Massive IoT, and 4G LTE Cat-1bis modules, as well as enterprise demand.

“eSIM technology has long been seen as an important form factor for IoT devices, but now we are seeing the technology improve in ways that help enterprises provision over-the-air in resource-constrained IoT devices,” said John Canali, IoT Principal Analyst, Omdia. “This will create greater competition between communication service providers (CSPs), as IoT enterprises are less subjected to vendor lock-in by the CSPs and are better positioned to renegotiate connectivity tariffs.”

Andrew Brown, Practice Lead, IoT at Omdia, added:

“The new GSMA SGP.32 eSIM specification was much needed and has been specifically designed for IoT. It offers significant advantages in terms of cost, flexibility and longevity for hardware OEMs, finally beginning to bridge the gap between traditional consumer device provisioning and more traditional IoT devices. This will help to accelerate adoption in key industries, not only those that have long desired eSIM standardization, such as automotive, but in a multitude of others also.”

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According to a new research report from the IoT analyst firm Berg Insight, the number of active consumer asset tracking devices in Europe and North America reached 12.5 million at the end of 2022.

Growing at a CAGR of 18.4 percent the number of units in active use is estimated to reach 29.2 million units by the end of 2027. The market value is during the same period forecasted to grow from € 1.6 billion in 2022 to € 3.8 billion in 2027.

Consumer asset tracking solutions utilizing wireless wide area networks such as cellular, satellite, LoRa or Sigfox can be divided into four main categories based on asset type – family and child tracking, pet tracking, vehicle tracking and general asset tracking. The vehicle category can be further divided into cars; motorcycles and mopeds; bicycles; caravans and motor caravans; leisure boats; and other consumer vehicles including ATVs and snowmobiles. The general asset tracking segment includes any type of asset, such as bags and luggage, keys, wallets, clothes, electronics, tools and sports equipment.

Leading providers of family and child tracking products and services include Smartcom Mobility Solutions, Smith Micro Software, Life360, Xplora Technologies and Verizon. The pet tracking market is dominated by Tractive, Fi, Whistle and Halo. The market for aftermarket car telematics solutions sold to consumers is led by Verizon, Mojio, Tail Light and Agnik in North America and Haysquare, Net4Things and the Plan B Company in Europe. Leading providers of GPS tracking and vehicle recovery solutions for motorcycles and mopeds in Europe include Datatool (Scorpion Automotive), Mapit IoT, Monimoto and GeoRide. A few companies provide tracking solutions developed specifically for leisure boats, including Sensar Marine, Sentinel Marine Solutions, Sailsense Analytics, Vetel and Siren Marine. The market for GPS trackers for electric bicycles is growing rapidly. The market is today led by European companies such as IoT Venture, PowUnity, Haveltec, BikeFinder and Tracefy. Trackimo, Invoxia, LandAirSea are leading providers of general-purpose tracking devices.

“The demand for consumer asset tracking solutions is growing across all segments”, says Martin Backman, Principal Analyst at Berg Insight. The market is still in an early phase and many solution providers are still searching for the right business model and pricing model. Very few companies have emerged as clear market leaders in specific asset tracking market segments in Europe or North America. Most companies are still mainly serving the domestic market or nearby countries.

“Technological advancements in battery capacity, processor power and network technology will continuously enable better solutions at lower price points”, continues Mr. Backman. This will make the solutions even more attractive to consumers and create a higher demand.

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The cellular IoT ecosystem is poised for significant transformation over the next seven years, driven by the rise of 5G technologies as revealed by new Omdia research.

With a predominant focus on 5G RedCap, 5G Massive IoT, and 4G LTE Cat-1bis modules, the forthcoming shipments are anticipated to culminate in a substantial 5.4 billion cellular IoT connections (installed base) by the year 2030. This paradigm shift underscores the evolving landscape and increasing prominence of advanced cellular connectivity solutions.

The research also found that mass adoption of 5G RedCap is set to commence from 2024 onward with the technology establishing itself as a mid-tier connectivity solution for 5G devices that do not require such high specifications as Ultra-Reliable Low Latency Communications (uRLLC) and Enhanced Mobile Broadband (eMBB). It will also enable futureproofing of devices as the industry anticipates the eventual phase-out of 4G beyond the year 2030.

Alexander Thompson, Senior Analyst for IoT at Omdia commented:

“2024 will be a pivotal year for 5G RedCap growth. This will begin in China, where most volume is expected and in due course subsidies will bring the module Average Selling Price (ASP) down to similar pricing as LTE Cat-1.”

The forecast also finds that over 60% of IoT module shipments will come from the Asian & Oceania region, making up approximately 80% of IoT connections in 2023. Notably, the automotive sector emerges as a key driver, and is set to see the largest number of module shipments due to the growing demand for smart vehicles integrating 5G connectivity.

“Across the IoT value chain, Application Enablement Platforms (AEPs) continues to be the leading revenue generator. There remains a role for industry specific/pure-play AEPs despite the exponential growth of hyperscaler offerings and financial constraints for startups in the current economy,” added Andrew Brown, Practice Lead for Omdia’s IoT group.

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Amid waning demand, cellular IoT module market faces another challenging quarter in Q3 2023, according to Counterpoint Research.

• Despite a decline in shipments, Quectel continued to lead, followed by Fibocom and China Mobile.
• The top five applications – smart meter, automotive, POS, router/CPE and telematics – accounted for over 60% of total cellular IoT module shipments.
• Against the backdrop of muted demand, full-year shipments for 2023 are expected to decline by 5%.

Global cellular IoT module shipments saw a 2% YoY decline in Q3 2023, according to Counterpoint’s latest Global Cellular IoT Module and Chipset Tracker by Application report.

Weaker demand, rising interest rates and cautious spending from enterprise IoT players are some of the important factors for slowdown in this market.

For the first time, the 5G market’s share in the global cellular IoT module market crossed 5%, indicating traction for 5G adoption. However, 5G applications are currently limited due to the lack of killer use cases and higher prices. We are only witnessing early adoption in the router/CPE, PC and automotive markets.

The IoT module market is undergoing a technology transition from 4G Cat 1 and NB-IoT to 4G Cat 1 bis. The low-cost and power-efficient 4G Cat 1 bis is becoming popular for many applications, including POS, smart meter, telematics and asset tracking.

Commenting on the market dynamics, Associate Director Mohit Agrawal said, “The top five applications, encompassing smart meter, automotive, POS, router/CPE and telematics, accounted for over 60% of total cellular IoT module shipments this quarter. Notably, only the smart meter and router/CPE segments observed positive growth in shipments, with other applications experiencing a decline.

India stands out as the only region to register positive growth in the global cellular IoT module market. Conversely, the market outside of China and India saw a steeper decline compared to China. Contrary to industry expectations, the market is not gaining momentum.”

• Quectel, the market leader, and Telit Cinterion, one of the leading international vendors, experienced a decline in shipments. This trend mirrors the prevailing conditions in both the Chinese and global IoT module markets. However, Quectel showed a slight improvement in performance in the global market on a sequential basis.
• In contrast, the other two vendors in the top five – China Mobile and Fibocom – saw positive growth. This growth was driven by smart meter, asset tracker and POS for China Mobile and router/CPE applications for Fibocom. China Mobile recently established a subsidiary, BILIN’ZHILIAN, to accelerate its module business growth.
• Certain Chinese brands such as Unionman, OpenLuat and Lierda exhibited positive performance from a niche perspective. Their growth was fuelled by applications in smart meters, asset tracking and POS.

Commenting on the future outlook, Senior Research Analyst Soumen Mandal said, “Global cellular IoT module shipments are projected to experience a 5% YoY decline in 2023. However, demand revival is expected by the second half of 2024, with substantial growth predicted for 2025, coinciding with the mass adoption of 5G and 5G RedCap.”

“In the long term, the cellular IoT module market holds promise and applications such as smart meter, router/CPE, POS, automotive and asset tracking will be driving most of the growth for this market.”

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Berg Insight presents a unique database covering the 500 largest cellular IoT deployments identified as part of the company’s world-class IoT market research activities since 2004.

The extensive list includes various types of projects and product categories deployed across all types of vertical markets including OEM automotive, aftermarket automotive, transport & logistics, utilities, infrastructure, buildings & security, retail, industrial, consumer electronics, healthcare and other. The database includes project size and geographical distribution by the end of 2022 as well as a 5-year forecast for each individual project.

“The projects included in the top-500 list together account for approximately 548 million active cellular IoT subscriptions”, said Rickard Andersson, Principal Analyst, Berg Insight.

He adds that this corresponds to as much as 20.6 percent of the total number of cellular IoT connections worldwide at the end of 2022. The 500 projects on the list are in the coming years forecasted to grow to 1,024 million units by 2027, corresponding to an overall compound annual growth rate (CAGR) of 13.3 percent.

Mr. Andersson continued:

“More than 100 deployments on the list have reached 1 million subscriptions or more, and the top-10 projects alone account for over 183 million units.”

Transport & logistics is the largest vertical in terms of the number of projects that made the top list, followed by aftermarket automotive, retail, utilities, OEM automotive, buildings & security and healthcare.

“When comparing the number of active subscriptions represented by each vertical for the entries in the top-500 list, OEM automotive is instead the largest vertical, accounting for 191 million units, ahead of utilities at 118 million units and transport & logistics representing 97 million units”, concluded Mr. Andersson.

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