The Market Landscape for Massive IoT

Massive Internet of Things (IoT) is just how it sounds – a massive ecosystem of connected devices working together to power IoT applications. According to a 2021 Ericsson Mobility report, Massive IoT will make up approximately 51 percent of all cellular IoT connections by 2027. Low power wide area (LPWA) Mobile IoT networks make up a portion of this percentage.

What are LPWA Networks?

LPWA networks, such as LTE-M and NB-IoT process data slower than other cellular technologies, which is why it pairs well with lower-complexity IoT devices that don’t need fast data transmission. LPWA networks, designed with low-data and low-power devices in mind, offer similar benefits of cellular connectivity, with reduced costs and often better coverage in buildings, underground, and across supply chain and transportation solutions.

Because of this, LPWA is able to connect millions of devices across the globe to power everyday objects.

Top Smart Use Cases for Massive IoT

1. Smart Agriculture
   • Massive IoT uses big data to monitor critical information that result in safer, cost-effective farming practices. These solutions help bridge the gap between seamless IoT connectivity and challenges in agriculture. Ultimately, Massive IoT steps in to accompany resilient technology that prevents data overages, tracks feed levels, and improves production efficiency. According to Berg Insight, The Europe intelligent agriculture market was worth $1.51 billion in 2021 and estimated to reach $2.71 billion by 2026.
2. Smart Cities
   • Rapidly growing urban cities rely on smart infrastructure to support all of the components. Massive IoT uses sensors to monitor waste management, parking meters, streetlights, traffic lights, and more. Dozens of cities around the world have adopted these practices to improve city life. According to a recent report, the European market in smart cities is expected to reach $90.20 billion by 2027 at a CAGR of 15.7%.
3. Smart Energy
   • Smart energy transformation is shifting the electrification of society. Smart metering and monitoring are key enablers of smart energy, helping providers ensure compliance, efficiency gains and improved customer experience. According to MarketsandMarkets, the global IoT energy market size is estimated to grow from $20.2 billion in 2020 to $35.2 billion by 2025.
4. Smart Manufacturing
   • Manufacturers are investing in smart factories to  identify potential problems and take the necessary actions before issues occur, prevent damage and reduce maintenance costs and boost productivity and efficiency while reducing operational costs. According to Berg Insight, The Rise of the Machines reveals that Europe’s smart manufacturing market is valued at $24 billion. Europe represents 30% of the global market for smart manufacturing and factory automation.
     

1. Smart Fleet

• • According to Business Wire, the global smart fleet market is expected to reach $82 billion by 2026, up from an estimated $44.5 billion in 2021. Optimising fleet and supply chain solutions creates improved production operations, facilitates safer driving, and increases visibility. Massive IoT uses real-time data to measure performance, supporting efficiency and mitigates risks.

KORE Device Management

Manually monitoring devices with trustworthy security can create quite the challenge. For protection on your digital assets, greater network visibility, and diagnostic capabilities, KORE SecurityPro^TM offers solutions to easily manage all your devices for optimal performance. SecurityPro is an award-winning, comprehensive tool that provides your business with actionable insights to leverage your IoT ecosystem.

To learn more on how you can prevent data overages and cut unnecessary costs, check out our KORE SecurityPro demo.