Cellular IoT Market to Drive Robust Growth Piggybacking on 5G Technology

The rise of 5G technology has already created ripples around the world as nations fight to control the technology which is expected drive the next wave of innovation. The technology is expected to drive major changes in the way cellular devices connect to surrounding setting and are already making waves with new IT environments like IoV. The technology is expected to create significant opportunities in the logistics and manufacturing. According to a recent report by Ericsson, IoT networks are expected to grow at 19% until 2023. Additionally, over 20 billion devices are expected to connect to 5G by 2023. Among these, there are over 3 billion cellular devices. The growth is especially expected to be rampant in countries like China which are laying out robust infrastructure for 5G technology, thanks to rising demand and application.

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Environment Monitoring Promises a Major Avenue for Growth

According to a new report by Intel, over 74% leaders in various industries agreed that AI driven by IoT can play a critical role in solving environmental problems. The study is not surprising as increasing demand for cellular IoT solutions in sectors like agriculture point towards the same solution. Currently, soil erosion is a major issue for the agriculture sector in agriculture and environment monitoring sector. Not only it causes several deaths each year around the world, but also results in significant reduction in productivity in agriculture sector. Moreover, the IoT devices promise application in crop and soil monitoring in real-time. Something which can help modern farmers detect animalies in crops in real-time and find solutions. Furthermore, the technology can also help monitor plant nutrition, hydration, and diseases in real-time. This is expected to emerge as a major opportunity as startups are investing in techniques like vertical farming, hydroponics to provide fresh foods to urban foods. The rising demand for fresh, disease-free, and natural supply of agriculture can drive significant growth for players in the cellular IoT market in the near future.

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Author: Rohit Bhisey

As Head of Marketing at TMR Research, Rohit brings to the table over a decade of experience in market research and Internet marketing. His dedication, perseverance, and passion for perfection have enabled him to achieve immense success in his field. Rohit is an expert at formulating new business plans and strategies to help boost web traffic. His interests lie in writing news articles on technology,healthcare and business.

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