Digital Media Net - Your Gateway To Digital media Creation. News and information on Digital Video, VR, Animation, Visual Effects, Mac Based media. Post Production, CAD, Sound and Music
Categories: Augmented RealityNews

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

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

BOSTON–(BUSINESS WIRE)–Strategy Analytics published its latest report on IoT Cellular Connections by Vertical and by Air Interface (25,3G,4G&5G), forecasting a double-digit compound annual growth rate (CAGR) of 14% during 2022-2030

According to Waseem Haider, Principal Analyst, Enterprise IoT at Strategy Analytics and author of the report, “IoT Cellular Connection by Air Interface by Vertical” which provide projections till 2030 – Industrial and Automotive will be the biggest verticals in terms of number of IoT Connections during the forecast period 2022-30.

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

Strategy Analytics believes that the largest sectors will continue their growth trajectory, with IoT connections in Industrial accounting for 21% in 2030, growing from 17% in 2022 and Automotive accounting for 18% in 2030, growing from 15% in 2022, during the forecast period of 2022-30. In 2022, Industrial is the leading sector with 17% of the total IoT connections followed by Automotive and Utilities with 15% connections, respectively.

Gina Luk, Director of Enterprise Research at Strategy Analytics, added that “By 2030, 5G IoT connections will be dominated by Industrial and Automotive applications, with 28% and 21% 5G IoT connections respectively. Healthcare and Security applications will be the next largest market in 2030, accounting for a combined 20% of 5G IoT connections. The low latency benefits of 5G will allow IoT use cases where near-instantaneous communications are required, such as platooning of trucks in transportation, autonomous driving, low latency in manufacturing and areas like remote surgery in healthcare, where a surgeon could be conducting a surgery via robotics and virtual/augmented reality, even though not located in the operating theatre with the patient.”

Source: Strategy Analytics, Inc.

#SA_IOT

About Strategy Analytics

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

For more information about Strategy Analytics

Mobile Workforce Strategies: Click here
IoT Strategies: Click Here

Contacts

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

Staff

Recent Posts

Vision Products, LLC to Demonstrate Zero Distortion HMD at I/ITSEC 2024 in Booth 524

CAMPBELL, Calif.--(BUSINESS WIRE)--Vision Products, LLC, a leader in head/helmet mounted displays (HMDs) for military training…

7 hours ago

GRAMMY Museum® Expands GRAMMY Camp® to New York and Miami Beginning Summer 2025, Providing Greater Access to Aspiring Young Musicians and Creative Entrepreneurs Nationwide

LOS ANGELES--(BUSINESS WIRE)--The GRAMMY Museum® announced today the expansion of its acclaimed GRAMMY Camp® ,…

7 hours ago

Metinteractive Supports New Atrium Health Amphitheater in Macon, Georgia

Metinteractive, which provides strategic solutions for architecture, communication and technology, drew from its extensive experience…

8 hours ago

Mega Matrix Inc. Signs MOU with 9Yards Cinema Production to Establish A $100m Investment Fund for Global Short Drama and Pan-Entertainment Sector

SINGAPORE and ABU DHABI, UAE, Nov. 21, 2024 /PRNewswire/ -- Mega Matrix Inc. (NYSE American: MPU) today…

15 hours ago

Wondershare Filmora, Universal Music for Creators Team to Empower Video Editors with World-Class Recordings

VANCOUVER, BC, Nov. 21, 2024 /PRNewswire/ -- Wondershare Filmora, a leading video editing software, and…

15 hours ago

LetinAR Unveils First Mass-Produced AR Product Through Partnership with Japan’s Largest Telecom Group

SAN JOSE, Calif., Nov. 21, 2024 /PRNewswire/ -- LetinAR, a leader in optical technology for…

15 hours ago