The cellular IoT market was valued at $1,145.2 million in 2017, and is expected to register a compound annual growth rate of of 26.7% through 2026, according to a report by Persistence Market Research.
The release of 3GPP-standards-based IoT networks, as well as an increase in smart city projects and demand for connected devices across numerous verticals are all contributing to the rising market value of cellular IoT.
While LTE-M and NB-IoT cellular technologies support low-power applications like sensors for water meters, assets tracking and stop lights, NB-IoT, unlike LTE-M, uses Direct Sequence Spread Spectrum (DSSS) modulation instead of LTE radios, making it more costly to deploy.
