Global cellular IoT connections surpassed 4 billion in 2024, driven by 5G and LTE Cat 1 bis

In shortGlobal cellular IoT connections reached 3.9 billion in H1 2024, according to IoT Analytics’ updated .Based on ongoing tracking and analysis, cellular IoT connections have surpassed 4 billion as the end of 2024 approaches, representing approximately 22% of global overall IoT connections.Connections are expected to grow at a CAGR of 15% between 2024 and 2030, driven by LTE Cat 1 bis and 5G.Notable mobile operators that gained market share in H1 year-over-year include China Telecom, Airtel, KDDI, LG U+, Orange, and Verizon.Why it mattersFor mobile operators: With cellular IoT connectivity gaining market share of the overall IoT connections worldwide and LTE Cat 1 bis and 5G driving growth, mobile operators should learn from successful peers.For chipset, module, and device producers:Cellular IoT connectivity is on the rise, and chipset, module, and device producers should consider their relationships with mobile operators to expand market reach and ensure smooth integration with ne...