The North America Cellular IoT Market is expected to witness market growth of 24.9% CAGR during the forecast period (2024-2031).
The US market dominated the North America Cellular IoT Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $7.26 billion by 2031. The Canada market is experiencing a CAGR of 27.4% during 2024-2031. Additionally, the Mexico market is expected to exhibit a CAGR of 26.5% during 2024-2031.
The cellular IoT rapidly transforms industries and societies by enabling billions of devices and objects to communicate through cellular networks, such as 4G, 5G, and beyond. As a subset of the broader IoT ecosystem, cellular IoT is uniquely positioned to provide reliable, scalable, and secure connections across diverse applications, from smart cities to healthcare.
The growth of this market is fuelled by its wide-ranging applications across various industries, growing adoption rates, and continuous technological innovations. This transformation reshapes how businesses and governments manage resources, improve efficiency, and enhance customer experiences. As these technologies evolve, they open up new frontiers in automation, remote monitoring, real-time analytics, and intelligent decision-making.
In Canada, the computer and electronic manufacturing sector saw an 8.1% revenue increase in 2021, reaching $15.5 billion, while total industry revenues also grew by 8.1% from $16.3 billion in 2020 to $17.9 billion. The growth in this sector directly impacts this market, as advancements in electronics manufacturing create opportunities for the development of IoT devices and connected solutions. Moreover, the retail sector in Mexico is valued at approximately USD 76 billion, with more than 47,000 retail stores nationwide. A dominant player like Walmart de Mexico accounts for a substantial share of supermarket sales. This growing retail market presents a significant opportunity for these solutions, as retail businesses increasingly rely on connected devices to manage inventory, track shipments, optimize supply chains, and enhance customer experiences. Therefore, both countries’ growing sectors - Canada’s electronics manufacturing and Mexico’s retail industry - are laying the groundwork for increased cellular IoT adoption.
The US market dominated the North America Cellular IoT Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $7.26 billion by 2031. The Canada market is experiencing a CAGR of 27.4% during 2024-2031. Additionally, the Mexico market is expected to exhibit a CAGR of 26.5% during 2024-2031.
The cellular IoT rapidly transforms industries and societies by enabling billions of devices and objects to communicate through cellular networks, such as 4G, 5G, and beyond. As a subset of the broader IoT ecosystem, cellular IoT is uniquely positioned to provide reliable, scalable, and secure connections across diverse applications, from smart cities to healthcare.
The growth of this market is fuelled by its wide-ranging applications across various industries, growing adoption rates, and continuous technological innovations. This transformation reshapes how businesses and governments manage resources, improve efficiency, and enhance customer experiences. As these technologies evolve, they open up new frontiers in automation, remote monitoring, real-time analytics, and intelligent decision-making.
In Canada, the computer and electronic manufacturing sector saw an 8.1% revenue increase in 2021, reaching $15.5 billion, while total industry revenues also grew by 8.1% from $16.3 billion in 2020 to $17.9 billion. The growth in this sector directly impacts this market, as advancements in electronics manufacturing create opportunities for the development of IoT devices and connected solutions. Moreover, the retail sector in Mexico is valued at approximately USD 76 billion, with more than 47,000 retail stores nationwide. A dominant player like Walmart de Mexico accounts for a substantial share of supermarket sales. This growing retail market presents a significant opportunity for these solutions, as retail businesses increasingly rely on connected devices to manage inventory, track shipments, optimize supply chains, and enhance customer experiences. Therefore, both countries’ growing sectors - Canada’s electronics manufacturing and Mexico’s retail industry - are laying the groundwork for increased cellular IoT adoption.
List of Key Companies Profiled
- Cisco Systems, Inc.
- Semtech Corporation
- Microsoft Corporation
- Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
- AT&T Inc.
- Ericsson AB
- Qualcomm Incorporated (Qualcomm Technologies, Inc.)
- Vodafone Group Plc
- PTC Inc.
- Samsung Electronics Co., Ltd. (Samsung Group)
Market Report Segmentation
By End Use- Automotive & Transportation
- Healthcare
- Agriculture
- Consumer Electronics
- Energy
- Smart Cities
- Environment Monitoring
- Retail
- Other End Use
- Hardware
- Software
- 4G
- 5G
- 3G
- 2G
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. North America Cellular IoT Market by End Use
Chapter 6. North America Cellular IoT Market by Component
Chapter 7. North America Cellular IoT Market by Technology
Chapter 8. North America Cellular IoT Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- Cisco Systems, Inc.
- Semtech Corporation
- Microsoft Corporation
- Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
- AT&T Inc.
- Ericsson AB
- Qualcomm Incorporated (Qualcomm Technologies, Inc.)
- Vodafone Group Plc
- PTC Inc.
- Samsung Electronics Co., Ltd. (Samsung Group)
Methodology
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