Column: From the analysts...


Figure 1: Global IoT market forecast in billions of connected devices (excludes computers, laptops, tablets, and mobile and fi xed phones)


new investments in industrial IoT will continue to be limited. China has experienced renewed demand


for cellular IoT modules (driven largely by public projects), which has helped deplete domestic module oversupply. However, much of the world is still employing low- inventory strategies to avoid overstocking or ease it, and US sanctions on the import of Chinese-made chips continue. T ese strategies and sanctions limit the export of new IoT modules and chipsets, and in 2023 alone, some 11,000 Chinese chip and module-related companies ceased operations due to this.


Connectivity types T ere are three main connectivity types that dominate the market: Wi-Fi, with a 32% share, Bluetooth, with a 24% portion, and cellular IoT, with a 22% share. T e cellular IoT market remains highly


concentrated, with China’s three main operators (China Mobile, China Telecom and China Unicom) accounting for 83% of all cellular IoT connections globally last year. “Cellular IoT is splitting into two tracks:


Cat-1 and Cat-1 bis take the volume as 2G and 3G shut down, driven by low cost and broad coverage. Revenue is dominated by high-bandwidth 5G. RedCap is positioned to replace LTE Cat-4. It off ers similar throughput with lower complexity and power consumption, making it suitable for


cameras, wearables and video telemetry. NB-IoT and LTE-M face competition from Cat-1 bis. NB-IoT is entering maturity as some operators retreat, potentially slowing growth without new anchor deployments. T e open question is how eRedCap’s target use cases will fi t within multi-connectivity cellular strategies,” said Satyajit Sinha, Principal Analyst at IoT Analytics.


1. Wi-Fi Wi-Fi makes up 31% of all IoT connections. In 2023, three quarters of Wi-Fi-enabled devices shipped were based on the latest Wi-Fi 6 and Wi-Fi 6E technologies, which promise faster and more reliable wireless connectivity than its predecessors. T e adoption of these technologies has made communication between IoT devices more effi cient, leading to improved user experiences and overall performance. Wi- Fi technology is leading IoT connectivity in sectors like smart homes, buildings and healthcare. Further, Wi-Fi 7 started to ship in 2024 and is expected to contribute to 7% of overall IoT-based Wi-Fi shipments.


2. Bluetooth Some 25% of connected IoT devices worldwide rely on Bluetooth. Bluetooth Low Energy (BLE), also known as Bluetooth Smart, has been continuously developed to allow IoT devices to maintain reliable connectivity whilst consuming low power. As a result,


BLE is now the preferred option for battery-powered IoT devices such as smart home sensors and asset tracking devices. Even the industrial sector is starting to show increasing interest in IO-Link wireless technology, which is based on IEEE 802.15.1 (the technical standard for Bluetooth), enabling wireless communication between sensors/actuators and an I/O master.


3. Cellular IoT Cellular IoT (2G, 3G, 4G, 5G, LTE-M, and NB-IoT) now makes up nearly 21% of global IoT connections. Global cellular IoT connections continue to grow year on year. T is is due to the adoption of newer technologies, including LTE-M, NB-IoT, LTE-Cat 1, and LTE Cat 1 bis, as older ones such as 2G and 3G are being phased out. Furthermore, 2024 marked the


introduction of 5G RedCap technology. Unlike time-critical applications demanding stringent latency, RedCap- enabled IoT devices prioritise aff ordability and reduced complexity. With download speeds up to 150Mbps, upload speeds of 50Mbps, and latency under 100ms, RedCap is propelling growth in consumer, enterprise and industrial IoT devices. Notably, its suitability for high-quality video transmission is driving its adoption in video surveillance, off ering a cost- eff ective alternative to standard 5G.


www.electronicsworld.co.uk November 2025 09


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