Global IoT Devices to Reach 12.3 Billion in 2021

According to IoT Analytics, despite the impact of COVID-19 and the semiconductor shortage, the number of IoT devices is set to grow 9% to 12.3 billion in 2021, and with projected average annual growth of 22%, it is expected to reach 27.1 billion by 2025.

Cellular IoT devices in particular surpassed 200 million in the first half of 2021. The number of 2G/3G-based cellular devices is gradually declining, LTE-Cat 1-based devices are expanding, and 5G is expected to grow steadily starting next year.

Looking at the LPWA market in 2020, unlicensed-band LoRa and Sigfox held a combined 53% market share while licensed-band NB-IoT and LTE-M accounted for 47%. In 2021, however, the number of licensed-band LPWA devices has grown, with devices using licensed spectrum now accounting for 54% and devices using unlicensed spectrum for 46%.

NB-IoT networks rank first with 44% of the LPWA market, followed by LoRa networks at 37%, and NB-IoT and LoRa are expected to lead the market over the next five years.