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Study: Cellular IoT device growth will hit 530M by 2022

April 4, 2017

New Berg Insight research predicts cellular Internet of Things device shipments will hit 530.1 million by 2022, with an annual growth rate of 22.7 percent.

That's a healthy jump from 155.6 million units shipped in 2016, noted a press release on the research report.

"Strong growth is fueled by fast-growing demand in China and the global adoption of connected car technology in the automotive industry," states the release.

"LTE-M and NB-IoT are the latest in a long line of cellular standards already connecting hundreds of millions of devices worldwide," Tobias Ryberg, senior analyst and author of the report, said in the release. "Alternative non-cellular LPWA technologies have a very long way to go before they achieve the same prominence."