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The global IoT roaming market was valued at USD 2 billion in 2023 and grew at a CAGR of 20% from 2024 to 2033. The market is expected to reach USD 12.38 billion by 2033. The rapid globalization, automation and digitization will drive the growth of the global IoT roaming market.
IoT (Internet of Things) roaming means IoT devices network connection and functionality after the transition from one geographical area or one network area to another. This capability is very important when the IoT devices are used worldwide or over large geographical areas. The key and crucial concept of IoT roaming is in its ability to change the network operator providers and stay connected during this process. Traditional mobile roaming is based on voice and data services, while IoT is more specifically targeted towards efficient, power- and bandwidth-constrained, data transmissions, mostly used for connecting devices to the cloud, for sensors and monitoring applications. To this end, IoT roaming leverages the existing network standards, such as LTE-M, NB-IoT, and 5G, which enable low power, low bandwidth, and wide area connectivity. IoT roaming has been driven by many factors such as the increasing need for companies to establish IoT solutions across various areas of the world without having to deal with having to manage a number of local SIMs or networks. IoT roaming is designed to allow the devices to be automatically connected to the network which is most efficient in a certain environment to reduce costly connectivity and to ensure that the information exchange is done effectively. Furthermore, IoT roaming is beneficial to businesses since they do not require much physical infrastructure in new markets or geographical regions in which to place their devices.
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The increased adoption of IoT devices across various industries – Since IoT solutions are being used at an unparalleled rate and expansion into various industries is imminent, IoT solutions are being implemented on an international level by companies. Regardless of objectives, which range from tracking company assets to monitoring pieces of equipment to capturing data on the environment, these devices are frequently used across different areas or even countries. The task of managing connectivity for IoT devices in such varied territories is not easy; more so, when incorporating different network operators, different regulations, and different network types. IoT roaming thus fulfils this task effectively as a reliable and cheaper way of making sure that devices switch to an optimal available network irrespective of location. From a business standpoint, this makes everything far easier than having to take care of multiple local SIM cards and confusing network arrangements. It also removes opportunities for additional costs like the roaming fees and administration overhead. Since more companies consider enlarging the Internet of Things environments at a global scale, the need for IoT roaming appears worldwide, thereby driving the market’s growth.
High roaming costs – The costs for utilizing data transmission across borders tend to be high among the traditional mobile operators. This will put the costs high in large scale IoT applications where devices need to communicate frequently with centralized systems. For businesses that have IoT devices that are running globally, the roaming costs can also be prohibitive depending on the distance of the transmission or the location where the device is communicating. These high roaming costs are controlled by several factors. First, to provide international data services mobile operators have to charge higher tariffs since international services often require extra equipment and international agreements between operators from different countries. Second, IoT devices generate small and continuous data packets which while using minimum bandwidth can result in huge cost if transmitted through many networks. Third, some IoT application areas, especially logistics, agriculture, and healthcare, need connectivity as often as possible since the data is usually collected in real-time, and this enormously boosts roaming costs. therefore, the high roaming costs will hinder the market’s growth.
Advancements in 5G networks – Due to the increased data rates, reduced latency and increased capacity, 5G networks are well suited for the increasing number of IoT devices that require faster and more reliable connections. 5G is basic on the much larger scale of IoT connectivity than previous technologies such as 4G which makes 5G ideal for industries that must create large IoT networks in multiple regions. IoT solutions, especially those which are based on active data streaming, like self-driving cars, remote health care, and advanced industrial systems benefit from the 5G system’s ability to minimize latency and improve system throughput. Moreover, 5G can handle more devices per square km, which is crucial when IoT gadget deployment scales up. Furthermore, network slicing provision by 5G means that the connectivity requirements of a business can be tailored accordingly. This level of flexibility enhances the need for 5G network in IoT deployments across the world. Therefore, the advancements in 5G will contribute to the global IoT roaming market’s growth and development during the forecast period.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant global IoT roaming market, with a 35% market revenue share in 2023.
North America is the largest market in IoT roaming market due to well-developed infrastructure and high level of IoT integration along with continuous advancement in the technology. The region has key players of the market supporting IoT applications by investing largely in 4G, 5G, and LPWAN infrastructure. These providers deliver sustainable solutions that meet the complex requirements of companies that use IoT across the globe. Being one of the most technologically connected areas North America has witnessed the IoT growth in pretty much all the sectors such as healthcare, automotive, agriculture and logistics industries. North America is also one of the leaders in the adoption of new innovative technology like self-drive cars, smart city, IIOT and this new innovation requires high speed and low latency connectivity which IoT roaming services offer. Furthermore, it is evident that the region offers favourable legal standards and IoT has great acceptance in government and several private industries across the region.
North America Region IoT Roaming Market Share in 2023 - 35%
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The connectivity technology segment is divided into 2G, 3G, 4G, 5G, NB-IoT (Narrowband IoT), LTE-M, LoRaWAN and Sigfox. The 5G segment dominated the market, with a market share of around 45% in 2023. It delivers much higher Internet speed and a substantially lower latency than its predecessors to accommodate tremendous amounts of data and increased connectivity demands imperative in IoT solutions. 5G is poised to drive IoT deployment in healthcare, automotive, smart city, industrial and other sectors where high-performance, secure and global roaming possibilities are critical. A key advantage of 5G that apparently contributed significantly to its use in IoT roaming is that of low latency which can be below one millisecond. This is particularly important for applications for which a latency of one or even several microseconds is critical, for instance, for autonomous cars, tele-surgeries and industrial robots. Besides, due to the high bandwidth in 5G, devices in the internet of things can transfer large amounts of data in the shortest time possible without straining the network. 5G possesses network slicing which offers more flexibility, reliability and security for IoT devices. The technology is quickly becoming the cornerstone for efficient, optimized and high performing IoT roaming making the technology a foundational element for IoT roaming in the future.
The application segment is divided into asset tracking and fleet management, smart cities, industrial IoT (IIoT), healthcare and remote monitoring, agriculture, retail and supply chain management, and automotive and transportation. The automotive and transportation segment dominated the market, with a market share of around 26% in 2023. This is attributed to the growing dependence on connected car technologies, fleet optimization solutions, as well as driverless car systems – all of which essentially demand ubiquitous connectivity to enable real-time data sharing. IoT roaming enables all of the relevant components in keeping connected as vehicles travel within borders or across regions within different networks. The use IoT roaming has expanded by the advancement of electric vehicles (EVs), autonomous vehicles and smart transportation systems. These innovations are wholly dependent on constant communication between the cars they represent, the road systems they are connected to, and cloud systems for optimal operation. The changing nature of automobiles towards connected and autonomous vehicles make automotive and transportation one of the biggest growth drivers for the IoT roaming market.
The roaming provider type segment is divided into mobile network operators (MNOs), mobile virtual network operators (MVNOs), and global IoT connectivity providers. The global IoT connectivity providers segment dominated the market, with a market share of around 38% in 2023. These providers avoid the numerous challenges associated with IoT deployment across national borders as they provide a single point through which IoT devices can interface with various international MNOs. Rather than have different network agreements with local carriers in different countries, businesses may approach the IoT connectivity providers who offer various networks and give the business a consolidated deal for their connectivity requirements. This simplifies operations, decreases costs, and provides reliable connectivity, which makes it an important IoT roaming provider. Additionally, they make solutions that are appropriate for business of all sizes. They offer a range price structures which enable organizations to balance their costs. In addition, unique services being offered by the global IoT connectivity providers include a customized connectivity feature such as eSIM, an easy-to-swap technology that enables devices to switch from one network to another without disconnecting. This makes it easier for businesses to manage their operations with flexibility, therefore reducing their downtime.
The deployment mode segment is divided into cloud-based IoT roaming and on-premises IoT roaming. The cloud-based IoT roaming segment dominated the market, with a market share of around 57% in 2023. Centralization through cloud-based deployment makes it easy for businesses to manage their operations effectively, reduce the complexity of their networks, and, therefore, cut the cost of installing infrastructure. Secondly, another larger advantage which cloud platforms provide is scalability. While IoT networks scale, businesses find it convenient to integrate, improve, or expand their cloud systems to support more data and connecting devices without extensive redesigning of their systems.
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2023 | USD 2 Billion |
| Market size value in 2033 | USD 12.38 Billion |
| CAGR (2024 to 2033) | 20% |
| Historical data | 2020-2022 |
| Base Year | 2023 |
| Forecast | 2024-2033 |
| Region | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East and Africa. Furthermore, the regions are further analyzed at the country level. |
| Segments | Connectivity Technology, Application, Roaming Provider Type and Deployment Mode |
As per The Brainy Insights, the size of the global IoT roaming market was valued at USD 2 billion in 2023 to USD 12.38 billion by 2033.
Global IoT roaming market is growing at a CAGR of 20% during the forecast period 2024-2033.
The market's growth will be influenced by the increased adoption of IoT devices across various industries.
High roaming costs could hamper the market growth.
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global IoT roaming market based on below mentioned segments:
Global IoT Roaming Market by Connectivity Technology:
Global IoT Roaming Market by Application:
Global IoT Roaming Market by Roaming Provider Type:
Global IoT Roaming Market by Deployment Mode:
Global IoT Roaming Market by Region:
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