Top 10 Cellular IoT Companies | Best Network Technology

Tajammul Pangarkar
Tajammul Pangarkar

Updated · Jul 8, 2024

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Cellular IoT Market Overview

Cellular IoT companies utilize cellular networks like GSM, LTE, NB-IoT, and LTE-M to connect IoT devices such as smart meters, sensors, and industrial machines.

These devices use SIM cards for network access and leverage IoT platforms for management and analytics.

Cellular IoT companies offer extensive coverage, reliability, and scalability. Making it ideal for applications in smart cities, industrial automation, agriculture, and healthcare.

Future enhancements include integration with 5G networks for higher speeds and lower latency. Alongside advancements in edge computing and AI for enhanced data processing and decision-making capabilities.

Market Drivers

The global Cellular IoT market is driven by increasing demand for connected devices in the healthcare, manufacturing, and transportation sectors.

This growth is backed by reliable and widely available cellular networks. Including advanced technologies such as LTE-M and NB-IoT, which improve coverage and energy efficiency.

Moreover, the scalability of Cellular IoT solutions supports large-scale deployments of IoT devices, boosting market expansion.

Ongoing advancements in edge computing and AI are also expected to enhance Cellular IoT companies’ capability and applications, driving further innovation worldwide.

Market Size

The global cellular IoT market reached a value of USD 1,935.3 million in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 21.4% during the forecast period.

List of Major Companies

These are the top 10 companies operating in the Cellular IoT Market:


Company Overview

Establishment Year1876
HeadquarterKista, Stockholm, Sweden
Key ManagementRonnie Leten (Chairman)
Revenue (US$ Bn)$ 24.8 Billion (2022)
Headcount~ 100,000 (2023)

About Ericsson

Ericsson is actively advancing in Cellular IoT, utilizing 4G and 5G technologies for industry digitalization.

Recently, the company expanded its Cellular IoT vision with new segments like Broadband IoT and Industrial Automation IoT alongside existing Massive IoT and Critical IoT sectors.

These upgrades aim to support advanced applications such as autonomous vehicles and smart manufacturing.

Ericsson also improved its Massive IoT solutions, extending NB-IoT data connections up to 100km for enhanced rural IoT connectivity.

Additionally, Ericsson sold its IoT Accelerator and Connected Vehicle Cloud businesses to Aeris Communications.

Enhancing its IoT platform and creating new revenue opportunities. Collaborations with partners like Telstra and Audi highlight Ericsson’s dedication to driving IoT innovations and ensuring reliable connectivity solutions across industries.

Geographical Presence

Ericsson maintains a strong global presence, with key operations in North America, Europe (including its Swedish headquarters), Asia-Pacific, Latin America, and the Middle East and Africa.

In North America, the focus is on 5G and IoT technologies. While in Europe, Ericsson supports research and customer service across major markets like the UK, Germany, and France.

Across Asia-Pacific, from China to Australia, Ericsson leads in 5G innovation and digital transformation. In Latin America, offices in Brazil, Mexico, and Argentina drive mobile broadband initiatives.

The company also expands telecommunications infrastructure in the Middle East and Africa, including Saudi Arabia and South Africa. This global reach highlights Ericsson’s dedication to innovation and connectivity across diverse markets.

Recent Developments

  • In June 2024, Ericsson expanded its partnership with O2 Telefonica to enhance network infrastructure. Ensuring dependable connectivity and high performance for O2’s customers.
  • In June 2024, Ericsson collaborated with 2degrees to upgrade its microwave network in New Zealand. Enhancing capacity for higher data traffic and improving network performance.


Company Overview

Establishment Year1987
HeadquarterShenzhen, China
Key ManagementRen Zhengfei (CEO)
Revenue (US$ Bn)$ 99.0 B (2023)
Headcount~ 207,272 (2023)

About Huawei

Huawei is strengthening its position in Cellular IoT through key partnerships and technological advancements.

Recently, it signed a global licensing agreement with EDMI. Granting access to its essential patents for NB-IoT, LTE-M, and LTE Cat 1 technologies.

This aims to boost connectivity solutions in smart metering and other IoT applications. Huawei also joined the Sisvel Cellular IoT patent pool, expanding its support for LTE-M and NB-IoT technologies.

These efforts, alongside Huawei’s contributions to IoT standards and focus on enhancing network capabilities for remote connectivity. Aim to promote global IoT adoption and technological progress.

Geographical Presence

Huawei Technologies Co., Ltd. boasts a formidable global presence, with strongholds across Asia-Pacific, Europe, the Americas, and the Middle East/Africa regions.

Key markets include China, where it is headquartered. Along with significant operations in Europe’s major economies and a notable footprint in Latin America and the Middle East.

Despite challenges in the U.S. market, Huawei remains pivotal in telecommunications infrastructure globally.

Supported by extensive research centers, manufacturing facilities in China and Europe, and a broad sales and service network.

This expansive reach underscores Huawei’s resilience and strategic positioning in the competitive global technology landscape.

Recent Developments

  • In April 2024, Huawei and EDMI entered into a patent licensing agreement under fair, reasonable, and non-discriminatory (FRAND) terms.
  • In April 2024, Huawei launched Qiankun, a new software brand.


Company Overview

Establishment Year1865
HeadquarterEspoo, Finland
Key ManagementPekka Lundmark (CEO)
Revenue (US$ Bn)$ 24.1 Billion (2022)
Headcount~ 86,689 (2023)

About Nokia

Nokia is progressing in the Cellular IoT sector by leveraging its strong patent portfolio and enhancing IoT solutions for various industries.

Recently, Nokia has focused on improving IoT capabilities through new products and partnerships. For example, the company is integrating AI and machine learning into IoT applications, highlighted at the Mobile World Congress 2024.

Nokia has launched advanced IoT modules aimed at enhancing efficiency and connectivity in industrial settings.

Their Threat Intelligence Report 2023 underscores the importance of IoT network security, addressing emerging cyber threats with robust measures.

These efforts highlight Nokia’s dedication to innovating secure IoT solutions across diverse industry applications.

Geographical Presence

Nokia Corporation, headquartered in Espoo, Finland, maintains a global presence across Europe, North America, Asia-Pacific, the Middle East, Africa, and Latin America.

In Europe, it leverages strong ties with telecommunications operators. In North America, key offices in California and Texas drive innovation and support.

Asia-Pacific markets, including India and China, highlight Nokia’s leadership in telecommunications infrastructure.

In the Middle East, Africa, and Latin America, Nokia is expanding connectivity solutions. With a focus on 5G, IoT, and cloud services, Nokia’s global strategy underscores its role as a leading provider of telecommunications technology and digital transformation solutions.

Recent Development

  • In July 2024, Nokia and PLDT Inc. signed an agreement to deliver 5G services to Nokia’s corporate clients.
  • In June 2024, Nokia teamed up with Solis Tower Telecom do Brasil to introduce a versatile digital agriculture solution, enhancing connectivity for rural agribusinesses in Brazil.


Company Overview

Establishment Year1983
HeadquarterDallas, Texas, U.S.
Key ManagementJohn Stankey (CEO)
Revenue (US$ Bn)$ 122.4 Billion (2023)
Headcount~ 149,900 (2024)

About AT&T

AT&T Inc. is actively capitalizing in the Cellular IoT sector by enhancing its network capabilities and forming strategic partnerships. Recently, AT&T collaborated with Cisco to launch a 5G service specifically designed for IoT applications.

Which aims to provide faster speeds and lower latency for various industries such as manufacturing, transportation, and healthcare.

This initiative enhances the AT&T Control Center, offering real-time visibility and security features for IoT devices.

Additionally, AT&T continues to focus on expanding its IoT solutions by integrating 5G technology. Which supports advanced applications like autonomous vehicles and smart factories.

These developments reflect AT&T’s commitment to driving innovation and enabling massive IoT connectivity across different sectors, leveraging their extensive network infrastructure and technological expertise​​​​​​​​.

Geographical Presence

AT&T Inc., headquartered in Dallas, Texas, dominates the telecommunications landscape across the United States with comprehensive services spanning mobile, broadband, and television.

Its subsidiary, AT&T Mexico, extends its reach into Latin America by focusing on mobile services. While AT&T does not have direct operations in Europe, it supports European businesses through its global network capabilities.

In the Asia Pacific region, AT&T provides essential connectivity solutions and network services to multinational corporations.

Similarly, it serves businesses in the Middle East and Africa, leveraging its robust infrastructure to deliver reliable communication services.

This strategic approach reinforces AT&T’s position as a leading global telecommunications provider, emphasizing its strong presence in North America while facilitating international connectivity across diverse regions.

Recent Development

  • In May 2024, AT&T Inc. partnered with AST SpaceMobile to provide a satellite-based broadband network directly to mobile phones.
  • In August 2021, AT&T and Cisco launched 5G network enhancements to enhance performance for IoT applications nationwide in the US.


Company Overview

Establishment Year2000
HeadquarterBasking Ridge, New Jersey, U.S.
Key ManagementHans Vestberg (CEO)
Revenue (US$ Bn)$ 134.0 B (2022)
Headcount~ 105,400 (2023)

About Verizon

Verizon has been advancing in Cellular IoT companies, focusing on expanding and enhancing its network capabilities.

Recently, Verizon introduced a nationwide Narrowband IoT (NB-IoT) network covering over 92% of the U.S. population.

This network supports low-power, cost-effective IoT devices that are suitable for applications in smart cities, buildings, industrial monitoring, environmental sensing, agriculture, and asset tracking.

Additionally, Verizon has partnered with Amazon’s Project Kuiper to integrate low Earth orbit (LEO) satellite technology with its network, aiming to improve connectivity in remote areas.

These efforts underscore Verizon’s commitment to driving IoT innovation and expanding its presence in various sectors like agriculture, energy, manufacturing, and transportation.

Geographical Presence

Verizon Communications Inc. is a major player in telecommunications, primarily concentrated in the United States.

It boasts extensive coverage across all 50 states with advanced 4G LTE and 5G networks, supported by numerous retail stores and major offices in New York City and Basking Ridge, New Jersey.

Internationally, Verizon operates a global IP network, offering connectivity services and enterprise solutions to multinational corporations.

Strategic initiatives include aggressive 5G expansion in U.S. cities, digital transformation efforts, and strategic acquisitions like AOL and Yahoo to bolster its digital media capabilities.

Overall, Verizon maintains a strong domestic presence while strategically expanding its influence globally through innovation and strategic partnerships.

Recent Developments

  • In June 2024, Verizon Business teamed up with Monarch Tractor to enhance sustainable farming through Verizon’s network connectivity support.
  • In October 2021, Verizon and Amazon’s Project Kuiper partnered to create connectivity solutions for underserved communities using advanced low Earth orbit (LEO) satellites.


Company Overview

Establishment Year1991
HeadquarterNewbury, Berkshire, England, UK
Key ManagementMargherita Della Valle (CEO)
Revenue (US$ Bn)$ 39.7 Billion (2023)
Headcount~  84,173  (2024)

About Vodafone

Vodafone is strengthening its position in the Cellular IoT companies sector through strategic alliances and technological advancements.

Recently recognized by Gartner as a leader in Managed IoT Connectivity Services for the tenth consecutive year, Vodafone has partnered with Inmarsat to enhance international satellite and cellular roaming connectivity for IoT.

They’ve launched a Satellite IoT service, ensuring global coverage with high reliability and low power usage for industries like utilities and environmental monitoring.

Collaborating with AT&T, Vodafone is advancing IoT connectivity in automotive applications, focusing on 5G and autonomous vehicle technology. These efforts highlight Vodafone’s commitment to expanding IoT innovation across various sectors.

Geographical Presence

Vodafone Group Plc, a leading telecommunications company, maintains a robust global presence across Europe, where it operates prominently in the United Kingdom, Germany, Italy, Spain, the Netherlands, and Turkey.

In Africa, Vodafone is active in Egypt, South Africa, Ghana, Kenya, and Tanzania, focusing on mobile communications.

The company also has a notable footprint in the Asia-Pacific region, particularly in India and Australia. In the Americas, Vodafone operates through partnerships, with a presence in the United States and Canada.

Overall, Vodafone strategically positions itself in key markets worldwide, leveraging its extensive network infrastructure to serve diverse consumer and enterprise needs globally.

Recent Developments

  • In June 2024, Vodafone revealed intentions to sell an extra 3% share in Indus Towers to Bharti Airtel, a telecom services firm.
  • In June 2024, Vodafone sold an 18% stake in Indus Towers for EUR1.7 billion.


Company Overview

Establishment Year1924
HeadquarterMadrid, Spain
Key ManagementJosé María Álvarez-Pallete (CEO)
Revenue (US$ Bn)$ 44.0 Billion (2022)
Headcount~ 104,142 (2022)

About Telefónica

Telefónica is reinforcing its leadership in Cellular IoT companies through significant advancements and strategic collaborations.

Recognized for the tenth consecutive year in the 2024 Gartner Magic Quadrant for Managed IoT Connectivity Services, Telefónica is expanding its IoT offerings via Telefónica Tech.

Innovations like the Kite platform support diverse IoT connectivity technologies such as NB-IoT, LTE-M, and 5G, integrating AI for improved device management and anomaly detection.

Moreover, partnerships with IDEMIA and Quside aim to develop quantum-safe IoT connectivity, enhancing security against emerging quantum threats.

These efforts align with Telefónica’s strategy to leverage AI and quantum computing for enhanced IoT service delivery and security.

Geographical Presence

Telefónica, headquartered in Madrid, Spain, operates extensively across Europe, with major brands like Movistar in Spain and O2 in the United Kingdom.

In Latin America, it holds a significant market share through brands such as Vivo in Brazil, serving key countries like Argentina, Chile, Peru, Colombia, and Mexico. Telefónica Deutschland operates under the O2 brand in Germany, adding to its global reach.

Through strategic partnerships, Telefónica extends its influence into other regions, emphasizing network expansion and digital services to bolster its competitive edge worldwide.

Recent Developments

  • In June 2024, Telefónica Tech partnered with IBM to deploy AI, analytics, and data governance solutions, aiming to fulfill evolving enterprise requirements.
  • In May 2024, Telefónica Tech partnered with Microsoft to enhance global enterprise cybersecurity services.


Company Overview

Establishment Year1985
HeadquarterShenzhen, Guangdong, China
Key ManagementXu Ziyang (CEO)
Revenue (US$ Bn)$ 17.6 Billion (2022)
Headcount~ 74,811 (2022)

About ZTE

ZTE Corporation is actively expanding its presence in the Cellular IoT companies sector, focusing on leveraging advanced 5G technologies and forming strategic partnerships.

Recently, ZTE joined the Sisvel Cellular IoT Patent Pool, aligning with other industry leaders to streamline licensing and promote the adoption of NB-IoT and LTE-M standards.

This move aims to simplify the integration of essential IoT technologies, fostering innovation and reducing barriers for IoT device manufacturers.

Additionally, at the Mobile World Congress 2024, ZTE unveiled its latest 5G-A innovations, highlighting its commitment to enhancing 5G capabilities and supporting more efficient, low-power IoT solutions.

These advancements position ZTE as a key player in driving the future of IoT connectivity, emphasizing both technological innovation and strategic industry collaboration​​​​​​.

Geographical Presence

ZTE Corporation maintains a strong global presence, with key operations spanning across Asia-Pacific, Europe, the Americas, and the Middle East & Africa. In Asia-Pacific, it dominates its home market of China and extends its reach across Southeast Asia.

In Europe, ZTE operates in Western and Eastern regions, while in the Americas, it focuses on the United States and Latin America.

Additionally, the company has established itself in the Middle East, including key markets such as Saudi Arabia and the UAE, as well as various countries in Africa.

This extensive geographical footprint enables ZTE to deliver telecommunications infrastructure, 5G technology, and related services to a diverse international clientele effectively.

Recent Development

  • In July 2024, ZTE Corporation introduced its series of Nebula Telecom Large Model products.
  • In June 2024, ZTE Corporation launched a new portable WiFi hotspot, the U10L.


Company Overview

Establishment Year1985
HeadquarterSan Diego, California, U.S.
Key ManagementCristiano Amon (CEO)
Revenue (US$ Bn)$ 35.8 Billion (2023)
Headcount~ 50,000 (2023)

About Qualcomm

Qualcomm Incorporated is advancing Cellular IoT companies’ innovation with the introduction of the Qualcomm RB3 Gen 2 Platform at Embedded World 2024.

This platform enhances IoT and embedded applications through high-performance processing and AI capabilities.

Additionally, Qualcomm launched the Qualcomm Aware Platform to boost real-time supply chain visibility and intelligence, expanding its IoT ecosystem.

The company also debuted a new 5G IoT modem tailored for industrial IoT (IIoT), emphasizing its commitment to digital transformation across sectors.

These efforts underscore Qualcomm’s integration of AI and 5G technologies to support diverse IoT applications such as transportation, logistics, and smart cameras.

Geographical Presence

Qualcomm, based in San Diego, California, has a global presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East/Africa.

In North America, Qualcomm focuses on semiconductor design and telecommunications. In Europe, major offices in Munich and Cambridge drive technology development and market growth.

The Asia-Pacific region includes strategic locations like Beijing, Shanghai, Seoul, Bangalore, and Tokyo. In Latin America, Qualcomm is active in sales and support in Brazil and Mexico.

Globally, the company collaborates with telecommunications carriers and device manufacturers to deploy its technologies worldwide.

Recent Developments

  • In June 2024, Qualcomm broadened its collaboration with the Mercedes Formula One team to include the all-female F1 Academy series.
  • In May 2024, Qualcomm Technologies partnered with Ericsson and Dronus to explore a 5G millimeter wave-enabled drone.


Company Overview

Establishment Year1930
HeadquarterDallas, Texas, U.S.
Key ManagementHaviv Ilan (CEO)
Revenue (US$ Bn)$ 17.5 Billion (2022)
Headcount~ 34,000 (2023)

About Texas Instruments

Texas Instruments (TI) is advancing in the Cellular IoT companies sector with its enhanced SimpleLink™ family of WiFi 6 companion integrated circuits (ICs), featuring support for WiFi 6 and Bluetooth Low Energy 5.3.

These ICs are tailored for industrial IoT applications such as smart meters, electric vehicle chargers, and smart appliances, offering robust wireless connectivity and advanced security features like WPA3 encryption and secure boot functionality.

TI also expands its IoT cloud ecosystem through partnerships with over 30 companies, facilitating the development of diverse IoT applications.

With a focus on affordability and seamless integration, TI strengthens its position in the global IoT market, driving innovation and supporting widespread IoT deployments.

Geographical Presence

Texas Instruments Inc., headquartered in Dallas, Texas, USA, operates a global network of facilities to support its semiconductor design and manufacturing operations.

In North America, it maintains significant facilities in Texas, California, Maine, and New Hampshire. Across the Asia-Pacific, TI has a strong presence with manufacturing sites in China, India, and Japan, as well as offices in South Korea.

In Europe, key locations include Germany, Italy, Scotland, Norway, and Sweden, supporting both manufacturing and sales.

The company also serves markets in the Middle East, Africa, Latin America, and other regions like Australia and Canada, reinforcing its global reach and commitment to meeting regional market demands.

Recent Developments

  • In June 2024, Texas Instruments Inc. introduced a 650V three-phase GaN integrated power module (IPM) tailored for 250W motor drive applications.
  • In May 2024, Texas Instruments sold a stake to Elliott Investment Management for US$2.5 billion.
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Tajammul Pangarkar

Tajammul Pangarkar

Tajammul Pangarkar is a CMO at Prudour Pvt Ltd. Tajammul longstanding experience in the fields of mobile technology and industry research is often reflected in his insightful body of work. His interest lies in understanding tech trends, dissecting mobile applications, and raising general awareness of technical know-how. He frequently contributes to numerous industry-specific magazines and forums. When he’s not ruminating about various happenings in the tech world, he can usually be found indulging in his next favorite interest - table tennis.

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