5G IoT Market Size
[170+ Pages Research Report] to surpass USD 63.23 billion by 2030 from USD 1.56 billion in 2020 at a CAGR of 74.85 % in the coming years, i.e., 2021-30.
The ICT industry would benefit greatly from the commercial implementation and service of 5G. Huge Internet of Things (IoT) networks would be one of them, referring to the ability to install and operate IoT applications on a wide scale. As the size of IoT systems grows to a large scale, their effect on enterprise systems and consumers' daily lives will grow as well. 5G will optimize IoT networks by radio frequency management, which will meet the needs of both narrowband and higher-bandwidth IoT devices, which will be available on-demand in the 5G IoT industry.
Market Highlights
Global 5G IoT market is expected to project a notable CAGR of 74.85% in 2030.
In the efforts to maintain intense competition environments, many vertical industries are concentrating more aggressively on technological changes to improve ultimate productivity and operational efficiency. 5G wireless technology has the potential to support notable vertical transformations by reducing overall cost and increasing profitability. Further emphasis will continue on enhancing energy monitoring and management as well as better access to the network for energy production and distribution over the projected timeframe.
Global 5G IoT Market: Segments
Manufacturing segment to grow with the highest CAGR during 2020-30
Global 5G IoT market is segmented by End-user into Manufacturing, Healthcare, Energy and Utilities, Automotive and Transportation, Supply Chain and Logistics, Government and Public Safety, Agriculture and Others. The manufacturing segment of the 5G IoT market is expected to have a larger market size during the forecast period, based on the end-user. With Industry 4.0 in full swing, 5G's high bandwidth, wireless versatility, and low-latency performance capabilities have accelerated the growth of smart factories of the future. Manufacturers are adopting digitalization to reduce costs and improve ROI, and 5G IoT ensures new process efficiencies and cutting-edge technical advances, resulting in increased profitability and shop floor productivity. Cyber-physical systems and the Internet of Things are projected to power Industry 4.0, which would necessitate the use of 5G networks. Future factories will be more effective, linked, and scalable as a result of this.
5G NSA segment to grow with the highest CAGR during 2020-30
Global 5G IoT is divided by network type into 5G Standalone (SA) and 5G Non-standalone (NSA). The 5G NSA radio network is a brand-new radio network for 5G networks. The 5G Radio Access Network (RAN) and 5G core networks are the two main components. 5G NSA solutions are expected to outperform 5G NSA solutions in terms of efficiency. The 5G NSA solutions have a number of new features. Network slicing, ultra-low latency, Control and User Plane Separation (CUPS), multi-Gbps support, and virtualization are some of the latest built-in capabilities. The 5G NSA market is still in its infancy. During the forecast period, it is expected to rise at an exponential rate.
Market Dynamics
Drivers
Increased manufacturing demand and technology acceptance
By incorporating protection into the network architecture, increased demand for manufacturing and acceptance of this technology would not only provide stable networks, but also fantastic safe connections for Industrial IoT. Other factors driving market growth include an increase in demand for processing data collected through sensors, analyzing, and real-time monitoring of business operations and other activities across a variety of industrial sectors. Additionally, providing backing operations that need real-time access to data changes instantly, as well as increased demand for ultra-low latency from a variety of industries, are some of the factors driving the market growth.
Increased demand of IoT in the autonomous sector
As autonomous vehicles, progress from testing to commercial deployment, demand for 5G IoT devices is expected to rise over the forecast period. At the same time, incumbents in the energy and utility industries are eager to embrace the latest technologies to simplify energy generation and distribution processes, which is expected to drive the demand for IoT devices that support next-generation frequencies in order to provide improved performance.
Restraint
High investment cost as well as government regulations
The significant investment needed to develop a stable 5G network infrastructure could stymie the market. Furthermore, government regulations and other network connectivity-related issues could pose significant challenges to the market in the coming years.
Global 5G IoT Market: Key Players
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Airtel India
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
- Vodafone Limited
- China Mobile Limited
- Nokia
- Deutsche Telekom AG
- SAMSUNG
- Vodafone Limited
- Intel Corporation
- AT & T Intellectual Property
- Other Prominent Players
Global 5G IoT Market: Regions
Global5G IoT market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Global 5G IoT in APAC held the largest market share in the year 2020. In terms of the implementation of emerging technology across various industries, the area is undergoing rapid transformation. The increasing deployment of 4G and 5G networks in APAC, especially in Japan, South Korea, Australia, Singapore, China, and India, presents huge opportunities for the implementation of 5G IoT services. Because of the region's large mobile subscriber base, businesses are becoming more innovative and concentrating on providing quality customer service.
Global5G IoT Market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global 5G IoT Market report also contains analysis on:
5G IoT Market Segments:
- By Network type:
- 5G Standalone (SA)
- 5G Non-standalone (NSA)
- By End-user:
- Manufacturing
- Healthcare
- Energy and Utilities
- Automotive and Transportation
- Supply Chain and Logistics
- Government and Public Safety
- Agriculture
- Others
- 5G IoT Market Dynamics
- 5G IoT Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
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