Global 5G Internet of Things (IoT) Market, By Connection (Direct Connectivity, Indirect Connectivity), Radio Technology (5G NR Standalone Architecture, 5G NR Non-Standalone Architecture), Range (Short Range IoT Devices, Wide Range IoT Devices), Vertical (Manufacturing, Energy and Utilities, Government, Healthcare, Transportation and Logistics, Mining, Others) - Industry Trends and Forecast to 2030.
5G Internet of Things (IoT) Market Analysis and Size
The rise in infrastructure development activities and the growing prevalence of IoT devices globally are the major factors influencing the market growth rate. Furthermore, the surge in demand for low latent connectivity solutions and high volume of data traffic generation is the factor that will accelerate the growth of the 5G Internet of Things (IoT) market.
Moreover, the development of small infrastructure and growing demand for private 5G networks across enterprises, industries and governments will boost the beneficial opportunities for the 5G Internet of things (IoT) market growth.
However, the requirement of significant expenditure needed for the infrastructure development for the successful deployment and integration of 5G Internet of things (IoT) services are the factors that will hamper the 5G Internet of things (IoT) market growth. In addition, strict government regulations coupled with the issues related to the global spectrum will challenge the growth of the 5G Internet of Things (IoT) market.
The global 5G Internet of Things (IoT) market was valued at USD 56.06 billion in 2022 and is expected to reach USD 136.23 billion by 2030, registering a CAGR of 26.2% during the forecast period of 2023-2030. Direct connectivity are dominating the market due to its high capacity, wireless flexibility, and low-latency performance capabilities. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.
5G Internet of Things (IoT) Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Connection (Direct Connectivity, Indirect Connectivity), Radio Technology (5G NR Standalone Architecture, 5G NR Non-Standalone Architecture), Range (Short Range IoT Devices, Wide Range IoT Devices), Vertical (Manufacturing, Energy and Utilities, Government, Healthcare, Transportation and Logistics, Mining, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Qualcomm Technologies, Inc. (United States), Telefonaktiebolaget LM Ericsson (Sweden), Palo Alto Networks (United States), Anritsu (Japan), Telenor Group (Norway), Sierra Wireless (Canada), Syniverse Technologies LLC (United States), Nokia (Finland), Huawei Technologies Co., Ltd. (China), AT&T Intellectual Property (United States), Verizon (United States), Juniper Networks, Inc. (United States), Vodafone Idea Limited (India), Sprint (United States), BT (United Kingdom), Telefónica S.A. (Spain), Telstra (Australia), Bell Canada (Canada)
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Market Opportunities
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Market Definition
5G Internet of Things (IoT) is a branch of connectivity that deals with the higher-quality and faster interconnection of loT-based components, devices and systems. This technology ensures that there is minimal or no delay during device connectivity, hence increasing operational productivity and improving user experience.
Global 5G Internet of Things (IoT) Market Dynamics
Drivers
- Increasing technological advancements
Rapid advancements in technology, such as artificial intelligence (AI) and natural language processing (NLP), have significantly improved the accuracy and reliability of 5G Internet of Things (IoT) systems. These advancements enable better speech understanding, voice authentication, and real-time language translation, driving the adoption of these technologies in various industries.
- Increasing demand for voice-enabled devices
The rising popularity of voice-controlled smart speakers, virtual assistants, and mobile applications has created a strong demand for 5G Internet of Things (IoT) technologies. Consumers are increasingly using voice commands to interact with their devices, access information, and perform tasks, leading to the widespread adoption of 5G Internet of Things (IoT) solutions.
Opportunities
- Technological Advancements and Innovation
The increasing adoption of virtual assistants and smart speakers in various industries creates a demand for advanced speech recognition technologies. The continuous advancements in robotics technology, including developments in artificial intelligence, machine learning, and sensor technologies, present significant opportunities for the Global 5G Internet of Things (IoT) Market. These innovations enable robots to become more intelligent, versatile, and capable of handling complex tasks, expanding their application possibilities across various industries.
Restraints/Challenges
- Workforce Skill Enhancement and Retraining
The increasing adoption of industrial robots requires companies to invest in retraining and upskilling their workforce to adapt to the changing work environment. Employees must acquire new skills to collaborate effectively with robots, manage robotic systems, and perform tasks that complement and support robotic operations. Retraining programs and initiatives are crucial to ensure a smooth transition and maximize the benefits of industrial automation while safeguarding employment opportunities.
This Global 5G Internet of Things (IoT) Market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the 5G Internet of Things (IoT) Market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.
Recent Developments
- In April 2022, In October 2022, T Mobile, Cradlepoint, and Bosch collaborated to enable advanced loT connectivity solutions, such as autonomous vehicles, robotics, and AR/VR, using 5G Wireless WAN technology.
- In January 2022, Verizon and Atos partnered to power intelligent loT solutions with private 5G multi-access edge computing for consumers. The 5G edge solution will alter how companies influence predictive analytics. The solution will let them enhance operational efficiency, mitigate risk and increase revenue.
Global 5G Internet of Things (IoT) Market Scope
The global 5G Internet of Things (IoT) market is segmented based on connection, radio technology, range and vertical. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Connection
- Direct Connectivity
- Indirect Connectivity
Radio Technology
- 5G NR Standalone Architecture
- 5G NR Non-Standalone Architecture
Range
- Short Range IoT Devices
- Wide Range IoT Devices
Vertical
- Automotive
- BFSI
- Consumer
- Education
- Enterprise
- Government
- Healthcare
- Legal
- Military
- Retails
- Others
Global 5G Internet of Things (IoT) Market Regional Analysis/Insights
The Global 5G Internet of Things (IoT) Market is analysed, and market size insights and trends are provided by country, connection, radio technology, range and vertical as referenced above.
The countries covered in the global 5G Internet of Things (IoT) market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific is expected to dominate the 5G Internet of Things (IoT) market and will continue to flourish its trend of dominance during the forecast period due to the technological advancement and increase in the deployment of 4G and 5G networks in this region. North America will, however, register the highest CAGR for this period due to the large IoT device and module manufacturers and 5G network providers in this region.
The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of Europe brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global 5G Internet of Things (IoT) Market Share Analysis
The global 5G Internet of Things (IoT) market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to global 5G Internet of Things (IoT) market.
Some of the major players operating in the global 5G Internet of Things (IoT) market are:
- Qualcomm Technologies, Inc. (U.S.)
- Telefonaktiebolaget LM Ericsson (Sweden)
- Palo Alto Networks (U.S.)
- Anritsu (Japan)
- Telenor Group (Norway)
- Sierra Wireless (Canada)
- Syniverse Technologies LLC (U.S.)
- Nokia (Finland)
- Huawei Technologies Co., Ltd. (China)
- AT&T Intellectual Property (U.S.)
- Verizon (United States)
- Juniper Networks, Inc. (U.S.)
- Vodafone Idea Limited (India)
- Sprint (U.S.)
- BT (U.K.)
- Telefónica S.A. (Spain)
- Telstra (Australia)
- Bell Canada (Canada)
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