The global 5G Internet Of Things Market size is expected to reach USD 89.42 billion by 2030, registering a CAGR of 50.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth can be ascribed to improved dependability, decreased latency, expanded capacity, and network speeds of 5G internet of things (IoT). It may also automate corporate operations and enable end-to-end communication. Manufacturers are aggressively adopting novel technologies such as IoT, AI & machine learning, and cloud computing & analytics into their manufacturing facilities and operations as part of this revolution. This has increased the demand for 5G technology with low latency and greater speeds for the successful use of wearables, autonomous robotics, and virtual reality (VR) headsets.
Private
5G networks are expected to play a significant role in the growth of the
5G IoT industry. These networks provide dedicated high-speed connectivity,
offering greater reliability, security, and control compared to public
networks. In particular, private 5G networks will be critical for industries
such as manufacturing, logistics, and healthcare, where high-bandwidth,
low-latency connectivity is essential for real-time applications and services.
Moreover, private 5G networks can enable automation and robotics, allowing for
more efficient and cost-effective operations.
The
increasing proliferation of 5G networks which are being deployed by
telecommunication companies across the globe is a significant factor driving
the market growth. As 5G networks become more widely available, businesses and
consumers will increasingly adopt 5G-enabled IoT devices, leading to further
investment in this market. Additionally, the integration of artificial
intelligence (AI) and machine learning (ML) with 5G IoT devices is expected to fuel
investment, as these technologies can enable predictive analytics and automated
decision-making, further enhancing the capabilities of IoT systems.
The
outbreak of the COVID-19 pandemic positively impacted the market. The pandemic
has highlighted the importance of connectivity and the need for robust and
reliable networks. As more countries begin to emerge from the pandemic and the
rollout of 5G infrastructure resumes, demand for IoT devices is expected to
increase. Additionally, the development of new 5G-enabled applications, such
as remote healthcare and autonomous vehicles, could further
drive the market’s growth.
List of Key Players in 5G Internet of
Things (IoT) Market
- Nokia Corporation
- TELEFONAKTIEBOLAGET LM ERICSSON
- ZTE Corporation
- AT&T INC.
- Huawei Technologies Co., Ltd.
- Verizon Communications Inc.
- Thales Group
- Vodafone Group Plc.
- China Mobile Limited
- Microsoft Corporation
Related Press
Release@ 5G
Internet of Things (IoT) Market Report
5G Internet of Things Market Report Highlights
- The hardware
segment dominated the market in 2022 owing to the growing demand for 5G
connectivity for industrial IoT applications and the aggressive
investments by module or component manufacturers in the research and
development of 5G-enabled devices
- The massive
IoT segment dominated the market in 2022 as it facilitates connectivity
between a large number of low-power IoT devices that require lower data
rates and long battery life
- The 5G
standalone segment is projected to grow at the highest CAGR over the forecast
period owing to several benefits over 5G non-standalone (NSA) networks,
including better network performance, lower latency, and improved security
- The smart
cities segment is expected to grow significantly over the forecast period
owing to the increasing deployment of connected sensors and devices,
including smart lighting, traffic sensors, and waste management systems in
smart cities
- Asia Pacific
dominated the regional market in 2022. The spread of 5G mobile connections
throughout the region is anticipated to significantly contribute to
driving the growth
5G Internet of Things (IoT) Market Report
Scope
|
Report Attribute |
Details |
|
Market
size value in 2023 |
USD 5.18
billion |
|
Revenue
forecast in 2030 |
USD 89.42
billion |
|
Growth
rate |
CAGR of
50.2% from 2023 to 2030 |
|
Base year
of estimation |
2022 |
|
Historical data |
2020 - 2021 |
|
Forecast period |
2023 - 2030 |
Related Reports@
5G Internet of Things Market Segmentation
Grand
View Research has segmented the global 5G internet of things market based on
component, IoT connectivity, network architecture, vertical, and region:
5G IoT Component Outlook (Revenue, USD Billion, 2020 -
2030)
- Hardware
- Software
- Services
- Integration
& Installation
- Network
Connectivity Services
- Training
& Consulting
- Support
& Maintenance
5G IoT Connectivity Outlook (Revenue, USD Billion, 2020 -
2030)
- Sub-Massive
IoT
- Broadband
IoT
- Critical IoT
- Industrial
Automation IoT
5G IoT Network Architecture Outlook (Revenue, USD
Billion, 2020 - 2030)
- 5G
Non-Standalone
- 5G
Standalone
5G IoT Vertical Outlook (Revenue, USD Billion, 2020 -
2030)
- Manufacturing
- Smart Cities
- Energy &
Utilities
- Transportation
& Logistics
- Enterprises/Corporates
- Healthcare
- Oil &
Gas
- Others
5G IoT Regional Outlook (Revenue, USD Billion, 2020 -
2030)
- North
America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Latin
America
- Brazil
- Mexico
- Middle East
& Africa
- Kingdom of Saudi
Arabia
- UAE
- South
Africa
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
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