5G IoT Market 2030 by Component Type (Hardware, Platform, Connectivity, and Services), Application (Enterprise and high-speed industrial networking, Industries (Agriculture, Healthcare and Logistics, and Others) and Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits

Industry : Information Technology | Pages : 149 Pages | Published On : Apr 2024

         
     

The 5G IoT Market was valued USD 3.50 Billion in 2022 and projected to reach USD 171.4 Billion by 2030, growing at a CAGR of 62.47% during the forecast period of 2023-2030.

5G IoT Market Size


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             2019                         2023-2030      

ReportDetails
Market Size ValueUSD 3.50 Billion in 2022
Market Size ValueUSD 171.4 Billion by 2030
CAGRCAGR of 62.47%
Forecast Period2023-2030
Historic Data2019
Segments CoveredComponent Type, Application, Industries and Region
Geographics CoveredNorth America, Europe, Asia Pacific, and RoW

Major vendors in the global 5G IoT Market are Telefonaktiebolaget LM Ericsson, Qualcomm Technologies, Inc., Cisco Systems, Inc., Huawei Technologies, Nokia, Intel Corporation, Verizon, AT&T, and Others.

Market Overview

The 5G IoT market is experiencing rapid growth and innovation as the deployment of 5G networks becomes more widespread. With the promise of ultra-fast speeds, low latency, and high reliability, 5G technology is unlocking new opportunities for the Internet of Things (IoT) across various industries. This next-generation connectivity is expected to revolutionize IoT applications by enabling real-time data processing, enhanced automation, and seamless connectivity for a wide range of devices, from smart home appliances to industrial sensors and autonomous vehicles. As a result, businesses are increasingly investing in 5G-enabled IoT solutions to capitalize on the transformative potential of these technologies, driving the expansion of the 5G IoT market globally.

The 5G IoT market is witnessing significant investments from telecommunications companies, technology vendors, and enterprises looking to leverage the benefits of 5G connectivity for IoT deployments. These investments are fueling the development of new 5G-enabled devices, platforms, and applications tailored to specific industry needs, such as smart cities, healthcare, manufacturing, transportation, and agriculture. Additionally, governments and regulatory bodies are playing a crucial role in shaping the 5G IoT market landscape by supporting infrastructure development and establishing regulatory frameworks to facilitate the deployment of 5G networks and IoT solutions. However, challenges such as security concerns, interoperability issues, and the need for skilled professionals remain key factors influencing the growth trajectory of the 5G IoT market. Overall, the convergence of 5G and IoT technologies is driving innovation, transforming industries, and paving the way for a more connected and intelligent future.

Expanded High Internet Connectivity

One of the primary drivers for the global 5G IoT market is the expanded high internet connectivity. The IoT success is determined by the performance, and how fast it communicates with other IoT devices like smartphones, tablets, and other software. The use of 5G will increase the data transfer speed. Besides increasing speed, it also results in a stable connection. In addition to boosting speeds, 5G networks will function with greater dependability, producing more stable connections. Network connection must be dependable and steady for the Internet of Things device that depends on real-time updates, security cameras, and other monitoring systems.

More connected devices will be supported by 5G networks, which will benefit consumers by increasing device reliability. IoT devices will be able to maintain fast speed, very low latency, and better coverage with the next-generation network. The increasing demand for smart meters, healthcare monitoring, video surveillance, and package tracking are contributing to the major growth of connections.

Market Dynamics

Drivers:

  • Expanded high internet connectivity
  • Increase in mobile adoption
  • Large IoT investment in industries
  • High demand for automation and data knowledge

Opportunities:

  • Enhancing mobile broadband with its faster speed and lower latency.
  • Demand for high-speed communication
  • Demand for advanced security features

Advancements in healthcare with the help of 5G IoT

In the healthcare sector, 5G IoT plays a crucial role in the advancement of the health industry, which creates an opportunity for the key players in the IoT market. Also, it has a significant impact on accessibility and patient outcomes. Remote patient monitoring, which gives medical professionals access to real-time tracking of vital signs and health data, is essential to this change. This capacity makes it easier to identify health problems early, which allows for proactive treatment and personalized treatment. Furthermore, the use of 5G drives the healthcare industry into unknown territory by normalizing remote surgery. With the use of 5G-enabled haptic feedback and precision robotics, surgeons may now operate on patients who are miles away. AI-powered diagnostic tools are another example of how innovative technology work together to improve medical accuracy and speed up accurate diagnosis. When an emergency arises, connected ambulances send real-time patient data, providing medical personnel with vital information before the patient's arrival and eventually enhancing essential. The 5G IoT will allow us to enter an era of real-time health services rather than the expectation it will become a norm. The concept of digital integration will bring patients closer to science friction. The Internet of Things is a network of physical items, machines, people, and other devices that allows data to be exchanged for intelligent applications and services through connectivity and communications. These devices include wearable, automobiles, smartphones, tablets, and sensors with lots of connectivity capabilities.

Asia Pacific dominates the market for 5G IoT market.

Asia Pacific stands out as the dominating region in the global 5G IoT market. The rise of 5G IoT projects, such as smart cities, can be credited to countries like China and India for the region's dominance. The digital infrastructure and data resources are the main foundations of the dominance of China in the global 5G IoT market. Additionally, the country's advanced government programs promoting automation and high-tech start-ups are driving up regional market growth. These regions present a growing opportunity for the 5G IoT market due to their vast population, expanding business landscape, emerging economy, and rising startup culture.

North America is emerging as a key player with substantial growth potential in the 5G IoT Market. The increased investments in 5G infrastructure have resulted in the expansion of the areas. Large investments are made in 5G infrastructure, including the installation of fiber optic cables and other network components. The regional government is assisting in the development of the network infrastructure for 5G technology through several regulations and programs. These factors have encouraged the region's progress for the whole period.

The manufacturing industry segments is anticipated to hold the largest market share during the forecast period

The industrial segment of the global 5G IoT market includes several industries, including Agriculture, Automotive, Healthcare, Manufacturing, Transport and Logistics, and Others. The dominance of the manufacturing category can be related to its crucial role in the development of technologies like the Internet of Things. Several critical aspects highlight the manufacturing industry segment's dominance in the 5G Internet of Things (IoT) area. The introduction of 5G's ultra-reliable low-latency connection, which has drastically changed manufacturing processes, is essential to this domination. The ability to transfer and control data in almost real-time optimizes production lines, resulting in significant increases in throughput, operational efficiency, and product quality. The ability to transfer and control data in almost real-time optimizes production lines, leading to significant enhancements in throughput, operational efficiency, and product quality. For supply chain management, 5G's real-time connectivity makes it easier for stakeholders to collaborate easily, increasing visibility and tracking capabilities for raw materials, components, and final items.

Segmentations Analysis of 5G IoT Market: -

  • By Component
    • Hardware
      • Massive multiple-input multiple-output (MIMO) systems
      • The integrated radio
      • Edge computing
      • Others
    • Platform
    • Services
      • Professional Services
      • Managed Services
  • By Application
    • Enterprise and High-Speed Industrial Networking
    • Customer Premise Equipment (CPE)
    • Mobile Computing
    • Video Broadcasting
    • Fixed Wireless Access (FWA)
  • By Industries
    • Agriculture
    • Automotive
    • Healthcare
    • Manufacturing
    • Transport and Logistics
    • Others
  • By Region
    • North America
      • US
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Colombia
      • Chile
      • Peru
      • Rest of Latin America
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Spain
      • Russia
      • BENELUX
      • CIS & Russia
      • Nordics
      • Austria
      • Poland
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Thailand
      • Indonesia
      • Malaysia
      • Vietnam
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • South Africa
      • Nigeria
      • Egypt
      • Israel
      • Turkey
      • Rest of Middle East & Africa

Recent Developments

  • In November 2023, BITS Pilani announced the collaboration with US-based Airlinq for 5G, IoT use cases development. This partnership works to design and deliver use cases in areas like urban traffic safety, providing low-latency V2V and V2X communication to enhance the experience of pedestrians, drivers, emergency responders, and others. Their aim to provide real-world experience for our students.

5G IoT Market Report Gives Answers to Following Key Questions:

  • What will be the 5G IoT Market’s Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers of 5G IoT Market?
  • What are the main forces behind the worldwide 5G IoT Market? Which companies dominate the 5G IoT Market?
  • Which companies dominate the 5G IoT Market? Which business possibilities, dangers, and tactics did they embrace in the market?
  • What are the global 5G IoT industry's suppliers' opportunities and dangers in 5G IoT Market?
  • What is the 5G IoT industry's regional sales, income, and pricing analysis? In the 5G IoT Market, who are the distributors, traders, and resellers?
  • What are the main geographic areas for various trades that are anticipated to have astounding expansion over the 5G IoT Market?
  • What are the main geographical areas for various industries that are anticipated to observe an astounding expansion in 5G IoT Market?
  • What are the dominant revenue-generating regions for 5G IoT Market, as well as regional growth trends?
  • By the end of the forecast period, what will the market size and growth rate be?
  • What are the main 5G IoT Market trends that are influencing the market's expansion?
  • Which key product categories dominate the 5G IoT Market? What are the 5G IoT Market’s main applications?
  • In the coming years, which 5G IoT Market technology will dominate the market?

Reason to purchase this 5G IoT Market Report:

  • Determine prospective investment areas based on a detailed trend analysis of the global 5G IoT Market over the next years.
  • Gain an in-depth understanding of the underlying factors driving demand for different 5G IoT Market segments in the top spending countries across the world and identify the opportunities each offers.
  • Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
  • Identify the major channels that are driving the global Mobile Mass Spectrometers Market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
  • Channelize resources by focusing on the ongoing programs that are being undertaken by the different countries within the global Mobile Mass Spectrometers Market.
  • Make correct business decisions based on a thorough analysis of the total competitive landscape of the sector with detailed profiles of the top 5G IoT Market providers worldwide, including information about their products, alliances, recent contract wins, and financial analysis wherever available.

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Table and Figures

Methodology:

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This methodology is built upon the integration of all seven research methodologies developed by MarketDigits, a renowned global research and consulting firm. By leveraging the collective strength of these methodologies, we are able to deliver a 360° view of the challenges, trends, and issues impacting your industry.

The first step of our 360° Research Methodology™ involves conducting extensive primary research, which involves gathering first-hand information through interviews, surveys, and interactions with industry experts, key stakeholders, and market participants. This approach enables us to gather valuable insights and perspectives directly from the source.

Secondary research is another crucial component of our methodology. It involves a deep dive into various data sources, including industry reports, market databases, scholarly articles, and regulatory documents. This helps us gather a wide range of information, validate findings, and provide a comprehensive understanding of the industry landscape.

Furthermore, our methodology incorporates technology-based research techniques, such as data mining, text analytics, and predictive modelling, to uncover hidden patterns, correlations, and trends within the data. This data-driven approach enhances the accuracy and reliability of our analysis, enabling us to make informed and actionable recommendations.

In addition, our analysts bring their industry expertise and domain knowledge to bear on the research process. Their deep understanding of market dynamics, emerging trends, and future prospects allows for insightful interpretation of the data and identification of strategic opportunities.

To ensure the highest level of quality and reliability, our research process undergoes rigorous validation and verification. This includes cross-referencing and triangulation of data from multiple sources, as well as peer reviews and expert consultations.

The result of our 360° Research Methodology is a comprehensive and robust research report that empowers you to make well-informed business decisions. It provides a panoramic view of the industry landscape, helping you navigate challenges, seize opportunities, and stay ahead of the competition.

In summary, our 360° Research Methodology is designed to provide you with a deep understanding of your industry by integrating various research techniques, industry expertise, and data-driven analysis. It ensures that every business decision you make is based on a well-triangulated and comprehensive research experience.

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