5G IoT Market size reached USD 2.4 billion in 2021 and is forecast to touch USD 141.1 billion in 2029, and the market is expected to grow at a whopping CAGR of 66.4% from 2022-2029 attributed to increasing demand for connected devices.

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Main 5G IoT Market Drivers

Global 5G IoT Market is majorly driven by increasing demand for connected devices for real time market analysis for location-based data and growing investments in Internet of Things (IoT) technology and 5G deployments. IoT devices are connected using different wireless technologies such LPWAN, LoRange, wireless sensor networks and Internet Protocol version 6 (IPv6). As the adoption of these technologies are increasing, demand for IoT devices is projected to rise. Globally, 13 billion IoT were estimated in 2022, this figure is expected to double by 2028, as the deployment of 5G networks are increasing, which will open more growth opportunities for 5G IoT Market in coming years. Moreover, due to low latency and higher throughput offered by 5G Private networks, these networks are expected to provide next-generation connectivity for business applications including autonomous vehicles, connected factories and connected healthcare, which will increase the demand for 5G Internet of Things solutions in forthcoming years.

Increase in the mobile data traffic, developments in wireless technologies and rising application of 5G IoT in new use cases such as telemedicine, connected cars and industrial automation, are some of the factors accelerating the market growth. Additionally, 5G technology is gaining popularity in various end-use industries owing to its remarkable features such as high transfer speed and transfer speed and low latency. 5G Internet of Things devices are increasingly used in the automotive industry to monitor vehicle location, engine’s health, and driver behaviour. As Countries are promoting electrification in the Automotive Industry, demand for electric vehicles is expected to increase in the coming years. Technologies such as 5G, Internet of Things and Artificial Intelligence (AI), are expected to play a critical role in the optimization of Electric Vehicles logistics sector around the world. However, growth of 5G IoT Market is hindered due to lack of standardization protocol in IoT.

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Based on Network Type, 5G standalone (SA) segment is estimated to grow at a faster CAGR.

5G NR Standalone Architecture solutions are coming up with new built-in capabilities including network slicing, ultra-low latency and multi-Gbps support and virtualization. In addition. 5G standalone deployment is gaining popularity in the market as it ensures low latency, allows operators to customize their services and strategies, offers greater flexibility and is considered to be more effective as compared to 5G NR Non-Standalone solutions.

Based on End-Use, Manufacturing segment is projected to capture the largest market share.

Businesses are focussing on developing autonomous and cognitive ecosystem by integrating advanced technologies such as IoT, cloud Computing and Artificial Intelligence into their production facility to optimize manufacturing processes, which is boosting the adoption of industry 4.0. With increasing industry 4.0 adoption, launch of 5G will help companies to build intelligent factories with high capacity and low-latency capabilities. 5G will support manufacturing procedures with more efficient production lines and autonomous transportation inside the factories. In addition, manufacturers have started adopting 5G IoT solutions to increase their return on investments (ROI) and profitability, improve operational efficiencies and shop floor productivity, which is accelerating the segment’s growth.

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Asia-Pacific region is forecast to dominate the market.

Asia-Pacific 5G IoT Market is driven by surge in the adoption of advanced technologies across different industries, rise in the deployment of 4G and 5G networks and increasing focus of companies on offering better customer service. In addition, infrastructural growth in countries such as South Korea, India, China and Australia and presence of massive mobile base, are propelling the demand for 5G IoT solutions in the region. 5G Internet of Things is gaining traction in North America due to technological advancements in telecommunication sector, rise in the number of wireless 5G connections and emerging need for faster connectivity.

5G IoT Companies

Various notable players operating in the 5G IoT Market are China Mobile, AT&T, Verizon Communications, T-Mobile, Vodafone Group Plc, Orange S.A., Telefónica, SK Telecom, Deutsche Telekom and Ericsson, among others.

Key Developments:

• • In September 2022, Deutsche Telekom unveils its plans to launch 5G smartphones in Germany by early 2023. This product launch will strengthen company’s position in the European market.
  • In November 2021, CMIoT announced the launch of its IoT OS “OneOS”, which supports 5G network standards. Its OneOS offers cross-platform, high safety and consumes less energy.
  • In January 2021, AT&T announced that it has launched its 5G+ services in parts of Tampa, Florida, including Tampa International Airport.
  • In November 2020, Ericsson acquired Cradlepoint, a U.S based company which develops Wireless WAN Edge 4G and 5G solutions for enterprise market. Through this acquisition, Ericsson plans to expand its presence in the 5G Enterprise market.
  • In November 2020, Orange announced the launch of its 5G network in some of the French municipalities including Marseille, Le Mans and Clermont Ferrand. This 5G network launch, comes with three to four times faster speed as compared to 4G network.
  • In April 2020, Vodafone and Ford joined forces to explore the potential of 5G in Electric Vehicle Manufacturing. In this partnership, Vodafone plans to deliver 5G mobile network by installing electrified powertrain at Ford Manufacturing Engineering Facility.

Segments covered in the Report:

The global 5G Internet of Things market has been segmented on the basis of type, end-use, and regions. Based on type, the market is segmented into hardware, platform, connectivity, and services. Based on Network Type, the market is segmented into 5G standalone (SA) and 5G Non-standalone (NSA). Based on end-use, the market is segmented into automotive & transportation, consumer electronics, healthcare, industrial, agriculture, oil & gas, and others.

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Market Segmentation

Global 5G Internet of Things Market by Type

• • Hardware
  • Platform
  • Connectivity
  • Services

Global 5G Internet of Things Market by Network Type

• • 5G standalone (SA)
  • 5G Non-standalone (NSA)

Global 5G Internet of Things Market by End-Use

• • Automotive & Transportation
  • Consumer Electronics
  • Healthcare
  • Industrial
  • Agriculture
  • Oil & Gas
  • Manufacturing
  • Others

Global 5G Internet of Things Market by Region

• • North America 5G Internet of Things Market (Option 1: As a part of the free 25% customization)
    • By Type
    • By Network Type
    • By End-Use
    • US Market All-Up
    • Canada Market All-Up
  • Europe 5G Internet of Things Market (Option 2: As a part of the free 25% customization)
    • By Type
    • By Network Type
    • By End-Use
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific 5G Internet of Things Market (Option 3: As a part of the free 25% customization)
    • By Type
    • By Network Type
    • By End-Use
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW 5G Internet of Things Market (Option 4: As a part of the free 25% customization)
    • By Type
    • By Network Type
    • By End-Use
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the 5G Internet of Things (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • China Mobile
  • AT&T
  • Verizon Communications
  • T-Mobile
  • Vodafone Group Plc
  • Orange S.A.
  • Telefónica
  • SK Telecom
  • Deutsche Telekom
  • Ericsson