5G IoT Market Strategies, Top Players, Growth Opportunities, Analysis and Forecast by 2031

The 5G IoT market is expected to expand at a CAGR of 9.5% from 2023 to 2031. Edge Computing Integration in 5G IoT is likely to be a key trend in the market.

5G IoT Market Analysis

• The 5G IOT Market is witnessing strong growth owing to several growth factors, namely the widespread need for higher bandwidth and low latency, which 5G caters to significantly, for instance, easy and direct communication or transfer of data with IoT devices.
• Moreover, 5G IoT solutions are also benefiting from the proliferation of smart cities and smart homes, offering smarter automation through remote monitoring and management of resources at a large scale.
• As the world is demanding quicker and more stable connectivity, the growth of smart cities and smart homes and the implication of advanced technology in all fields create a suitable environment for innovation and growth of the ultimate 5G IoT potential.

5G IoT Market Overview

• The 5G IoT industry merges two disruptive technologies: fifth-generation (5G) wireless connectivity and the Internet of Things (IoT).
• 5G is the fifth generation of mobile network technology, offering considerably higher speeds, lower latency and much greater capacity than previous generations. IoT stands for the Internet of Things, a vast network of objects and sensors that collect and share information via the internet.
• The third industrial revolution is expected to result from a combination of 5G with the Internet of Things (IoT) as they would allow this connectivity among different devices in real-time.
• This is expected to open opportunities for the 5G IoT market in smart cities, autonomous vehicles, industrial automation, healthcare monitoring and more.

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5G IoT Market: Strategic Insights

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5G IoT Market Drivers and Opportunities

Increased Demand for High-Speed Connectivity

• The biggest factor behind the accelerating demand for 5G IoT is the increasing need for speed. As the Internet of Things spreads, along with the number of things becoming connected to it, and the data generated by all this connectivity grows exponentially, the need for faster, more reliable and scalable networks grows, too.
• 5G has a much higher speed and lower latency than previous generations of mobile tech, basically meaning that it allows devices to communicate in real time and transmit data more readily.
• It enables enterprises to leverage 5G IoT solutions for applications such as remote monitoring, autonomous vehicles and smart cities that are better at, among other things, efficiency, user experiences and creative business models.

Enhanced Energy Efficiency and Extended Battery Life

• One big opportunity in the 5G IoT market is the possibility of improved energy efficiency and longer battery life for IoT devices. 5G technology improves network efficiency, cutting energy usage by up to 90% and allowing IoT devices to run on low power for up to ten years.
• This increase is critical for IoT applications that use battery-powered devices, such as remote sensors or wearable devices. By exploiting 5G capabilities, IoT devices can achieve quicker data transfer while reducing power consumption.
• This offers opportunities for a variety of industries, including smart cities, agriculture, and healthcare, which require long-lasting and energy-efficient IoT equipment. 5G IoT solutions' extended battery life and enhanced energy efficiency allow enterprises to deploy and maintain a greater number of devices, resulting in higher connection and data collection for more comprehensive insights and improved operational efficiency.

5G IoT Market Report Segmentation Analysis

The key segments that contributed to the derivation of the 5G IoT market analysis are components, IoT connectivity, network architecture, and vertical.

• By component, the market is divided into hardware, software, and services.
• Based on IoT connectivity, the market is divided into sub-massive IoT, broadband IoT, critical IoT, and industrial automation IoT.
• Based on network architecture, the market is segmented into 5G non-standalone and 5G standalone.
• By vertical, the market is segmented into manufacturing, smart cities, energy & utilities, transportation & logistics, enterprises/corporates, healthcare, oil & gas, and others.

5G IoT Market Share Analysis By Geography

Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America.

• 5G IoT Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering 5G IoT market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the 5G IoT market in these regions.

5G IoT Market Regional Insights

The regional trends and factors influencing the 5G IoT Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses 5G IoT Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

5G IoT Market Report Scope

5G IoT Market Players Density: Understanding Its Impact on Business Dynamics

The 5G IoT Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the 5G IoT Market are:

1. Nokia Corporation
2. TELEFONAKTIEBOLAGET LM ERICSSON
3. ZTE Corporation
4. AT&T INC.
5. Huawei Technologies Co. Ltd.
6. Verizon Communications Inc.

Disclaimer: The companies listed above are not ranked in any particular order.

 

5G IoT Market News and Recent Developments

The 5G IoT market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the 5G IoT market are listed below:

• Verizon Business built a highly customized private 5G environment for Audi AG's automotive test track. Verizon Business and Audi AG announced a partnership to build a state-of-the-art private wireless network and tech-testing environment at Audi's automotive test track in Neustadt, Germany. The geographic flexibility of the Neustadt test-track network gives Audi a competitive advantage in the global market by streamlining its multi-territory R&D test cycle, better replicating driver/passenger experiences around the world, and providing access to the latest network and application technology. (Source: Verizon, News, February 2024)
• AT&T brought Elevated Wireless Experience to DFW Airport. Dallas Fort Worth International Airport (DFW) announced a new partnership with Dallas-based AT&T to provide the airport with a comprehensive wireless platform (CWP) that will enhance connectivity and critical infrastructure. AT&T will also deploy a private 5G network for the Airport's internal use to meet the rising demand for Internet of Things (IoT) use cases and the digitization of airport operations. (Source: AT&T, News, May 2023)

5G IoT Market Report Coverage & Deliverables

The 5G IoT market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report "5G IoT Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-

• 5G IoT  market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• 5G IoT  market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter's Five Forces and SWOT analysis
• 5G IoT  market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the 5G IoT  market
• Detailed company profiles.