Global 5G IoT Market

Global 5G IoT Market

The global 5G IoT market size was valued at $1,856.32 million in 2020 and is anticipated to grow at a CAGR of 70.37% from 2021 to 2028. This growth is attributed to several macro and microeconomic factors such as

Wireless Technology Advancement

Wireless technologies are used to connect IoT devices, and each technology has its own set of benefits and uses cases. Increased adoption of Long Range Wide Area Networks, 5G, wireless sensor networks, and Internet Protocol version 6 (IPv6) is expected to fuel demand for IoT devices, resulting in a rise in the need for wireless technologies over the next years. The requirement for increasing capacity, high data rate, and high connection has grown in tandem with the increased data exchange rate among huge numbers of connected devices. As a result, 5G wireless networks are seen as a significant driver for IoT since they provide low-latency use cases at the network edge, allowing CSPs and corporations to connect data centers, mobile and IoT devices, and public or private cloud platforms. Long-Term Evolution (LTE) to 5G evolution is predicted to accelerate to meet the needs of growing IoT applications such as huge machine-type communication and mission-critical applications.

Further several factors restraining the market growth include

Lack of uniformity in IoT protocol

The requirement to coordinate with a varied variety of devices has expanded as more gadgets need to be connected. Distinct devices have different hardware, run on different platforms, and are made by different manufacturers. The interoperability difficulty in the IoT space is caused by incompatibility across sensors, devices, and even distant server interfaces. Every element of human life is affected by the Internet of Things, and the goal is to unify these standards so that M2M interaction becomes more user-friendly and versatile. Several organizations and associations are working to resolve this problem. Existing interoperability standards, such as MTConnect, Ethernet for Control Automation Technology (EtherCAT), MCS-DCS Interface Standardization (MDIS), Master Control System (MCS), Distributed Control System (DCS), and Interface Standardization, facilitate data exchange across diverse domains and industries. Custom Application Programming Interfaces (APIs) and solutions are presently used in every IoT project by businesses. To allow IoT-enabled devices to communicate and share data or establish an intelligent network, a common protocol and communication standard are required.

Collaborations and Alliances in the 5G IoT market is expected to generate higher avenues during the forecast period.

In the wake of the COVID-19 pandemic, supply chain disruptions have led to supply shortages or lower demand in the 5G IoT market. The pandemic has caused a decline in new orders and a corresponding decrease in production.

This section will analyze how COVID-19 has impacted supply chains, leading to shortages and lower demand for 5G IoTs.

In terms of COVID 19 impact, the 5G IoT market report also includes the following data points:

Impact on 5G IoT market size
Operating Weights Trend, Preferences, and Budget Impact
Regulatory Framework/Government Policies
Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
Opportunity in 5G IoT market

Key Insight in the report:
The global 5G IoT market report covers executive summary, market dynamics, COVID impact & post COVID scenario, market size and forecast, competitive intelligence, market positioning, and product offerings.

Our report covers extensive competitive intelligence which includes the following data points:

Business Overview
Business Segment Data
Financial Data
Product Segment Analysis and Specification
Recent Development and Company Strategy Analysis
SWOT Analysis

5G IoT Market Segmentation:

Type
5G NR Standalone
5G NR Non-Standalone Architecture
Application
Manufacturing
Energy & Utilities
Healthcare
Government
Others

Region/ Countries Covered:

North America
US
Canada
Mexico
Europe
UK
Germany
France
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Rest of Asia Pacific
Rest of the World
South America
Middle East & Africa

Key Players Analyzed in the Report:

Telus Corporation
Telstra Corp. Ltd.
Etisalat Group
Ericsson
Vodafone Group
AT&T
Verizon Communications
Sprint (T-Mobile US, Inc.)
SingTel
NOKIA CORPORATION

REPORT CONTENT:

High-level analysis of the current and future market trends and opportunities
Detailed analysis on current market drivers, restraining factors, and opportunities in the future
5G IoT market estimates for 2020 and forecast from 2021 to 2028
Vendor market share analysis at each product level
Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.

Target Audience

Manufacturers
Suppliers and traders
Government, associations, and industrial bodies
Investors and trade experts
Consulting Firms or Individual Consultant
Anyone interested in understanding the industry dynamics of the 5G IoT market