Global 5G IoT Market to Reach $814.9 Billion by 2030
The global market for 5G IoT estimated at US$21.9 Billion in the year 2023, is expected to reach US$814.9 Billion by 2030, growing at a CAGR of 67.7% over the period 2023-2030. 5G NR Standalone Architecture, one of the segments analyzed in the report, is expected to record 69.2% CAGR and reach US$607.8 Billion by the end of the analysis period. Growth in the 5G NR Non-Standalone Architecture segment is estimated at 63.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $7.7 Billion, While China is Forecast to Grow at 63.1% CAGR
The 5G IoT market in the U.S. is estimated at US$7.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$114 Billion by the year 2030 trailing a CAGR of 63.1% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 60% and 56.3% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 44.6% CAGR.
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