Market
Analysis
The global
5G IoT market is predicted to develop at a healthy CAGR during the forecast
period
(2020-
2027), states the latest Market Research Future (MRFR) report.
Drivers
Increased
Need of IoT in Autonomous Sector to Boost Market Growth
The
increased need of IoT in the autonomous sector is predicted to boost market
growth over the forecast period. As autonomous vehicles, progress from testing
to commercial deployment, the demand for 5G IoT devices will add to the market
growth. Simultaneously, incumbents in the utility and energy industries are
eager in embracing the latest technologies in simplifying energy generation and
distribution processes that is likely to drive demand for IoT devices which
support next-generation frequencies to offer improved performance. Besides, the low latency 5G networks and high reliability
networks may also add market growth.
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Opportunities
Growing
Demand for New Emerging Use Cases to offer Robust Opportunities
The growing
need for new emerging use cases like industrial automation, connected cars,
telemedicine, and smart grid to offer robust opportunities for the market over
the forecast period.
Restraints
Lack
of Standardization to act as Market Restraint
The lack of
standardization in IoT protocols to act as a market restraint over the forecast
period.
Challenges
Concerns
over Security to act as Market Challenge
The
increase in concerns over data security and privacy, risk of uncertainty in
terms of Rois, and delay in spectrum harmonization across geographies may act
as market challenges over the forecast period.
COVID-19
Analysis
COVID-19
has affected every segment of society, including businesses and individuals.
During this crisis, the telecom sector is playing a crucial role across the
globe for supporting the digital infrastructure of countries. Every government
and individual regardless of provinces, local, central, state, and federal has
been in constant touch with each other in the society for offering and getting
real-time information on COVID-19. All this is adding to the market
growth.
Market
Segmentation
By service,
the global 5G IoT market
is segmented into massive machine-type communication (mMTC), ultra-reliable low
latency communications (URLLC), and enhanced mobile broadband (eMBB).
By
technology, the 5G new radio (NR) standalone architecture will lead the market
over the forecast period as this allows mobile network operators in using their
existing core network rather than deploying new set of technologies for the 5G
services.
By type,
the wide-range IoT devices will dominate the market over the forecast period
for the increasing use of smart wearable devices, asset tracking applications,
smart manufacturing, smart metering, and increasing initiatives in smart city
projects from governments.
By
vertical, the consumer electronics and manufacturing verticals will spearhead
the market over the forecast period for the increasing adoption among
manufacturing organizations and increasing adoption of connected devices.
Regional
Analysis
North
America to Have Lions Share in 5G IoT Market
North
America will have lions share in the market over the forecast period.
Increasing adoption in the US, rising demand for internet connectivity with
high reliability, rapid adoption of internet-connected devices, the presence of
major players, and increasing investments in R&D are adding to the global
5G IoT market growth in the region.
Key
Players
Eminent
players profiled in the global 5G IoT market report include Telefonaktiebolaget
LM Ericsson (Sweden), Nokia (Finland), Huawei Technologies Co., Ltd. (China),
AT&T (US), Verizon (US), T-Mobile USA, INC (US), Telefónica S.A (Spain), BT
(UK), Vodafone Limited (UK), Telstra Group (Australia), Etisalat (UAE),
Qualcomm Technologies, Inc. (US), Sierra Wireless (Canada), Bell Canada
(Canada), Singtel (Singapore), and Rogers Communications Inc. (Canada).
Browse Complete Report @
https://www.marketresearchfuture.com/reports/5g-iot-market-10367
5G IoT Market Research Report:
Information by Technology (Hall Effect, Magneto Resistive, Variable
Reluctance), By Application (Automotive, Industrial, Aerospace & Defense,
Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle
East & Africa, and South America)—Forecast till 2030
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