The 5G IoT services are next-generation wireless connectivity services that provide a higher speed of data transfer and connectivity with lower latency than previous generations. 5G network capabilities enable production systems and machines to work seamlessly through wireless networking, thereby enhancing flexibility and efficiency. These services have wide scope across industry verticals, including consumer electronics, automotive, railways, mining, utilities, healthcare, agriculture, and manufacturing.
By services, the global 5G IoT market Size has been segmented into enhanced mobile broadband (eMBB), ultra-reliable low latency communications (URLLC), and massive machine type communications (mMTC).
By technology, the global 5G IoT market has been divided into 5G new radio (NR) standalone architecture and 5G new radio (NR) non-standalone architecture. 5G new radio (NR) standalone architecture enables mobile network operators to utilize their existing core network instead of deploying a new set of technologies for 5G services.
Based on type, the global 5G IoT market has been divided into short-range IoT devices and wide-range IoT devices. The wide-range IoT devices segment is expected to register the higher CAGR during the forecast period mainly due to the increasing adoption of smart wearable devices, asset tracking applications, increasing initiatives in smart city projects from governments, smart metering, and smart manufacturing.
Based on vertical, the global 5G IoT market has been classified into consumer electronics, automotive, railways, mining, utilities, healthcare, agriculture, manufacturing, and others. The consumer electronics and manufacturing verticals are expected to grow the fastest during the forecast period as the increasing adoption among manufacturing organizations and surging adoption of connected devices.
The global 5G IoT market has been analyzed for five regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
Regional Analysis
By region, the global 5G IoT market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America is expected to be the largest regional market due to the presence of a large number of 5G IoT service providers in the region.
Key Players
The key players operating in the global 5G IoT market 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).
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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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