Global 5G IoT Market Size By Component (Hardware, Platform, Connectivity), By Network Type (5G Standalone (SA), 5G Non-standalone (NSA)), By End-User (Manufacturing, Healthcare, Agriculture), By Geographic Scope And Forecast

5G IoT Market Size And Forecast

5G IoT Market size was valued at USD 1.4 Billion in 2020 and is projected to reach USD 111.2 Billion by 2028, growing at a CAGR of 72.1% from 2021 to 2028.

More money in people's pockets means better lives, and that's driving a huge demand for 5G IoT. This, in turn, is making the 5G IoT Market boom! Plus, as more people move to cities, we're seeing even more need for 5G IoT in places like office buildings and big stores. That's another big reason the Global 5G IoT Market is growing. Want the full picture? The Global 5G IoT Market report gives you a deep dive into everything you need to know. It breaks down the important pieces, like key trends, what's helping the market, what's holding it back, and who the big players are. It's a comprehensive look at all the factors that are shaping the market right now.

Global 5G IoT Market Definition

Okay, so 5G is super important for the Internet of Things (IOT), right? We need a network that's way faster and can handle a ton more devices, and 5G delivers on that connectivity big time. Think of it like this5G uses higher frequencies to send data, which makes everything speedier. It's the fifth-generation tech for cellular networks, designed to crank up the speed, slash latency, and make wireless way more adaptable. We're talking a potential top speed of 20 Gbps with 5G, compared to 4G's measly 1 Gbps. Basically, 5G is taking our connection game to a whole new level, bringing cloud experiences right to our fingertips.

5G networks are visualized and software-driven and they exploit cloud technologies. The 5g network will also simplify mobility with seamless open roaming capabilities between cellular and WIFI access. The new Wi-Fi 6 wireless standard shares traits with 5g, including upgrade performance. Wi-Fi 6 radios can be placed where users need them to offer better geographical coverage and lower cost. The latest 5G networks will also have solid, distributed access architecture and move data processing closer to the edge and the users to enable faster data processing. 5G Technology will inaugurate latest modern throughout network architecture.

5G new radio, the global standard for a more capable 5g wireless interface, will cover spectrums not used in 4g. The new antenna will incorporate a technology known as massive MIMO, which authorize multiple transmitters and receivers to transfer more data at the same time. Due to, 5G Technology being limited to radio spectrums it is designed to support a converged, heterogeneous network combining licensed and unlicensed wireless technologies. 5G also refine the digital experience through machine learning-enabled automation. 5G architecture will be the software-defined platform, in which network functionality is managed through software rather than hardware.

Global 5G IoT Market Overview

Rising demand for IoT connected devices, more adoption of mobile broadband as well as a growing device-to-device communication, and swift innovation virtualization in the networking domain is driving the growth of the 5G Technology Market. 5G gives techniques like network function virtualization and network slicing that help in providing customer-specific networks. Furthermore, 5g network can offer customized infrastructure for IoT applications to boost the efficiency of the industry for example industry 4.0 fully depends upon robotics and moving robots to increase the efficiency of the plant.

With 5G, our devices can tap into super-fast wireless connections, giving us info almost instantly. Think of it! And it's not just about speed; the demand for rock-solid, super-responsive networks is booming. Plus, all the cool tech advancements and the logistics industry's hunger for 5G are opening up huge possibilities. Take vehicle-to-everything communication, for example. It's making connected vehicles and self-driving cars a reality! 5G's low latency is a game-changer, especially in critical fields. Telemedicine, for instance, can really take off with hospitals and doctors getting real-time data without any delays.

In addition, high spectrum prices and the threat of cyber-attacks can hamper the growth of the market. The chances of cyber-attacks are likely to increase with 5G Technology. The growing connected devices and machines will lead to a rise in security threats and attackers can take the benefit of this security gap which can adversely affect the growth of the market. Organizations are presently using custom Application Programming Interfaces (APIs) and solutions for every IoT project. A general protocol and communication standard is required to enable communication among IoT-enabled devices to transfer data or create an excellent network.

Global 5G IoT Market Segmentation Analysis

The Global 5G IoT Market is segmented on the basis of Component, Network Type, End-User and Geography.

5G IoT Market, By Component

• Hardware
• Platform
• Connectivity
• Services
  1. Professional Services
  2. Managed Services

When we look at the market by Component, we're talking about things like Hardware, Platform, Connectivity, and Services. Right now, Services are a pretty big deal, grabbing a large chunk of the market. And get this, we're seeing more and more managed services because everyone's worried about keeping things secure and monitored, plus meeting those tricky regulatory rules. It's all about boosting productivity and making sure data's rock solid while sticking to those super important Service-Level Agreements (SLAs). Big companies are really jumping on the 5G industrial IoT bandwagon for solutions and services, way more than smaller businesses. This is mostly because they can afford it and get better bang for their buck, letting them really take advantage of what 5G industrial solutions and services have to offer.

5G IoT Market, By Network Type

• 5G Standalone (SA)
• 5G Non-standalone (NSA)

When we look at the market, we can break it down by Network Type5G Standalone (SA) and 5G Non-standalone (NSA). Right now, the 5G Standalone piece is a pretty big chunk of the overall market. Think of 5G NR SA as a totally fresh, modern radio network built just for 5G. It's mainly made up of the 5G Radio Access Network (RAN) and the 5G core networks. People are expecting 5G NR SA solutions to really outperform the 5G NR NSA options. That’s because 5G NR SA comes packed with a bunch of new features, including things like Control and User Plane Separation (CUPS), support for multi-Gbps speeds, network slicing, ultra-low latency, and virtualization.

5G IoT Market, By End User

• Manufacturing
• Healthcare
• Energy and Utilities
• Automotive and Transportation
• Supply Chain and Logistics
• Government and Public Safety
• Agriculture
• Others End User

So, when we look at who's using this stuff (the "End User," as they say), we see it broken down into groups like Manufacturing, Healthcare, Energy and Utilities, Automotive and Transportation, Supply Chain and Logistics, Government and Public Safety, Agriculture, and, well, Others. And guess what? Manufacturing is the big dog here, grabbing the largest slice of the pie. With Industry 4.0 already happening, the arrival of 5G is like putting the pedal to the metal for "smart factories" – think super-fast speeds, freedom from wires, and near-instant responses. Manufacturers are really embracing going digital to save money and get a better return on their investments. 5G-powered IoT promises new, more efficient processes and cool tech upgrades that will ultimately boost profits and make shop floors way more productive.

5G IoT Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

Based on Geography, the Global 5G IoT Market is classified into North America, Europe, Asia Pacific, and Rest of the world. The Asia Pacific region is expected to witness the highest CAGR during the forecast period. This is primarily due to the rise in disposable income in these countries, and the growth in urbanization. The region modifies dynamically with respect to the adoption of new technologies across several sectors.

Key Players

The “Global 5G IoT Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Telefonica, SK Telecom, Deutsche Telekom, Ericsson, China Mobile, AT&T, Verizon, T-Mobile, Vodafone, Orange S.A among others. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In January 2021, AT&T launched its 5G+ services in certain popular areas and venues across Tampa, such as Raymond James Stadium, Channel District, and Tampa International Airport in the US
• In November 2021, CMIoT is a subsidiary of China Mobile Communications Group, introduced IoT OS called OneOS that supports 5G network standards. It has features such as low energy consumption, cross-platform, scalable, and high safety.
• In February 2021, Verizon partnered with Zyter, one of the leading digital health and IoT-enablement platform providers, to aid sports and entertainment venues with 5G experiences.
• In November 2020, Ericsson finished the acquisition of Cradlepoint, one of the prime vendors in WLAN, edge, and IoT solutions. Cradlepoint helps businesses to connect mobile sites, workforce, edge devices, vehicles, and IoT devices.

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