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| Report Code: A12815 | Pages: 331 | ||
| Tables: 169 | Charts: 94 |
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The global 5G Internet of Things market size was valued at $1.45 billion in 2020, and is projected to reach $285.28 billion by 2030, registering a CAGR of 69.8% from 2021 to 2030.
COVID-19 pandemic is expected to positively impact the growth rate of the 5G internet of things market, owing to increase in demand for internet of things solution among the SMEs and large enterprises to improve their market share and it upsurge their revenue opportunities in the pandemic situation.
5G network technology in the era of Internet of Things enables the IoT devices to improve their performance and reliability. The advent of a 5G-enabled Internet of Things is intended to expand sensor-based Internet of Things capabilities to actuators, robots, and drones for distributed coordination and low latency dependable job execution in hands. Furthermore, the capacity to communicate with other IoT devices, smartphones and tablets, computer programs, and other devices is critical to the economic viability of Internet of Things. The Internet of Things can interact and share information quicker than ever before, owing to 5G network technology, which presents the potential for the 5G IoT market.
Internet of Things technologies such as machine-to-machine communications with intelligent data analytics in the era of 5G network technology is drastically changing the landscape of various industries. In addition, the global 5G IoT market is witnessing a surge, owing to the rise in high-speed network supply enabling IoT devices to communicate and share data faster, which is forecast to fuel the 5G IoT market growth in the coming years.
The 5G IoT market is expected to witness notable growth during the forecast period, owing to the rise in development in wireless technologies. Moreover, the surge in mobile network data traffic is anticipated to offer remunerative opportunities for the expansion of the 5G Internet of Things market analysis. Further, unleashing a massive 5G IoT ecosystem and critical communication services globally is acting as one of the prime factors driving the market growth.
However, lack of standardization in IoT protocols coupled with existing 4G LTE technology is sufficient for certain IoT use cases that are restraining the market growth. On the contrary, rise in demand for smart infrastructure solutions is expected to provide 5G IoT market opportunity during the forecast period.
The emergence of COVID-19 has propelled the growth of the 5G Internet of Things market in 2020. Furthermore, the 5G IoT market during COVID-19 was primarily hit by several obstacles, including the lack of availability of a professional skill force to roll out 5G network technology across emerging economies that acted as a restraining factor for the market growth during COVID-19. However, the rise in demand from Internet of Things-based smart infrastructure solutions such as smartphones is expected to act as a prime factor boosting the market growth post-pandemic.
On the basis of network type, the 5G non standalone architecture segment dominated the 5G IoT market share in 2020, and is expected to maintain its dominance in the upcoming years owing to growing need of 5G network services among manufacturing sectors. However, the 5G standalone architecture segment is expected to witness highest growth rate in the upcoming years, owing to rise in adoption of smartphone applications in the residential and commercial sector. Increase in various initiatives by many prime organizations globally to boost the adoption of 5G IoT for a more flexible and secured environment among the healthcare sector is expected to drive the market growth.
Region wise, the 5G Internet of Things market was dominated by Asia-Pacific in 2020, and is expected to retain its position during the forecast period. The major factors that drive the growth of the market in this region include presence of key players of the market and increase in Internet of Things-based applications across prime industries is anticipated to propelling the extension of the market in coming years. However, Europe is expected to witness the highest growth rate during the forecast period, owing to rapid industrialization and urbanization in the Asia-Pacific region.
The 5G Internet of Things market is segmented on the basis of component, enterprise size, network type, and industry vertical. On the basis of component, the market is fragmented into solution (hardware and software & platform) and services. Depending on enterprise size, the market is segregated into large enterprises and small & medium sized enterprises. Based on network type, the market is fragmented into 5G NR standalone architecture and 5G NR non-standalone architecture. By industry vertical, it is categorized into manufacturing, healthcare, energy & utilities, transportation & logistics, agriculture, government & public safety, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the 5G IoT industry include AT & T Intellectual Property, Cisco, Telefonaktiebolaget LM Ericsson, Qualcomm Incorporated, Huawei Technologies Co. Ltd., Intel Technology, Samsung Electronics Co. Ltd., Nokia, NEC Corporation and ZTE Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the 5G Internet of Things outlook.
Significant factors that impact the growth of the global 5G IoT market trends include development in wireless technologies coupled with unleashing a massive 5G IoT ecosystem & critical communication services. However, lack of standardization in IoT protocols and existing 4G LTE technology is sufficient for certain IoT use cases is acting as a prime barrier for early adoption, which hampers the market growth. On the contrary, development for smart infrastructure solutions is anticipated to provide remunerative opportunities for expansion of the 5G Internet of Things industry during the forecast period.
Competitive analysis and profiles of the major players in 5G Internet of Things industry are AT & T Intellectual Property, Cisco, Telefonaktiebolaget LM Ericsson, Qualcomm Incorporated, Huawei Technologies Co. Ltd., Intel Technology, Samsung Electronics Co. Ltd., Nokia, NEC Corporation and ZTE Corporation are provided in this report. These players have adopted various strategies to increase their market penetration and strengthen their position in the 5G Internet of Things industry.
Key Benefits For Stakeholders
Key Market Segments
By Component
By Enterprise Size
By Network Type
By End User
By Region
Key Players
5G Internet of Things Market Report Highlights
| Aspects | Details |
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| By Component |
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| By Enterprise Size |
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| By Network Type |
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| By End User |
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| By Region |
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| Key Market Players | HUAWEI TECHNOLOGIES CO. LTD., NEC CORPORATION, SAMSUNG ELECTRONICS CO. LTD. (SAMSUNG), INTEL Technology, Telefonaktiebolaget LM ERICSSON, AT&T Intellectual Property., CISCO., ZTE CORPORATION, NOKIA, QUALCOMM TECHNOLOGIES, INC. |
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5G wireless technology in the Internet of Things is intended to deliver higher multi-Gbps peak data speeds, more reliability, ultra-low latency, massive network capacity, and a superior user experience. Further, 5G network is rapidly evolving globally, owing to meeting the diverse Internet of Things requirement, which is driving a rich roadmap of system integration for the expansion of 5G Internet of things. Moreover, the rise in demand for next-generation smart infrastructure solutions across prime enterprises globally is expected to offer profitable opportunities for the 5G Internet of Things market.
The global 5G Internet of Things market is highly competitive, owing to the strong presence of existing vendors. 5G Internet of Things vendors, who have access to extensive technical and financial resources, are anticipated to gain a competitive edge over their rivals, as they have the capacity to cater to the market requirements. The competitive environment in this market is expected to further intensify with increase in technological innovations, product extensions, and different strategies adopted by key vendors.
Surge in demand for Internet of Things-based smart infrastructure solution globally is driving the need to enhance 5G network solutions. Moreover, prime economies, such as the U.S., China, Germany and Japan, plan to develop and deploy next generation 5G Internet of Things solutions across various sectors. For instance, on September 09, 2021, Nokia, a 5G network service provider across the U.S., announced to roll out UScellular’s standalone 5G core network by 2022, which is anticipated to provide lucrative opportunities for the market growth.
Among the analyzed regions, North America exhibits the highest adoption rate of 5G Internet of Things and has been experiencing massive expansion of the market. On the other hand, Asia-Pacific is expected to grow at a faster pace, predicting lucrative growth due to emerging countries, such as China, Japan, and Taiwan, investing in these technologies. Regions, such as the Middle East and Africa, are also expected to offer new opportunities in the 5G Internet of Things market in future.
Globally, various key players and government agencies are investing in 5G Internet of Things to make them compatible with various industrial platforms. For instance, in July 2021, the UK government launched a $34 million competition designed to turn the UK into a leading global destination for developing the next generation of 5G networks. In addition, on July 12, 2021, France government announced to spend over $1.9 billion to develop 5G market by 2025 through public and private sectors. All these developments across 5G Internet of Things showcase lucrative opportunities for the market growth.
The key players profiled in the report include AT & T Intellectual Property, Cisco, Telefonaktiebolaget LM Ericsson, Qualcomm Incorporated, Huawei Technologies Co. Ltd., Intel Technology, Samsung Electronics Co. Ltd., Nokia, NEC Corporation and ZTE Corporation.
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