5G IoT Market Size

5G IoT Market size was valued at USD 12.96 Billion in 2023 and is poised to grow from USD 17.38 Billion in 2024 to USD 182.64 Billion by 2032, growing at a CAGR of 34.12% during the forecast period (2025-2032).

Key vendors in 5G IoT Market are: 'Nokia Corporation ', 'ZTE Corporation ', 'Vodafone Limited ', 'Microsoft Corporation ', 'AT&T Inc. ', 'Deutsche Telekom IoT GmbH ', 'Intel Corporation ', 'Cisco Systems, Inc. ', 'Telefonaktiebolaget LM Ericsson ', 'Sequans Communications ', 'SIMCom Wireless Solutions Limited ', 'Verizon Communications Inc. ', 'Quectel Wireless Solutions Co. Ltd. ', 'T-Mobile US Inc. ', 'Sierra Wireless S.A. ', 'Bell Canada ', 'u-blox Holding AG ', 'Samsung Electronics Co. Ltd. ', 'Mavenir Systems Inc. ', 'Qualcomm Technologies Inc.' 

5G is a relatively new connectivity technology but has seen a rapid hike in popularity ever since its first launch. Governments and 5G providers alike are investing heavily in expansion of their 5G networks to boost their revenue and this will also help the 5G IoT market expand in the future.

Smart City Initiatives: 5G IoT companies can target smart city initiatives to expand their business scope. Developing specialized 5G IoT solutions that cater to smart technologies used in smart cities will also offer new business scope for 5G IoT companies in the future.

Increasing deployment of 5G network technology in multiple countries such as Japan, China, Hong Kong, and India allow the Asia Pacific region to dominate the global 5G IoT market. Rising demand for automation across multiple industry verticals will also create new business scope for 5G IoT companies in this region. Significant investments by governments to develop 5G infrastructure are also expected to help the Asia Pacific region’s dominance across the study period. The presence of key automotive manufacturers and the rising use of IoT by them will also boost 5G IoT market growth.