USD 3.53 Billion
5G IoT Market Size, Share, Growth Analysis, By Components(Hardware, Platform, Services),Type(Short-Range IoT Devices, Wide-Range IoT Devices), Network Type (5G Standalone, 5G Non-Standalone), Organization Size, End-Use Industry, and Region - Industry Forecast 2024-2031
Report ID:
SQMIG45A2328 |
Region:
Global |
Published Date: June, 2024
Pages:
197
|Tables:
114
|Figures:
77
5G IoT Market Insights
Global 5G IoT Market size was valued at USD 8.53 Billion in 2022 and is poised to grow from USD 12.96 Billion in 2023 to USD 136.18 Billion by 2031, growing at a CAGR of 34.12% in the forecast period (2024-2031).
The trend of integrating two advanced technologies is gaining traction around the world and this has also benefitted the demand for 5G IoT as well. Use of 5G connectivity technologies to connect different IoT devices is estimated to bolster market growth in the future. Low latency and better data transfer speeds are prime benefits of 5G technology that IoT companies will focus on going forward. Growing adoption of automation and rising popularity of connected devices will also help 5G IoT demand outlook in the future. Advancements in artificial intelligence technologies will promote the demand for edge and cloud computing, which in turn is expected to boost sales of 5G IoT devices and solutions in the long run. However, limited 5G coverage, interoperability issues, and high costs of 5G infrastructure development are estimated to impede 5G IoT market development through 2031.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Hardware
Fastest Growth
Service
Growth Rate
50.2% CAGR
Global 5G IoT Market ($ Bn)
Country Share for North America Region (%)
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5G IoT Market Segmental Analysis
The global 5G IoT market is segmented based on component, type, enterprise size, network architecture, end user, and region. Based on type, the market is further sub-segmented into short-range IoT devices (range up to 100 meter), wide-range IoT devices (Range more than 100 meter). In terms of enterprise size, the market is segmented into large enterprises and small and medium enterprises (SMEs). Based on component, the market is further sub-segmented into hardware, software, and services. Based on network architecture, the market is further sub-segmented into 5G Standalone and 5G non-standalone. Based on end user, the market is further sub-segmented into manufacturing, healthcare, energy and utilities, automotive and transportation, supply chain and logistics, agriculture, government and public safety, and others. Based on Region, North America, Europe, Latin America, Asia Pacific, Middle East and Africa.
Analysis by Enterprise Size
Large enterprises are forecasted to lead the adoption of 5G IoT owing to their high spending potential. Large enterprises can afford to invest in the development of expensive 5G infrastructure, which is why most 5G IoT companies will target this segment in the future. Rising use of automation in multiple large enterprises will also create new opportunities for 5G IoT companies in the future.
On the other hand, the use of 5G IoT is projected to increase at a rapid pace in small and medium enterprises over the coming years. As 5G technology becomes more mainstream, its costs are expected to reduce significantly in the future and promote the use of 5G IoT in SMEs. Growing awareness regarding several benefits of 5G IoT deployment among SMEs will also help this segment boost 5G IoT market growth at a notable CAGR across the study period and beyond.
Analysis by Component
Hardware is projected to account for a notable chunk of the global 5G IoT market share as companies invest in the development of 5G compatible hardware. From industries to consumers, the demand for 5G IoT devices will witness a notable surge in demand thereby boosting sales of hardware components as well. The different network architecture of 5G technology also calls for the development of new and specialized hardware components to enable 5G IoT adoption.
On the other hand, the demand for 5G IoT services is set to increase at an impressive CAGR over the coming years. Rising use of 5G technology in multiple connected devices will create an opportune scenario for 5G IoT providers going forward. An increasing number of companies are focusing on outsourcing their 5G IoT services to minimize their operational expenses.
Global 5G IoT Market By Component
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5G IoT Market Regional Insights
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.
High investments in 5G infrastructure development coupled with established technological infrastructure helps North America become the most opportune market for 5G IoT companies. The presence of top IoT and 5G providers in this region and quick adoption of novel technologies will also create an opportune setting for 5G IoT market players in this region. Canada and the United States are expected to be the top markets for 5G IoT companies looking to make a mark in this region.
Global 5G IoT Market By Region
- Largest
- Fastest
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5G IoT Market Dynamics
Drivers
Large Scale Deployment of 5G Networks
- 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.
High Use of Connected Devices
- From automation to remote operations, connected devices are everywhere. 5G IoT connected devices utilize the high data transfer speeds of 5G technology and make them more efficient and capable. Rise in demand for advanced connected devices will bolster market growth over the coming years.
Restraints
Interoperability Issues
- 5G IoT solutions are highly advanced and integrating them with legacy infrastructure or systems is very complex as well. Lapses in integration due to incompatibility are hampering 5G IoT market development.
High Costs of 5G Infrastructure Development
- Deployment of 5G requires substantial investments in 5G infrastructure development and not every country or organization can spend heftily on this, which impedes 5G IoT demand to a certain extent.
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5G IoT Market Competitive Landscape
The global 5G IoT market is projected to emerge as highly opportune owing to rising investments in digitization and electrification of the 5G industry. The launch of new 5G IoT solutions is projected to be the prime focus of all 5G IoT market players. Integration of advanced technologies to improve the overall driving experience using 5G IoT products will also provide new opportunities for 5G IoT companies going forward. Collaborations with 5G companies will be highly vital for 5G IoT providers in the long run.
Top Player’s Company Profiles
- 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.
Recent Developments
- A leading LEO satellite communications organization called Sateliot, announced that it had secured a spot-on SpaceX’s Transporter 11 mission to bring 4 more LEO satellites into its constellation to improve commercial 5G services across the globe. The company announced this in May 2024.
- MediaTek, a renowned Taiwanese semiconductor manufacturer, launched a new T300 platform designed especially for 5G IoT devices. The platform is 70% more power efficient as compared to 5G IoT platforms currently available in the market at the time of its launch in February 2024 with peak download speeds of 227 Mbps.
5G IoT Key Market Trends
- 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.
5G IoT Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, rising use of connected technologies, high adoption of cloud computing, and growing investments in expansion of 5G networks are estimated to drive 5G IoT market growth going forward. On the contrary, lack of standardization, high costs of 5G infrastructure, and interoperability concerns are slated to slow down 5G IoT demand outlook. Asia Pacific region takes the crown in terms of global 5G IoT market share owing to the launch of multiple 5G network services in this region. Japan, China, and Hong Kong are anticipated to be the most opportune markets in the APAC region. Targeting smart city initiatives will help 5G IoT providers maximize their business scope in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 8.53 Billion |
| Market size value in 2031 | USD 136.18 Billion |
| Growth Rate | 34.12% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on 5G IoT Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on 5G IoT Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the 5G IoT Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the 5G IoT Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the 5G IoT Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the 5G IoT Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
5G IoT Market Report Snapshots
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