Global 5G in IoT Market Size study, by Range (Short-Range IoT Device, Wide-Range IoT Device), by Technology (5G New Radio Non-Standalone Architecture, 5G New Radio Standalone Architecture), by Component (Connectivity, Hardware, Platform, Services), by Ind

Global 5G in IoT Market Size study, by Range (Short-Range IoT Device, Wide-Range IoT Device), by Technology (5G New Radio Non-Standalone Architecture, 5G New Radio Standalone Architecture), by Component (Connectivity, Hardware, Platform, Services), by Industry (Aerospace & Defence, Energy & Utilities, Government & Public Sector, Healthcare & Life Sciences, Manufacturing, Transportation & Logistics) and Regional Forecasts 2022-2032

Global 5G in IoT Market is valued at approximately USD 6.50 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 30.32% over the forecast period 2024-2032. The integration of 5G technology within the Internet of Things (IoT) standard is propelling the advent of high-speed, reliable, and efficient wireless communication systems, imperative for the seamless functioning of contemporary IoT applications. The surge in demand for high-speed data transmission and minimal latency for real-time analytics is a fundamental driver for the expansion of the 5G in IoT market. Furthermore, the surging number of IoT devices and substantial governmental investments in smart city projects are amplifying the deployment of 5G in IoT solutions. This escalating implementation is fostering supply chain optimization and also enhancing energy management through sophisticated smart grids, thereby presenting growth prospects for the Global 5G in IoT Market.

However, the high cost associated with the deployment of 5G infrastructure and prevailing concerns regarding security and privacy within 5G IoT solutions pose substantial challenges to market growth. Despite these obstacles, the ongoing introduction of technological advancements by market vendors is expected to unveil new opportunities, fueling market expansion. The market is poised to benefit from the growing usage of 5G in wide-range IoT devices, essential for connectivity over extensive geographical areas, such as logistics tracking, smart city implementations, and agricultural monitoring.

The market segmentation by range defines the difference between short-range IoT devices, optimized for low power consumption and close-proximity interactions, and wide-range IoT devices, necessitating long-distance connectivity and robust coverage, facilitated by 5G networks. Additionally, the segmentation by technology highlights the rising potential of 5G NR non-standalone architecture, leveraging existing 4G LTE infrastructure, and the future-oriented 5G NR standalone architecture, which provides comprehensive 5G capabilities including ultra-reliable low latency communications (URLLC) and massive machine type communications (mMTC).

The key regions considered for the global 5G in IoT market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Among these, North America is accounted as the dominating region because of the rapid adoption of 5G technology across various IoT applications, driven by substantial consumer demand for enhanced connectivity and speed. The Asia Pacific region, particularly China, Japan, and India, is at the forefront of 5G in IoT deployment, bolstered by aggressive governmental support and significant investments in 5G infrastructure. Additionally, favorable regulatory initiatives in the Asia Pacific region and related investment programs, also present a fertile ground for 5G IoT market growth in the forecast period.

Major market players included in this report are:
• AT&T Inc.
• BCE Inc.
• BT Group PLC
• Capgemini SE
• China Mobile Limited
• Cisco Systems, Inc.
• Huawei Investment & Holding Co., Ltd.
• Juniper Networks, Inc.
• Nokia Corporation
• QUALCOMM Incorporated

The detailed segments and sub-segment of the market are explained below:

By Range:
• Short-Range IoT Device
• Wide-Range IoT Device

By Technology:
• 5G New Radio Non-Standalone Architecture
• 5G New Radio Standalone Architecture

By Component:
• Connectivity
• Hardware
• Platform
• Services

By Industry:
• Aerospace & Defence
• Energy & Utilities
• Government & Public Sector
• Healthcare & Life Sciences
• Manufacturing
• Transportation & Logistics

By Region:

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• ROE

Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• RoAPAC

Latin America
• Brazil
• Mexico

Middle East & Africa
• Saudi Arabia
• South Africa
• RoMEA

Years considered for the study are as follows:
• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.

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