PUBLISHER: Meticulous Research | PRODUCT CODE: 1184639
PUBLISHER: Meticulous Research | PRODUCT CODE: 1184639
The research report titled "5G IoT Market Component (Solutions, Connectivity Services), Architecture (5G NR Standalone, 5G NR Non-standalone), Application (Autonomous Vehicles, Security & Surveillance), End User, and Geography - Global Forecasts to 2030", provides in-depth analysis of 5G IoT market across five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2030.
The global 5G IoT market is expected to reach $17.68 billion by 2030, growing at a CAGR of 47.6% during the forecast period of 2023-2030.
The growth of this market is attributed to the growing significance of 5G IoT devices in smart city projects and the increasing demand for digital wearable devices. In addition, the high potential for 5G IoT in connected healthcare is expected to offer significant growth opportunities for the growth of this market. High costs for 5G IoT network installation and security & data privacy concerns are creating challenges for market growth.
Based on component, the market is segmented into solutions and connectivity services. In 2022, the solutions segment accounted for the larger share of the overall 5G IoT market. The proliferation of wireless technologies in industry operations is expected to drive market growth.
Based on device range, the market is segmented into short-range and wide/long-range. In 2022, the short-range segment accounted for the larger share of the overall 5G IoT market. The growth of the segment is attributed to the rising need for improving short-range connectivity and coverage rate.
Based on architecture, the market is segmented into 5G NR Standalone (SA) and 5G NR Non-standalone (NSA). In 2022, the 5G NR Non-standalone (NSA) segment is expected to account for the larger share of the overall 5G IoT market. The growth of this segment is attributed to the rising need for reliable communications and increasing delivery efficiency at a low cost.
Based on application, the market is segmented into autonomous vehicles, connected cars, industry 4.0, smart energy & utilities, smart farming, security & surveillance, smart healthcare, asset tracking, smart logistics & supply chains, smart consumer electronics, and other applications. In 2022, the security & surveillance segment is expected to account for the largest share of the overall 5G IoT market. Thus, the rising need to monitor multiple locations and facility conditions in real-time drives market growth.
Based on end user, the market is segmented into B2B end users (business-to-business) and B2C end users (business-to-consumer). In 2022, the B2B end-user segment is expected to account for the larger share of the overall 5G IoT market. The growth of this segment is attributed to the rising need for predicting performance to improve efficiency.
Based on geography, the market is broadly segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, Asia-Pacific accounted for the largest share of 46.7% of the global 5G IoT market. The large market share of this segment is attributed to the increasing investments in 5G IoT devices, rising deployments of 5G IoT solutions, and increasing collaborations for deploying smart solutions across the region. Additionally, this region is expected to register the highest CAGR during the forecast period.
The key players operating in the global 5G IoT market are Telefonaktiebolaget LM Ericsson (Sweden), Nokia Corporation (Finland), Qualcomm Incorporated (U.S.), AT&T Inc. (U.S.), Vodafone Limited (U.K.), SK Telecom Co., Ltd. (South Korea), Samsung Electronics Co., Ltd. (South Korea), NEC Corporation (Japan), Telit (U.K.), Cisco Systems, Inc. (U.S.), Intel Corporation (U.S.), ZTE Corporation (China), IBM Corporation (U.S.), Thales Group (France), Sierra Wireless, Inc. (Canada), T-Mobile US, Inc. (U.S.), Verizon Communications Inc. (U.S.), Juniper Networks Inc. (U.S.), and Huawei Technologies Co., Ltd. (China).
Market by Component
Market by Device Range
Market by Architecture
Market by Application
Market by End User
Market by Geography