5G IoT Market Key Vendors Overview, Industry Size & Share, Competitive Scenario and Growth strategies

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Global 5G IoT Market By Connection (Direct Connectivity, Indirect Connectivity), Radio Technology (5G NR Standalone Architecture, 5G NR Non-Standalone Architecture), Range (Short Range IoT Devices, Wide Range IoT Devices), Vertical (Manufacturing, Energy & Utilities, Government, Healthcare, Transportation & Logistics, Mining, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026

Market Analysis: Global 5G IoT Market

Global 5G IoT market is expected to rise to an estimated value of USD 6927.93 million by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value is due to the significant levels of infrastructure development activities currently taking place worldwide.

Market Definition: Global 5G IoT Market

5G IoT is the field of connectivity dealing with the interconnectivity of IoT-based devices, components and systems at a higher quality and speed. This technology deals with ensuring that limited or no latency occurs during the connectivity of devices which helps in enhancing the productivity of operations while improving the customer experience for users of these devices.

Market Drivers:

High volume of data traffic generation; this factor is expected to boost the growth of the market
Growing prevalence of IoT devices worldwide is another factor boosting the market growth
Increasing demands for low latent connectivity solutions also acts as a market driver
Market Restraints:

Requirement of significant expenditure required for the infrastructure development for the successful deployment and integration of 5G IoT services is the major factor restricting the market growth
Strict government regulations along with the issues related to the global spectrum will also restrict this market growth

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Segmentation: Global 5G IoT Market

By Connection

Direct Connectivity
Indirect Connectivity
By Radio Technology

5G NR Standalone Architecture
5G NR Non-Standalone Architecture
By Range

Short Range IoT Devices
Wide Range IoT Devices
By Vertical

Manufacturing
Energy & Utilities
Government
Healthcare
Transportation & Logistics
Mining
Others
Key Developments in the Market:

In June 2019, Singtel announced two new initiatives for Singapore’s 5G ecosystem during the Smart Nations Innovations Week. These innovations will deal with enhancing the transformation capabilities of Industry 4.0 by deploying them with 5G technology, along with innovating the maritime operations of Singapore by utilizing 5G connectivity services and solutions. These initiatives will drive business innovations and transform the manufacturing and maritime industry verticals
In February 2019, Juniper Networks, Inc. along with Telefónica S.A. the next phase of “Spain Fusión Network” for meeting the rising demands of connectivity in the region. Both organizations are focusing on further innovations and advancement of technology to ensure that they can provide high performance for connectivity and solutions for various end-users
Competitive Analysis

Global 5G IoT market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of 5G IoT market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

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Major Market Competitors/Players

Few of the major competitors currently working in the global 5G IoT market are Qualcomm Technologies, Inc.; Telefonaktiebolaget LM Ericsson; Palo Alto Networks, Inc.; Anritsu; Telenor Group; Sierra Wireless; Syniverse Technologies LLC; Nokia; Huawei Technologies Co., Ltd.; AT&T Intellectual Property; Verizon; Juniper Networks, Inc.; Sprint.com; BT; Telefónica S.A.; Vodafone Limited; Telstra; Bell Canada; Singtel among others.

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