Press release
The Role Of Surging Mobile Data Traffic In Driving 5G IoT Market Expansion: Key Factor Driving The Growth In The 5G IoT Market
5G IoT
What Is the Expected 5G IoT Market Size During the Forecast Period?
In recent years, the size of the 5G IoT market has expanded dramatically. It is projected to rise from $12.13 billion in 2024 to $20.03 billion in 2025, indicating a compound annual growth rate (CAGR) of 65.2%. Factors such as the development of mobile networks, the prevalence of smart devices, a spike in data production, government backing and initiatives, and global economic circumstances have contributed to the growth during the historic period.
The size of the 5G IoT market is projected to witness tremendous expansion in the forthcoming years, hitting $161.75 billion in 2029, with a compound annual growth rate (CAGR) of 68.6%. The expected surge within this segment can be connected to the heightened uptake of IoT, the adoption of smart manufacturing practices, increased global connectivity needs, the implementation of digital transformation strategies, and significant investments in 5G network infrastructure. The forecast period is likely to see significant trends such as the incorporation of artificial intelligence, the creation of tailored virtual networks, the development of 5G-motivated smart cities, the integration of blockchain technology, and collaboration within the ecosystem.
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What Are the High-Growth Segments in the 5G IoT Market?
The 5G IoT market covered in this report is segmented -
1) By Component: Solution, Hardware, Software and Platform, Services
2) By Network Type: 5G Standalone (SA), 5G Non-Standalone (NSA)
3) By Enterprise Size: Large Enterprises, Small and Medium Enterprises
4) By End User: Manufacturing, Healthcare, Energy and Utilities, Automotive and Transportation, Supply Chain and Logistics, Government and Public Safety, Agriculture, Other End Users
Subsegments:
1) By Solution: Connectivity Solutions, Device Management Solutions, Security Solutions
2) By Hardware: IoT Devices (Sensors, Actuators), Gateways, Network Equipment
3) By Software and Platform: Analytics Software, Application Development Platforms, Operating Systems
4) By Services: Consulting Services, Integration Services, Managed Services
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What Key Drivers Are Expected to Influence Future 5G IoT Market Growth?
The escalating amount of mobile network data traffic is set to accelerate the growth of the 5G IoT market. The role of 5G IoT is pivotal in managing substantial mobile network data traffic and extensive user amounts, which includes IoT devices. The growth of 5G IoT is bolstered by high volumes of mobile network data traffic as it offers fast, reliable, low-latency, and secure connections. A case in point is a recent report by Ericsson, a telecommunications firm based in Sweden. The report reveals that there was a 40% increase in global data traffic on mobile networks from Q1 2021 to Q1 2022. Furthermore, from Q4 2021 to Q1 2022, there was a quarter over quarter growth of about 10% in mobile network data traffic. This underlines the fact that the increase in mobile network data traffic is propelling the growth of the 5G IoT market.
Which Companies Hold the Largest Share Across Different 5G IoT Market Segments?
Major companies operating in the 5G IoT market include Samsung Electronics Co. Ltd., China Mobile Ltd., Verizon Communications Inc., Deutsche Telekom AG, AT&T Inc., Huawei Technologies Co. Ltd., T-Mobile International AG, China Telecom Corporation Limited, LG Electronics Inc., Intel Technology Corporation, Cisco Systems Inc., NTT Docomo Inc., China Unicom Limited, Vodafone Group plc, Orange S.A., Telefonica S.A, Qualcomm Technologies Inc., Fujitsu Ltd., BT Group plc, Ericsson AB, Nokia Corporation, NEC Corporation, Telstra Corporation Limited, Thales Group, KT Corporation, TIM S.p.A., ZTE Corporation, SK Telecom Co. Ltd., Swisscom AG, Singtel Optus Pty Limited
What Trends Are Driving Growth in The 5G IoT Market?
The rise in technological innovations is a significant trend being observed in the 5G IoT market. The primary businesses in the sector are creating sophisticated technologies and software to maintain their market presence. For example, Radisys Corporation, an American company offering open telecom solutions, unveiled its Connect RAN 5G IoT software stack in February 2022. This comprehensive suite offers a wide array of 5G RAN technology elements. It includes exclusive features such as technology for various IoT use cases, metering, asset tracking, ultra-low latency, time-sensitive industrial installations, video surveillance, and wearable technology implementation. With minimal upfront capital expenditure, Radisys' Connect RAN 5G IoT software ensures a swift time-to-market for new use cases.
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What Are the Emerging Geographies for The 5G IoT Market Growth?
North America was the largest region in the 5G IoT market in 2024. The regions covered in the 5G IoT market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the 5G IoT Market?
2. What is the CAGR expected in the 5G IoT Market?
3. What Are the Key Innovations Transforming the 5G IoT Industry?
4. Which Region Is Leading the 5G IoT Market?
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