5G IoT Market Size, Share, Growth Report 2032

5G IoT Market: Size

The global 5G IoT market size was worth around USD 13.84 billion in 2023 and is predicted to grow to around USD 206.16 billion by 2032 with a compound annual growth rate (CAGR) of roughly 35% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD billion). The report covers a forecast and an analysis of the 5G IoT market on a global and regional level.

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5G IoT Market: Overview

The fifth-generation network or 5G is still under development; it is targeting to reach new limits of high speed, low latency, and low power for IoT. The combination of 5G and IoT accelerates uploads and downloads, with low latency and network support.

The 5G IoT market globally is expected to gain recognition in the long run, owing to its various uses and benefits. IoT has been drastically changing businesses and consumer landscape over the last few decades. The number of IoT devices is anticipated to reach 10 billion by 2020 and 25 billion by 2025, starting from industrial devices and wearable devices to connected cars. The 5G IoT market development will also be fuelled by the growing demand for low latency. The networks of 5G IoT can also provide backing operations that require real-time access to data changes almost instantly. Moreover, the growing cases of road accidents due to the increasing volumes of road traffic is expected to propel the demand for sensors, making it one of the important aspects of road safety. This, in turn, will fuel the 5G IoT market growth globally. Furthermore, the rising use of sensors by the automation industry is likely to boost the requirement for real-time tracking, analyzing, and processing of collected data via sensors, thereby supporting the 5G IoT market growth over the forecast time period. However, high capital expenditure for infrastructural establishment of 5G IoT may curtail the 5G IoT market growth in the future.

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5G IoT Market: Segmentation

The study provides a crucial view of the 5G IoT market by segmenting it based on radio technology, range, vertical, and region. All the segments of the 5G IoT market have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

By range, the 5G IoT market is divided into short-range and wide-range IoT devices. Short-range IoT devices are anticipated to hold a substantial market share in the years ahead, owing to the developing new 5G IoT applications. Short-range IoT devices require different types of connectivity solutions to meet the ever-growing demand for high-speed connectivity by global consumers.

5G IoT Market: Report Scope

5G IoT Market: Regional Analysis

The regional segment comprises the current and forecast demand for the Middle East and Africa, North America, Asia Pacific, Latin America, and Europe. North America will witness significant growth in the global 5G IoT market in the future, owing to the extensive regional growth of wireless connectivity and connected devices. The rising use of IoT-enabled devices is further boosting the North American 5G IoT market. Developed countries like the U.S. and Canada are also driving the development of the region’s 5G IoT market.

5G IoT Market: Competitive Players

Some prominent players of the 5G IoT market are:

• Nokia
• Ericsson
• AT&T
• Huawei
• Sprint
• Verizon
• BT Group
• Telefónica
• Telstra
• Vodafone
• Telus
• Bell Canada
• Etisalat
• Rogers
• Singtel

The Global 5G IoT Market is segmented as follows:

Global 5G IoT Market: Radio Technology Analysis

• 5G New Radio Standalone Architecture
• 5G New Radio Non-Standalone Architecture

Global 5G IoT Market: Range Analysis

• Short-Range IoT Devices
• Wide-Range IoT Devices

Global 5G IoT Market: Vertical Analysis

• Manufacturing
• Energy and Utilities
• Government
• Healthcare
• Transportation and Logistics
• Mining
• Others

Global 5G IoT Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa