Global 5G IoT Market is expected to grow from USD 0.8 Bn in 2019 to USD 6.8 Bn by 2027, at CAGR of 42.86% during forecast period.
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The first generation mobile network (1G) was all about voice. 2G was about voice and texting; 3G was about voice, texting, and data; 4G was everything in 3G but faster; and 5G will be even faster; it will be fast enough to download a full-length HD movie in seconds. With connectivity at the heart of industry transformation, 5G IoT will have a key role to play not just in the evolution of communication but in the evolution of businesses and society as a whole. On the road to 5G IoT companies will need to do more than just evolve networks; they will need to transform their business to address new opportunities.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Major driving factors in the 5G IoT Market are increasing demand in mobile broadband, the rising penetration of smartphones and smart wearable devices, growing demand of mobile video adoption, also increased investments by various governments in digitalization. For instance, the governments of South Korea, Japan, US and China have also been particularly active in pushing the rollout of 5G IoT technology in the 2020.
Report covers in depth analysis of growth restraining factors such as high capex for infrastructure, cyber security concern, integration with existing technology, uncertain returns on investment.
Global 5G IoT Market Segmentation Analysis:
Global 5G IoT Market is segmented by Connection, by Radio Technology, By Range, by vertical and by Region. By radio technology, market is segmented into 5G New Radio Standalone Architecture and 5G New Radio Non-Standalone Architecture. Among these the 5G new radio standalone architecture segment is expected to lead the market with xx% market share over forecast period. This is due to wide range of functionalities and core features that the architecture provides. The 5G new radio standalone solutions have various new built-in capabilities like ultra-low latency, network slicing, Control and User Plane Separation (CUPS), multi-Gbps support, and virtualization.
By Range, market is segmented into Short-Range IoT Devices and Wide-Range IoT Devices. The short range IoT devices segment is expected to exhibit highest market share in 2020 and expected to keep its dominance over forecast period. Short-range IoT devices are used in building connectivity devices in manufacturing, healthcare, energy and utilities, and retail sectors.
Global 5G IoT Market Regional Analysis:
By geography, North America is expected to hold the largest share in the Global 5G IoT Market during the forecast period thanks to an increasing number of connected IoT devices in the region. In North American 5G IoT market US alone expected to exhibit 65% market share. Verizon has planned to roll out 5G services across 30 cities in the US by the end of 2020. T-Mobile has also announced to launch 5G services in 25 cities. AT&T has already introduced 5G services in 12 cities. These service providers have collaborated with network enablers such as Ericsson, Nokia, and Samsung, to launch 5G services across the US.
North America is followed by APAC. The large population in the APAC has created a wide pool of mobile subscribers for telecom companies. The region is the largest contributor to the total number of mobile subscribers across the world and would add more subscribers to its network in the upcoming years. Many APAC countries such as China, India, Japan, and Australia are moving toward digital transformation. APAC is set to dominate the 5G IoT market, due to its size, diversity, and the logical lead taken by countries, including South Korea, China, and Japan.
Global 5G IoT Market Competitive Landscape:
Global 5G IoT Market2
Report covers key development and company profiles of potential players, followers and new entrants. Some of the major players operating in this market are Ericsson, Nokia, Huawei, AT&T, Verizon, Sprint, Telefónica, BT Group, Vodafone, Telstra, and Etisalat. By using various organic and inorganic growth strategies such as strategic alliance, expansion, collaboration, joint ventures and patent etc. these players are increasing their business operations and regional presence. For instance two companies, Imaginalis and El.En, are collaborating with Ericsson to use the latter’s expertise and 5G IoT technologies to make surgery more precise, less expensive and reduce side effects for patients.
Global 5G IoT Market Recent Development in Market
• In Dec 2018, Nokia signed and Telefónica a MoU in which both the companies agreed to build “Early 5G Innovation Cluster" in Berlin. This innovation cluster will offer a platform to test Nokia’s 5G technology under real-life conditions with subscribers of Telefónica Deutschland network.
• In Feb 2019, Nokia cooperated with Vodafone on active antennas to improvement 5G radio capacity and reduce the total cost of ownership.
• Verizon announced its secure wireless access (FWA) 5G product at the MWC Americas 2018 which is anticipated to launch simultaneously in four U.S cities.
The objective of the report is to present a comprehensive analysis of Global 5G IoT Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global 5G IoT Market dynamics, structure by analyzing the market segments and project the Global 5G IoT Market size. Clear representation of competitive analysis of key players by Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global 5G IoT Market make the report investor’s guide.
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Global 5G IoT Market, By Connection
• Direct Connectivity
• Indirect Connectivity
Global 5G IoT Market, By Radio Technology
• 5G New Radio Standalone Architecture
• 5G New Radio Non-Standalone Architecture
Global 5G IoT Market, By Range
• Short-Range IoT Devices
• Wide-Range IoT Devices
Global 5G IoT Market, By Vertical
• Energy and Utilities
• Transportation and Logistics
Global 5G IoT Market, By Region
• North America
• Asia Pacific
• Middle East and Africa
• Latin America
Key players in Global 5G IoT Market
Global 5G IoT Market Service Providers
• China Mobile
• KT Corporation
• NEC Corporation
• SK Telecom Co. Ltd
Global 5G IoT Market Hardware Providers
• Cisco Systems Inc.
• Qualcomm Incorporated
• Samsung Electronics Co. Ltd
• Broadcom Corporation
• Bell Canada
• Deutsche Telekom AG
• ZTE Corporation
This Report Is Submitted By : Maximize Market Research Company
Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.