5G IoT Market Information By Service (Enhanced Mobile Broadband (EMBB), Ultra-Reliable Low Latency Communications (URLLC), and Massive Machine Type Communications (MMTC)), By Technology (5G New Radio (NR) Standalone Architecture and 5G New Radio (NR) Non-Standalone Architecture), By Type (Short-Range IoT Devices and Wide-Range IoT Devices), By Vertical (Consumer Electronics, Automotive, Railway, Mining, Utilities, Healthcare, Agriculture, and Manufacturing), and By Region (North America, Europe, Asia-Pacific, and the Rest of the World)—Fore

Global 5G IoT Market Research (MRFR Insights)

The  5G IoT market is projected to register a CAGR of 72.80% from 2022 to 2030. The market's growth is driven by increasing demand for IoT-linked devices, increased usage of mobile broadband, an increase in device-to-device communication, and quick innovation virtualization in the networking space. The  5G internet of things market size is expected to reach approximately USD 24.8 billion by 2030. 5G offers methods like network function virtualization and network slicing to create networks tailored to each consumer. Additionally, a 5G network can provide specialized infrastructure for IoT applications to raise industry productivity. The adoption of 5G allows for a network line with a high wireless data transfer that provides real-time information by connected devices.

COVID-19 Impact Analysis

Due to the new coronavirus outbreak, the telecom industry has reported significant delays in the rollout of fifth-generation mobile services. Additionally, there is a general delay in regulatory processes, affecting the timing of spectrum releases and auctions. Governments all around the world have delayed their planned expenditures. Due to limited or unavailable network services, these affecting pointers are anticipated to influence consumers and corporate organizations. Lockdowns and other limitations on mobility have also hampered the ability of equipment makers to produce enough parts.

 5G IoT Market Dynamics

To advance IoT applications like self-driving cars, AI-enabled manufacturing floor robots, and smart grids for renewable energy, 5G allows stable, quicker, and secured communication. The enormous 5G IoT ecosystem and the expansion of the crucial communication services sector are continuing trends fueling the market expansion. The market is projected to benefit from lucrative growth prospects due to the ongoing trend of smart infrastructure construction. Smart infrastructure is one of the main uses for emerging technologies like 5G and IoT. These technologies are assisting in the provision of interconnected solutions for community well-being.

Market Drivers

• Development of wireless technologies

IoT devices are linked together utilizing various wireless technologies, providing varied advantages and use cases. Adopting Long Range Wide Area Networks (LoRaWAN), 5G, wireless sensor networks, and Internet Protocol version 6 (IPv6) would boost the need for IoT devices and increase the need for wireless technologies. In the market, the requirement to deliver expanded capacity, high data rate, and high connection has also increased due to the growing data exchange rate among numerous connected devices.

Market Restraints:

• Lack of standardization in IoT protocol

The market requires more coordination with these devices because many devices must be connected. Different hardware, operating systems, and suppliers make up the various devices. The interoperability problem in the IoT area is brought on by the incompatibility of various devices, sensors, and even the interfaces of remote servers. IoT impacts every element of human life, so the task is to harmonize these standards so that M2M communication is flexible and user-friendly.

Market Opportunities:

• Demand for private 5G networks across enterprises, governments, and industries

Local area networks, known as private 5G networks, are constructed using 5G technology as their communication channel. These networks, also known as Mobile Private Networks (MPNs) or local 5G networks, provide a unified connection with several benefits and enhanced services. They would offer next-generation connectivity for corporate applications like autonomous vehicles, connected manufacturing, healthcare, smart retail, and rural broadband access. Low latency, better throughput, and higher precision are necessary for certain use cases. The private 5G networks use 5G non-standalone and standalone designs with licensed and unlicensed bands for highly mission-critical commercial applications.

5G IoT Market Segmentation

Service Insights

The  5G internet of things market segmentation, based on service, is enhanced mobile broadband, ultra-reliable low latency communications, and massive machine-type communications. The  5G internet of things market growth was prominently high under the enhanced mobile broadband category in 2021 due to the increasing use of enhanced mobile broadband 5G technologies, such as higher-spectrum bands, to provide wireless internet to many unreached coverage regions.

Technology Insights

The  5G IoT market segmentation, based on technology, is 5G new radio standalone architecture and 5G new radio non-standalone architecture. In 2021, 5G new radio standalone architecture accounted for the largest market share of the market. The latest radio network for 5G networks is the 5G new radio standalone architecture. It primarily consists of 5G core and radio access networks (RAN). These solutions are expected to be more effective and have several new built-in capabilities like multi-Gbps support, network slicing, ultra-low latency, and virtualization.

Type Insights

Based on type, the market is divided into short-range IoT devices and wide-range IoT devices. The short-range IoT devices category dominated the market in 2021. Manufacturing, healthcare, energy & utilities, and retail all use short-range IoT devices to provide connectivity.

Vertical Insights

By vertical, the market has been segmented into consumer electronics, automotive, railway, mining, utilities, healthcare, agriculture, and manufacturing. In 2021, the manufacturing category had a major share of the market. The advent of 5G has sped up the creation of future intelligent factories with its high capacity, wireless flexibility, and low-latency performance characteristics. Manufacturers are embracing digitalization to reduce costs and boost ROI, and 5G IoT guarantees new process efficiencies and cutting-edge technological breakthroughs, increasing profitability and shop floor efficiency.

Global 5G IoT Market Share, By Region, 2021 (%)

By region, the  5G internet of things market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the most extensive market share. Asia-Pacific will exhibit the highest CAGR during the forecast period.

North America

North America dominated the market share in 2021 due to the growing need for 5G IoT services across all industry verticals in this area. Due to the growing need for highly reliable Internet access and the quick uptake of Internet-connected products, the US is predicted to dominate the market in North America. Additionally, these major players are making significant investments in 5G technology research and development, spectrum licenses, and critical network connectivity infrastructure, further fostering the expansion of the local market.

Asia-Pacific

Asia-Pacific accounted for the fastest growth rate in the market in 2021. Ongoing infrastructure investments in Asia-Pacific nations support the trend toward deploying 4G and 5G networks. The region is now implementing 5G IoT services more widely due to this. In this area, the number of 5G subscriptions is increasing quickly. The region's market is also anticipated to benefit from lower costs for powerful sensors and controllers, improved connectivity, higher internet penetration, government initiatives related to smart cities, and increasing government funding for 5G technology.

5G IoT Market Competitive Landscape

Due to government initiatives for smart cities, the industry is expanding rapidly. Major players have chosen partnerships, acquisitions, and product innovation as their primary organic growth tactics to strengthen their market positions and meet end users' expectations across verticals. Additionally, industry participants compete for early deployment while luring individual and corporate customers. In Feb 2022, AT&T collaborated with Microsoft to make the private 5G edge by integrating the AT&T 5G network with Azure private MEC to be implemented in businesses, schools, and other organizations.

Prominent players in the  5G IoT industry research include Telefonaktiebolaget LM Ericsson (Sweden), Nokia (Finland), Huawei Technologies Co. Ltd. (China), AT&T (US), Verizon (US), T-Mobile (USA), INC (US), Telefónica S.A (Spain), BT (UK), Vodafone Limited (UK), Telstra Group (Australia), Etisalat (UAE), Qualcomm Technologies Inc. (US), Sierra Wireless (Canada), Bell Canada (Canada), Singtel (Singapore), Rogers Communications Inc. (Canada), among others.

Scope of the  5G IoT Industry Report

Service Outlook

• Enhanced Mobile Broadband


• Ultra-Reliable Low Latency Communications


• Massive Machine Type Communications

Technology Outlook

• 5G New Radio Standalone Architecture


• 5G New Radio Non-Standalone Architecture

Type Outlook

• Short-Range IoT Devices


• Wide-Range IoT Devices

Vertical Outlook

• Consumer Electronics


• Automotive


• Railway


• Mining


• Utilities


• Healthcare


• Agriculture


• Manufacturing

Region Outlook

• 
  North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• 
  Europe
  
  
  
  • UK
  
  
  • Germany
  
  
  • France
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• 
  Asia-Pacific
  
  
  
  • China
  
  
  • India
  
  
  • Japan
  
  
  • Australia and New Zealand
  
  
  • Rest of Asia-Pacific
  
  
  
  


• 
  Rest of the World
  
  
  
  • South America
  
  
  • Middle East
  
  
  • Africa
  
  
  
  

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

5G IoT Market Forecast & Size:

To identify and estimate the market size for the  5G IoT industry report segmented by service, technology, type, and vertical by value (in US dollars). Also, to understand the consumption/ demand created by consumers in the  5G internet of things market forecast between 2022 and 2030

Market Landscape and Trends:

To identify and infer the drivers, restraints, opportunities, and challenges in the market growth

Market Influencing Factors:

To find out the factors which are affecting the  5G IoT market size among consumers

Impact of COVID-19:

To identify and understand the various factors involved in the market affected by the pandemic

Company Profiling:

To provide a detailed insight into the major companies operating in the market. The profiling will include the company's financial health in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Intended Audience

• Value-Added Resellers (VARs)


• Government Agencies


• Network Operators


• Technology Consultants


• Investors and Venture Capitalists