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5G IoT market size is set to grow by USD 77,586.17 million from 2022 to 2027; Rising adoption of 5G to boost the market - Technavio


NEW YORK, June 19, 2023 /PRNewswire/ -- The global 5G IOT market size is estimated to grow by USD 77,586.17 million from 2022 to 2027. The market is estimated to grow at a CAGR of 106.67%, during the forecast period. Discover some insights on market size historic period (2017 to 2021) and Forecast (2023 to 2027) before buying the full report -Request a sample report

5G IoT Market ? Vendor Analysis
Vendor Landscape - The global 5G IoT market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer 5g IoTin the market are Anritsu Corp., AT and T Inc., Cavalier Wireless Inc., Celona Inc., China Mobile Ltd., Deutsche Telekom AG, Nokia Corp., Qualcomm Inc., Quectel Wireless Solutions Co. Ltd., Reliance Industries Ltd., SATELIO IoTSERVICES, S.L., Semtech Corp., Sequans Communications SA, Shenzhen ThinkWill Communication Technology Co., Ltd., Telefonaktiebolaget LM Ericsson, Telenor Group, Telit IoTPlatforms LLC, Thales Group, Verizon Communications Inc., and Vodafone Group Plc and others.

What's New? -

Vendor Offerings -

5G IoT Market - Segmentation Assessment Segment Overview
Technavio has segmented the market based on Type (5G non-standalone and 5G standalone), Component (Hardware, Services, Platform, and Connectivity), and Geography (APAC, North America, Europe, Middle East and Africa, and South America). 

Geography Overview
By geography, the global 5g IoT market is segmented into APAC, North America, Europe, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global 5g IoT market.

For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 - Download a Sample Report

5G IoT Market ? Market Dynamics Leading Drivers - 

Increasing adoption of 5G is the major factor notably driving the growth of the global 5G Internet of Things market. By offering consumers a variety of use cases and business models, 5G will enable a fully mobile and connected environment. Further, the high data speed and extremely low latency of 5G technology will improve the user experience. With the inclusion of the 5G network with the IoT system in a potent digital strategy, smart manufacturers will be able to plan, operate with extreme flexibility, and accelerate the path toward an agile ecosystem of suppliers and customers, with the business at its center. However, the integration of 5G and IoT in transformation strategies has immensely accelerated the realization of the goal. For instance, in smart factories, connected hospitals, connected transportation facilities, and other locations, businesses use 5G to interact with IoT sensors. Fixed wireless access and customer premises equipment (CPE), which are common infrastructure elements in smart cities, is currently functional with fast 5G connections. Thus, the growing demand for higher data speeds is estimated to drive the growth of the market during the forecast period.

Key Trends - 

Robust demand from the healthcare industry is the emerging trend in the global 5G Internet of Things market. The digitization of healthcare is transforming the way people interact with healthcare professionals, share medical data, and make decisions. Further, many healthcare providers are using 5G IoT sensors to monitor inventory and key patients. From ambulances to medical supplies, sensors can provide live feedback identifying the location and inventory of critical medical equipment. Integrating this technology with automation enables healthcare providers to request orders when inventory is running low or send alerts directly to doctors if needed. In addition, devices such as smart screens, ventilators, and hemodialysis machines can be equipped to work with 5G LAN within the hospital system. Therefore, with the growing use of IoT in the healthcare industry, the global 5G IoT market will witness high growth during the forecast period.

Major challenges - 

The major challenge to the growth of the global 5G Internet of Things market is the lack of awareness about IoT. Most consumers are still unaware of the advantages and benefits of using IoT networks and IoT devices. Foremost electronics suppliers such as Samsung, Apple, LG, and Motorola invest heavily to raise awareness of their technology through marketing and advertising. Some consumer groups are aware of this technology, but low-value products influence the interest generated. However, the market is still in its infancy and in the early stages of development. The lack of standardization in various products such as smart locks, smart wearables, smart thermostats, and smart appliances complicates consumer purchasing decisions. Both vendors and developers are unaware of customer needs and preferences, creating a huge gap in the market. Hence, all these factors will adversely influence the growth of the global 5g IoT market during the forecast period.

Drivers, Trends and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

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Related Reports: 

The 5G equipment market is estimated to grow at a CAGR of 66.5% between 2022 and 2027. The size of the market is forecast to increase by USD 56,716.75 million. This report extensively covers market segmentation by product (macrocell, small cell, and others), end-user (non-retail sector and retail sector), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The size of the market is forecast to increase by USD 56,716.75 million. The adoption of 5G networks for smart cities is one of the key factors driving the growth of the global 5G equipment market.

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5G IoT Market Scope

Report Coverage

Details

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 106.67%

Market growth 2023-2027

USD 77,586.17 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

51.38

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 48%

Key countries

US, China, South Korea, and the UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Anritsu Corp., AT and T Inc., Cavalier Wireless Inc., Celona Inc., China Mobile Ltd., Deutsche Telekom AG, Nokia Corp., Qualcomm Inc., Quectel Wireless Solutions Co. Ltd., Reliance Industries Ltd., SATELIO IoT services, S.L., Semtech Corp., Sequans Communications SA, Shenzhen ThinkWill Communication Technology Co., Ltd., Telefonaktiebolaget LM Ericsson, Telenor Group, Telit IoTPlatforms LLC, Thales Group, Verizon Communications Inc., and Vodafone Group Plc

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Type

7 Market Segmentation by Component

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio


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