5G IoT Market worth 42.4% CAGR by 2030

Bengaluru, January – The COVID-19 pandemic is predicted to have a favourable influence on the growth rate of the 5G internet of things market, owing to an increase in demand for internet of things solutions among SMEs and major organisations in order to boost their market share and revenue prospects during the pandemic.

The epidemic has slowed the advancement of the 5G foundation in several nations. The precautions made to limit the spread of the disease have influenced the timeline of the finalisation of the 5G infrastructure standard. For example, India’s Department of Telecommunications has postponed its 2021 spectrum auction. This trend has had a negative impact on several manufacturers and telecommunications carriers in the industry.

Due to the inclinations of 5G to service many industries during this crisis, a few suppliers are converging on an invasive 5G deployment strategy in the year 2021. In the healthcare industry, a 5G intelligent robot can help with remote therapy. For example, in Wuhan, China, numerous hospitals deploy a 5G network to provide real-time assistance to patients in inaccessible places. As a result, 5G offers enormous potential for crisis help. However, the 5G implementation delay is restricting its application. Following the epidemic, the global 5G industry is likely to rise at an exponential rate.

The 5G IoT Market research report titled “5G IoT Market based on By Technology (5G New Radio Standalone Architecture, 5G New Radio Non-Standalone Architecture), By Type (Short-Range IoT devices, Wide-Range IoT devices), By Industry (Manufacturing, Government, Energy and Utilities, Transportation and Logistics, Aviation, Others (Mining), Regional Outlook– Global Forecast up to 2030”

The worldwide 5G Internet of Things market was worth $1.54 billion in 2020 and is expected to reach $286.28 billion by 2030, growing at a CAGR of 42.4% between 2021 and 2030.

In the Internet of Things era, 5G network technology allows IoT devices to increase their performance and dependability. The introduction of a 5G-enabled Internet of Things aims to extend sensor-based Internet of Things capabilities to actuators, robots, and drones for dispersed coordination and low latency reliable job execution in hands. Furthermore, the ability to connect with other IoT devices, smartphones and tablets, computer programmes, and other devices is vital to the Internet of Things’ commercial success.

In the era of 5G network technology, Internet of Things technologies such as machine-to-machine interactions with intelligent data analytics are significantly transforming the landscape of numerous sectors. Furthermore, the worldwide 5G IoT market is seeing a spike as a result of an increase in high-speed network supply, allowing IoT devices to connect and share data more quickly, which is expected to fuel 5G IoT market growth in the future years.

Because of advancements in wireless technologies, the 5G IoT market is likely to increase significantly throughout the forecast period. Furthermore, the expected increase in mobile network data traffic will provide lucrative chances for the advancement of the 5G Internet of Things market study.

The segmentation coverage of the study is provided below.

5G IoT Market based on Technology:

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

5G IoT Market based on Type:

• Short-Range IoT devices
• Wide-Range IoT devices

5G IoT Market based on Industry:

• Manufacturing
• Government
• Energy and Utilities
• Transportation and Logistics
• Aviation
• Others (Mining)

5G IoT Market based on Geography:

• North America
  o US
  o Canada
• Europe
  o Germany
  o UK
  o France
  o Italy
  o Spain
  o Rest of Europe (RoE)
• Asia Pacific (APAC)
  o China
  o Japan
  o India
  o Australia
  o South Korea
  o Rest of Asia Pacific (RoAPAC)
• Latin America (LATAM)
  o Brazil
  o Argentina
  o Rest of South America
• Middle East and Africa (MEA)
  o UAE
  o Turkey
  o Saudi Arabia
  o South Africa
  o Rest of Middle East & Africa

About IHR Insights:
We are Market Research and Consulting firm, Offers Market Intelligence, Custom Market Research, Consulting, Go-To-Market and Content Development Services. Consulting Services Includes Market Entry Strategy, Opportunity Assessment, Competition Tracking, Technology Mapping, Sentiment Analysis, Brand Reputation Management. We work on full time engagement model with clients supporting their market intelligence needs across various departments at global level. We work as a partner and provide continues support to the organizations from basic secondary research to strategic inputs in business planning and expansion.

For further inquiries or media contact:
Marketing & Communications
IHR Insights
inquiry@ihrinsights.com