The new report by Expert Market Research titled, ‘Global 5G IoT Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global 5g iot market, assessing the market based on its segments like component, technology, end-user, and?major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with?analyzing?the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 53 Billion
- Forecast CAGR (2021-2026): 74.19%
- Forecast Market Size (2026): USD 42.34 Billion
The growth in the global market for 5G IoT is being driven by the rising market penetration of IoT connected devices and the increasing demand for enhanced connectivity in order to provide seamless communication between these devices. In addition, the demand for 5th generation is also rising for its ability to support a massive number of devices, low-latency, and high speed and bandwidth. As a result of enhanced connectivity between devices, various end-use industries including healthcare, manufacturing, retail, and construction, among others utilise IoT in various applications, and hence augmenting the growth of the market.
Industry Definition and Segmentation
IoT or the internet of things technology is the extension of internet connectivity to physical objects for everyday use. It is an advanced digital technology that connects and delivers data across different devices through wireless technology like 5G. 5G refers to the 5th generation of wireless technology with reduced latency to allow for real time communication and improved data transfer.
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On the basis of component, the market can be divided into:
The services segment can be further segmented into professional services and managed services.
Based on technology, the market can be categorised into:
- Ultra-Reliable Low-Latency Communications (URLLC)
- Low-Power Wide-Area Network (LPWAN)
On the basis of end-user, the market can be fragmented into:
- Smart Cities
- Energy and Utilities
- Transportation and Logistics
- Smart Homes
- Oil and Gas
The regional markets for the product include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The rise in the global market for 5G IoT is expected to be driven by the gradual adoption of smart home infrastructure with IoT connected devices such as HVAC systems, air conditioners, and security systems, among others. In addition to this, owing to robust investments towards the development of advanced digital technology and the rising emergence of smart cities in various economies is expected to have a positive influence over the market growth of 5G IoT for enhanced communication, better storage capabilities, and unapparelled speed thereby furthering the market growth. As a result of robust spending on advanced technologies and the increasing market penetration of consumer appliances like smartphones, the market is further anticipated to grow over the forecast period.
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Key Market Players
The major players in the market are Nokia Corporation, AT&T Inc., Cisco Systems, Inc., Telefonaktiebolaget LM Ericsson, Verizon Communications Inc., and Vodafone Limited, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.
At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.
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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
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