5G IoT Market Size, Trends and Insights By Type (Devices, Platforms, Services), By Application (Smart Cities, Industrial IoT, Connected Vehicles, Healthcare), By End-User (Manufacturing, Healthcare, Transportation & Logistics, Agriculture), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Qualcomm Technologies Inc.
- Huawei Technologies Co. Ltd.
- Ericsson
- Nokia Corporation
- Intel Corporation
- Others
Reports Description
Global 5G IoT Market is anticipated to experience substantial growth from 2023 to 2032, driven by the increasing adoption of 5G technology across various industries.
The market is projected to achieve a Compound Annual Growth Rate (CAGR) of approximately 36.5% during this period. In 2023, the market is estimated to be valued at USD 13.9 Billion, and it is expected to reach USD 61.7 Billion by 2032.
5G IoT solutions play a pivotal role in enabling connectivity and advanced applications across diverse sectors.
Factors Influencing the 5G IoT Market Growth:
- Advancements in 5G Technology: Ongoing developments and enhancements in 5G technology contribute to improved connectivity, lower latency, and higher data transfer speeds. This drives the demand for 5G IoT solutions across industries seeking advanced and reliable connectivity.
- Smart Cities Implementation: The deployment of 5G IoT solutions in smart cities for various applications, including smart infrastructure, public safety, and efficient urban management, propels market growth. The integration of 5G enables real-time communication and data processing in smart city initiatives.
- Industrial IoT Adoption: Industries, such as manufacturing and logistics, are increasingly adopting 5G IoT for industrial automation, predictive maintenance, and supply chain optimization. The high reliability and low latency of 5G contribute to the efficient functioning of IoT applications in industrial settings.
- Connected Vehicles: The automotive industry leverages 5G IoT for connected vehicles, enabling features like autonomous driving, real-time navigation, and vehicle-to-everything (V2X) communication. The demand for enhanced connectivity in the transportation sector drives the growth of 5G IoT solutions.
- Healthcare Applications: In the healthcare sector, 5G IoT facilitates remote patient monitoring, telemedicine, and the integration of IoT devices for healthcare management. The reliability and high-speed connectivity of 5G contribute to the expansion of IoT applications in healthcare.
- Agricultural IoT Solutions: The agriculture sector adopts 5G IoT for precision farming, monitoring crop conditions, and managing agricultural equipment. The use of IoT sensors and devices powered by 5G enhances efficiency in agriculture, contributing to market growth.
- IoT Platforms and Services: The availability of robust IoT platforms and services that leverage 5G technology supports the seamless integration and management of IoT devices. This ecosystem accelerates the adoption of 5G IoT solutions across various industries.
Global 5G IoT Market – Mergers and Acquisitions:
Qualcomm’s Collaboration with Nokia
- Details: Qualcomm collaborated with Nokia to develop 5G IoT solutions for industrial applications.
- Impact: The partnership aimed to create innovative IoT solutions that leverage the strengths of both companies, fostering advancements in industrial IoT applications.
AT&T’s Acquisition of Telit Communications PLC:
- Details: AT&T acquired Telit Communications PLC, a leading provider of IoT solutions.
- Impact: The acquisition strengthened AT&T’s position in the IoT market, allowing the company to offer a comprehensive suite of 5G IoT services to its customers.
Vodafone’s Partnership with Samsung Electronics:
- Details: Vodafone partnered with Samsung Electronics to explore and develop 5G IoT solutions.
- Impact: The collaboration aimed to drive the development of IoT applications across various industries, leveraging the capabilities of both companies in connectivity and device innovation.
COMPARATIVE ANALYSIS OF THE RELATED MARKET
| 5G IoT Market | Mobile Core Network Market | Private 5G Network Market |
| CAGR 36.5% (Approx) | CAGR 8.2% (Approx) | CAGR 49.7% (Approx) |
| USD 61.7 Billion by 2032 | USD 48.3 Billion by 2032 | USD 41.80 Billion by 2032 |
Challenges Impacting the 5G IoT Market:
Interoperability and Standardization
- Challenge: Ensuring interoperability and standardization of 5G IoT devices and platforms to facilitate seamless communication and integration.
- Impact: Lack of standardization may lead to compatibility issues and hinder the widespread adoption of 5G IoT solutions across diverse applications.
Data Security and Privacy Concerns
- Challenge: Addressing concerns related to the security and privacy of data transmitted and processed by 5G IoT devices.
- Impact: Security vulnerabilities may erode trust in 5G IoT solutions, particularly in sectors dealing with sensitive information such as healthcare and finance.
Network Infrastructure Deployment
- Challenge: The deployment of robust 5G network infrastructure to support the increased demand for high-speed and low-latency connectivity.
- Impact: Inadequate network infrastructure may limit the effectiveness of 5G IoT applications, particularly in remote or underdeveloped areas.
Regulatory Compliance
- Challenge: Navigating complex regulatory frameworks and ensuring compliance with evolving standards in different regions.
- Impact: Regulatory challenges may delay the deployment of 5G IoT solutions and create barriers to market entry for companies.
Energy Consumption
- Challenge: Addressing the energy consumption concerns associated with the widespread deployment of 5G IoT devices.
- Impact: High energy consumption may limit the sustainability of 5G IoT solutions, especially in applications where devices are deployed on a massive scale.
Market Competition and Innovation
- Challenge: Intense competition in the 5G IoT market, requires companies to continually innovate to differentiate their offerings.
- Impact: Companies need to invest in research and development to stay competitive and meet the evolving demands of industries adopting 5G IoT.
Customization for Industry-Specific Applications
- Challenge: Tailoring 5G IoT solutions to meet the specific requirements of different industries and applications.
- Impact: Customization is crucial for the successful implementation of 5G IoT in diverse sectors, and failure to meet industry-specific needs may limit adoption.
Environmental Impact
- Challenge: Addressing the environmental impact of manufacturing, deploying, and disposing of 5G IoT devices.
- Impact: Environmental considerations are increasingly important, and companies need to adopt sustainable practices to align with global initiatives and regulations.
Market Adoption in Emerging Industries
- Challenge: Gaining market adoption in emerging industries that may have unique requirements and standards for 5G IoT applications.
- Impact: Companies entering new markets need to adapt their 5G IoT technologies to meet the specific needs of emerging industries.
Report Scope
| Feature of the Report | Details |
| Market Size in 2023 | USD 13.9 Billion |
| Projected Market Size in 2032 | USD 61.7 Billion |
| Market Size in 2022 | USD 9.8 Billion |
| CAGR Growth Rate | 36.5% CAGR |
| Base Year | 2022 |
| Forecast Period | 2024-2033 |
| Key Segment | By Type, Application, End-User and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Segmentation Analysis of the 5G IoT Market:
By Type
- Devices: 5G-enabled IoT devices, including sensors, actuators, and other connected devices.
- Platforms: 5G IoT platforms facilitating the development, deployment, and management of IoT applications.
- Services: Services related to 5G IoT, including connectivity services, consulting, and support.
By Application
- Smart Cities: 5G IoT applications for smart infrastructure, public services, and urban management.
- Industrial IoT: 5G IoT solutions for industrial automation, predictive maintenance, and supply chain optimization.
- Connected Vehicles: 5G IoT applications in the automotive sector for connected and autonomous vehicles.
- Healthcare: 5G IoT solutions for remote patient monitoring, telemedicine, and healthcare management.
By End-User
- Manufacturing: Adoption of 5G IoT in manufacturing for automation, monitoring, and optimization.
- Healthcare: Implementation of 5G IoT in healthcare for remote monitoring and telemedicine.
- Transportation & Logistics: Utilization of 5G IoT in logistics for tracking, optimization, and predictive maintenance.
- Agriculture: Integration of 5G IoT in agriculture for precision farming, monitoring, and equipment management.
Regional Analysis of the 5G IoT Market:
North America:
Market Overview: North America is a leading market for 5G IoT, driven by strong technological infrastructure and widespread adoption across industries.
Factors Driving Growth
- Rapid deployment of 5G networks.
- High demand for IoT solutions in smart cities and industrial applications.
- Innovation in connected vehicle technologies.
Europe:
Market Overview: Europe emphasizes 5G IoT for industrial applications, smart cities, and healthcare, supported by regulatory initiatives and infrastructure investments.
Factors Driving Growth:
- Government initiatives for smart city development.
- Focus on industrial automation and Industry 4.0.
- Adoption of 5G IoT in healthcare for improved services.
Asia-Pacific:
Market Overview: The Asia-Pacific region experiences significant growth in 5G IoT, driven by rapid urbanization, industrialization, and advancements in telecommunications.
Factors Driving Growth
- Large-scale infrastructure projects in smart cities.
- Increasing adoption of 5G in manufacturing and logistics.
- Proliferation of connected devices in consumer applications.
Latin America:
Market Overview: Latin America shows growing interest in 5G IoT, driven by developments in the automotive sector and increasing investments in smart city projects.
Factors Driving Growth
- Expansion of connected vehicle technologies.
- Government initiatives for smart city development.
- Increasing awareness and adoption of IoT solutions.
Middle East and Africa:
Market Overview: The Middle East and Africa witness steady growth in 5G IoT, influenced by infrastructure development and initiatives in healthcare and agriculture.
Factors Driving Growth
- Investments in smart infrastructure projects.
- Adoption of 5G IoT in healthcare for remote services.
- Integration of IoT in agriculture for improved efficiency.
Key Observations:
- Global Demand Dynamics: The global demand for 5G IoT is driven by the adoption of 5G technology in various industries, with applications ranging from smart cities to industrial automation and healthcare.
- Regional Variances: While each region contributes to the overall growth of the market, the specific factors driving demand may vary. For example, in North America, the focus is on smart city initiatives and connected vehicles, while in Asia-Pacific, rapid urbanization and industrialization play a crucial role.
- Investments and Projects: Regions with significant investments in 5G network deployment, smart city projects, and large-scale industrial initiatives create substantial opportunities for the adoption of 5G IoT solutions.
- Market Challenges: Regional challenges, such as regulatory hurdles, infrastructure limitations, and industry-specific requirements, can impact the growth trajectory of the 5G IoT market in specific areas.
- Technology Transfer: The transfer of advanced 5G IoT technologies from developed regions to emerging economies contributes to the widespread adoption of 5G IoT solutions, especially in regions with growing industrial activities.
List of the prominent players in the 5G IoT Market:
- Qualcomm Technologies Inc.
- Huawei Technologies Co. Ltd.
- Ericsson
- Nokia Corporation
- Intel Corporation
- Verizon Communications Inc.
- AT&T Inc.
- Vodafone Group Plc
- Cisco Systems Inc.
- Deutsche Telekom AG
- Samsung Electronics Co. Ltd.
- China Mobile Limited
- Telefonaktiebolaget LM Ericsson (Ericsson)
- Sierra Wireless
- Telit Communications PLC
- Others
The 5G IoT Market is segmented as follows:
By Type
- Devices
- Platforms
- Services
By Application
- Smart Cities
- Industrial IoT
- Connected Vehicles
- Healthcare
By End-User
- Manufacturing
- Healthcare
- Transportation & Logistics
- Agriculture
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global 5G IoT Market, (2024 – 2033) (USD Billion)
- 2.2 Global 5G IoT Market: snapshot
- Chapter 3. Global 5G IoT Market – Industry Analysis
- 3.1 5G IoT Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Advancements in 5G Technology
- 3.2.2 Smart Cities Implementation
- 3.2.3 Industrial IoT Adoption
- 3.2.4 Connected Vehicles
- 3.2.5 Healthcare Applications
- 3.2.6 Agricultural IoT Solutions
- 3.2.7 IoT Platforms and Services.
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Type
- 3.7.2 Market Attractiveness Analysis By Application
- 3.7.3 Market Attractiveness Analysis By End-User
- Chapter 4. Global 5G IoT Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global 5G IoT Market: company market share, 2022
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, collaboration, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global 5G IoT Market – Type Analysis
- 5.1 Global 5G IoT Market Overview: By Type
- 5.1.1 Global 5G IoT Market Share, By Type, 2022 and – 2033
- 5.2 Devices
- 5.2.1 Global 5G IoT Market by Devices, 2024 – 2033 (USD Billion)
- 5.3 Platforms
- 5.3.1 Global 5G IoT Market by Platforms, 2024 – 2033 (USD Billion)
- 5.4 Services
- 5.4.1 Global 5G IoT Market by Services, 2024 – 2033 (USD Billion)
- 5.1 Global 5G IoT Market Overview: By Type
- Chapter 6. Global 5G IoT Market – Application Analysis
- 6.1 Global 5G IoT Market Overview: By Application
- 6.1.1 Global 5G IoT Market Share, By Application, 2022 and – 2033
- 6.2 Smart Cities
- 6.2.1 Global 5G IoT Market by Smart Cities, 2024 – 2033 (USD Billion)
- 6.3 Industrial IoT
- 6.3.1 Global 5G IoT Market by Industrial IoT, 2024 – 2033 (USD Billion)
- 6.4 Connected Vehicles
- 6.4.1 Global 5G IoT Market by Connected Vehicles, 2024 – 2033 (USD Billion)
- 6.5 Healthcare
- 6.5.1 Global 5G IoT Market by Healthcare, 2024 – 2033 (USD Billion)
- 6.1 Global 5G IoT Market Overview: By Application
- Chapter 7. Global 5G IoT Market – End-User Analysis
- 7.1 Global 5G IoT Market Overview: By End-User
- 7.1.1 Global 5G IoT Market Share, By End-User, 2022 and – 2033
- 7.2 Manufacturing
- 7.2.1 Global 5G IoT Market by Manufacturing, 2024 – 2033 (USD Billion)
- 7.3 Healthcare
- 7.3.1 Global 5G IoT Market by Healthcare, 2024 – 2033 (USD Billion)
- 7.4 Transportation & Logistics
- 7.4.1 Global 5G IoT Market by Transportation & Logistics, 2024 – 2033 (USD Billion)
- 7.5 Agriculture
- 7.5.1 Global 5G IoT Market by Agriculture, 2024 – 2033 (USD Billion)
- 7.1 Global 5G IoT Market Overview: By End-User
- Chapter 8. 5G IoT Market – Regional Analysis
- 8.1 Global 5G IoT Market Regional Overview
- 8.2 Global 5G IoT Market Share, by Region, 2022 & – 2033 (USD Billion)
- 8.3. North America
- 8.3.1 North America 5G IoT Market, 2024 – 2033 (USD Billion)
- 8.3.1.1 North America 5G IoT Market, by Country, 2024 – 2033 (USD Billion)
- 8.3.1 North America 5G IoT Market, 2024 – 2033 (USD Billion)
- 8.4 North America 5G IoT Market, by Type, 2024 – 2033
- 8.4.1 North America 5G IoT Market, by Type, 2024 – 2033 (USD Billion)
- 8.5 North America 5G IoT Market, by Application, 2024 – 2033
- 8.5.1 North America 5G IoT Market, by Application, 2024 – 2033 (USD Billion)
- 8.6 North America 5G IoT Market, by End-User, 2024 – 2033
- 8.6.1 North America 5G IoT Market, by End-User, 2024 – 2033 (USD Billion)
- 8.7. Europe
- 8.7.1 Europe 5G IoT Market, 2024 – 2033 (USD Billion)
- 8.7.1.1 Europe 5G IoT Market, by Country, 2024 – 2033 (USD Billion)
- 8.7.1 Europe 5G IoT Market, 2024 – 2033 (USD Billion)
- 8.8 Europe 5G IoT Market, by Type, 2024 – 2033
- 8.8.1 Europe 5G IoT Market, by Type, 2024 – 2033 (USD Billion)
- 8.9 Europe 5G IoT Market, by Application, 2024 – 2033
- 8.9.1 Europe 5G IoT Market, by Application, 2024 – 2033 (USD Billion)
- 8.10 Europe 5G IoT Market, by End-User, 2024 – 2033
- 8.10.1 Europe 5G IoT Market, by End-User, 2024 – 2033 (USD Billion)
- 8.11. Asia Pacific
- 8.11.1 Asia Pacific 5G IoT Market, 2024 – 2033 (USD Billion)
- 8.11.1.1 Asia Pacific 5G IoT Market, by Country, 2024 – 2033 (USD Billion)
- 8.11.1 Asia Pacific 5G IoT Market, 2024 – 2033 (USD Billion)
- 8.12 Asia Pacific 5G IoT Market, by Type, 2024 – 2033
- 8.12.1 Asia Pacific 5G IoT Market, by Type, 2024 – 2033 (USD Billion)
- 8.13 Asia Pacific 5G IoT Market, by Application, 2024 – 2033
- 8.13.1 Asia Pacific 5G IoT Market, by Application, 2024 – 2033 (USD Billion)
- 8.14 Asia Pacific 5G IoT Market, by End-User, 2024 – 2033
- 8.14.1 Asia Pacific 5G IoT Market, by End-User, 2024 – 2033 (USD Billion)
- 8.15. Latin America
- 8.15.1 Latin America 5G IoT Market, 2024 – 2033 (USD Billion)
- 8.15.1.1 Latin America 5G IoT Market, by Country, 2024 – 2033 (USD Billion)
- 8.15.1 Latin America 5G IoT Market, 2024 – 2033 (USD Billion)
- 8.16 Latin America 5G IoT Market, by Type, 2024 – 2033
- 8.16.1 Latin America 5G IoT Market, by Type, 2024 – 2033 (USD Billion)
- 8.17 Latin America 5G IoT Market, by Application, 2024 – 2033
- 8.17.1 Latin America 5G IoT Market, by Application, 2024 – 2033 (USD Billion)
- 8.18 Latin America 5G IoT Market, by End-User, 2024 – 2033
- 8.18.1 Latin America 5G IoT Market, by End-User, 2024 – 2033 (USD Billion)
- 8.19. The Middle East and Africa
- 8.19.1 The Middle-East and Africa 5G IoT Market, 2024 – 2033 (USD Billion)
- 8.19.1.1 The Middle-East and Africa 5G IoT Market, by Country, 2024 – 2033 (USD Billion)
- 8.19.1 The Middle-East and Africa 5G IoT Market, 2024 – 2033 (USD Billion)
- 8.20 The Middle-East and Africa 5G IoT Market, by Type, 2024 – 2033
- 8.20.1 The Middle-East and Africa 5G IoT Market, by Type, 2024 – 2033 (USD Billion)
- 8.21 The Middle-East and Africa 5G IoT Market, by Application, 2024 – 2033
- 8.21.1 The Middle-East and Africa 5G IoT Market, by Application, 2024 – 2033 (USD Billion)
- 8.22 The Middle-East and Africa 5G IoT Market, by End-User, 2024 – 2033
- 8.22.1 The Middle-East and Africa 5G IoT Market, by End-User, 2024 – 2033 (USD Billion)
- Chapter 9. Company Profiles
- 9.1 Qualcomm Technologies Inc.
- 9.1.1 Overview
- 9.1.2 Financials
- 9.1.3 Product Portfolio
- 9.1.4 Business Strategy
- 9.1.5 Recent Developments
- 9.2 Huawei Technologies Co. Ltd.
- 9.2.1 Overview
- 9.2.2 Financials
- 9.2.3 Product Portfolio
- 9.2.4 Business Strategy
- 9.2.5 Recent Developments
- 9.3 Ericsson
- 9.3.1 Overview
- 9.3.2 Financials
- 9.3.3 Product Portfolio
- 9.3.4 Business Strategy
- 9.3.5 Recent Developments
- 9.4 Nokia Corporation
- 9.4.1 Overview
- 9.4.2 Financials
- 9.4.3 Product Portfolio
- 9.4.4 Business Strategy
- 9.4.5 Recent Developments
- 9.5 Intel Corporation
- 9.5.1 Overview
- 9.5.2 Financials
- 9.5.3 Product Portfolio
- 9.5.4 Business Strategy
- 9.5.5 Recent Developments
- 9.6 Verizon Communications Inc.
- 9.6.1 Overview
- 9.6.2 Financials
- 9.6.3 Product Portfolio
- 9.6.4 Business Strategy
- 9.6.5 Recent Developments
- 9.7 AT&T Inc.
- 9.7.1 Overview
- 9.7.2 Financials
- 9.7.3 Product Portfolio
- 9.7.4 Business Strategy
- 9.7.5 Recent Developments
- 9.8 Vodafone Group Plc
- 9.8.1 Overview
- 9.8.2 Financials
- 9.8.3 Product Portfolio
- 9.8.4 Business Strategy
- 9.8.5 Recent Developments
- 9.9 Cisco Systems Inc.
- 9.9.1 Overview
- 9.9.2 Financials
- 9.9.3 Product Portfolio
- 9.9.4 Business Strategy
- 9.9.5 Recent Developments
- 9.10 Deutsche Telekom AG
- 9.10.1 Overview
- 9.10.2 Financials
- 9.10.3 Product Portfolio
- 9.10.4 Business Strategy
- 9.10.5 Recent Developments
- 9.11 Samsung Electronics Co. Ltd.
- 9.11.1 Overview
- 9.11.2 Financials
- 9.11.3 Product Portfolio
- 9.11.4 Business Strategy
- 9.11.5 Recent Developments
- 9.12 China Mobile Limited
- 9.12.1 Overview
- 9.12.2 Financials
- 9.12.3 Product Portfolio
- 9.12.4 Business Strategy
- 9.12.5 Recent Developments
- 9.13 Telefonaktiebolaget LM Ericsson (Ericsson)
- 9.13.1 Overview
- 9.13.2 Financials
- 9.13.3 Product Portfolio
- 9.13.4 Business Strategy
- 9.13.5 Recent Developments
- 9.14 Sierra Wireless
- 9.14.1 Overview
- 9.14.2 Financials
- 9.14.3 Product Portfolio
- 9.14.4 Business Strategy
- 9.14.5 Recent Developments
- 9.15 Telit Communications PLC
- 9.15.1 Overview
- 9.15.2 Financials
- 9.15.3 Product Portfolio
- 9.15.4 Business Strategy
- 9.15.5 Recent Developments
- 9.16 Others.
- 9.16.1 Overview
- 9.16.2 Financials
- 9.16.3 Product Portfolio
- 9.16.4 Business Strategy
- 9.16.5 Recent Developments
- 9.1 Qualcomm Technologies Inc.
List Of Figures
Figures No 1 to 27
List Of Tables
Tables No 1 to 77
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Player
- Qualcomm Technologies Inc.
- Huawei Technologies Co. Ltd.
- Ericsson
- Nokia Corporation
- Intel Corporation
- Verizon Communications Inc.
- AT&T Inc.
- Vodafone Group Plc
- Cisco Systems Inc.
- Deutsche Telekom AG
- Samsung Electronics Co. Ltd.
- China Mobile Limited
- Telefonaktiebolaget LM Ericsson (Ericsson)
- Sierra Wireless
- Telit Communications PLC
- Others
FAQs
The key factors driving the Market are Advancements in 5G Technology, Smart Cities Implementation, Industrial IoT Adoption, Connected Vehicles, Healthcare Applications, Agricultural IoT Solutions And IoT Platforms and Services.
The “Devices” category dominated the market in 2022.
The key players in the market are Qualcomm Technologies Inc., Huawei Technologies Co. Ltd., Ericsson, Nokia Corporation, Intel Corporation, Verizon Communications Inc., AT&T Inc., Vodafone Group Plc, Cisco Systems Inc., Deutsche Telekom AG, Samsung Electronics Co. Ltd., China Mobile Limited, Telefonaktiebolaget LM Ericsson (Ericsson), Sierra Wireless, Telit Communications PLC, Others.
“North America” had the largest share in the 5G IoT Market.
The global market is projected to grow at a CAGR of 36.5% during the forecast period, 2023-2032.
The 5G IoT Market size was valued at USD 13.9 Billion in 2023.