Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by Infinium Global Research on the 5G IoT market provides an in-depth analysis of segments and sub-segments in the global as well as regional 5G IoT market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional 5G IoT market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global 5G IoT market. According to the report, the global 5G IoT market is projected to grow at a CAGR of 73% from USD 1.5 billion in 2020 to USD 40 billion in 2026 during the forecast period of 2020 – 2026.
5G network delivers smooth communication and networking functions and works under wireless high-frequency technology. Furthermore, the technology offers advanced, improved flexibility of wireless services, higher network speed, and condensed latency. IoT devices, for example, wireless sensors, computer devices, software, actuators, and others largely rely on prompt communication and data transfer services, which are provided through this technology. In addition, it provides improved flexibility of wireless services and is largely dependent on instant communication & data transfer provided through 5G technology. Moreover, it plays an essential role in the evolution of communication as well as in the businesses and society in the market.
Augmented demand for smart manufacturing & adoption of this technology will not only provide reliable networks but also offer fantastic secure connection for IoT by assimilating security into the network architecture, which boosts the market growth. Furthermore, factors such as the increase in demand for processing of collected data through sensors, analyzing, and real-time tracking of business operations & other activities across numerous industrial sectors are some of the other aspects boosting the 5G IoT market growth. Moreover, providing backing operations that require real-time access to data changes instantly and augmented demand for ultra-low latency from various sectors are some of the factors pouring the market growth. On the other hand, lack of research and innovation and high upfront costs for infrastructural establishment are restraining the market growth. In contrast, the consumer landscape and changing business environment are anticipated to provide lucrative opportunities to the global market in the near future.
Furthermore, the 5G IoT market is presently in the primer phase, hence fundamental service providers across the world are hostilely investing in deploying modern network infrastructure to tap the extreme subscriber base across the world. Conversely, the spread of the COVID-19 outbreak has positioned the deployment of numerous 5G core infrastructure and base stations on hold worldwide. Furthermore, the spectrum auction for 5G services has been postponed by numerous federal governments across key countries, such as Spain, the United States, Italy, the United Kingdom, and France. Consequently, it is anticipated that the market for 5G IoT services would witness sluggish growth in the upcoming years.
Among the geographies, the North America region is expected to hold the largest share in the global 5G IoT markets owing to a rise in strategic trails to launch 5G technologies and equipment in this region. Furthermore, operators across the North America region are anticipated to deploy numerous solutions on their 5G mobile infrastructures which have shown a positive approach toward commercializing 5G networks. However, the Asia Pacific region is projected to grow at the highest rate in the global 5G IoT markets over the projection period. This is accredited to a continuous increase in penetration of smartphones and increase in demand for higher bandwidth applications induces wireless network service providers to deploy 5G technology in their network.
The report on the global 5G IoT market covers segments such as radio technology, range, and vertical. On the basis of radio technology, the sub-markets include new radio standalone architecture and new radio non-standalone architecture. On the basis of range, the sub-markets include short-range IoT devices and wide-range IoT devices. On the basis of vertical, the sub-markets include manufacturing, energy and utilities, government, healthcare, transportation and logistics, mining, and others.
The report provides profiles of the companies in the market such as Ericsson, Nokia, Huawei, AT&T, Verizon, Sprint, Telefónica, BT Group, Vodafone, and Telstra.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, the IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the 5G IoT market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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