5G IoT Market grows as industries adopt low-latency 5G for real-time data, powering smart cities, autonomous vehicles, and industrial IoT.

AUSTIN, TX, UNITED STATES, October 30, 2024 /EINPresswire.com/ -- Market Scope and Overview

The 5G IoT Market is poised for significant growth over the next decade, driven by the adoption of 5G technology to enable high-speed, low-latency communication between devices.

According to a recent report by SNS Insider, the 5G IoT market, valued at USD 12.9 billion in 2023, is projected to soar to USD 199.9 billion by 2032, registering a compound annual growth rate (CAGR) of 35.6% from 2024 to 2032.

Key Growth Drivers in the 5G IoT Market

The increasing demand for connected devices across multiple industries—particularly manufacturing, transportation, and healthcare—is a primary growth driver. These industries rely heavily on IoT solutions for automation, monitoring, and operational efficiencies. With the evolution of 5G technology, IoT devices can now operate at higher speeds, handle larger data volumes, and achieve minimal delays, which is transformative for industries aiming for real-time, data-driven operations.

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Major Key Players Studied in this Report are:

➤ AT&T Intellectual Property
➤ Cisco
➤ Telefnaktiebolaget LM
➤ Ericsson
➤ Huawei Technologies
➤ Intel Technology
➤ Qualcomm Technologies
➤ Samsung Electronics
➤ NEC Corporation
➤ Nokia
➤ ZTE Corporation
➤ Others

Additional Market Growth Factors

The global adoption of smart devices and 5G infrastructure significantly propels the 5G IoT market. Industries integrating IoT devices for data collection and automation increasingly require fast, low-latency connectivity. 5G technology enables seamless IoT applications in areas such as smart factories, automated logistics, healthcare monitoring, and advanced agriculture. The push towards Industry 4.0 and increased automation in manufacturing further drive demand. 5G technology is set to revolutionize industrial processes, supporting applications like predictive maintenance, robotic automation, and real-time supply chain tracking.

Moreover, the expansion of smart cities and connected transportation systems demands scalable IoT solutions capable of supporting real-time communication across millions of sensors and devices. 5G provides the necessary bandwidth and speed, making it a vital infrastructure element for traffic management, public safety, and smart energy systems in urban environments.

Market Segmentation

By Type:

The 5G IoT market is segmented by type, primarily into wide-range IoT devices and short-range IoT devices. As of 2023, the wide-range IoT devices segment held over 45% market share and is expected to grow at a higher rate during the forecast period. Wide-range IoT devices benefit from 5G’s extensive coverage and robust connectivity, making them ideal for industries requiring communication over large areas, such as transportation, agriculture, and utilities. These devices are well-suited for remote locations, supporting applications like smart agriculture, remote asset tracking, and large-scale environmental monitoring.

By End-User:

The manufacturing sector leads the 5G IoT market, projected to hold the largest market share of over 25% by 2032. This sector is rapidly adopting IoT-driven automation to boost productivity and efficiency. The combination of IoT with 5G enables manufacturers to implement predictive maintenance, automated quality control, and real-time monitoring, significantly enhancing operational workflows.

The automotive and transportation sector also demonstrates substantial potential. 5G-enabled IoT solutions support connected vehicle management, fleet tracking, and smart traffic systems, aligning with global efforts to improve urban mobility and public safety. Similarly, the healthcare sector is seeing increased 5G IoT adoption, particularly in remote patient monitoring, telemedicine, and smart hospital management, accelerated by the need for accessible healthcare post-pandemic.

Market Segmentation and Sub-Segmentation Included Are:

By Component
➤ Hardware
➤ Platform
➤ Connectivity
➤ Services

By Organization Size
➤ Large Enterprises
➤ SMEs

By Network Type
➤ 5G Standalone
➤ 5G non-standalone

By Type
➤ Short-range IoT Devices
➤ Wide-range IoT Devices

By End-User
➤ Manufacturing
➤ Healthcare
➤ Energy & Utilities
➤ Transportation & Logistics
➤ Agriculture
➤ Government & Public Safety
➤ Others

Regional Analysis

The Asia-Pacific region led the 5G IoT market in 2023, holding a significant revenue share. Early adopters of 5G technology, such as China, Japan, and South Korea, have fostered growth through extensive investments in digital infrastructure and high smart device penetration. Government initiatives to accelerate smart city projects and digital transformation have created a fertile environment for 5G IoT solutions. The region’s manufacturing and transportation sectors are expanding their use of 5G IoT to meet automation and efficient logistics demands. The thriving e-commerce sector in Asia-Pacific further fuels demand for IoT-based solutions in warehousing, inventory management, and last-mile delivery.

North America is expected to experience the fastest growth rate in the 5G IoT market during the forecast period. With a well-established telecommunications infrastructure and high rate of 5G rollout, IoT adoption is rapid. The U.S. and Canada, home to leading technology firms investing in 5G IoT R&D, further accelerate market innovation. Key sectors in North America, including logistics, agriculture, and energy, are increasingly adopting 5G IoT to improve productivity and cost-efficiency. Additionally, stringent regulatory standards in healthcare and finance drive the adoption of secure 5G IoT solutions that meet compliance requirements for data protection and real-time communication.

Recent Developments

➤ 2023: Ericsson launched a new suite of 5G IoT solutions targeting industrial automation, offering enhanced device connectivity and analytics tools designed to improve operational efficiency in manufacturing and logistics.

➤ 2024: Nokia expanded its 5G IoT capabilities with a new platform for smart city infrastructure, supporting applications in traffic management, public safety, and environmental monitoring. This aligns with Nokia’s commitment to sustainable urban development through digital transformation.

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Table of Contents- Major Key Points

1. Introduction

2. Research Methodology

3. Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities
3.4. Challenges

4. Impact Analysis
4.1. Impact of Ukraine- Russia war
4.2. Impact of Ongoing Recession on Major Economies

5. Value Chain Analysis

6. Porter’s 5 Forces Model

7. PEST Analysis

8. 5G IoT Market Segmentation, by Component
8.1. Solution
8.2. Hardware
8.3. Software & Platform
8.4. Services

9. 5G IoT Market Segmentation, by Network Type
9.1. 5G NR Standalone Architecture
9.2. 5G NR Non-Standalone Architecture

10. 5G IoT Market Segmentation, by End-User
10.1. Manufacturing
10.2. Healthcare
10.3. Energy & Utilities
10.4. Transportation & Logistics
10.5. Agriculture
10.6. Government & Public Safety
10.7. Others

11. Regional Analysis
11.1. Introduction
11.2. North America
11.3. Europe
11.4. Asia-Pacific
11.5. The Middle East & Africa
11.6. Latin America

12. Company Profile

13. Competitive Landscape
13.1. Competitive Benchmarking
13.2. Market Share Analysis
13.3. Recent Developments

14. USE Cases and Best Practices

15. Conclusion

About Us

S&S Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

Our staff is dedicated to giving our clients reliable information, and with expertise working in the majority of industrial sectors, we're proud to be recognized as one of the world's top market research firms. We can quickly design and implement pertinent research programs, including surveys and focus groups, and we have the resources and competence to deal with clients in practically any company sector.

Akash Anand
SNS Insider | Strategy and Stats
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