5G IoT Market Size - Global Industry, Share, Analysis, Trends and Forecast 2023 - 2032

The 5G IoT Market Size accounted for USD 3.7 Billion in 2022 and is projected to achieve a market size of USD 643.4 Billion by 2032 growing at a CAGR of 67.8% from 2023 to 2032.

5G IoT Market Highlights

• Global 5G IoT Market revenue is expected to increase by USD 643.4 Billion by 2032, with a67.8% CAGR from 2023 to 2032
• Asia-Pacific region led with more than 36% of 5G IoT Market share in 2022
• North America 5G IoT Market growth will record a CAGR of around 68% from 2023 to 2032
• By network type, the 5G non-standalone segment is the largest segment in the market, accounting for over 59% of the market share in 2022
• By end user, the manufacturing segment has recorded more than 20% of the revenue share in 2022
• Growing demand for connected devices and the use of 5G IoT in Industry 4.0, drives the 5G IoT Market value

5G IoT, or 5G Internet of Things, represents the convergence of fifth-generation mobile networks with the Internet of Things (IoT) technology. It combines the high-speed, low-latency, and massive connectivity capabilities of 5G networks with the vast ecosystem of IoT devices, enabling seamless communication between devices, sensors, and systems. With 5G IoT, devices can transmit and receive data in real-time, making it ideal for applications that require instant response, such as autonomous vehicles, smart cities, industrial automation, and healthcare systems. The low latency of 5G networks ensures near-instantaneous communication, enhancing the efficiency and reliability of IoT applications.

In recent years, the market for 5G IoT has experienced significant growth, driven by the increasing adoption of IoT devices across various industries. The demand for high-speed, low-latency connectivity, coupled with advancements in IoT technology, has fueled this growth. Industries such as manufacturing, healthcare, transportation, and agriculture are leveraging 5G IoT to optimize their operations, enhance productivity, and improve user experiences. Additionally, the ongoing development of 5G infrastructure worldwide, coupled with supportive government initiatives and investments from telecommunications companies, has further accelerated the market expansion of 5G IoT.

Global 5G IoT Market Trends

Market Drivers

• High-speed and low-latency connectivity
• Growing adoption of IoT devices across industries
• Advancements in IoT technology
• Supportive government initiatives and investments
• Expansion of 5G infrastructure worldwide

Market Restraints

• Security and privacy concerns
• High initial deployment costs

Market Opportunities

• Emergence of edge computing solutions
• Integration of AI and machine learning in 5G IoT

5G IoT Market Report Coverage

Unlike its predecessors, 5G offers significantly higher data speeds, lower latency, and the ability to connect a massive number of devices simultaneously. This high-speed, low-latency connectivity enables seamless communication between IoT devices, sensors, and systems, making it a transformative technology for various industries. With 5G IoT, devices can transmit and receive data in real-time, allowing for instant responses and enabling applications that were previously limited by network constraints. The applications of 5G IoT span across a wide range of sectors, revolutionizing industries and enhancing various aspects of daily life. In healthcare, 5G IoT facilitates remote patient monitoring, enabling healthcare professionals to monitor vital signs and deliver personalized care in real-time.

The 5G IoT market has witnessed remarkable growth in recent years, driven by the intersection of fifth-generation wireless technology and the burgeoning Internet of Things (IoT) ecosystem. With the deployment of 5G networks, IoT devices are experiencing unprecedented connectivity, offering businesses and consumers transformative opportunities. The market growth is attributed to the high-speed, low-latency, and massive device connectivity capabilities of 5G networks. Industries are leveraging this technology to enhance efficiency, reduce operational costs, and innovate services. Applications such as smart cities, autonomous vehicles, industrial automation, and healthcare are benefitting immensely from 5G IoT, leading to increased adoption across various sectors. The market growth is further propelled by the continuous evolution of IoT technologies and the demand for real-time data processing. Furthermore, the increasing expansion of the 5G chipset market and the adoption of the 5G infrastructure market will fuel the 5G IoT market in the coming years.With 5G networks providing faster data transmission and low latency, industries can deploy IoT solutions that require instant response and reliable communication. Moreover, ongoing investments in 5G infrastructure development, coupled with supportive government initiatives and industry collaborations, are fueling the market expansion.

5G IoT Market Segmentation

The global 5G IoT Market segmentation is based on components, enterprise size, network type, end user, and geography.

5G IoT Market By Components

• Solution
  • Connectivity
  • Hardware
  • Platform
• Services

According to the 5G IoT industry analysis, the solution segment accounted for the largest market share in 2022. This growth is due to the increasing demand for tailored applications and services that leverage the power of 5G connectivity and IoT devices. One of the key drivers of this growth is the rise in IoT deployments across various industries. Businesses are seeking customized solutions to address specific challenges and enhance their operations. These solutions often include a combination of hardware, software, and connectivity services optimized for 5G networks. Industries such as manufacturing, healthcare, logistics, and agriculture are adopting specialized IoT solutions to improve efficiency, monitor assets in real-time, and optimize resource utilization.

5G IoT Market By Enterprise Size

• Small & Medium Enterprises
• Large Enterprises

In terms of enterprise sizes, the small & medium enterprises segment is expected to witness significant growth in the coming years. With the advent of 5G technology, SMEs are gaining access to high-speed, low-latency connectivity that was once primarily accessible to large enterprises. This newfound connectivity is empowering SMEs to implement IoT solutions, enabling them to streamline operations, enhance productivity, and deliver improved services to their customers. One of the key drivers of growth in this segment is the affordability and scalability of 5G IoT solutions. Unlike previous generations of technology, 5G networks offer cost-effective options for SMEs to deploy IoT devices and applications. The modular nature of these solutions allows SMEs to start with a small-scale implementation and expand as their needs grow.

5G IoT Market By Network Type

• 5G Non-standalone (NSA)
• 5G Standalone (SA)

According to the 5G IoT market forecast, the 5G standalone segment is expected to witness significant growth in the coming years. Unlike non-standalone 5G networks that rely on existing 4G infrastructure, standalone 5G networks are built from the ground up, offering enhanced capabilities and efficiencies for IoT applications. One of the primary drivers of growth in this segment is the native support for massive machine-type communications (mMTC) and ultra-reliable low-latency communications (URLLC) provided by standalone 5G networks. This means that these networks can handle a vast number of IoT devices simultaneously and ensure near-instantaneous communication, making them ideal for applications such as smart cities, industrial automation, and healthcare.

5G IoT Market By End User

• Manufacturing
• Energy and Utilities
• Healthcare
• Supply Chain and Logistics
• Automotive and Transportation
• Agriculture
• Government and Public Safety
• Others

Based on the end user, the manufacturing segment is expected to continue its growth trajectory in the coming years. 5G IoT technologies offer manufacturers high-speed, low-latency connectivity that is crucial for real-time monitoring, predictive maintenance, and process optimization. With 5G networks, manufacturers can connect a multitude of IoT devices, such as sensors, robots, and machinery, facilitating seamless communication and data exchange across the production line. This connectivity allows manufacturers to gather large volumes of data, which can be analyzed in real-time to identify inefficiencies, reduce downtime, and enhance overall productivity. Furthermore, 5G IoT in manufacturing is empowering the industry with innovations such as remote operation and control.

5G IoT Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)