New York, NY, Aug. 28, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “5G IoT Market By Radio Technology (5G New Radio Standalone Architecture and 5G New Radio Non-Standalone Architecture), By Range (Short-Range and Wide-Range), and By Vertical (Energy & Utilities, Manufacturing, Healthcare, Government, Mining, Transportation & Logistics, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020–2025”. According to the report, the global 5G IoT market is expected to grow from USD 305 million in 2020 to USD 6,139 million by 2025, growing at a CAGR approximately 54.3% between 2021 and 2025.
The fifth-generation network or 5G is still under development; it is targeting to reach new limits of high speed, low latency, and low power for IoT. The combination of 5G and IoT accelerates uploads and downloads, with low latency and network support.
Browse through 54 Tables & 27 Figures spread over 172 Pages and in-depth TOC on “Global 5G IoT Market Size & Share 2020: By Type, Technology, Industry Size, Share, Trends, Analysis, and Forecast to 2025”.
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The 5G IoT market globally is expected to gain recognition in the long run, owing to its various uses and benefits. IoT has been drastically changing businesses and consumer landscape over the last few decades. The number of IoT devices is anticipated to reach 10 billion by 2020 and 25 billion by 2025, starting from industrial devices and wearable devices to connected cars. The 5G IoT market development will also be fuelled by the growing demand for low latency. The networks of 5G IoT can also provide backing operations that require real-time access to data changes almost instantly. Furthermore, the rising use of sensors by the automation industry is likely to boost the requirement for real-time tracking, analyzing, and processing of collected data via sensors, thereby supporting the 5G IoT market growth over the forecast time period. However, high capital expenditure for infrastructural establishment of 5G IoT may curtail the 5G IoT market growth in the future.
On the basis of technology, the market includes 5G new radio non-standalone architecture and 5G new radio standalone architecture. 5G new radio standalone architecture is anticipated to hold a notable market share, owing to an extensive range of core features and functionalities provided by these architectures. The 5G new radio standalone comes with upgraded built-in capabilities, such as ultra-low latency, user and control panel separation, network slicing, virtualization, and multi-Gbps support. By range, the 5G IoT market is divided into short-range and wide-range IoT devices. Short-range IoT devices are anticipated to hold a substantial market share in the years ahead, owing to the developing new 5G IoT applications.
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North America will witness significant growth in the global 5G IoT market in the future, owing to the extensive regional growth of wireless connectivity and connected devices. The rising use of IoT-enabled devices is further boosting the North American 5G IoT market. Developed countries like the U.S. and Canada are headquarters of various technological giants, such as Sprint, Verizon, Rogers, and Telus, which is also driving the development of the region’s 5G IoT market. Moreover, the implementation of 5G technology will enable machine-to-machine communication via IoT, thereby allowing devices to communicate with each other without human intervention.
Europe will witness notable growth in the 5G IoT market globally over the forecast timeline, owing to the rising initiatives by the European Union to fuel the regional deployment and penetration of 5G-enabled devices. Ericsson, the UK-based company, has warned that if European regulators and governments do not act to fast-track the release of new spectrum and licenses, they will fall behind the Asia Pacific and North America in LTE and 5G services.
Browse the full “5G IoT Market By Radio Technology (5G New Radio Standalone Architecture and 5G New Radio Non-Standalone Architecture), By Range (Short-Range and Wide-Range), and By Vertical (Energy & Utilities, Manufacturing, Healthcare, Government, Mining, Transportation & Logistics, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020–2025” Report at https://www.zionmarketresearch.com/report/5g-iot-market
The Asia Pacific is projected to hold a significant share of the 5G IoT market over the forecast timeframe, owing to the increasing penetration of smartphones. Moreover, the region’s diversity, population, and initiatives taken for development by growing economies of China and India are also anticipated to drive the 5G IoT market in the region. The rising number of internet users and connected devices are other key drivers accelerating the regional market. Additionally, the region’s growing healthcare sector is also propelling the 5G IoT market growth, owing to the requirement of real-time networks along with the live transmission of HD surgery videos that can be monitored remotely.
Latin America will hold a substantial share of the 5G IoT market in the future. The presence of developing economies of Argentina and Brazil will majorly contribute to the region’s 5G IoT market in the years ahead. The telecommunication development conference held in Buenos Aires, Argentina covered various strategic topics, such as innovation, infrastructure deployment, digitalization, industry 4.0, and security. This is expected to encourage both the private and public sector leaders to make policy changes to accelerate digital transformation in Latin America.
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Some prominent players of the 5G IoT market are Nokia, Ericsson, AT&T, Huawei, Sprint, Verizon, BT Group, Telefónica, Telstra, Vodafone, Telus, Bell Canada, Etisalat, Rogers, and Singtel.
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This report segments the global 5G IoT market into:
Global 5G IoT Market: Radio Technology Analysis
- 5G New Radio Standalone Architecture
- 5G New Radio Non-Standalone Architecture
Global 5G IoT Market: Range Analysis
- Short-Range IoT Devices
- Wide-Range IoT Devices
Global 5G IoT Market: Vertical Analysis
- Manufacturing
- Energy and Utilities
- Government
- Healthcare
- Transportation and Logistics
- Mining
- Others
Global 5G IoT Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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