Pune, India, March 04, 2022 (GLOBE NEWSWIRE) -- The global 5G IoT market size is anticipated to rise significantly in the forecast duration on account of the increasing demand for IoT connected devices worldwide. IoT services have been widely adopted by all residential, commercial, and industrial sectors in the past few years. An upcoming report by Fortune Business Insights titled, “5G IoT Market Size, Share & Industry Analysis, By Technology (5G New Radio Standalone Architecture, 5G New Radio Non-Standalone Architecture), By Type (Short-Range IoT devices, Wide-Range IoT devices), By Industry (Manufacturing, Government, Energy and Utilities, Transportation and Logistics, Aviation, Others (Mining)) and Regional Forecast, 2022-2029,” analyses the market and its prime growth trajectories in detail.
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Governments across several countries are investing heavily on the invention of an antidote to stop the COVID-19 pandemic. Meanwhile, special reports offered by Fortune Business Insights for helping investors study the pros and cons and accordingly prepare for the future.
What are the Highlights of the 5G IoT Market Report?
The5G IoT Market report offers insights into the market and focuses on drivers, restraints, challenges, and upcoming opportunities. It also highlights the key industry developments, current trends, and other interesting insights into the market. The report also provides details on the table of segmentation and the names of the leading segments with attributed factors. To purchase the report, log on to the company website.
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Drivers & Restraints-
Increasing Adoption of Industry 4.0 to Augment Growth
Rising technological advancement and use of the internet of things across various sectors such as residential, commercial, and industrial sectors stands as the major factors driving the global 5G IoT market growth. Additionally, the rise in the number of connected IoT devices and increasing data traffic will boost the growth of the market. Besides this, the increasing demand for low latency connectivity is expected to bode well for the market in the forecast period.
On the negative side, the heavy expenditure required for building a reliable 5G network infrastructure may cause major hindrance to the market. Moreover, government regulations, and other issues related to network connectivity may pose major challenges to the market in the coming years.
Nevertheless, the increasing number of cloud services and rising adoption of Industry 4.0 is likely to create lucrative growth opportunities for the market in the forecast period.
Segmentation-
Detailed Classification of the 5G IoT Market include:
The market for 5G IoT is classified on the basis of technology, type, industry, and region. Based on technology, the market is categorized into 5G New Radio Standalone Architecture, and 5G New Radio Non-standalone Architecture. With respect to type, the market is bifurcated into wide-range IoT devices, and short-range IoT devices. Based on industry, the market is categorized into aviation, transportation and logistics, energy and utilities, government, manufacturing, and others (mining).
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Regional Analysis-
North America Covers Major Share Owing to Rapid Adoption of 5G network
Geographically, North America accounted for the largest 5G in IoT market share. This region is expected to possess 24% of 5G connections by the end of 2022, which will eventually increase up to 46% by the end of 2025, thereby ensuring the region’s dominance over the market.
On the other side, Asia Pacific is expected to showcase rapid growth in the coming years on account of major investment by developing nations such as China and Japan on 5G infrastructure and mobile operators and deployments. The rising demand for high-speed internet and the increasing adoption of Industry 4.0 will also help the regional market generate significant revenue in the coming years.
Competitive Landscape-
Advancements in IoT and Innovation in Cellular IoT – Key Focus of Players
Several companies in the market are investing heavily in on IoT technologies and advancement to gain competitive edge in the market competition. The other players are engaging in development of 5G infrastructure, and cellular IoT for deployment in transportation and utility industries to earn lion’s share in the market.
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Industry Developments:
February 2020 – Advancements in IoT and innovations in cellular technology was made by Cisco Systems Inc. with readiness and machine learning. This includes new wireless technologies such as Wi-Fi 6 and 5G ultimately promoting the adoption of latest utilities and advanced industrial IoT cases.
Key Questions Answered in the Report
- What is the expected global 5G IoT Market size in terms of value during the period 2022-2029?
- What is the expected future scenario and revenue to be generated by different types of solutions including software and platform, hardware, and support services?
- What is the expected future scenario and revenue to be generated by the technology segment, including guidance technology, sensing technology, variable rate application technology, and data analytics and intelligence?
- Which region is the largest market for the global 5G IoT Market?
- What is the expected future scenario and revenue to be generated by different regions and countries in the global 5G IoT Market such as North America, South America, Europe, the U.K., China, Asia-Pacific and Japan, and Middle East and Africa?
- What is the competitive strength of the key players in the global 5G IoT Market based on the analysis of their recent developments, product offerings, and regional presence?
- Which are the different consortiums and associations present in the global 5G IoT Market, and what are their roles, focus areas, and key functions in this market?
- Where do the key 5G IoT Market companies lie in their competitive benchmarking, compared on basis of market coverage and market potential?
- What does the technology ecosystem of 5G IoT Market solutions constitute?
Companies Profiled in the 5G IoT Market Report:
- Nokia
- BT
- Bell Canada
- Telefonaktiebolaget LM Ericsson
- Juniper Networks, Inc.
- Qualcomm Technologies Inc.
- AT&T Intellectual Property
- Huawei Technologies Co., Ltd
- Others
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Have a Look at Related Research Insights:
IoT Connected Machines Market Size, Share & Industry Analysis, By Component (Hardware (IoT Machine Kits,Gateways), Software, Services (Integration Services, Consulting Services, and Support Services)), By Industry Vertical (Automotive, Consumer Electronics, Heavy Manufacturing, Healthcare, Oil & Gas, Others) and Regional Forecast, 2022-2029
IoT in Aerospace & Defence Market Size, Share and Global Trend By Components (Software Platforms & Service), By End User (Space Systems, Ground Vehicles, and others) and Geography Forecast till 2022-2029
IoT in Elevator Market Size, Share and Global Trend By Components (Hardware, Software, Services), By Application (Predictive Maintenance & Remote Monitoring), By End User (Residential, Commercial, Industrial ) and Geography Forecast till 2022-2029
IoT in Smart Cities Market Size, Share & COVID-19 Impact Analysis, By Component (Solution and Services), By Application (Smart Building, Smart Healthcare, Smart Energy, Smart Transportation, Public Safety, Smart Infrastructure, and Others), and Regional Forecast, 2021-2028
IIoT (Industrial Internet of Things) Technology Market Size, Share and Global By Deployment Type (Hardware & Software), By Industry Vertical (Manufacturing, Oil &Gas, Metal & Mining), By Applications (Distribution Management System, Visualization Software, Transit Management System, and others) and Geography Forecast till 2022-2029
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