July 29th, 2021
Global 5G Internet of Things Market
The GMI Research forecasts that the 5G Internet of Things Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the strong focus of industries on implementing industry 4.0.
Introduction of the 5G Internet of Things Market
5G in the internet of things allows better management of things and futuristic devices, which has proliferated the advancement in the machinery to support every vertical across the dynamic world. It has the potential to amplify modernizations and connect the world, humans, with machines virtually.
Key Players of the Global 5G Internet of Things Market:
· China Mobile
· Orange S.A.
· SK Telecom
· Vodafone Group Plc
· Deutsche Telekom
· Verizon Communications
5G Internet of Things Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
5G Internet of Things Market is experiencing robust growth due to the increasing investment in 5G technologies, spectrum and transportation, and global standards. The execution of 5G and the IoT has been enhanced by several different aspects, which include amplified demand from consumers and businesses and the availability of low-cost devices. In addition, the improvement in artificial intelligence, cloud computing, and edge computing to handle the data volumes generated by the technology, as 5G strengthens the web capability. The assistance of these technologies to connect with millions of consumer devices, appliances, and machines in China is stimulating market growth. Furthermore, with the introduction of 5G NR eMBB services in both millimeter Wave and sub 6 Gigahertz (GHz) spectrum, LTE IoT will persistently operate a seamlessly new 5G network. For example, LTE IoT is agnostic to core networks — either LTE core (EPC) or 5G core (NextGen or 5GC), which will stimulate LTE-IoT evolution and deployments will further be promoted by 5G NR in spectrum bands, enabling 5G NR IoT to leverage LTE IoT investments fully. More information is provided later in this paper regarding the use of spectrum assets for IoT applications. However, inadequate standardization in IoT is hindering market growth.
Type Segment Drivers
Based on the type, hardware is expected to witness a higher CAGR in the near future as it is integrated with an extensive range of devices such as devices for bridges, routing, sensors, etc. Also, they help to manage major work and functions such as system activation, security, action specifications, communication, and detection of support-specific goals and actions.
End-Use Segment Drivers
Based on the end-use, healthcare will hold a major share because of the endorsement of technology to treat and medicate patients. Next-generation connectivity has also bolstered market growth.
Based on the regional coverage, Asia-Pacific is contemplated to grow at a higher CAGR in the near future. This is because of the accelerating penetration of the internet in the countries like China, India, and Japan. In addition, rapid digitalization has allured several IoT companies, from big fores to small start-ups. The government of India has enforced an IoT policy that aims to create an IoT ecosystem in the country and incentivize the players by creating a $15 billion industry by the end of 2021.
5G Internet of Things Market Segmentation:
Segmentation by Type
Segmentation by End-Use
· Automotive & Transportation
· Consumer Electronics
· Oil & Gas
Segmentation by Region:
· North America
o United States of America
· Asia Pacific
o Rest of APAC
o United Kingdom
o Rest of Europe
o South Africa
o Saudi Arabia
o Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
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