5G IoT Market Size Reach USD 285.28 Billion by 2030, Top Factors Leading The Industry Worldwide

Rise in high-speed network supply enabling IoT devices to communicate and share data faster, which fuel the 5G IoT market growth.

PORTLAND, PORTLAND, OR, UNITED STATE, April 16, 2024 /EINPresswire.com/ -- According to the report published by Allied Market Research, The 5G IoT Market Size Reach USD 285.28 Billion by 2030, Top Factors Leading The Industry Worldwide. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

The global 5G Internet of Things market size was valued at USD 1.45 billion in 2020, and is projected to reach USD 285.28 billion by 2030, registering a CAGR of 69.8% from 2021 to 2030.

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Rise in mobile data traffic, advancements in wireless technology, and development of massive 5G IoT ecosystem and critical communication services drive the growth of the global 5G IoT market. The market across Asia-Pacific held the largest share in 2020, accounting for more than one-third of the market. The Covid-19 pandemic positively affected the market due to rise in demand for IoT solutions among SMEs and major enterprises to improve their revenue opportunities.

The 5G Internet of Things market is segmented on the basis of component, enterprise size, network type, and industry vertical. On the basis of component, the market is fragmented into solution (hardware and software & platform) and services. Depending on enterprise size, the market is segregated into large enterprises and small & medium sized enterprises. Based on network type, the market is fragmented into 5G NR standalone architecture and 5G NR non-standalone architecture. By industry vertical, it is categorized into manufacturing, healthcare, energy & utilities, transportation & logistics, agriculture, government & public safety, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Covid-19 Scenario:

● The Covid-19 pandemic positively affected the market due to the rise in demand for IoT solutions among SMEs and major enterprises to improve their revenue opportunities.

● However, the pandemic created some challenges including lack skilled workforce to roll out 5G network technology across developing countries.

● On the contrary, a rise in demand for 5G IoT-based smart infrastructure would open new opportunities post-pandemic.

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Based on component, the solution segment held the largest share in 2020, contributing to nearly three-fourths of the market. However, the services segment is estimated to register the highest CAGR of 73.4% from 2021 to 2030.

On the basis of network type, the 5G non-standalone segment dominated the market in 2020, accounting for around three-fourths of the market. However, the 5G standalone segment is projected to register the highest CAGR of 75.8% during the forecast period.

The global 5G IoT market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the largest share in 2020, accounting for more than one-third of the market. Moreover, the same region is anticipated to register the highest CAGR of 74.4% during the forecast period.

The global 5G internet of things market includes an in-depth analysis of the prime market players such as AT & T Intellectual Property, Cisco, Telefonaktiebolaget LM Ericsson, Qualcomm Incorporated, Huawei Technologies Co. Ltd., Intel Technology, Samsung Electronics Co. Ltd., Nokia, NEC Corporation and ZTE Corporation.

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Lastly this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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