5G IoT Market Projected to Reach $6.3 billion by 2025

[100 Pages Report] 5G IoT market size, analysis, trends, & forecasts. The global market for 5G IoT categorized by connection, radio technology, range, vertical, and region.

(EMAILWIRE.COM, April 26, 2019 ) The 5G IoT market size is expected to grow from USD 0.7 billion in 2020 to USD 6.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 55.4% during the forecast period. The adoption rate of 5G connectivity in IoT devices is expected to grow owing to the increase in demand for connected IoT devices.

IoT has been radically changing consumer and business landscape over the past few decades. The number of connected devices is expected to reach around 22 to 25 billion by 2025 ranging from consumer wearable devices and industrial devices to connected cars. The diverse set of connected devices from a range of industry verticals needs a unique communication infrastructure. In addition, these connected devices require low power, faster connectivity, and higher security. Today, several connectivity technologies are available in the market, such as non-cellular, non-carrier, cellular IoT, and satellite network. Bluetooth, Zigbee, Long Range (LoRa), Sigfox, LLow-power Wide Area Network (LPWAN), Radio-frequency Identification (RFID), Bluetooth Low Energy (BLE), Wireless Local Area Network (WLAN), and Long-Term Evolution (LTE) (Category M1 (Cat-M1) and Narrowband-IoT (NB-IoT)) are some of the key options available in the market for IoT connectivity. Enterprises are leveraging these communication techniques as per the demand and requirement of the IoT network.

In the 5G IoT market, the key and emerging market players include
• Ericsson (Sweden)
• Nokia (Finland)
• Huawei (China)
• AT&T (US)
• Verizon (US)
• Sprint (US)
• Telefónica (Spain)
• BT Group (UK)
• Vodafone (UK)
• Telstra (Australia)
• Etisalat (UAE) and many more.

North America is the largest contributor to the 5G IoT market. The top countries contributing to the 5G IoT market in this region include the US and Canada. The leading telecom operators, such as AT&T, Verizon, Sprint, Rogers, Bell, and Telus, have announced the deployment of 5G networks. Verizon has planned to roll out 5G services across 30 cities in the US by the end of 2020. T-Mobile has also announced to launch 5G services in 30 cities. AT&T has already introduced 5G services in 12 cities. These service providers have collaborated with network enablers such as Ericsson, Nokia, and Samsung, to launch 5G services across the US.

5G NR standalone architecture is a completely new radio network. It mainly comprises 5G RAN and 5G core networks. 5G NR standalone solutions are expected to be more effective than 5G NR non-standalone solutions. The 5G NR standalone architecture is estimated to show the highest CAGR and expected to witness strong growth characteristics in the coming years.

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