Global 5G IoT Market size and share is currently valued at USD 20.00 billion in 2024 and is anticipated to generate an estimated revenue of USD 415.48 billion by 2034, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 35.5% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2025 - 2034
Market Overview
The convergence of 5G and IoT technologies is revolutionizing industries by enabling ultra-fast, low-latency communication between connected devices. This synergy enhances real-time data processing, operational efficiency, and supports advanced applications such as autonomous vehicles, remote patient monitoring, and smart grid management. The deployment of 5G networks facilitates massive machine-type communication, allowing billions of devices to connect seamlessly, thereby fostering the growth of smart environments and industrial automation.
Market Segmentation
By Component:
Hardware: IoT devices (sensors, actuators), gateways, and network equipment.
Software and Platform: Analytics software, application development platforms, and operating systems.
Services: Consulting, integration, managed services, and support maintenance.
By Network Type:
5G Standalone (SA): Independent 5G networks offering enhanced capabilities.
5G Non-Standalone (NSA): 5G networks built on existing 4G infrastructure.
By Organization Size:
Large Enterprises
Small and Medium Enterprises (SMEs)
By End-User:
Manufacturing: Smart factories, predictive maintenance, and automation.
Healthcare: Remote patient monitoring, connected medical devices, and telemedicine.
Automotive and Transportation: Connected vehicles, fleet management, and autonomous driving.
Energy and Utilities: Smart grids, pipeline management, and energy distribution.
Agriculture: Precision farming, livestock monitoring, and smart irrigation.
Government and Public Safety: Smart city initiatives, surveillance, and emergency response systems .
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Country-Wise Market Trends
United States:
The U.S. is experiencing rapid adoption of 5G IoT technologies, particularly in industrial applications, smart warehousing, and field services. The integration of 5G with IoT is enhancing operational efficiency and enabling real-time monitoring across various sectors. Major telecommunications companies like Verizon and ATT are at the forefront of deploying 5G infrastructure to support these advancements .
Germany:
Germany is leveraging 5G IoT to drive industrial automation and smart manufacturing. Companies such as Siemens and Bosch are implementing 5G-integrated IoT solutions to enhance production efficiency and enable real-time data analytics. The country's focus on Industry 4.0 is further propelling the adoption of 5G IoT technologies .
Japan:
Japan's 5G IoT market is growing steadily, with significant investments in smart city projects and advanced manufacturing. The government's initiatives to promote digital transformation and the integration of 5G in various sectors are contributing to the market's expansion. Companies are focusing on developing IoT applications that leverage 5G's capabilities for enhanced connectivity and efficiency .
India:
India is emerging as a significant player in the 5G IoT landscape, with an estimated market share of 29.6% during the forecast period. The government's initiatives to promote 5G technology and the increasing demand for high-speed data in sectors like healthcare, telecommunications, and automotive are driving the market. Telecommunication companies such as Bharti Airtel, Vodafone Idea, and Reliance Jio are investing heavily in developing advanced 5G networks to support IoT applications .
China:
China is leading the Asia-Pacific 5G IoT market, with substantial investments in 5G infrastructure and a strong focus on smart city development. The government's favorable policies and support for advanced technologies are fostering the adoption of 5G IoT across various industries, including manufacturing, healthcare, and transportation. Key companies like Huawei, ZTE, and China Mobile are at the forefront of this growth, investing in research and development to innovate and promote advanced manufacturing services .
Australia:
Australia's 5G IoT market is gaining momentum, with a focus on enhancing connectivity in remote areas and supporting industries such as agriculture and mining. The government's investments in 5G infrastructure and initiatives to promote digital transformation are contributing to the market's growth .
Key Companies
Huawei Technologies Co., Ltd.:
A global leader in telecommunications equipment, Huawei is instrumental in developing 5G infrastructure and IoT solutions. The company is actively involved in deploying 5G networks and promoting IoT applications across various sectors .
Nokia Corporation:
Nokia offers comprehensive 5G solutions, including network infrastructure and IoT platforms. The company is focusing on enabling industries to harness the potential of 5G IoT through innovative technologies and services .
Ericsson:
Ericsson is a key player in 5G network deployment and offers a range of IoT solutions. The company's expertise in network slicing and edge computing is facilitating the adoption of 5G IoT across various industries .
Samsung Electronics:
Samsung is investing in 5G IoT technologies, focusing on developing connected devices and infrastructure. The company's efforts in integrating 5G with IoT are aimed at enhancing user experiences and enabling new applications .
ATT Inc. and Verizon Communications Inc.:
These U.S.-based telecommunications giants are leading the deployment of 5G networks and are actively involved in developing IoT solutions. Their investments in 5G infrastructure are supporting the growth of IoT applications in sectors like healthcare, manufacturing, and transportation .
Conclusion
The integration of 5G technology with IoT is set to revolutionize industries by enabling ultra-fast, reliable, and low-latency communication between devices. As countries invest in 5G infrastructure and companies develop innovative IoT applications, the global 5G IoT market is poised for exponential growth. The synergy between 5G and IoT will drive digital transformation, enhance operational efficiency, and unlock new opportunities across various sectors.
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