DUBLIN, September 17, 2021--(BUSINESS WIRE)--The "5G IoT Market - Growth, Trends, COVID-19 Impact, and Forecast (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The 5G IoT Market was valued at USD 1.50 billion in 2020, and it is expected to reach USD 40 billion by 2026, at a CAGR of 72.9%, over the forecast period 2021-2026.
5G is essential to the Internet of Things because of the need for a faster network with higher capacity that can serve connectivity needs. The 5G spectrum increases the frequencies on which cellular technologies will transfer data. This broader spectrum available for use increases the overall bandwidth of mobile networks, allowing for additional devices to connect.
Key Market Trends
Automotive Industry is expected to witness significant growth rate
Autonomous cars will take some time from widespread deployment, but connected cars are witnessing significant developments. The modern automobile is fast becoming a sensor-driven mobile Internet of Things device, with considerable onboard computing power and communication systems devoted to three broad areas, which include vehicle location, driver behavior, engine diagnostics, and vehicle activity; the surrounding environment; and the vehicle's occupants. All of these systems use cellular and increasingly 5G technology, among others.
Major development is underway on Rel 17, which will include enhancements to low-power wide-area connectivity (NB-IoT); a new feature called NR Light, which will cater for low-power/high-bandwidth wearable and IoT devices; support for millimeter-wave spectrum above 52.6GHz; MIMO enhancements; and support for non-terrestrial satellite networks. This is expected to enhance further the development of connected vehicles, which serves as next-generation upgradation to the automotive industry.
North America is expected to hold major share
North America is expected to hold significant share during the forecast period as the majority of the mobile operates in the United States such as AT&T, Verizon and T-Mobile rolled out 5G technology in the majority of the regions and the companies in the area are even working on mass the deployment of NB-IoT network. In April 2019, AT&T launched the NarrowBand Internet of Things (NB-IoT) network in the United States. This network is expected to provide a wave of IoT connections, and it's a big step toward massive IoT and 5G.
With the outbreak of COVID-19 in the region, everything moved to online, from elementary schools to college classes, from entire company workforces to shareholder meetings. Moreover, the social distancing required to mitigate the spread going to become the business case for more advanced and robust 5G IoT technologies for a future in which business, health care, and human interaction must take place more than an arm's length.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 The ability of 5G technology to handle millions of IoT connected devices
4.2.2 Advantages of 5G over LTE for low latency and critical applications
4.3 Market Restraints
4.3.1 Existing 4G LTE technology is sufficient for certain IoT use cases
4.3.2 Costs involved in the up-gradation of the infrastructure from LTE to 5G
4.4 Industry Attractiveness - Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.2 End-User Industry
6 COMPETITIVE LANDSCAPE
Huawei Technologies Co Ltd
Telefonaktiebolaget LM Ericsson
Cisco Systems Inc
Deutsche Telekom AG (T-Mobile)
Verizon Communication Inc
Vodafone Group PLC
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/2neg4i
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