5G IoT Market Report Scope & Overview:

The 5G IoT Market Size was valued at USD 12.9 Billion in 2023 and is expected to reach USD 147.45 Billion by 2031 and grow at a CAGR of 35.6 % over the forecast period 2024-2031.

The growing demand for low-latency connectivity solutions and the increase in data traffic generation will help to the market growth. The demand for private 5G networks is Increasing across enterprises, industries, and governments will create opportunities for the 5G Internet of Things (IoT) market. The 5G spectrum increases the frequencies at which cellular technology may send and receive data. The potential top speed of 5G technology is 20 Gbps, but the highest speed of 4G is just 1 Gbps. 5G takes the connection to the next level by providing clients with cloud-based services. 5G networks are software-driven and visualized, and they make use of cloud technology. With smooth open roaming capabilities between cellular and WIFI connections, the 5g network will also ease mobility. The new Wi-Fi 6 wireless standard has several characteristics in common with 5g, such as upgrading performance.

5G IoT Market Revenue Analysis

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The Minister of Digital Economy and Society (DES) Mr. Chaiwut Thanakamanusorn examines the launch of dtac 5G IoT Solutions at the Thailand 5G Summit 2022. dtac presents solutions for three major markets: Smart Factory, Smart Logistics, and Smart Utilities, all of which will help to revitalize the Thai economy by digitally modernizing the manufacturing and business sectors.

Market Dynamics


  • The Rapidly growing advancements into Wireless technology.

  • The Increasing numbers of Data usage on mobile networks Worldwide.

  • Consistently Growing voice-enabled devices Demand Drives market.

  • Introducing the Revolutionary 5G IoT Ecosystem and Essential Communication Services

The utilization of IoT applications across a multitude of industries, which depends on expansive connectivity and the ability to manage numerous connections, has increased in demand for massive IoT technologies. This trend has positioned IoT as a key focus in the realm of IoT connectivity technologies. this presents an opportunity for 5G, telecommunication companies are still leaning on existing cellular IoT standards, such as Narrowband Internet of Things (NB-IoT), in the early stages of 5G implementation. 5G networks are anticipated to facilitate the widespread deployment of intelligent IoT devices across various scenarios, offering a robust foundation to support the widespread integration of critical communication services. The development of Massive Machine Type Communication (mMTC) within the 3rd Generation Partnership Project (3GPP) Release 13/14 Low Power Wide Area Network (LPWAN) technologies, including NB-IoT, is poised to meet the majority of 5G mMTC requirements. The increasing adoption of IoT technologies and the continuous evolution of Machine-to-Machine (M2M) communication networks are revolutionizing numerous industries by interconnecting a diverse array of devices, appliances, systems, and services.


  • Improper standardization of Internet of Things (IoT) protocols is a significant issue that hinders the seamless integration of 5G IoT.

  • A huge cost is required for the 5G IoT implementation.


  • 5G networks with high dependability and low latency will help to speed up a new generation of IoT applications.

  • The Increasing Private 5G networks are in high demand among businesses, governments, and sectors.

  • The Continuously Growing Smart Infrastructure Development Creates Opportunity for the Market.

The development of smart infrastructure, including initiatives like smart cities and smart buildings, represents a cutting-edge approach to delivering advanced services and infrastructure. A smart city is characterized by its efficient use of ICT infrastructure to enhance quality of life and improve the effectiveness of urban operations and services. Key components of a smart city include smart transportation, smart buildings, smart utilities, and smart citizen services. The successful implementation of smart city projects relies heavily on technologies such as data communications, cloud computing, mobility, and sensors, which collectively form the Internet of Things (IoT). With a growing demand for rapid connectivity and efficient communication, the future of 5G services presents significant opportunities for further advancement in smart infrastructure.


  • The process of spectrum harmonization is experiencing delays in various regions across the globe.

  • The continuously increasing Concerns about data privacy and security.

  • Uncertainty poses a risk to return on investments (RoIs).

Impact of Russia-Ukraine War:

The ongoing crisis between Russia and Ukraine has reverberated across various sectors, and notably affecting the 5G Internet of Things (IoT) market. One significant impact is the surge in defense expenditures among neighboring countries, reaching the 2 percent GDP mark by 2023. This uptick in military spending could indirectly impact investments in technological domains like 5G IoT, potentially diverting funds away from infrastructure development. The conflict has intensified both cyber and conventional warfare tactics, with a increase in cyberattacks orchestrated by Russian government-backed entities targeting Ukraine and NATO nations. This situation underscores the critical importance of cybersecurity within the realm of 5G IoT. The fusion of cyber and kinetic assaults adds layers of complexity to ensuring the security and reliability of IoT networks, and reshaping future strategies and investments in 5G IoT infrastructure. The corporate retreat from Russia has had repercussions on electronics companies, including major players like Nokia and Ericsson, which hold significant share in the 5G infrastructure market. Their decision to suspend operations in Russia could Impact the deployment of 5G technology in the region and the competitive landscape, potentially disrupting global supply chains and market dynamics. The sanctions imposed on Russian firms and restrictions on chip exports by various entities like the EU further compound the situation, potentially leading to equipment shortages and project delays in the realm of 5G.

Impact of Economic Downturn:

The ongoing economic slowdown has intricate implications for the 5G Internet of Things (IoT) market. Despite grappling with the repercussions of diminished economic expansion and the aftermath of the COVID-19 pandemic, the 5G IoT market displays resilience and promising growth prospects. Projections indicate a substantial expansion, with an impressive compound annual growth rate (CAGR) during this period. The economic downturn has marginally impeded IoT connection and revenue growth, the sector remains steadfast. The economic slowdown presents hurdles. The 5G IoT market persists in its growth trajectory, buoyed by technological innovations, strategic industry collaborations, and the burgeoning integration of IoT applications across diverse sectors. Sustained investments in 5G infrastructure and the expanding utilization of IoT devices across manufacturing, transportation, automotive, and smart city ventures contribute to a promising outlook for the 5G IoT market prevailing economic uncertainties.

Market Segmentation

By Component

  • Hardware

  • Platform

  • Connectivity

  • Services

    • Consulting Services

    • Deployment and Integration Services

    • Support and Maintenance Services

By Organization Size

  • Large Enterprises

  • SMEs

By Network Type

  • 5G Standalone

  • 5G non-standalone

5G Standalone (SA) and 5G Non-standalone (NSA). The 5G Standalone market has a significant share of the market. 5G NR SA is a brand-new radio network designed specifically for 5G networks. The 5G Radio Access Network (RAN) and 5G core networks are the two main components. 5G NR SA solutions are projected to outperform 5G NR NSA solutions in terms of performance. Several new capabilities are built into the 5G NR SA solutions. Control and User Plane Separation (CUPS), multi-Gbps support, network slicing, ultra-low latency, and virtualization are some of the new built-in capabilities.

By Type

  • Short-range IoT Devices

  • Wide-range IoT Devices

The wide-range IoT devices segment is growing with a higher growth rate during the forecast period. and holds more than 45% share. Many wireless standards are limited by their range, and a challenge for various applications that require longer distances. To address this challenge, a new set of longer-range wireless technologies known as Low-Power Wide-Area Networks (LPWANs) has been developed. LPWANs bridge the gap between traditional short-range technologies and more expensive M2M alternatives. One of the major players in this space is LoRa technology, which offers long-range capabilities, low power consumption, and secure data transmission for IoT applications. LoRa provides a greater range than cellular networks and can be utilized in public, private, or hybrid networks. This technology seamlessly integrates into existing infrastructure and enables cost-effective, battery-operated IoT applications.

By End-User

  • Manufacturing

  • Healthcare

  • Energy & Utilities

  • Automotive And Transportation

  • Supply chain & Logistics.

  • Agriculture

  • Government & Public Safety

  • Others

The manufacturing segment is projected to hold the largest market share of more than 25%. The implementation of Industry 4.0 has been further driven by the introduction of 5G technology, which is the way for the development of intelligent factories of the future. With its high capacity, wireless flexibility, and low-latency performance capabilities, 5G has revolutionized the manufacturing industry. The Manufacturers industry are increasingly shift towards digitalization to reduce costs and increase return on investment. The integration of 5G Internet of Things (IoT) technology promises to deliver new process efficiencies and technological advancements, ultimately leading to increased profitability and productivity. Industry 4.0 is anticipated to be driven by cyber-physical systems and IoT, both of which will depend on the support of 5G networks. This will enable the creation of efficient, connected, and flexible factories of the future.

5G IoT Market Segmentation Analysis

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Regional Analysis

The Asia Pacific region dominates the market, holding more than 35% of the global revenue share. This growth is Driven by Because of the Increase in 5G IoT initiatives, particularly in countries like China and India where smart cities consistently increasing. The Favorable government policies promoting automation and the presence of technologically advanced start-ups are also driving market growth in the region. The Asia Pacific region stands out for its large populations, emerging economies, and dynamic business landscape, presenting a huge opportunity for 5G IoT network providers.

North America is expected to grow at a significant growth rate in the coming years. The region is witnessing a surge in 5G infrastructure investments, with a focus on deploying fiber-optic cables and other network components. The Government initiatives to promote 5G technology adoption through various programs and regulations are driving the region's progress in growing network infrastructure.


North America

  • US

  • Canada

  • Mexico


  • Eastern Europe

    • Poland

    • Romania

    • Hungary

    • Turkey

    • Rest of Eastern Europe

  • Western Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Netherlands

    • Switzerland

    • Austria

    • Rest of Western Europe

Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Vietnam

  • Singapore

  • Australia

  • Rest of Asia Pacific

Middle East & Africa

  • Middle East

    • UAE

    • Egypt

    • Saudi Arabia

    • Qatar

    • Rest of the Middle East

  • Africa

    • Nigeria

    • South Africa

    • Rest of Africa

Latin America

  • Brazil

  • Argentina

  • Colombia

  • Rest of Latin America


The major key players are AT & T Intellectual Property, Cisco, Telefnaktiebolaget LM Ericsson , Huawei Technologies Co. Ltd., Intel Technology., Qualcomm Technologies, Inc., Samsung Electronics Co. Ltd., NEC Corporation, Nokia , ZTE Corporation

AT&T Intellectual Property -Company Financial Analysis

Company Landscape Analysis

Recent Development:

  • In October 2022, T-Mobile, Cradlepoint, and Bosch joined forces to develop cutting-edge IoT connectivity solutions, including autonomous vehicles, robotics, and AR/VR, utilizing 5G Wireless WAN technology.

  • In February 2023, Cisco and NEC Corporation revealed their intention to enhance their collaborative efforts by incorporating system integration solutions and exploring potential opportunities in 5G xHaul and private 5G. This partnership aims to assist consumers in revolutionizing their architecture and connecting a greater number of individuals and devices.

5G IoT Market Report Scope:
Report Attributes Details
Market Size in 2023  US$ 12.9 Bn
Market Size by 2031  US$ 147.5 Bn
CAGR   CAGR of 35.6% From 2024 to 2031
Base Year  2023
Forecast Period  2024-2031
Historical Data  2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Component (Hardware, Platform, Connectivity, Services)
• By Organization Size (Large Enterprises, SMEs)
• By Network Type (5G Standalone, 5G non-standalone)
• By Type (Short-range IoT Devices, Wide-range IoT Devices)
• By End-User (Manufacturing, Healthcare, Energy & Utilities, Automotive And Transportation, Supply chain & Logistics., Agriculture, Government & Public Safety, Others)
Regional Analysis/Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America)
Company Profiles AT & T Intellectual Property, Cisco, Telefnaktiebolaget LM Ericsson , Huawei Technologies Co. Ltd., Intel Technology., Qualcomm Technologies, Inc., Samsung Electronics Co. Ltd., NEC Corporation, Nokia , ZTE Corporation
Key Drivers • A massive 5G IoT ecosystem and vital communication services are being unleashed.
• Wireless technology advancements
Market Challenges • Spectrum harmonization is taking longer than expected in different parts of the world
• In terms of ROIs, there is a risk of uncertainty


Frequently Asked Questions

Ans: - The estimated market size for the 5G IoT market for the year 2031 is USD 147.45 Billion

Ans: - A massive 5G IoT ecosystem and vital communication services are being unleashed and wireless technology advancements.

Ans: - In 2023, APAC is expected to have the largest market share.

Ans: - The major key players are AT & T Intellectual Property, Cisco, Telefnaktiebolaget LM Ericsson, Huawei Technologies Co. Ltd., Intel Technology., Qualcomm Technologies, Inc., Samsung Electronics Co. Ltd., NEC Corporation, Nokia, ZTE Corporation.

Ans: - The study includes a comprehensive analysis of 5G IoT Market trends, as well as present and future market forecasts. DROC analysis, as well as impact analysis for the projected period. Porter's five forces analysis aids in the study of buyer and supplier potential as well as the competitive landscape etc.


1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Industry Flowchart

3. Research Methodology

4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Challenges

5. Impact Analysis

5.1 Impact of Russia-Ukraine Crisis

5.2 Impact of Economic Slowdown on Major Countries

5.2.1 Introduction

5.2.2 United States

5.2.3 Canada

5.2.4 Germany

5.2.5 France

5.2.6 UK

5.2.7 China

5.2.8 Japan

5.2.9 South Korea

5.2.10 India

6. Value Chain Analysis

7. Porter’s 5 Forces Model

8.  Pest Analysis

9. 5G IoT Market, By Component

9.1 Introduction

9.2 Trend Analysis

9.3 Hardware

9.4 Platform

9.5 Connectivity

9.6 Services

9.6.1 Consulting Services

9.6.2 Deployment and Integration Services

9.6.3 Support and Maintenance Services

10. 5G IoT Market, By Organization Size

10.1 Introduction

10.2 Trend Analysis

10.3 Large Enterprises

10.4 SMEs

11. 5G IoT Market, By Network Type

11.1 Introduction

11.2 Trend Analysis

11.3 5G Standalone

11.4 5G non-standalone

12. 5G IoT Market, By Type

12.1 Introduction

12.2 Trend analysis

12.3 Short-range IoT Devices

12.4 Wide-range IoT Devices

13. 5G IoT Market, By End user

13.1 Introduction

13.2 Trend analysis

13.3 Manufacturing

13.4 Healthcare

13.5 Energy & Utilities

13.6 Automotive and Transportation

13.7 Supply chain & Logistics.

13.8 Agriculture

13.9 Government & Public Safety

13.10 Others

14. Regional Analysis

14.1 Introduction

14.2 North America

14.2.1 USA

14.2.2 Canada

14.2.3 Mexico

14.3 Europe

14.3.1 Eastern Europe Poland Romania Hungary Turkey Rest of Eastern Europe

14.3.2 Western Europe Germany France UK Italy Spain Netherlands Switzerland Austria Rest of Western Europe

14.4 Asia-Pacific

14.4.1 China

14.4.2 India

14.4.3 Japan

14.4.4 South Korea

14.4.5 Vietnam

14.4.6 Singapore

14.4.7 Australia

14.4.8 Rest of Asia Pacific

14.5 The Middle East & Africa

14.5.1 Middle East UAE Egypt Saudi Arabia Qatar Rest of the Middle East

14.5.2 Africa Nigeria South Africa Rest of Africa

14.6 Latin America

14.6.1 Brazil

14.6.2 Argentina

14.6.3 Colombia

14.6.4 Rest of Latin America

15. Company Profiles

15.1 AT & T.

15.1.1 Company Overview

15.1.2 Financials

15.1.3 Products/ Services Offered

15.1.4 SWOT Analysis

15.1.5 The SNS View

15.2 Cisco.

15.2.1 Company Overview

15.2.2 Financials

15.2.3 Products/ Services Offered

15.2.4 SWOT Analysis

15.2.5 The SNS View

15.3 Telefnaktiebolaget LM Ericsson

15.3.1 Company Overview

15.3.2 Financials

15.3.3 Products/ Services Offered

15.3.4 SWOT Analysis

15.3.5 The SNS View

15.4 ZTE Corporation.

15.4 Company Overview

15.4.2 Financials

15.4.3 Products/ Services Offered

15.4.4 SWOT Analysis

15.4.5 The SNS View

15.5 Huawei Technologies Co. Ltd.

15.5.1 Company Overview

15.5.2 Financials

15.5.3 Products/ Services Offered

15.5.4 SWOT Analysis

15.5.5 The SNS View

15.6 Intel Technology.

15.6.1 Company Overview

15.6.2 Financials

15.6.3 Products/ Services Offered

15.6.4 SWOT Analysis

15.6.5 The SNS View

15.7 Qualcomm Technologies Inc.

15.7.1 Company Overview

15.7.2 Financials

15.7.3 Products/ Services Offered

15.7.4 SWOT Analysis

15.7.5 The SNS View

15.8 Samsung Electronics Co. Ltd.

15.8.1 Company Overview

15.8.2 Financials

15.8.3 Products/ Services Offered

15.8.4 SWOT Analysis

15.8.5 The SNS View

15.9 NEC Corporation

15.9.1 Company Overview

15.9.2 Financials

15.9.3 Products/ Services Offered

15.9.4 SWOT Analysis

15.9.5 The SNS View

15.10 Nokia

15.10.1 Company Overview

15.10.2 Financials

15.10.3 Products/ Services Offered

15.10.4 SWOT Analysis

15.10.5 The SNS View

16. Competitive Landscape

16.1 Competitive Benchmarking

16.2 Market Share Analysis

16.3 Recent Developments

16.3.1 Industry News

16.3.2 Company News

16.3.3 Mergers & Acquisitions

17. USE Cases and Best Practices

18. Conclusion

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Secondary Research

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Primary Research

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Data Bank Validation

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