5G IoT Market

Key players have adopted various strategies to grow in the global 5G IoT Market

IoT has been radically changing consumer as well as business landscape over the last few decades. The number of connected devices is expected to be around 22 to 25 billion by 2025 ranging from consumers wearable devices to industrial devices to connected cars. The diverse set of connected devices from a range of industry verticals needs a unique set of communication infrastructure. In addition to this, these connected devices require low power with ultra-reliable connections equipped with higher security. MarketsandMarkets forecasts the 5G IoT market size 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.

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), Telus (Canada), Bell Canada (Canada), Singtel (Singapore), and Rogers (Canada). These players have adopted various strategies to grow in the global 5G IoT market.

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Ericsson primarily focuses on the Internet of Things (IoT) solutions that support about 50 million smart devices, globally. The company provides cloud-optimized network applications wherein the provided network is shared with cloud-optimized applications, along with an extremely high level of automation and resource arrangement, which are important capabilities for 5G service delivery. In November 2018, Ericsson partnered with MTN and Netstar for 5G customer trial at Netstar’s headquarters in Midrand (South Africa).

AT&T deployed FirstNet, a nationwide network for first responders in 2018. The company is leveraging this major infrastructure investment as an opportunity to install 5G capable radios on its cell towers. These radios can be upgraded to 5G through a simple software update, giving the company the power to decide speed and cost advantage, as it is scaling its rollout of mobile 5G in the current year. AT&T is among the few market leaders who have introduced standards-based mobile 5G service. In February 2019, AT&T announced to make at least 21 cities in the US, 5G mobile network ready by early 2020 with the use of FirstNet.

Related Reports:

5G IoT Market by Connection, Radio Technology (5G NR Standalone and 5G NR Non-Standalone Architecture), Range (Short- and Wide-Range IoT Devices), Vertical (Manufacturing, Energy & Utilities, Healthcare, Government), and Region - Global Forecast to 2025

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Report Code
TC 7021
RI Published ON
4/4/2019
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