The 5G IoT market size is projected to grow from USD 13.2 billion in 2023 to USD 59.7 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 35.1% during the forecast period. The massive 5G IoT ecosystem and critical communication services are driving the growth of the 5G IoT market.
The major vendors covered in the 5G IoT market include China Mobile (China), AT&T (US), Verizon (US), T-Mobile US, INC. (US), Vodafone Group plc (UK), Orange SA (France), Telefónica S.A. (Spain), SK Telecom Co., Ltd (South Korea), Deutsche Telekom AG (Germany), Ericsson (Sweden), Huawei Technologies Co., Ltd. (US), Nokia Corporation (Finland), Samsung Electronics (South Korea), Cisco Systems (US), NEC Corporation (Japan), Semtech Corporation (US), Telit Cinterion (US), Quectel Wireless Solutions Co., Ltd (China), GosuncnWelink Corporation (China), Neoway Technology Co. Ltd. (China), Fibocom Wireless Inc. (China), u-blox AG (Switzerland), Sunsea AIOT Technology Co. Ltd. (China), Omniflow (Portugal), Tri Cascade Inc. (US), Celona (US), and Sequans Communications (France). These players have adopted various growth strategies, such as partnerships, business expansions, agreements, and collaborations, new product launches, to expand their presence in the 5G IoT market.
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AT&T (US) is one of the largest communication companies globally. It offers telecommunications media and technology services, such as voice and data communications, to consumers, providers, and businesses. The company has two reportable segments, such as Communications and Latin America. Its Communications segment caters to wireless and wireline telecom and broadband services to consumers located in the US and businesses worldwide. And the Latin America segment provides wireless services in Mexico. The company divides its revenue into categories, such as service and equipment. It offers postpaid and prepaid wireless services in Mexico to approximately 22 million subscribers under the AT&T and Unefon brands. The company provides 5G IoT solutions and services, such as IoT Networks, AT&T IoT Console, 5G Security, and Mobility Consulting Services. The solution supports connecting devices with a secure, cost-effective, reliable IoT network. The Low-Power Wide-Area (LPWA) networks, such as LTE-M and NB-IoT, are designed and optimized for IoT connectivity. It extends to network and communications solutions worldwide. It has a regional presence in North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Verizon (US) provides communication, technology, information, and entertainment products and services. The clients of the company include individuals, businesses, or government entities. The company caters to video and voice services in their networks and platforms, which meet the need for mobility, reliable network connectivity, security, and control of customers. The company has two reportable segments: Verizon Consumer Group (Consumer) and Verizon Business Group (Business). Its Consumer segment provides consumer-focused wireless and wireline communications services and products. And the Business segment offers wireless and wireline communications services and products, consisting of data, video and conferencing services, security and managed network services, corporate networking solutions, local and long-distance voice services, and network access to deliver various IoT services and products. Also, its Consumer and Business segments provide a wide variety of wireless services accessible on a broad range of devices. It offers solutions for various industries, such as construction, healthcare, education, the federal government, automotive, manufacturing, public safety, retail, state and local government, financial, media and entertainment, and energy and utilities.
5G IoT Market by Component (Hardware, Platform, Connectivity, and Services), Network Type (5G Standalone and 5G Non-Standalone), Organization Size, Type (Short-range IoT Devices, Wide-range IoT Devices), End Users and Region - Global Forecast to 2028
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