5G IoT Market Research Report Outlook, Strategies, Industry Analysis, Future Scope, Key Drivers and Forecast To 2027
                     5G IoT Market Research Report Outlook, Strategies, Industry 
Analysis, Future Scope, Key Drivers and Forecast To 2027
Market Overview
The global 5G IoT market is not just growing but proliferating rapidly. Market growth attributes to the rising 
demand for Internet connectivity with high reliability. Besides, the growing use of Internet-connected devices and 
government initiatives for smart cities drive the market demand. Moreover, the continually rising demand for 
connectivity with low latency and higher download & upload speeds over the mobile network escalate market 
growth. 
According to Market Research Future (MRFR), the global 5G IoT market is projected to garner a valuation of 
approximately USD 7.9 BN by 2027 at a massive CAGR of 53% throughout the assessment period (2020 – 
2027). The rising adoption of cloud-based services and demand for expanded access to 5G IoT ultra wideband 
service performance is growing rapidly. 
Due to the recent coronavirus outbreak, the global telecom industry reportedly has faced major delays in the 
launch of fifth-generation mobile services. Additionally, the regulatory timelines lag and delayed issuance of 
spectrum and auctions have increased the market demand exponentially. Furthermore, lockdowns and 
movement restrictions have affected the business operations of equipment manufacturers leading to a shortage 
of components.
Most countries have postponed their expenditure plans for later, which, in turn, affect the consumers and 
business organizations, presenting limited/unavailability of network service challenges. Additionally, the high 
cost associated with the implementation of the 5G infrastructure acts as a major headwind for the growth of the 
market. 
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Segmental Analysis
The report is segmented into five dynamics; 
By Service: Enhanced Mobile Broadband (eMBB), Ultra-Reliable Low Latency 
Communications (URLLC), and Massive Machine-Type Communications (mMTC).
By Technology: 5G New Radio (NR) Standalone Architecture and 5G New Radio (NR) Non-
Standalone Architecture. 
By Type: Short-Range IoT Devices and Wide-Range IoT Devices. 
By Vertical: Consumer Electronics, Automotive, Railway, Mining, Utilities, Healthcare, 
Agriculture, Manufacturing, and others.
By Regions :  Europe, Americas, APAC, and Rest of the World.
Regional Analysis
North America dominates the global 5G IoT technology market. The largest market share attributes to the 
increase in the demand for 5G IoT services across industry verticals in this region. Besides, the rising 
demand for Internet connectivity with high reliability and the rapid adoption of Internet-connected devices 
drive the regional market's growth. Moreover, the presence of key technology providers, such as AT&T 
(US), T-Mobile USA, Verizon (US), and others, contributes to the regional market growth.
Substantial R&D investments by key players to advance 5G technology, spectrum licenses, and essential 
infrastructure for network connectivity in the region further propel the market growth. The US, followed by 
Canada and Mexico, hold considerable shares in the regional market. Also, various telecom companies in 
the region and the rising uptake of the latest technologies, such as IoT, substantiate market growth.
Europe stands second in the global 5G IoT technology market. Market growth is driven by the increasing 
adoption of IoT technologies in the manufacturing sector. Additionally, rapid developments in the 
automotive sector, such as trials being conducted for driverless vehicles, boost the market demand. 
Rigorous R & D activities in the region and ongoing customer trials in countries such as the UK, 
Germany, and France positively contribute to market growth.
The Asia Pacific region is a promising market for 5G IoT services. Factors such as the increasing focus 
on improving connectivity and high R&D investment in the region influence market growth. Furthermore, 
technical expertise, strong presence of key players, and increased industrialization foster the growth of 
the market. Moreover, the rising demand for 5G IoT services in emerging countries such as South Korea 
and Japan propels the growth of the regional market.
Key Players
Highly competitive, the global 5G IoT technology market appears fragmented due to the presence of 
several major technology providers. To gain a substantially larger market share, 5G IoT technology 
providers adopt strategies such as mergers & acquisitions, collaboration, expansion, and product & 
technology launch. Technology providers make substantial investments in transforming the consumer 
and business landscape in the future. 
Major Players: 
Players leading the global 5G IoT market include Nokia (Finland), Telefonaktiebolaget LM Ericsson 
(Sweden), Huawei Technologies Co., Ltd. (China), T-Mobile USA, INC (US), AT&T (US), Verizon (US), 
Telefónica S.A (Spain), Vodafone Limited (UK), BT (UK), Telstra Group (Australia), Sierra Wireless 
(Canada), Etisalat (UAE), Qualcomm Technologies, Inc. (US), Bell Canada (Canada), Singtel 
(Singapore), and Rogers Communications Inc. (Canada), among others.
Industry/ Innovation/ Related News
November 14, 2020 ---- Oman ministry of finance (MoF) announced its partnership with Swedish 
telecommunications company Ericsson to develop the 5G IoT Center. MoF, in partnership with Ericsson, would 
open a center of excellence (CoE) to explore the full potential of telecoms technologies and facilitate 5G and IoT in 
the country. The MoF also signed a cooperation program with the Ministry of Higher Education, Research and 
Innovation, and operator Omantel to establish the CoE to diversify its economy.
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