What is 5G IoT Market?
The fifth-generation or 5G network is still under development. The goal is to push the boundaries of high speed, low latency, and low power consumption for the Internet of Things. The combination of 5G and IoT has hereby accelerated the uploads and downloads with low latency as well as network support. The global 5G IoT market is expected to gain long-term recognition due to its various uses and benefits. The Internet of Things has dramatically changed the corporate and consumer landscape over the past few decades. The number of IoT devices is expected to grow, from industrial devices and portable devices to connected cars. The development of the 5G IoT market is also being driven by the growing demand for low latency. The 5G IoT networks can also provide backup operations that require instant real-time access to data changes.
The market study is being classified by Type (Short-Range IoT Devices and Wide-Range IoT Devices), by Application (Industrial robots, Factory vehicles, Predictive maintenance, Connected tools and Wearable technology) and major geographies with country level break-up.
Ericsson (Sweden), Nokia (Finland), Huawei (China), AT&T (United States), Verizon (United States), Sprint (United States), Telefónica (Spain), BT Group (United Kingdom), Vodafone (United Kingdom), Telstra (Australia), Etisalat (UAE), Telus (Canada) and Bell Canada (Canada) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Singtel (Singapore) and Rogers (Canada).
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that European Players will contribute to the maximum growth of Global 5G IoT market throughout the predicted period.
Analyst at AMA have segmented the market study of Global 5G IoT market by Type, Application and Region.
On the basis of geography, the market of 5G IoT has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Usage of IoT and Connected Devices
- Rapidly Evolving Spaces to 5G
- The Increasing Demand for Improved Network Capacity to Access Connected Services
- Growing Demand for High-Speed Connectivity and Communication
- The Rising Use of Sensors by the Automation Industry
- The Surging Availability of Large Data Centers Makes It Convenient To Use 5G
- High Capital Expenditure for Infrastructural Establishment of 5G IoT
- Escalating Demand for Data Traffic Control Is Anticipated To Propel the 5G Technology
- The Overall Adoption of 5G NR Standalone Architecture
- Rising Adoption of Industry 4.0 in Manufacturing to Improve Operation Cycle and Production Process
- Technical Issues Due To Multiple Carrier Involvement
Market Leaders and some development strategies
In February 2019, Nokia partnered with Korea Telecom (KT) for conducting trials of 5G Network Function Virtualization (NFV) and network slicing. Nokia will also help KT to enhance 5G service and network operational efficiency. Also, Nokia collaborated with Vodafone on active antennas to boost 5G radio capacity and reduce the total cost of ownership.
The 3GPP Release 15 September 2017 and Release 16 in July 2018 which defines the 5G NR standards, telecommunications operators are targeting early 2019 for a rollout of commercial 5G services with many announcing an accelerated timetable for practical trials. The primary technologies will be Millimeter-wave bands (26, 28, 38, and 60 GHz) offer performance as high as 20 Gbit/s and “Low-band 5G" and "Mid-band 5G" use frequencies from 600 MHz to 6 GHz, especially 3.5-4.2 GHz.
Key Target AudienceProviders of 5G IoT, End-Users, Potential Investors, Regulatory Bodies, Market Research Firms and Others
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