5G IoT Market By Component (Hardware, Software, Services), By Network Type (5G Standalone, 5G Non-Standalone), By Application (Manufacturing, Automotive and Transportation, Healthcare, Agriculture, Smart Cities, Energy and Utilities), By End-User (Enterprises, Government, Consumers) and By Region; Global Insights & Forecast (2024 – 2030)

As per Intent Market Research, the 5G IoT Market was valued at USD 12.9 billion in 2023 and will surpass USD 149.0 billion by 2030; growing at a CAGR of 41.9% during 2024 - 2030.

The 5G IoT market is rapidly evolving as next-generation network infrastructure drives unprecedented growth in the Internet of Things (IoT) ecosystem. Leveraging ultra-low latency, massive machine-type communications, and enhanced mobile broadband, 5G IoT enables a broad range of applications across industries like healthcare, smart cities, manufacturing, and transportation. This new era of connectivity promises higher speeds, more reliable connections, and the ability to manage a larger number of connected devices simultaneously, creating immense opportunities for businesses and governments to adopt IoT solutions. The market is expected to grow substantially as industries increasingly rely on 5G for automation, remote monitoring, and data-driven decision-making.

Hardware Segment Is Largest Owing to Growth in Device Connectivity

The hardware segment dominates the 5G IoT market due to the increasing demand for devices such as sensors, gateways, and IoT modules. As more industries adopt IoT solutions, there is a growing need for advanced hardware to support the connectivity, data collection, and real-time communication required in 5G environments. The proliferation of connected devices, from manufacturing robots to smart city infrastructure, continues to fuel demand for innovative and durable hardware solutions that can withstand the rigors of different industrial applications.

Moreover, advancements in hardware, such as low-power wide-area (LPWA) modules and energy-efficient chipsets, are enhancing device performance and expanding their usage across a variety of sectors. The ability of these devices to connect seamlessly through 5G networks is critical to the success of IoT applications, particularly in large-scale deployments such as smart cities and agriculture, where the hardware serves as the backbone of communication networks.

5G Standalone Network Type Is Fastest Growing Owing to Dedicated IoT Infrastructure

Among the network types, 5G standalone (SA) is the fastest-growing segment, driven by its ability to provide a dedicated infrastructure for IoT applications. Unlike the 5G non-standalone (NSA) model, which relies on existing 4G LTE infrastructure, 5G SA offers end-to-end 5G services, allowing for greater reliability, ultra-low latency, and more efficient network slicing. These features make 5G SA ideal for applications requiring real-time data processing and enhanced reliability, such as autonomous vehicles and telemedicine.

The increasing adoption of 5G SA networks is being driven by industries that require dedicated, highly reliable connections for mission-critical applications. With 5G SA, enterprises can create private networks that support higher volumes of data, faster transmission speeds, and the capacity to manage large-scale IoT deployments without interference from public networks.

Manufacturing Application Is Largest Owing to Increased Automation

In the application segment, manufacturing emerges as the largest adopter of 5G IoT technology. The manufacturing industry is leveraging 5G-enabled IoT solutions to optimize production processes, improve supply chain visibility, and enable real-time monitoring of equipment. This is particularly crucial for industries that rely on precision and automation, such as automotive manufacturing, where 5G IoT facilitates faster decision-making and predictive maintenance.

The rise of smart factories, driven by Industry 4.0 initiatives, is further boosting the adoption of 5G IoT solutions in manufacturing. By integrating IoT sensors, robots, and AI-driven analytics, manufacturers can enhance productivity, reduce downtime, and improve overall efficiency. As more companies adopt digital transformation strategies, the manufacturing sector is expected to remain a significant driver of 5G IoT adoption.

Enterprises End-User Segment Is Largest Owing to Broad Adoption Across Industries

The enterprises segment is the largest in terms of end-user adoption, as businesses across a wide range of industries seek to leverage 5G IoT solutions to enhance their operations. From healthcare providers using IoT to improve patient monitoring to automotive companies deploying autonomous vehicles, enterprises are increasingly adopting IoT technologies to drive innovation and remain competitive.

Enterprise adoption of 5G IoT is being fueled by the technology's ability to support large-scale deployments, such as connected factories, smart cities, and logistics networks. With the rise of automation, real-time data analytics, and remote monitoring, enterprises are heavily investing in IoT technologies to improve decision-making, streamline operations, and enhance customer experiences.

North America Is Largest Region Owing to High IoT Adoption and Investment

Regionally, North America is the largest market for 5G IoT, driven by substantial investments in IoT infrastructure, strong demand for connected solutions, and the presence of leading technology companies. The region’s advanced technology ecosystem, coupled with strong enterprise and government interest in smart cities, healthcare innovation, and autonomous transportation, has positioned it as a global leader in 5G IoT adoption. North America’s dominance is also supported by regulatory support and investment in 5G network deployment, which enables faster and more widespread adoption of IoT applications. With continued focus on innovation and development, the region is expected to maintain its leadership position in the 5G IoT market.

Competitive Landscape and Leading Companies

The competitive landscape of the 5G IoT market is characterized by the presence of major global players such as Qualcomm, Huawei, Ericsson, Cisco, and Nokia, all of whom are investing heavily in 5G infrastructure, IoT solutions, and partnerships with enterprises. These companies are focused on developing cutting-edge technologies to improve 5G network efficiency, expand IoT device connectivity, and offer advanced software platforms that simplify IoT deployment.

Smaller companies and startups are also entering the market, offering specialized IoT solutions and platforms that cater to niche applications like smart agriculture, telemedicine, and smart cities. The competitive environment is marked by constant innovation, strategic partnerships, and M&A activities, as companies seek to expand their portfolios and capitalize on the growing demand for 5G IoT solutions.

Recent Company News

• Qualcomm introduced a new 5G IoT modem tailored for low-power applications, enhancing connectivity in smart city and manufacturing solutions.
• Ericsson and AT&T partnered to develop private 5G networks for industrial IoT, aiming to streamline automation and improve operational efficiency.
• Huawei launched a 5G-enabled IoT platform focusing on smart grid applications, advancing sustainable energy initiatives across several markets.
• Intel announced plans to acquire an AI-driven IoT company, expanding its 5G IoT portfolio to support connected devices in healthcare.
• Nokia released its latest network slicing feature for IoT, providing more reliable and customizable 5G connectivity for various industries.

List of Leading Companies:

• AT&T Inc.
• China Mobile Ltd.
• Cisco Systems, Inc.
• Deutsche Telekom AG
• Ericsson
• Huawei Technologies Co., Ltd.
• Intel Corporation
• Nokia Corporation
• Qualcomm Technologies, Inc.
• Samsung Electronics Co., Ltd.
• Sierra Wireless
• SK Telecom Co., Ltd.
• Telefonica S.A.
• Verizon Communications Inc.
• Vodafone Group plc

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