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5G IoT Market to Attract Significant Revenue from Increasing Demand for Rapid Internet Connectivity, says Fortune Business Insights™

Top key players in the 5G IoT market are Telefonaktiebolaget LM Ericsson, Nokia, Huawei Technologies Co., Ltd, Qualcomm Technologies, Inc., BT, AT&T Intellectual Property, Juniper Networks, Inc., Bell Canada and others.

/EIN News/ -- Pune, Sept. 16, 2020 (GLOBE NEWSWIRE) -- The global 5G IoT market size is anticipated to rise significantly in the forecast duration on account of the increasing demand for IoT connected devices worldwide. IoT services have been widely adopted by all residential, commercial, and industrial sectors in the past few years. An upcoming report by Fortune Business Insights titled, “5G IoT Market Size, Share & Industry Analysis, By Technology (5G New Radio Standalone Architecture, 5G New Radio Non-Standalone Architecture), By Type (Short-Range IoT devices, Wide-Range IoT devices), By Industry (Manufacturing, Government, Energy and Utilities, Transportation and Logistics, Aviation, Others (Mining)) and Regional Forecast, 2019-2026,” analyses the market and its prime growth trajectories in detail.

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What are the Highlights of the Report?

The report offers insights into the market and focuses on drivers, restraints, challenges, and upcoming opportunities. It also highlights the key industry developments, current trends, and other interesting insights into the market. The report also provides details on the table of segmentation and the names of the leading segments with attributed factors. To purchase the report, log on to the company website.


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Drivers & Restraints-

Increasing Adoption of Industry 4.0 to Augment Growth

Rising technological advancement and use of the internet of things across various sectors such as residential, commercial, and industrial sectors stands as the major factors driving the global 5G IoT market growth. Additionally, the rise in the number of connected IoT devices and increasing data traffic wii boost the growth of the market. Besides this, the increasing demand for low latency connectivity is expected to bode well for the market in the forecast period.

On the negative side, the heavy expenditure required for building a reliable 5G network infrastructure may cause major hindrance to the market. Moreover, government regulations, and other issues related to network connectivity may pose major challenges to the market in the coming years.

Nevertheless, the increasing number of cloud services and rising adoption of Industry 4.0 is likely to create lucrative growth opportunities for the market in the forecast period.


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Segmentation-

Detailed Classification of the 5G IoT Market include:

The market for 5G IoT is classified on the basis of technology, type, industry, and region. Based on technology, the market is categorized into 5G New Radio Standalone Architecture, and 5G New Radio Non-standalone Architecture. With respect to type, the market is bifurcated into wide-range IoT devices, and short-range IoT devices. Based on industry, the market is categorized into aviation, transportation and logistics, energy and utilities, government, manufacturing, and others (mining).

Competitive Landscape-

Advancements in IoT and Innovation in Cellular IoT – Key Focus of Players

Several companies in the market are investing heavily in on IoT technologies and advancement to gain competitive edge in the market competition. The other players are engaging in development of 5G infrastructure, and cellular IoT for deployment in transportation and utility industries to earn lion’s share in the market.

Industry Developments:

February 2020 – Advancements in IoT and innovations in cellular technology was made by Cisco Systems Inc. with readiness and machine learning. This includes new wireless technologies such as Wi-Fi 6 and 5G ultimately promoting the adoption of latest utilities and advanced industrial IoT cases.

List of Key Companies Profiled in 5G IoT Market Report: 

  • Nokia
  • BT
  • Bell Canada
  • Telefonaktiebolaget LM Ericsson
  • Juniper Networks, Inc.
  • Qualcomm Technologies Inc.
  • AT&T Intellectual Property
  • Huawei Technologies Co., Ltd
  • Others

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