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5G IoT Endpoint Market size is projected to grow at substantial growth rate during the forecast period i.e., between 2024-2036. Growing demand for extended network coverage and capacity to accommodate huge number of IoT connected devices are some of the significant factors boosting the market growth.
Growth Drivers
Rising Demand for Connected IoT Devices and Extended Network Coverage to Boost the Market Growth
There has been growing requirement for networks of 5G IoT owing to its benefits such as low power, ultra-reliability, lower latency, faster connectivity, high speed and higher security. According to the GSM association, the total number of IoT connections will grow to 25.2 billion by 2025. Further, the market growth is attributed to the integration of 5G and IoT which offers high network support and operations that require real-time access to changes in data instantly. These factors are anticipated to significantly expand the 5G IoT endpoint market.
Increasing Applications in Automation Industry and Fleet Management to Drive the Market Growth
The rising use of sensors by the automation industry owing to its real-time tracking, analyzing, and processing of collected data supports the 5G IoT endpoint market. Additionally, predictive maintenance, asset tracking, smart metering, fleet management, weather monitoring systems, infrastructure security systems, and traffic monitoring are the prominent application where 5G IoT endpoint is widely used which further fuels the market growth. On the back of these, the 5G IoT endpoint market is predicted to grow over the forecast period.
Challenges
High Capital Investment in Network Infrastructure to Hamper the Market Growth
Despite the advancement in network technologies, large capital expenditure for investment in infrastructural establishment of 5G IoT endpoint can negatively affect the market growth in the future. Further, inability to keep pace with the ongoing advancements in 5G technology by several developing nations around the globe is estimated to hinder the growth of market in the future.
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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Regional Scope |
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The market is segmented by range into short-range and wide-range. Among these segments, the segment for short-range is anticipated to hold the leading share in the market on account of development in innovative 5G IoT applications that can meet the ever-growing need for high data rate, low latency and high-speed connectivity by global consumers.
Our in-depth analysis of the global market includes the following segments
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By Radio Technology |
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By Range |
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By End User
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On the basis of regional analysis, the 5G IoT endpoint market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America industry is expected to hold largest revenue share by 2036, on account of presence of leading players in the region. Furthermore, market in Europe is anticipated to gain significant market share in the upcoming years. Additionally, increasing number of connected IoT devices owing to huge rise in wireless connectivity in this region further promotes 5G IoT endpoint market. The market in Asia Pacific region is predicted to grow at the highest rate during the forecast period on account of huge support and interest taken by governments in this region to initiate several smart infrastructure projects such as smart cities. In addition, market for 5G IoT endpoint carries enormous potential, especially in countries such as India, Japan, China, Korea, Malaysia and governments which further raise the demand for 5G IoT endpoint.
March 2020: Nokia announced that it has enhanced its Worldwide IoT Network Grid (WING) managed services to support operators in offering 5G IoT services with minimal capex investment.
Author Credits: Abhishek Verma
Copyright © 2024 Research Nester. All Rights Reserved
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