5G IoT Market Size Worth USD 415.48 Billion by 2034 | CAGR: 35.5%

The global 5G IoT market size is expected to reach USD 415.48 billion by 2034, according to a new study by Polaris Market Research. The report “5G IoT Market Size, Share, Trends, Industry Analysis Report: By Component, Network Type (5G Standalone and 5G Non-Standalone), Organization Size, Type, End User, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Industry 4.0 represents the next phase in industrial automation, where advanced technologies such as IoT, AI, and robotics are integrated to optimize production processes. The adoption of 5G IoT in this sector is critical for enabling faster, more reliable, and efficient operations. Manufacturers can deploy real-time monitoring, automation, and predictive maintenance solutions with 5G's low latency and high data throughput. This results in greater operational efficiency and improved decision-making, as 5G connectivity supports continuous data flows from smart machines and devices across the production line. As a result, industries such as manufacturing are increasingly adopting 5G IoT technologies to streamline operations and support the digital transformation of their facilities. This, in turn, is driving the 5G IoT market expansion.

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Edge computing is a major enabler for the 5G IoT market growth as it facilitates the processing of data closer to where it is generated, reducing the need for data to be transmitted back to centralized cloud servers. Combined with 5G’s ultra-reliable, low-latency connectivity, edge computing allows for immediate data processing, which is essential for time-sensitive applications in industries such as healthcare, automotive, and manufacturing. By performing real-time analytics at the edge, organizations can reduce bandwidth usage, improve response times, and enhance overall system performance. Edge computing paired with 5G maximizes the value of IoT, allowing faster insights and decision-making at the device level as IoT devices generate massive amounts of data.

Top of FormKey Highlights of 5G IoT Market Report

• Based on end user, the manufacturing segment dominated the market in 2024, driven by its dependence on high-speed connectivity for automation and Industry 4.0 developments.
• Based on type, the wide-range IoT devices segment is expected to experience the highest growth rate during the forecast period due to the capability of wide-range IoT devices to support long-distance communication and large-scale IoT deployments.
• Asia Pacific dominated the 5G IoT market in 2024, driven by rapid 5G infrastructure rollout and significant government initiatives aimed at fostering digital transformation across key industries.
• North America is projected to be the fastest-growing region in the 5G IoT market, fueled by early 5G adoption and substantial investments in IoT infrastructure.
• A few global key market players include AT&T; British Telecommunications plc; Telefonaktiebolaget LM Ericsson; Huawei Technologies Co., Ltd.; Juniper Networks, Inc.; Nokia; Palo Alto Networks; Qualcomm Technologies, Inc.; Telefónica S.A.; Telenor IoT; Verizon; and Vodafone Idea Limited.

Polaris Market Research has segmented the 5G IoT market report on the basis of component, network type, organization size, type, end user, and region:

By Component Outlook (Revenue – USD Billion, 2020–2034)

• Hardware
• Platform
• Connectivity
• Services

By Network Type Outlook (Revenue – USD Billion, 2020–2034)

• 5G Standalone
• 5G Non-Standalone

By Organization Size Outlook (Revenue – USD Billion, 2020–2034)

• Large Enterprises
• Small and Medium Sized Enterprises

By Type Outlook (Revenue – USD Billion, 2020–2034)

• Short-Range IoT Devices
• Wide-Range IoT Devices

By End User Outlook (Revenue – USD Billion, 2020–2034)

• Manufacturing
• Healthcare
• Energy and Utilities
• Automotive and Transportation
• Supply Chain and Logistics
• Agriculture
• Government and Public Safety
• Others

By Regional Outlook (Revenue – USD Billion, 2020–2034)

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Vietnam
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Argentina
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa
  • Rest of Middle East & Africa

5G IoT Market Report Scope