5G IoT is a friendly ecosystem which has widely developed and advanced over the current capabilities. The idea behind IoT is to have multiple connected devices gathering data in real time over a particular period. 5G IoT endpoint is a physical computing device that performs a function or task as a part of an internet connected product or service such as wearable fitness device, an industrial control system, an automotive telematics unit or even a personal drone unit. The 5G IoT endpoints find applications in self-driving cars, healthcare, logistics, smart cities and retail.
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. The 5G IoT endpoint market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028. 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.
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.
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.
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 5G IoT endpoint market in the future.
Our in-depth analysis of the 5G IoT endpoint market includes the following segments:
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.
The market for 5G IoT endpoint in North America is anticipated to hold the largest share in the market on account of presence of leading market players in the region which provides and market 5G IoT endpoint. 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.
The 5G IoT endpoint market is further classified on the basis of region as follows:
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