5G IoT Endpoint Industry - Regional Scope
North America Market Forecast
The North America 5G IoT endpoint market is projected to hold a leading revenue share of 40.3% by the end of 2037. Key factors cementing North America’s leading revenue share is the region being a hotbed of technological innovation in connectivity solutions and surging investments from the private sector. Led by the U.S. corporations, such as Qualcomm, Intel, Cisco, etc., investments have been rife in enabling smart factory systems as well as connected healthcare applications across the region. The trend creates lucrative opportunities within the market by driving the demand for 56 IoT endpoints that can enable automation in mission-critical sectors.
The U.S. 5G IoT endpoint market is poised to maintain its leading revenue share in North America. A key factor supporting the lucrative share of the U.S. market is the surging integration of 5G and IoT in sectors such as automotive and healthcare. For instance, autonomous vehicles are set to be the future of mobility, bolstering the adoption rate of 5G IoT endpoints throughout the forecast timeline. In terms of regulatory support, the U.S. government has played a pivotal role in bolstering the 5G infrastructure across the country through the National 5G Strategy, creating a rife ecosystem to provide next-generation of solutions for mission critical sectors.
APAC Market Forecast
The APAC 5G IoT endpoint market is projected to register the fastest expansion, rising at a CAGR of 22.3% throughout the forecast period. A major driver of the market is the wide-spread deployment of 5G across numerous economies, creating a lucrative ecosystem for the 5G IoT endpoint sector’s growth. Additionally, multiple economies within APAC have intensified the drive for nationwide digitalization, creating ample opportunities for deployment of 5G IoT endpoints to connect devices. In terms of regionwide regulatory ecosystem, the Regional Comprehensive Economic Partnership (RCEP) has facilitated technology transfer in inter-Asian markets, particularly in urban IoT systems in Singapore and Malaysia. A convergence of factors such as the catalyzing of cross-border supply chains and improved regional economic integration ensures APAC remains the fastest growing market for 5G IoT endpoints.
The India 5G IoT endpoint market is projected to expand its revenue share during the forecast period. The India market remains one of the most dynamic for 5G IoT endpoints, with major nationwide initiatives such as the Digital India initiative and the National Broadband Mission central to the country’s sustained push to deploy 5G infrastructure in rural as well as urban areas. A vital feature of the market in India is the large percentage of tech-savvy population along with the heightened penetration of mobile internet. This feature has ensured that 5G remains key in improving connectivity whilst the demand for wearable IoT devices have grown significantly in the current decade. Within the domestic market, states such as Tamil Nadu and Maharashtra have successfully deployed IoT-based urban management systems, paving the way for usage in tier-2 cities across the country. This is expected to create a sustained demand for 5G IoT endpoints in India.
