The global 5G IoT market size was US$ 1.9 billion in 2021. The global 5G IoT market is forecasted to grow to US$ 61.2 billion by 2030 by registering a compound annual growth rate (CAGR) of 79.1% during the forecast period from 2022 to 2030. 
5G is expected to reshape the scope of the IoT industry. 5G IoT networks are expected to fulfil the demands of narrowband and higher-bandwidth IoT devices.

Factors Influencing the Market
Increased manufacturing demand and use of this technology would result in robust networks and safe connections for Industrial IoT. Moreover, it will also add safety to the network. Apart from that, the rising demand for processing sensor data, evaluating, and real-time monitoring of business operations will escalate the demand for 5G IoT in the coming years. The market may also benefit from wide applications of IoT in manufacturing, automotive, energy, healthcare, public safety, and other industrial verticals. 
Over the projection period, there will likely be an increase in demand for 5G IoT devices as autonomous vehicles move from testing to commercial implementation. At the same time, established players in the energy and utility sectors are eager to adopt cutting-edge technologies to streamline the processes. Government bodies are also adopting advanced technologies to save crucial data. All of these factors will significantly fuel the growth of the market during the forecast period. 
On the flip side, high investment costs and government regulations may limit the growth of the 5G IoT market during the study period.

Regional Analysis
Asia-Pacific is witnessing a significant change in terms of how emerging technology is being applied across many businesses. There is a strong potential for the adoption of 5G IoT services due to the growing deployment of 4G and 5G networks throughout APAC, particularly in China, India, Singapore, Japan, and South Korea. The region's substantial mobile subscriber base has led to an increase in corporate innovation and a focus on high-quality customer service. As a result, it will drive the growth of the 5G IoT market in the region during the study period.

COVID-19 Impact Analysis
The COVID-19 pandemic is forecasted to have a long-term positive impact on the 5G IoT market as enterprises have started adopting smart solutions to save their crucial data and work smartly. However, the industry was significantly hit by the obstacles majorly during the initial phase. It is owing to the shortage of professional skill force and slow investments in the sector.

Competitors in the Market
• Airtel India
• Vodafone Limited
• China Mobile Limited
• Nokia
• Deutsche Telekom AG
• SAMSUNG
• Vodafone Limited
• Intel Corporation
• AT & T Intellectual Property
• Other Prominent Players

Market Segmentation
The global 5G IoT market segmentation focuses on Network, End-User, and Region. 
By Network type:
• 5G Standalone (SA)
• 5G Non-standalone (NSA)
By End-user:
• Manufacturing
• Healthcare
• Energy and Utilities
• Automotive and Transportation
• Supply Chain and Logistics
• Government and Public Safety
• Agriculture
• Others
By Regional Outlook
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America