The 5G IoT & Private 5G Market Report 2024 – 2030 represents the ongoing coverage of IoT hardware and connectivity. The information presented in this report is based on the results of primary and secondary research conducted by IoT Analytics team between September 2023 and May 2024. The document includes definitions for Public 5G, Private 5G, deployment models for 5G networks, as well as the components involved in deploying RAN and Core, market projections, adoption drivers, competitive landscapes, key trends and developments, use cases, and case studies.
To ensure the accuracy of the market model and the forecast, IoT Analytics conducted in-depth direct exchanges and alignments with 75+ experts in the field, attended key conferences (e.g., MWC 2024 and Embedded World 2024), and conducted corresponding interviews. Individual data points from 78 companies were analyzed, including 36 IoT module vendors, 16 IoT chipset companies, 21 network operators, and 5 network infrastructure companies. Aggregated estimates of 50+ niche players were also added.
5G IoT & Private 5G Market. In 2023, public 5G IoT connections dominated the market with 95% of the global 5G IoT connections. Private 5G is rising, projected to grow with a double-digit CAGR. Public 5G will remain the majority due to its cost-effectiveness and accessibility, while private 5G caters to niche markets like manufacturing and healthcare. Public 5G revenues are set to overtake private 5G by 2025. The 5G IoT module market is expected to grow 6.6 times from 2023 to 2027, led by Chinese vendors. Similarly, the 5G IoT chipset market is projected to grow by 2.8 times from 2023 to 2027. Quectel and Qualcomm dominate the module and chipset markets, respectively, while Huawei leads in the global 5G network infrastructure market. Key players like Ericsson, Nokia, and Siemens are developing new technologies and strategies to enhance 5G applications and infrastructure.
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