With 5G penetration set to pick up in a year or two, this could enable the global IoT market to expand. Emerging 5G network is likely to accelerate IoT module shipments to more than 1.2 billion units by 2030, with a compound annual growth rate (CAGR) of 12 per cent as per the Counterpoint Research‘s newest Global Cellular IoT Module Forecast. During the period 2022-2030, 5G will be the fastest-growing technology (60 per cent), followed by 4G Cat 1.
Physical items with sensors, computing power, software, and other technologies that link and share data with other devices and systems across communications networks like the internet are IoTs. Smart light bulbs and refrigerators are examples of Internet of Things gadgets. According to Counterpoint, cumulative 5G shipments (excluding 5G RedCap) will reach 2.5 billion devices by 2030, representing a 60 per cent CAGR.
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5G to Boost IoT Module Sales
According to the report, the worldwide cellular IoT industry will move from 4G to 5G in the coming years. In the Internet of Things market, this transformation will be faster than the change from 2G/3G to a low-power wide-area network (LPWA)/4G. In the worldwide cellular module market, 5G will be the most popular technology. It will be followed by narrow band-IoT and 4G Cat 1.
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Talking about the dynamic nature of the market, Soumen Mandal says, “2G, 3G networks are phasing out over the world. Due to this, most demand has shifted to LPWA, 4G Cat 1, and 4G Cat 1 bis technologies now. In sections of Asia, particularly China, and Europe, NB-IoT will continue to be popular. Whereas, 4G Cat-1-based modules will grow in the next years.”
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According to the research organisation, industries will witness the deployment of 6G technology for the Internet of Things before the end of the decade. However, in the early years, this will be confined to high-end applications such as business and broadband.
