The global 5G Internet of Things (IoT) market was valued at USD 7.72 billion in 2024 and is expected to grow significantly to USD 89.42 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 50.3% from 2025 to 2030. This robust growth is primarily fueled by the core advantages of 5G technology, which include enhanced speed, reduced latency, and high-performance capabilities in essential operations like communication and data transmission.

The expanding integration of sensor technology across industries—particularly in automotive, industrial automation, and manufacturing—is contributing substantially to market growth. In recent years, IoT has demonstrated reliable functionality, leading to increased adoption across various sectors. When combined with the high-speed, low-latency features of 5G, IoT enables greater efficiency in machines, systems, and processes. Additionally, investments by governments and telecom providers to develop and expand 5G infrastructure further support the market’s expansion. As 5G networks become more widely available, large-scale deployments of IoT devices and supporting technologies are expected to rise rapidly during the forecast period.

Further growth is being driven by innovations and new product offerings from major telecom firms. For instance, TEAL (Teal Communications, Inc.) recently introduced an IoT eSIM featuring unlimited 5G data plans. This solution offers seamless access to Tier-1 networks in the U.S. and is positioned to play a major role in location-based IoT services.

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Key Market Trends & Insights

• Component Segment: The hardware segment led the market in 2024, capturing 44.3% of revenue share. This growth is due to continuous innovation and increasing investments aimed at leveraging 5G technology’s potential.
• IoT Connectivity: The massive IoT segment dominated in 2024. This segment benefits from the increasing number of connections among low-power, low-cost devices requiring minimal computational power and connectivity.
• Network Architecture: In 2024, the 5G non-standalone architecture held the largest market share. Its early deployment is attributed to the use of existing 4G infrastructure to enable 5G connectivity, expediting its rollout worldwide.

Market Size & Forecast

• 2024 Market Size: USD 7.72 Billion
• 2030 Projected Market Size: USD 89.42 Billion
• CAGR (2025–2030): 50.3%
• Leading Region: Asia Pacific was the largest regional market in 2024.

Key Companies & Market Share Insights

Leading players in the 5G IoT space include Nokia Corporation, AT&T INC., ZTE Corporation, Verizon Communications Inc., and Huawei Technologies Co., Ltd., among others. These companies are increasingly adopting strategic initiatives such as product innovation, partnerships, and advanced technology integration to remain competitive and meet rising demand for IoT-enabled solutions.

• AT&T INC. offers a comprehensive range of services, including Internet, wireless, and media, with a focus on 5G eSIM and IoT edge solutions.
• Nokia Corporation delivers B2B technology innovations with a strong emphasis on 5G and IoT infrastructure, including WING and 5G RedCap technologies.

Leading Companies in the 5G IoT Market

• Nokia Corporation
• TELEFONAKTIEBOLAGET LM ERICSSON
• ZTE Corporation
• AT&T INC.
• Huawei Technologies Co., Ltd.
• Verizon Communications Inc.
• Thales Group
• Vodafone Group Plc.
• China Mobile Limited
• Microsoft Corporation

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Conclusion

The 5G IoT market is undergoing rapid expansion, supported by the convergence of high-speed 5G networks and the increasing capabilities of IoT technology. With a projected CAGR of 50.3% through 2030, the market is poised for substantial transformation across industries. Key trends such as advancements in hardware, the rise of massive IoT applications, and the early adoption of non-standalone networks are driving this momentum. Coupled with strategic investments by telecom giants and infrastructure development efforts by governments, the 5G IoT sector is on track to redefine digital connectivity and operational efficiency across the global economy.