There will be 116 million 5G IoT connections worldwide by 2026, up from 17 million in 2023, according to a recent analysis by Juniper Research. The healthcare industry and smart city services are cited as the main drivers of this massive growth over the next three years.
The in-depth study looked at how 5G is being used in key industries, such as the auto industry, mobile broadband, and smart homes. It predicts that by 2026, more than 60% of 5G IoT devices will be used in healthcare and smart cities.
This explosion of additional connections will be propelled by 5G IoT’s ultra-low latency and high capacity.
The 5G Internet of Things has the greatest potential for use in smart cities
The report predicts that smart city services will use 5G networks a lot more because they are easy to set up and can carry a lot of data. By 2026, there will be over 60 million 5G smart city connections worldwide.
The report found that monitoring transportation networks, like road and rail networks, will be one of the most important services that will need high-bandwidth cellular connections for 5G.
Related read: 5G Service Revenue to Reach $315 Billion Globally in 2023
Digital Transformation in Healthcare Drives 5G Adoption
The global COVID-19 epidemic exposed inefficiencies in healthcare provision, and this realisation will spur healthcare investment in 5G-based services.
Telemedicine, connected emergency services, and real-time remote monitoring are just a few of the services benefiting from the introduction of 5G.
Related read: 5G Voice Users to Reach 2.5 Billion Globally by 2026; Voice Over 5G Enables New Business Services
Research co-author Olivia Williams commented: “5G will enable more efficient and dynamic healthcare provision that was not feasible with 4G or Wi-Fi.”
Another report by the leading Research and Markets estimated the global 5G IoT market could reach $17.68 billion by 2030, growing at a CAGR of 47.6% during the forecast period of 2023-2030.
However, high costs for 5G IoT network installation and security & data privacy concerns are creating challenges for market growth.
