5G IoT connections to surpass 100 million globally by 2026: Report
The global 5G IoT (Internet of Things) connections will reach 116 million by 2026, rising from just 17 million in 2023, a new report said on Tuesday. According to Juniper Research, the healthcare sector and smart city services will drive this 1,100 per cent growth over the next three years.
“5G will enable more efficient and dynamic healthcare provision that was not feasible with 4G or Wi-Fi. However, healthcare providers must first implement 5G in areas which provide a strong return on investment, most notably connected emergency services,” said Research co-author Olivia Williams.
The report forecasts that the healthcare and smart cities market will account for over 60 per cent of 5G IoT devices by 2026. Moreover, the report predicts that 5G networks will see significant growth in smart city services due to their low cost of deployment and ability to carry large amounts of data.
There will be over 60 million 5G smart city connections globally by 2026, and the report urges city-planning authorities to leverage 5G connectivity as high-bandwidth gateways. The report also discovered that transportation network monitoring, including road and rail networks, will be critical services that will necessitate 5G-enabled high-bandwidth cellular connectivity.
Meanwhile, the 5G smartphone market will expand by >70 percent YoY by the end of CY2023. The India smartphone market recorded more than 13X growth in its 5G shipments from the year of its initial introduction in 2020. According to Menka Kumari, Analyst- Industry Intelligence Group (IIG), CyberMedia Research (CMR), “From a mere 4 percent in CY2020 to a potential >45 percent market share in CY2023, 5G smartphones have definitely come a long way. In CY2022, close to 100 5G smartphones were launched in the India market. In 2023, we anticipate close to 75 percent of the new smartphones to be introduced in the India market to be 5G-capable.”
Samsung, OnePlus and Vivo led the India market in 5G smartphone shipments in CY2022. In the 5G Value for Money (Rs 10,000-25,000) price segment, Xiaomi and realme were the major contributors.
In CY2022, there was limited consumer demand due to prevailing macroeconomic conditions and relatively limited access to 5G networks. However, with the rapid introduction of 5G networks across Indian cities, there has been a growing consumer interest and awareness around 5G smartphones, as per research insights from CyberMedia Research (CMR). In CY2023, 5G smartphone shipments are expected to register >70 percent YoY growth.
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