The North American 5G IoT market is anticipated to grow significantly at a CAGR of 35.4% over the forecast period (2021-2027). The US and Canada are the key economies contributing to the growth of the North American 5G IoT market over the forecast period. The key aspect that drives the North American 5G IoT market growth includes rapid evolution in end-user industries such as healthcare, BFSI, manufacturing, retail, and other end-user industries. During the COVID-19 pandemic, the demand for healthcare facilities has been risen, for fulfilling that demand in real-time the 5G network advancement and installation is going to be done by major players.
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For instance, in February 2019, AT&T and VITAS Healthcare, the nation’s largest provider of end-of-life care, have initiated a study to see if combining 5G with virtual reality and augmented reality (VR and AR) might benefit hospitalized patients with chronic pain and anxiety. In the same month, AT&T has announced a partnership with VMware SD-WAN by VeloCloud to integrate 5G capabilities into its SD-WAN, allowing enterprises to gain new levels of network control. This game-changing combination could be the right for enterprises wishing to employ SD-WAN in conjunction with a high-speed, low-latency 5G network as their primary or secondary WAN connection type.
Further, in January 2019, AT&T, Inc has announced the partnership with Rush University Medical Center to construct the first 5G-enabled hospital in the US, for assisting in telemedicine advancement. AT&T announced that the technology will assist improve care at the Chicago hospital by speeding up network traffic and reducing latency. In February 2019, AT&T Stadium is the first 5G stadium in the US. 5G is expected to assist bring the next generation of connected entertainment to the stadium. Thus, the end-user industry development by using 5G standalone and non-standalone network, is to drive the growth of the region during the forecast period.
Market Coverage
- Market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
Segment Covered
- By Components
- By Networks
- By End-User Industry
Regions Covered
- North American
- Competitive Landscape- AT&T, Inc., Microsoft Corp., Qualcomm Inc., Sierra Wireless Inc., Verizon Enterprises Solutions, Inc., Google Inc., Splunk Inc., and T-Mobile USA, Inc., among others
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5G IoT Market – Segmentation
By Components
- Hardware
- Platform
- Connectivity
Ø Services
- Professional Services
- Managed Services
By Network
- 5G Standalone
- 5G Non-Standalone
By End-User Industry
- BFSI
- Manufacturing
- Healthcare
- Energy and Utilities
- Automotive and Transportation
- Government and Defense
- Residential
- Others End-User (Smart Building, Agriculture, and Education
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
