Report: IoT To Help Drive 5G Services Market to $123 Billion by 2025
According to a recent study by research service ResearchAndMarkets.com, the worldwide market around 5G services will reach $53.9 billion in 2020 and $123.2 billion by 2026, thanks in part to the growth of connected Internet of Things (IoT) devices during this period.
The other significant factor in this growth will be "the rising demand for reliable and ultra-low latency connectivity services," the company said in an announcement of the report.
According to ResearchAndMarkets.com, North America will see some of the biggest growth in the use of 5G, thanks to investments -- some of which are already underway -- in 5G infrastructure.
The report forecasts the United States, United Kingdom, Japan, China, Germany and South Korea will be early adopters of 5G, stating that "[these] countries with strong 4G infrastructure would be the early deployrers...[and] would quickly transform their services into 5G, probably by the first quarter of 2020."
The full report is available for purchase here.
About the Author
Becky Nagel is the former editorial director and director of Web for 1105 Media's Converge 360 group, and she now serves as vice president of AI for company, specializing in developing media, events and training for companies around AI and generative AI technology. She's the author of "ChatGPT Prompt 101 Guide for Business Users" and other popular AI resources with a real-world business perspective. She regularly speaks, writes and develops content around AI, generative AI and other business tech. Find her on X/Twitter @beckynagel.