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.
Becky Nagel is the vice president of Web & Digital Strategy for 1105's Converge360 Group, where she oversees the front-end Web team and deals with all aspects of digital projects at the company, including launching and running the group's popular virtual summit and Coffee talk series . She an experienced tech journalist (20 years), and before her current position, was the editorial director of the group's sites. A few years ago she gave a talk at a leading technical publishers conference about how changes in Web browser technology would impact online advertising for publishers. Follow her on twitter @beckynagel.