5G IoT Market Expected to Hit $208.48 Billion by 2032

The 5G IoT market is on a rapid growth trajectory, projected to expand from $10.76 billion in 2023 to an impressive $208.48 billion by 2032, achieving a compound annual growth rate (CAGR) of 39.0% during the forecast period from 2024 to 2032. This surge is fueled by the increasing demand for smart, connected devices across various sectors, including healthcare, industrial automation, and smart cities.

The integration of 5G technology with IoT ecosystems is revolutionizing connectivity, enabling faster, more reliable communication essential for real-time data exchange. Key players in this market include China Mobile, AT&T, Verizon, and Vodafone, all contributing to innovations that enhance operational efficiency and drive digital transformation

Source: snsinsider.com