A new report released Monday showed that global cellular internet-of-things (IoT), module shipments will likely exceed 1.2 billion units by 2030, with a compound annual rate of growth (CAGR) at 12 percent.
According to Counterpoint Research, 5G is expected to surpass 4G in 2028 and become the most popular technology on the global cellular IoT market.
China is the leader in global 5G IoT module adoption.
The report stated that North America as well as Europe have tremendous potential for the future.
Neil Shah, Vice President Research, stated that 5G adoption in emerging markets like India or Latin America will grow faster. In these areas, 5G RedCap could become more popular.
According to the report, 5G cumulative shipments (not including 5G RedCap), will exceed 2.5 billion units. This is a 60% increase in CAGR between 2022-2030.
In terms of shipments, smart meter, industrial router/CPE and automotive will be the top five applications by 2030.
Soumen Mandal, senior research analyst, stated that 5G will be introduced and 5G RedCap introduced in the coming years. This will allow 5G to be adopted across intelligent IoT segments in industrial, asset tracking and POS. It will mostly replace traditional 4G IoT apps.
We should see 6G technology in IoT by the end of the decade.
Mandal stated that 6G would be restricted to high-end applications like enterprise and broadband during the first years of adoption.