The North American 5G IoT market is projected to grow at a considerable CAGR of 35.4% during the forecast period (2021-2027). The key aspect that drives the growth of the market includes the rise in various end-user industries such as manufacturing, smart cities, industrial, BFSI, and others, and strategies adopted by the major players in the regions for the industry expansion. The increasing demand for wireless networks with high-speed, post-COVID-19 pandemic has insisted major players adopt strategies such as developing Industry 4.0 by establishing 5G network solutions.

For instance, in December 2020, Samsung and IBM have announced plans to work together to accelerate Industry 4.0 by developing innovative enterprise mobile edge computing and private 5G network solutions for Samsung's 5G-enabled Galaxy devices. The partners also stated that the partnership had made use of IBM's artificial intelligence-driven industry solutions and Red Hat's open architecture. The transition to standalone 5G has hastened the deployment of IIoT solutions and necessitated the deployment of an edge computing strategy that allows organizations to manage their IT infrastructure from any location.

North American 5G IoT market is segmented based on components, networks, and the end-user industry. Based on the components, the market is segmented as hardware, platform, connectivity, and services. Based on the network, the market is segmented into 5G standalone, and 5G non-standalone. Apart from it, based on the end-user industry, the market is classified into BFSI, manufacturing, healthcare, energy and utilities, automotive and transportation, government and defense, residential, and others. 

Based on the demographic viewpoint, the North American 5G IoT market has been segmented into the US and Canada. The US is likely to hold a major share in the North American 5G IoT market over the forecast period. The factors that are driving the growth of the country are the presence of major players and their innovations. Further, 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 are some of the prominent players functioning in the North American 5G IoT market. New product launches & developments, partnerships, agreements, and acquisitions are some of the growth strategies adopted by the players in order to sustain in the highly competitive market. For instance, in February 2019, AT&T tested a new software update on a live commercial 5G+ network, achieving speeds of over 1.5 Gbps. A mobile form factor test device was used to conduct this test in the field.

RESEARCH METHODOLOGY

The market study of the North American 5G IoT market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.

Secondary sources include:

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog

The report is intended for 5G IoT solution provider companies, research institutes and universities, other related companies, and government organizations for overall market analysis and competitive analysis. The report provides an in-depth analysis of the market size and growth opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.

Market Segmentation:

1. North American 5G IoT Market Research and Analysis by Components
2. North American 5G IoT Market Research and Analysis by Network
3. North American 5G IoT Market Research and Analysis by End-User Industry

The Report covers:

• Comprehensive research methodology of the North American 5G IoT market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the North American 5G IoT market.
• Insights about market determinants which are stimulating the North American 5G IoT market.
• Detailed and extensive market segments with regional distribution of forecast revenues.
• Extensive profiles and recent developments of the market players.