A new study from Juniper Research makes noteworthy projections about the future of 5G in the American economy. The study, titled Cellular IoT: Strategies, Opportunities & Market Forecasts 2022-2026, predicts that the wireless Internet of Things (IoT) market will nearly double in revenue by 2026. Juniper Research predicts that low power wide area (LPWA) connections will comprise most of the IoT market growth, with strong growth also coming from 5G connections.
The study finds that "the
global value of the cellular IoT market will reach $61 billion by 2026; rising
from $31 billion in 2022." This is a 95% value increase. That growth will
come from two main areas: 5G and LPWA.
Juniper projects that 5G revenues will total roughly $9 billion in 2026, a strong 1000% growth from the roughly $800 million in 2021. Juniper noted "network slicing and edge computing" as important services for boosting 5G revenue growth during this period.
Juniper also projects that LPWA connections
will grow 1200% by 2026, fueled by low costs for connectivity and hardware. LPWA
adoption accounts for a larger portion of Juniper's predicted IoT market growth
than 5G. LPWA networks typically involve low-bandwidth devices connected to
low-power LTE. The advantage of LPWA networks is strong coverage over a geographic
area, including penetration of building walls, for low-bandwidth uses. An
example of a LPWA use case is a network of remote monitoring sensors, often useful for industries such as agriculture and manufacturing.
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