News Details

Automotive Industry To Become Biggest Market for 5G IoT in 2023: Report

  • The automotive industry will represent 53 per cent of the overall 5G IoT endpoint opportunity in 2023
  • Within the automotive sector, embedded connected-car modules are the major use case for 5G
  • The share of 5G-connected cars actively connected to a 5G service will grow from 15 per cent in 2020 to 74 per cent in 2023

According to a recent report by Gartner, the automotive industry will become the largest market opportunity for 5G IoT solutions in 2023. It will represent 53 per cent of the overall 5G IoT endpoint opportunity in that year.

Key findings

The report stated that within the automotive sector, embedded connected-car modules are the major use case for 5G. Embedded endpoints in connected cars for commercial and consumer markets will represent an installed base of 19.1 million units out of a total of 25.9 million 5G endpoints in the automotive sector in 2023.

It also projected that the share of 5G-connected cars actively connected to a 5G service will grow from 15 per cent in 2020 to 74 per cent in 2023. This figure will reach 94% in 2028 when 5G technology will be used for Cellular V2X communications that allow messages to be sent and received within vehicles and between vehicles, infrastructure, pedestrians and cyclists.

“The addressable market for embedded 5G connections in connected cars is growing faster than the overall growth in the 5G IoT sector,” said Stephanie Baghdassarian, senior research director at Gartner.

Baghdassarian added, “Commercial and consumer connected-car embedded 5G endpoints will represent 11 per cent of all 5G endpoints installed in 2020, and this figure will reach 39 per cent by the end of 2023.”

Source: https://www.electronicsb2b.com