5G Americas and Omdia have released the latest data on the adoption of Internet of Things (IoT) and 5G technologies.
Globally, 5G network deployments have reached 329 commercial 5G networks in the second-quarter as compared with 316 5G networks in the first-quarter. This compares with 314 5G networks in Q4 2023, 296 in Q3 2023, 287 in Q2 2023 and 267 in Q1 2023.
Global telecoms added 192 million 5G connections to reach 2.1 billion at the end of second-quarter in 2024. 5G connections are projected to reach 8.6 billion by 2029, accounting for 59 percent of all wireless cellular networks.
As 4G LTE-connected IoT devices transition to 5G-enabled technologies, such as 5G RedCap, energy and network efficiency improvements are expected to push IoT subscriptions to 5.2 billion by 2029.
“Enterprise and business cases are emerging that showcase 5G’s versatility across a range of uses, utilizing Internet of Things-connected devices,” Viet Nguyen, Vice President of PR and Technology at 5G Americas, said.
In North America, 5G connections totaled 242 million, registering 11 percent growth. North America’s 5G connections are forecast to reach 761 million, comprising 84 percent of wireless technologies, by 2029.
Kristin Paulin, Omdia’s principal analyst, noted that North American operators continue to expand their 5G capabilities, focusing on mid-band spectrum and 5G standalone technologies, which enable advanced features like network slicing.
In Latin America, 5G connections reached 57 million, a 21 percent growth. Latin America has 592 million 4G LTE connections, representing 74 percent of all wireless technologies.
Globally, 5G network deployments have reached 329 commercial 5G networks in the second-quarter as compared with 316 5G networks in the first-quarter.
IoT
The number of IoT subscriptions has reached 3.4 billion in Q2 2024. IoT subscriptions are expected to reach 5.2 billion in 2029.
Meanwhile, Omdia’s IoT Enterprise Survey indicates 95 percent of enterprises are expecting measurable benefits from IoT within two years of deployment. The survey, conducted across nearly 600 enterprises from ten countries and eight industries, highlights the growing role of IoT in driving productivity gains, cost savings, and improved worker safety.
“IoT is maturing, and its integration with artificial intelligence (AI) is accelerating business intelligence for enterprises of all sizes,” said John Canali, IoT Principal Analyst at Omdia. “We’re seeing meaningful changes as companies leverage IoT deployments to enhance their operations.”
Omdia warns vendors and businesses to avoid adding unnecessary complexity to their IoT strategies. As IoT technologies evolve, communication service providers (CSPs) are encouraged to improve educational efforts, helping enterprises better navigate and optimize their IoT implementations.
A key takeaway from the survey is the increase in IoT investment, with 56 percent of companies spending over $1 million on IoT in 2024, up from 36 percent in 2023.
Baburajan Kizhakedath
