The telecommunications sector continues its rapid expansion with significant advancements in 5G and the Internet of Things (IoT). Recent data highlights a robust increase in global IoT subscriptions and 5G connections, underpinning the industry’s growth trajectory. Innovations in 5G technology, such as 5G RedCap, are driving efficiency and expanding applications beyond smartphones.
Data from previous years showed steady growth in IoT and 5G adoption. The latest figures indicate an accelerated pace, reflecting increased investment and technological improvements. This upward trend suggests that the industry is moving towards a more interconnected and efficient future.
Global IoT and 5G Subscriptions on the Rise
Global IoT subscriptions have reached 3.4 billion, with forecasts projecting a rise to 5.2 billion by 2029. Smartphone subscriptions are also expected to grow to 8.2 billion within the same period. The transition from 4G LTE to 5G-enabled IoT technologies enhances energy and network efficiency, benefiting network operators worldwide.
North America Leads 5G Adoption
“The market is realizing 5G networks are more than just smartphones. Enterprise and business cases are emerging that showcase 5G’s versatility across a range of uses, utilizing Internet of Things-connected devices like sensors, cameras, and many more solutions in both public and private 5G networks.”
In North America, 5G connections totaled 242 million in Q2 2024, representing 34% of all wireless cellular connections. An addition of 23 million new 5G connections occurred this quarter, with projections estimating 761 million by 2029. This growth signifies that 5G will constitute 84% of all wireless cellular access technologies in the region.
Latin America Shows Steady Growth in 5G
Latin America added three million new 4G LTE connections, totaling 592 million, which accounts for 74% of all wireless cellular access technologies. Additionally, ten million new 5G connections were introduced, bringing the total to 57 million and reflecting a consistent 21% growth rate. This expansion highlights the region’s commitment to adopting advanced wireless technologies.
Advancements in 5G infrastructure are outpacing those of 4G LTE, with 329 commercial 5G networks deployed worldwide as of September 2024. Continued investments are expected to further boost the deployment of 5G networks, enhancing connectivity and supporting the growing demand for high-speed internet and IoT applications.
The sustained growth in both 5G and IoT sectors underscores the critical role these technologies play in modernizing communication infrastructures. As 5G networks become more widespread, they enable a plethora of applications that drive economic and technological progress. Stakeholders in the telecommunications industry are poised to leverage these advancements to foster innovation and improve network performance globally.
