The market research firm expects sales of 4G IoT modules to peak within two years, where sales of 5G modules will commence in 2019, reaching an inflection point in 2024 as they outsell 4G modules. The automotive vertical market will remain the single largest consumer of IoT cellular modules across the forecast period, but will significantly increase its market share position by 2025.
Andrew Brown, Executive Director of Enterprise and IoT Research at Strategy Analytics, said "While massive machine type communications will not be in the first release of the 5G standard, critical IoT components of the standard – such as ultra-low latency and high reliability – will be standardized in the first release and completed by 2018."
Matt Wilkins, Senior Analyst IoT Research at Strategy Analytics added, "The transition in dominant air interfaces in IoT is part of the ebb and flow of technology in IoT, from 3G dominance, to 4G and on to 5G. The benefits of 5G, such as low latency and long modem battery life, open up possibilities for IoT cellular devices, enabling use cases such as remote surgery providing the surgeon with the sense of touch as well as real-time video in Healthcare."