'Internet of Things are a Major Component of Wireless Cellular Success'

A recent survey revealed that the wireless telecommunications industry experienced continued robust expansion in the second quarter of 2024, driven by the ongoing growth of the Internet of Things (IoT) ecosystem.

The report from 5G Americas, an industry trade organization comprising leading telecommunications service providers and manufacturers, and Omdia, found that global IoT subscriptions currently stand at 3.4 billion, alongside 6.7 billion smartphone subscriptions.

As 4G LTE-connected IoT devices are upgraded to flexible 5G-enabled IoT technologies, such as 5G RedCap (Reduced Capability), new enhancements offer network operators benefits like improved energy and network efficiency.

Due to these advancements, global forecasts suggest IoT subscriptions will reach 5.2 billion, while smartphone subscriptions are expected to surge to 8.2 billion by 2029, according to 5G Americas officials.

Overall, in Q2 2024, the global adoption of 5G connections surpassed two billion, with an addition of 192 million new global connections. Looking ahead, Omdia data indicates that global 5G connections will reach 8.6 billion by 2029. As a share of all wireless cellular technologies, 5G is projected to account for 59 percent of global access networks by 2029.