Outdoor surveillance cameras are to become the largest global market for 5G Internet of Things (IoT) solutions over the next three years, market researcher Gartner Inc said in a report on Thursday.
The number of 5G IoT installed endpoints for outdoor surveillance cameras would reach 2.5 million units next year, 6.2 million units in 2021 and 11.2 million units in 2022, the report said.
“Cameras deployed by city operators, or used to ensure building security and provide intruder detection, offer the largest addressable market as they are located outdoors, often across cities, and require cellular connectivity,” Gartner senior research director Stephanie Baghdassarian said in the report.
The automotive industry also has tremendous potential, as the number of 5G IoT installed endpoints for connected vehicles is expected to surpass the demand in the outdoor surveillance camera market by 2023, the US-based research firm added.
“The addressable market for embedded 5G connections in connected cars is growing faster than the overall growth in the 5G IoT sector,” Baghdassarian said.
“Commercial and consumer connected-car embedded 5G endpoints will represent 11 percent of all 5G endpoints installed in 2020 (393,000 units), and this figure will reach 39 percent by the end of 2023 (19.09 million units),” she said.
Gartner estimated that the total number of 5G IoT endpoint installed bases would more than triple from next year to 2021 — from 3.5 million units next year to 11.3 million units in 2021 and then 48.6 million units by 2023.
The number of 5G IoT endpoint installed bases for fleet telematics devices is also expected to increase from 4 percent of the overall 5G endpoints installed next year (135,000 units) to 11 percent by 2023 (5.15 million units).
In-vehicle toll devices also represent a growing segment, as the number of 5G IoT endpoint installed bases would increase from 50,000 units next year to 1.55 million units by 2023, or 1 percent to 3 percent of the market.
The number of 5G IoT endpoint installed bases for emergency services is expected to grow from 61,000 units next year to 1.18 million units by 2023, retaining a 2 percent market share.
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