Internet of Things

IoT and 5G: What to Expect in 2024

February 24, 2024

IoT and 5G: What to Expect in 2024

Introduction

The year 2024 will likely see continued growth and evolution in two key technological areas – the Internet of Things (IoT) and 5G networks. As IoT devices proliferate and 5G networks expand, the synergies between these two technologies will enable new capabilities and use cases. In this article, I explore the trajectory of IoT and 5G in the coming years and what developments we can expect to see in 2024.

Growth of IoT Devices and Applications

By 2024, there will be over 30 billion IoT devices deployed worldwide according to projections by IoT Analytics. The expansion of the IoT market will be driven by reduced costs and increased adoption across personal, commercial and industrial applications.

Some key trends that will shape IoT growth include:

Proliferation of smart home devices like smart speakers, appliances, sensors and security systems. Voice assistants like Alexa and Google Home will become more ubiquitous.
Adoption of IoT in manufacturing and industry through sensors, automation, asset tracking and more to optimize operations.
Wearables like smart watches, fitness trackers and medical devices will evolve with more sensors and connectivity.
Expansion of smart city infrastructure with connected lighting, traffic systems, water management and waste management.
Growth of connected vehicles with in-built sensors, cameras and communication capabilities. Autonomous vehicle capabilities will also improve.
Healthcare IoT like remote patient monitoring devices, asset tracking, implanted sensors etc will improve preventive care.
Rise of commercial IoT like smart retail, smart buildings and supply chain tracking to drive efficiency.

With this proliferation, 2024 will also see expansion of IoT platforms and system integrators to help organizations manage massive, complex IoT implementations securely.

5G Network Coverage and Capabilities

By 2024, 5G networks are forecast to serve over 1 billion connections according to the GSMA. 5G coverage will continue to grow in urban and suburban areas globally. The rollout and adoption of 5G will be shaped by a few key factors:

High-band millimeter wave 5G will provide super fast speeds of over 1 Gbps in dense urban pockets. But the coverage is limited.
Mid-band 5G in the 2-5 GHz range will balance speed and coverage. This will likely be the dominant form of 5G coverage.
Low-band 5G will provide wide-area, rural coverage by leveraging existing cellular bands. Speeds may be limited to 100-250 Mbps.
Smartphones will be the largest source of 5G demand. Devices like industrial routers, hotspots, laptops and tablets will also drive adoption.
Private 5G networks will gain some traction to serve campus areas, warehouses, ports and factories. This allows customized networks with greater control.
Network slicing and edge computing will evolve to enable specialized 5G services for IoT, low latency applications and network virtualization.

By 2024, the initial hype around 5G will settle into broader but stable growth. While coverage will improve, early challenges like infrastructure costs, spectrum availability and fragmentation of 5G networks globally will persist.

Synergies Between IoT and 5G in 2024

The maturation of 5G networks will act as a catalyst for unlocking the full potential of IoT and enabling more advanced use cases. Here are some key synergies we expect to see:

5G will enable massive scale and density of IoT deployments with its ability to support over 1 million devices per sq km.
Ultra low latency combined with edge computing will drive real-time automation and control in IoT. It also allows localized processing of data.
Network slicing will provide the flexibility to customize connectivity for different IoT applications – from autonomous vehicles to smart cities.
High speeds and bandwidth will enable the transfer of large volumes of data from industrial and commercial IoT deployments securely into the cloud.
5G will bring more mobility into the IoT realm by supporting connected vehicles, asset tracking, mobile robots in warehouses etc.
With 5G coverage, more urban IoT and smart city applications can be supported like real-time public safety, traffic management and upkeep of infrastructure.
For industrial IoT, private 5G networks combined with automation and robotics will enable massive transformation.

Key Challenges Ahead

While the outlook is positive, some key challenges remain for unlocking the true potential of the IoT-5G ecosystem:

Interoperability and standards are still fragmented in IoT limiting integration and plug-and-play capabilities.
Data privacy and security concerns will rise given the sensitivity of much IoT data and dependence on 5G connectivity.
There is a growing skills gap for organizations to build expertise in managing and deriving insights from complex IoT and 5G systems.
The energy efficiency and environmental impact of the proliferation of connected devices and 5G small cells will require sustained focus.
Affordability and marginalization – Developing nations may lag in adoption without subsidized infrastructure and cheap IoT/5G devices.
With billions more devices online, coordinating scarce radio spectrum will be crucial for avoiding signal interference issues.

The Road Ahead

In summary, 2024 is shaping up to be a pivotal year where we will see 5G coverage expand significantly while IoT proliferation enters a whole new phase. This will enable advanced use cases across industries, infrastructure and our daily lives. But technology is only one piece of the puzzle – overcoming adoption barriers, business model evolution, policy and socio-economic challenges are equally important to realize the full potential of this connected future. Nevertheless, it is an exciting time ahead for digitization powered by the IoT and 5G synergy.