“There is no simple answer to this question,” argues an article at EE Times. At least, not yet…

Slashdot reader dkatana shares their report:
For most industrial IoT applications, the question remains: Do I need 5G for my IoT connections? It depends on the connectivity, the devices, and many other factors. First, does the project need cellular connectivity? There are several wireless low-power wide-area networks (LPWANs) using different radios that can be used without incurring the cost of cellular connections. Other wireless technologies such as LoRaWAN and Sigfox offer massive IoT connectivity for local and wide-area applications with low power consumption. For example, connecting hundreds or thousands of sensors in agriculture can be achieved over an existing Sigfox or LoRaWAN network. Those sensors usually do not require the bandwidth or enhanced security of cellular networks. Additionally, most cellular connections use licensed spectrum, which is additional cost carriers need to transfer to customers.

One reason to invest in 5G connectivity for IoT is that operators are shutting down legacy 2G and 3G networks worldwide. In the past 30 years, hundreds of thousands of Machine-to-Machine (M2M) devices have been deployed using 2G networks. Those are utility meters, alarm systems, and basic sensors that use SMS and GPRS/EDGE for communication. In 2017, AT&T announced that they will start shutting down 2G networks to free up the spectrum for LTE and the upcoming 5G radios. Additionally, Verizon Wireless phased out its 2G CDMA network in the US at the end of 2020; Sprint sunsetted its 2G CDMA network in December of 2021; and T-Mobile plans to sunset its 2G network in December of 2022.
The existing connections are now living on borrowed time.
Like 2G, many carriers are eager to sunset older 3G networks so that they can repurpose that spectrum to support 4G LTE and 5G.

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Source:: Slashdot