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5G Industrial IOT Market Share, Opportunities, Industry 2031

5G Industrial IOT Market

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Segments - by Components (Services, Solutions, and Hardware), Applications (Emergency & Incident Management, & Business Communication, Automation Control and Management, Real-Time Workforce Tracking & Management, Logistics & Supply Chain Management, Asset Tracking & Management, Business Process Optimization, and Predictive Maintenance), Organization Size (Large Enterprises and SMEs), End-users (Discrete Industries and Process Industries), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 - 2024

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Report Description

5G Industrial IOT Market Outlook 2031:

The 5G industrial IOT market size was valued at USD 1.02 Billion in 2022 and is projected to reach USD 9.41 Billion by 2031, expanding at a CAGR of 28% during the forecast period 2023 - 2031. The growth of the market is attributed to rising demand for networks with high reliability and low latency in manufacturing industries.

The term "Industrial Internet of Things" (IIoT) refers to applications in the industrial sector. Technologies including machine-to-machine communication, big data, machine learning, and industrial IoT are advancing and giving enterprises better operational efficiencies and dependability.

Industrial IoT enables manufacturers to automate their processes, reduce production and mistake rates, and enhance safety. The integration of a 5G network to industrial IoT offers advantages such as optimization and security. All of these factors have prompted businesses in the manufacturing sector to start embracing the 5G industrial IoT market.

Every industry, including the private, public, and industrial sectors, has experienced severe disruption as a result of the COVID-19 pandemic. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.

Manufacturing organizations were forced to use remote working options in order to ensure business continuity due to the COVID-19 pandemic. A fast network, like 5G, is required for remote working across several regions in order to experience increased connectivity and better performance.

5G Industrial IOT Market Trends, Drivers, Restraints, and Opportunities

Rising demand for networks with high dependability and low latency in manufacturing industries is projected to drive the market.
5G networks have 50 times less latency than 4G networks, which is anticipated to boost the market in the coming years.
Lack of huge capital investment is estimated to hinder the market growth.
Increasing demand for private 5G networks across manufacturing sectors is expected to create lucrative opportunities for the market players during the forecast period.

Scope of 5G Industrial IOT Market Report

The report on the global 5G industrial IOT market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	5G industrial IOT Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023 – 2031
Segmentation	Components (Services, Solutions, and Hardware), Applications (Emergency & Incident Management, & Business Communication, Automation Control and Management, Real-Time Workforce Tracking & Management, Logistics & Supply Chain Management, Asset Tracking & Management, Business Process Optimization, and Predictive Maintenance), Organization Size (Large Enterprises and SMEs), End-users (Discrete Industries and Process Industries)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Qualcomm Technologies, Inc.; Verizon; Cisco Systems; Ericsson; Nokia; Huawei; Cisco; AT&T; IBM Corporation; Microsoft; Seimens; Verizon; Intel Corporation; Intel Corporation; Microsoft Corporation; Huawei Technologies Co., Ltd.; Siemens AG; and Honeywell International Inc.

5G Industrial IOT Market Segment Insights

Components Segment Analysis

Based on components, the market is segregated into services, solutions, and hardware. The hardware segment is projected to hold a major market share during the forecast period. The 5G IoT module is one of the key elements in the hardware segment due to the increasing demand for 5G industrial IoT.

Both component and module manufacturers are spending money on R&D while also taking into account chipsets for specialized uses in the production processes. Suppliers are working on various other advancements in addition to creating 5G modules, including changes that reduce device size and methods for module integration.

Applications Segment Analysis

On the basis of applications, the market is fragmented into emergency & incident management, & business communication, automation control and management, real-time workforce tracking & management, logistics & supply chain management, asset tracking & management, business process optimization, and predictive maintenance.

The real-time workforce tracking & management segment is anticipated to expand at a high CAGR during the forecast period. The identification, deployment, and validation of individuals as well as the management and real-time communication with them are all possible through real-time workforce tracking and management for manufacturing companies.

5G technology has the ability to bring transformation with regard to workforce management and the workplace. Workplaces might become more effective, transparent, secure, and productive with the help of 5G and an IoT-enabled connected worker solution.

Organization Size Segment Analysis

In terms of organization size, the market is divided into large enterprises and SMEs. The large enterprise segment is expected to grow at a rapid pace during the forecast period. Large businesses are increasingly in need of 5G industrial IoT solutions and services to effectively manage their numerous assets deployed across numerous locations.

Compared to SMEs, the adoption of 5G industrial IoT solutions and services is substantially higher in large organizations. Growth of the segment is attributed to low cost and high economies of scale, which allow them to use 5G industrial products and services.

End-Users Segment Analysis

Based on end-users, the market is bifurcated into discrete industries and process industries. The discrete industries segment accounted for a key market share. Discrete industries as associated with the production and manufacturing of customized items such as airplanes, smartphones, toys, furniture, and furniture.

Smart linked goods with IoT capabilities offer a method to improve product functioning and produce more value for consumers in discrete sectors. Discrete manufacturers can boost their production due to the 5G technology's increased total bandwidth and ability to connect a large number of IoT devices.

Regional Analysis

On the basis of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to dominate the global 5G industrial IOT market. It is a diverse region with many different nations undergoing digital change.

The Asia Pacific is expected to dominate blockchain, edge computing, 5G, and 5G core technologies due to its size, culture, and strategic initiative taken by nations like South Korea, Singapore, Japan, Australia, and China.

Segments

The global 5G industrial IOT market has been segmented on the basis of

Components

Services
Solutions
Hardware

Applications

Emergency & Incident Management, and Business Communication
Automation Control & Management
Real-Time Workforce Tracking & Management
Logistics & Supply Chain Management
Asset Tracking & Management
Business Process Optimization
Predictive Maintenance

Organization Size

Large Enterprises
SMEs

End-users

Discrete Industries
Process Industries

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Qualcomm Technologies, Inc.
Verizon
Cisco Systems
Ericsson
Nokia
Huawei
Cisco
AT&T
IBM Corporation
Microsoft
Seimens
Verizon
Intel Corporation
Intel Corporation
Microsoft Corporation
Huawei Technologies Co., Ltd.
Siemens AG
Honeywell International Inc.

Competitive Landscape

Key players competing in the 5G industrial IOT market include Qualcomm Technologies, Inc.; Verizon; Cisco Systems; Ericsson; Nokia; Huawei; Cisco; AT&T; IBM Corporation; Microsoft; Seimens; Verizon; Intel Corporation; Intel Corporation; Microsoft Corporation; Huawei Technologies Co., Ltd.; Siemens AG; and Honeywell International Inc.

Some of these players are using several market strategies such as acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares.

In February 2020, Cisco made improvements to its IoT portfolio, enabling its service provider partners to offer improved management of cellular IoT environments and fresh 5G use cases.

In January 2020, Ericsson and Ooredoo Group entered into a five-year strategic 5G agreement, in order to provide 5G radio, core, and transport equipment and solutions as well as related implementation and integration services.

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. 5G Industrial IOT Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. 5G Industrial IOT Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. 5G Industrial IOT Market - Supply Chain
  4.5. Global 5G Industrial IOT Market Forecast
     4.5.1. 5G Industrial IOT Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. 5G Industrial IOT Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. 5G Industrial IOT Market Absolute $ Opportunity
5. Global 5G Industrial IOT Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. 5G Industrial IOT Market Size and Volume Forecast by Applications
     5.3.1. Emergency & Incident Management, and Business Communication
     5.3.2. Automation Control & Management
     5.3.3. Real-Time Workforce Tracking & Management
     5.3.4. Logistics & Supply Chain Management
     5.3.5. Asset Tracking & Management
     5.3.6. Business Process Optimization
     5.3.7. Predictive Maintenance
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global 5G Industrial IOT Market Analysis and Forecast by End Users
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by End Users
     6.2.2. Y-o-Y Growth Projections by End Users
  6.3. 5G Industrial IOT Market Size and Volume Forecast by End Users
     6.3.1. Discrete Industries
     6.3.2. Process Industries
  6.4. Absolute $ Opportunity Assessment by End Users
  6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global 5G Industrial IOT Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. 5G Industrial IOT Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global 5G Industrial IOT Demand Share Forecast, 2019-2026
8. North America 5G Industrial IOT Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America 5G Industrial IOT Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America 5G Industrial IOT Market Size and Volume Forecast by Applications
     8.4.1. Emergency & Incident Management, and Business Communication
     8.4.2. Automation Control & Management
     8.4.3. Real-Time Workforce Tracking & Management
     8.4.4. Logistics & Supply Chain Management
     8.4.5. Asset Tracking & Management
     8.4.6. Business Process Optimization
     8.4.7. Predictive Maintenance
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. North America 5G Industrial IOT Market Size and Volume Forecast by End Users
     8.7.1. Discrete Industries
     8.7.2. Process Industries
  8.8. Basis Point Share (BPS) Analysis by End Users
  8.9. Y-o-Y Growth Projections by End Users
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America 5G Industrial IOT Demand Share Forecast, 2019-2026
9. Latin America 5G Industrial IOT Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America 5G Industrial IOT Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America 5G Industrial IOT Market Size and Volume Forecast by Applications
     9.4.1. Emergency & Incident Management, and Business Communication
     9.4.2. Automation Control & Management
     9.4.3. Real-Time Workforce Tracking & Management
     9.4.4. Logistics & Supply Chain Management
     9.4.5. Asset Tracking & Management
     9.4.6. Business Process Optimization
     9.4.7. Predictive Maintenance
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Latin America 5G Industrial IOT Market Size and Volume Forecast by End Users
     9.7.1. Discrete Industries
     9.7.2. Process Industries
  9.8. Basis Point Share (BPS) Analysis by End Users
  9.9. Y-o-Y Growth Projections by End Users
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America 5G Industrial IOT Demand Share Forecast, 2019-2026
10. Europe 5G Industrial IOT Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe 5G Industrial IOT Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe 5G Industrial IOT Market Size and Volume Forecast by Applications
     10.4.1. Emergency & Incident Management, and Business Communication
     10.4.2. Automation Control & Management
     10.4.3. Real-Time Workforce Tracking & Management
     10.4.4. Logistics & Supply Chain Management
     10.4.5. Asset Tracking & Management
     10.4.6. Business Process Optimization
     10.4.7. Predictive Maintenance
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Europe 5G Industrial IOT Market Size and Volume Forecast by End Users
     10.7.1. Discrete Industries
     10.7.2. Process Industries
  10.8. Basis Point Share (BPS) Analysis by End Users
  10.9. Y-o-Y Growth Projections by End Users
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe 5G Industrial IOT Demand Share Forecast, 2019-2026
11. Asia Pacific 5G Industrial IOT Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific 5G Industrial IOT Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific 5G Industrial IOT Market Size and Volume Forecast by Applications
     11.4.1. Emergency & Incident Management, and Business Communication
     11.4.2. Automation Control & Management
     11.4.3. Real-Time Workforce Tracking & Management
     11.4.4. Logistics & Supply Chain Management
     11.4.5. Asset Tracking & Management
     11.4.6. Business Process Optimization
     11.4.7. Predictive Maintenance
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Asia Pacific 5G Industrial IOT Market Size and Volume Forecast by End Users
     11.7.1. Discrete Industries
     11.7.2. Process Industries
  11.8. Basis Point Share (BPS) Analysis by End Users
  11.9. Y-o-Y Growth Projections by End Users
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific 5G Industrial IOT Demand Share Forecast, 2019-2026
12. Middle East & Africa 5G Industrial IOT Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa 5G Industrial IOT Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa 5G Industrial IOT Market Size and Volume Forecast by Applications
     12.4.1. Emergency & Incident Management, and Business Communication
     12.4.2. Automation Control & Management
     12.4.3. Real-Time Workforce Tracking & Management
     12.4.4. Logistics & Supply Chain Management
     12.4.5. Asset Tracking & Management
     12.4.6. Business Process Optimization
     12.4.7. Predictive Maintenance
  12.5. Basis Point Share (BPS) Analysis by Applications
  12.6. Y-o-Y Growth Projections by Applications
  12.7. Middle East & Africa 5G Industrial IOT Market Size and Volume Forecast by End Users
     12.7.1. Discrete Industries
     12.7.2. Process Industries
  12.8. Basis Point Share (BPS) Analysis by End Users
  12.9. Y-o-Y Growth Projections by End Users
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa 5G Industrial IOT Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global 5G Industrial IOT Market: Market Share Analysis
  13.2. 5G Industrial IOT Distributors and Customers
  13.3. 5G Industrial IOT Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Qualcomm Technologies, Inc.
     13.4.2. Verizon
     13.4.3. Cisco Systems
     13.4.4. Ericsson
     13.4.5. Nokia
     13.4.6. Huawei
     13.4.7. Cisco
     13.4.8. AT&T

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FAQ Section

Some frequently asked questions about this report!

1. Which region is anticipated to dominate the 5G industrial IOT market?

Asia Pacific is anticipated to dominate the global 5G industrial IOT market.

2. Who are the applications of 5G industrial IOT?

Emergency & incident management, & business communication, automation control and management, real-time workforce tracking & management, logistics & supply chain management, asset tracking & management, business process optimization, and predictive maintenance are the applications of 5G industrial IOT.