5G Industrial IOT Market witnessed USD 500 million in 2020, growing at a robust CAGR of 79.1% during forecast period.

Introduction of the 5G Industrial IoT Market Report

5G on the internet of things has enabled better management of things and futuristic devices, which has accelerated the advancement in the machinery for supporting every vertical across the dynamic world. 5G coupled with the Internet of Things can amplify the advancements and connect the world, humans with machines virtually.

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Market Dynamic

Key Drivers and Emerging Trends

Primary functions of business 5G cellular systems are now in progress. The execution of IoT and 5G has been boosted by various aspects, including increased demand from businesses and consumers and more economical devices. Significant operators heavily investing in 5G technology, transportation, and a spectrum of global standards are also assisting in growing market interest in the IoT. In addition, artificial intelligence, edge computing, and cloud computing will enhance handling larger sets of data once. Further 5G improvements, such as network slicing and non-public networks, will eventually help realize the huge quantity of connected devices. Mobile operators are using mobile IoT skills to link millions of industries, devices, and systems in China. Furthermore, in 2019, as 5G NR eMBB services launched Wave and sub 6 Gigahertz (GHz) spectrum, LTE IoT will continue to evolve and manage the new 5G network seamlessly. For example, LTE IoT is agnostic to core networks — either LTE core (EPC) or 5G core (NextGen or 5GC), which will support LTE-IoT evolution. LTE IoT deployments will be supported by 5G NR in new 5G spectrum bands, allowing 5G NR IoT to leverage LTE IoT investments fully.

Restraint in the 5G Industrial IoT Market

However, lack of standardization in IoT is a major factor that is likely to hamper the market’s overall growth.

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Type – Segment Analysis

Based on the type, hardware is witnessed to grow at a higher CAGR in the market over the forecast period. IoT hardware includes a broad range of devices such as devices for routing, bridges, sensors among others. IoT devices helps in management of key tasks and purposes such as security, system activation, action specifications, communication, and recognition of support-specific goals and actions.

End-User – Segment Analysis

Based on the end-user, healthcare is witnessed to grow at a higher CAGR in the market over the forecast period. This is due to the growing adoption of technology in healthcare for treatment and medication, which has significantly helped in the expansion of the market. In addition, smart wearable devices use IoT for monitoring health vitals.

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Regional – Segment Analysis:

Based on the regional coverage, Asia-Pacific is witnessed to grow at a higher CAGR in the market over the forecast period. This is due to the increasing penetration of the internet in countries like India, China, and Japan, which has aided in shifting the overall market landscape. In addition, with the increasing focus on digitization, countries such as India has attracted several IoT companies from big scale companies to start-ups. The government of India has implemented an IoT policy that aims to create an IoT ecosystem in the country and incentivize the players in it by creating a $15 billion industry by the end of 2021.

Top Market Players

Various notable players operating in the market, include, Qualcomm Technologies, Inc., Ericsson, Nokia, Huawei Technologies Co., Ltd., Cisco Systems, AT&T, IBM Corporation, Microsoft Corporation, Siemens AG, Verizon, among others. 

Key Developments:

• • In 2019, Ericsson entered into a strategic agreement with Ooredoo Group, for the supply of 5G radio core and other products.

Segments covered in the Report:

The global 5G Industrial IoT market has been segmented based on type, end-user, and regions. Based on type, the market is segmented into hardware, solutions, and services. Based on end-user, the market is segmented into automotive & transportation, consumer electronics, healthcare, agriculture, oil & gas, manufacturing, and others. 

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Key questions answered in this research report:

• • At what pace is global 5G Industrial IoT market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in 5G Industrial IoT market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global 5G Industrial IoT market?
  • What is the Global 5G IoT Market Size in 202?
  • Which Type generated maximum revenues in 2019 and identify the most promising Type during the forecast period?
  • What are the various End-User areas of global 5G Industrial IoT market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global 5G Industrial IoT Market by Type

• • Hardware
  • Solutions
  • Services

Global 5G Industrial IoT Market by End-User

• • Automotive & Transportation
  • Consumer Electronics
  • Healthcare
  • Industrial
  • Agriculture
  • Oil & Gas
  • Manufacturing
  • Others

Global 5G Industrial IoT Market by Region

• • North America 5G Industrial IoT Market (Option 1: As a part of the free 25% customization)
    • North America 5G Industrial IoT Market by Type
    • North America 5G Industrial IoT Market by End-User
    • US 5G Industrial IoT Market All-Up
    • Canada 5G Industrial IoT Market All-Up
  • Europe 5G Industrial IoT Market (Option 2: As a part of the free 25% customization)
    • Europe 5G Industrial IoT Market by Type
    • Europe 5G Industrial IoT Market by End-User
    • UK 5G Industrial IoT Market All-Up
    • Germany 5G Industrial IoT Market All-Up
    • France 5G Industrial IoT Market All-Up
    • Spain 5G Industrial IoT Market All-Up
    • Rest of Europe 5G Industrial IoT Market All-Up
  • Asia-Pacific 5G Industrial IoT Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific 5G Industrial IoT Market by Type
    • Asia-Pacific 5G Industrial IoT Market by End-User
    • China 5G Industrial IoT Market All-Up
    • India 5G Industrial IoT Market All-Up
    • Japan 5G Industrial IoT Market All-Up
    • Rest of APAC 5G Industrial IoT Market All-Up
  • RoW 5G Industrial IoT Market (Option 4: As a part of the free 25% customization)
    • RoW 5G Industrial IoT Market by Type
    • RoW 5G Industrial IoT Market by End-User
    • Brazil 5G Industrial IoT Market All-Up
    • South Africa 5G Industrial IoT Market All-Up
    • Saudi Arabia 5G Industrial IoT Market All-Up
    • UAE 5G Industrial IoT Market All-Up
    • Rest of world (remaining countries of the LAMEA region) 5G Industrial IoT Market All-Up

Major Players Operating in the 5G Industrial IoT (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

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