Global 5G Industrial IoT Market, By Component (Hardware, Solutions, and Services), By End User (Process Industries and Discrete Industries), By Application (Predictive Maintenance, Business Process Optimization, Asset Tracking and Management, Logistics and Supply Chain Management, Real-Time Workforce Tracking and Management, Automation Control and Management, Emergency and Incident Management, and Business Communication), By Region, Competition Forecast & Opportunities, 2027
The global 5G industrial IoT market is expected to grow at a promising rate in the forecast period, 2023-2027. The provisions of advanced, improvised wireless services, high-speed internet, and reduced latency by installing a 5G network drive the demand for the global 5G industrial IoT market. The growing popularity of IoT-based devices like wireless sensors, computers, actuators, and software that are extensively used in industries is further expected to fuel the market demand in the coming years.
The global 5G industrial IoT market is segmented into component, end user, application, company, and regional distribution. Based on application, the market is divided into predictive maintenance, business process optimization, asset tracking and management, logistics and supply chain management, real-time workforce tracking and management, automation control and management, emergency and incident management, and business communication. Demand for adoption of this advanced technology is increasing exponentially. Service providers are offering a reliable network and secure connections to the industries to assimilate and analyze the data, thus driving the market's growth.
Based on end-user, the market is categorized into process industries and discrete industries. Discrete industries are involved with the manufacturing of distinct products and by-products, such as toys, furniture, airplanes, etc. IoT-enabled products are majorly manufactured by discrete industries marking the reason for their market domination. 5G has increased bandwidth and thus allows many IoT devices to connect, thereby increasing the productivity of discrete industries.
Some of the major players in the global 5G industrial IoT market are China Mobile Limited, China United Network Communications Group Co., Ltd, Vodafone Group plc, Advantech Co., Ltd., ASOCS Ltd, Intel Corporation, Bosch.IO GmbH., Deutsche Telekom AG., Thales Group, NTT DATA Corporation. The competitors are continuously involved in research and development and various mergers and acquisitions for the advancement of their services as well as the growth of the market.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022E
Forecast Period: 2023F–2027F
Objective of the Study:
- To analyze the historical growth in the market size of global 5G industrial IoT market from 2017 to 2021.
- To estimate and forecast the market size of global 5G industrial IoT market from 2022E to 2027F and growth rate until 2027F.
- To classify and forecast global 5G industrial IoT market based on component, application, end user, company, and regional distribution.
- To identify dominant region or segment in the global 5G industrial IoT market.
- To identify drivers and challenges for global 5G industrial IoT market.
- To examine competitive developments such as expansions, new services, mergers & acquisitions, etc., in global 5G industrial IoT market.
- To identify and analyze the profiles of leading players operating in global 5G industrial IoT market.
- To identify key sustainable strategies adopted by market players in global 5G industrial IoT market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of 5G industrial IoT service provider companies across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the vendors which could not be identified due to the limitations of secondary research.
TechSci Research calculated the global 5G industrial IoT market size using a bottom-up approach, where data for various end user segments were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these services for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also used by TechSci Research.
Key Target Audience:
- 5G industrial IoT service provider companies/partners
- Government bodies such as regulating authorities and policy makers
- Organizations, industry associations, forums and alliances related to 5G industrial IoT
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global 5G industrial IoT market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- 5G Industrial IoT Market, By Component:
- 5G Industrial IoT Market, By End User:
- Process Industries
- Discrete Industries
- 5G Industrial IoT Market, By Application:
- Predictive Maintenance
- Business Process Optimization
- Asset Tracking and Management
- Logistics and Supply Chain Management
- Real-Time Workforce Tracking and Management
- Automation Control and Management
- Emergency and Incident Management
- Business Communication
- 5G Industrial IoT Market, By Region:
- Asia Pacific
- South Korea
- United Kingdom
- North America
- United States
- South America
- Middle East and Africa
- South Africa
- Saudi Arabia
Company Profiles: Detailed analysis of the major companies present in global 5G industrial IoT market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).
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