5G Industrial IOT Market

5G Industrial IOT Market is predicted to expand at a healthy CAGR of 79% over the forecast period (2021-2028), owing to the evolving need for low latency networks across the manufacturing industry.

Expansion in the 5G industrial IoT market is attributed to the increasing investment in 5G technology and transportation. Also, as per the 5G Industrial IOT Market research report the increasing data traffic owing to the accelerating IoT devices across manufacturing sector and emerging need for protective maintenance for crucial equipment has strengthened the market size. Accelerating penetration of IoT devices across construction, retail, and manufacturing industries and the advent of smart home infrastructure are other factors driving the 5G Industrial IOT Market Size.

By type, hardware is projected to expand at a faster CAGR over the forecast period. IoT devices helps managing important tasks and purposes such as safety, action specifications, system activation, communication, and identification of support-specific goals and actions.

By end-user, healthcare segment is predicted to witness a higher CAGR during the forecast period, owing to the increasing adoption of technology in healthcare industry for medication.

By regional coverage, Asia-Pacific is forecast to hold a larger share over the forecast period, owing to the accelerating penetration of intendent across India, China, and Japan. In addition, 5G Industrial IOT Market analysis asserts that rapid digitization across developing countries has attracted various IoT companies.

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

Key Developments:

In 2019, Ericsson partnered with Ooredoo Group, for the supply of 5G radio core and other products.

5G Industrial IOT Market Segmentation:

5G Industrial IOT Market by Type
  • Hardware
  • Solutions
  • Services
5G Industrial IoT Market by End-User
  • Automotive & Transportation
  • Consumer Electronics
  • Healthcare
  • Industrial
  • Agriculture
  • Oil & Gas
  • Manufacturing
  • Others
5G Industrial IOT Market by Region:
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

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