The 5G Industrial IoT Market Size was valued at USD 2.87 Billion in 2023 and is expected to reach USD 298.5 Billion by 2031 and grow at a CAGR of 78.6 % over the forecast period 2024-2031.
The implementation of 5G industrial IoT technology has significantly improved efficiency in the manufacturing sector. By automating production processes with precision, errors have been reduced and safety has been enhanced. This has led to increased productivity without compromising quality or safety standards. The demand for 5G industrial IoT is Increasing due to its fast connectivity and reliable service, prompting many industries to adopt the technology to address data traffic and ensure uninterrupted connections. The development of various machine-to-machine (M2M) associations within manufacturing industries is driving growth in the 5G industrial IoT sector. The term Industrial IoT, short for Industrial Internet of Things, refers to the use of advanced technologies in various industrial sectors.
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KEY DRIVERS:
The rapidly increasing M2M connections across all manufacturing industries.
The increasing demand for high reliability and low latency networks in manufacturing industries is a key driver for the growth of the 5G Industrial IoT market.
The Growing demand for high reliability and low latency networks in manufacturing industries fuels the market, Low latency, which refers to the time it takes for a data packet to travel, is crucial for faster data transmission rates. The latency of 5G is nearly 50 times lower than that of the current 4G network, with 5G technology expected to provide a latency of just 1 millisecond compared to 50 milliseconds in 4G. This significant reduction in latency makes 5G services highly sought after for manufacturing applications and connected IoT ecosystems, where fast and reliable network services are essential. Connectivity is a vital component of Industry 4.0, with industrial networks requiring stable, secure, reliable, and fast connections to capture and process data in real-time for plant and equipment monitoring. 5G technology, with its low latency and high reliability attributes, is poised to revolutionize industrial connectivity by offering the speed, capacity, and mobility necessary for enhanced IoT implementation in manufacturing settings.
RESTRAINTS:
The Major Restrain for market is implementation of a 5G network need a high expense.
OPPORTUNITY:
The rapidly Growing Demand for a private 5G network in all manufacturing industries.
The Increasing development of smart infrastructures, such as 5G-enabled factories, is Creates opportunity for market.
CHALLENGES:
The Challenges related to 5G technology offers unparalleled speed and bandwidth, its limited range necessitates additional infrastructure for widespread coverage.
5G antennas have the capacity to support more users and data, but they emit radio waves over shorter distances. This requires the installation of extra repeaters to extend the range of coverage while maintaining consistent speeds, especially in densely populated areas. The deployment of small cells, essential for 5G network expansion, has been hindered by regulations and local authority policies that impose excessive administrative and financial burdens on operators. This has resulted in reduced investments in the necessary infrastructure. Lengthy permitting processes and procurement procedures are among the primary obstacles to deploying small cells, with local authorities taking months to approve planning applications, causing significant delays. companies face challenges in the form of high fees imposed by local authorities for the use of street furniture, such as utility poles, which are crucial for the deployment of 5G networks. These financial barriers add to the complexities of expanding 5G coverage and hinder the progress of this groundbreaking technology.
The crisis between Russia and Ukraine is significantly impacting global supply chains, particularly those vital to the 5G Industrial IoT market. A major consequence is the disruption to upstream suppliers in both countries, leading to further vulnerabilities in worldwide supply chains. This underscores the critical need for resilient supply chains and emphasizes the necessity for organizations to have a clear understanding of their extended network to effectively manage potential risks. The conflict has exposed weaknesses, such as Europe's heavy reliance on Russian natural gas and crude oil, as well as its dependence on both Russia and Ukraine for essential agricultural commodities. These disruptions extend to crucial minerals and other components vital for various industries, including those essential for 5G and IoT technologies. Original Equipment Manufacturers (OEMs) and auto component manufacturers are contemplating divesting from Russia and Ukraine while increasing investments in other European countries. Strategies like adopting multi-sourcing and transitioning from just-in-time to just-in-case inventory management are gaining traction. These shifts signify broader changes that could impact the 5G Industrial IoT market as stakeholders aim to mitigate risks and ensure the stability of their supply chains amid geopolitical conflicts.
The potential repercussions of an economic slowdown on the 5G Industrial IoT (IIoT) market are diverse, impacting various facets of technology implementation and industrial processes. Although specific analyses concentrating on the direct link between economic downturns and the 5G IIoT sector may not be readily accessible, gaining an understanding of the broader consequences of economic conditions on technology investments and industrial efficiency can offer valuable insights. 5G technology empowers a spectrum of advanced capabilities, spanning from real-time tracking of products and assets in factories to predictive maintenance and quality monitoring through environmental sensors. These applications have the potential to result in reduced downtime, prolonged equipment lifespans, and safer factory environments, thereby contributing to enhanced efficiency and productivity in industrial settings. Considering these dynamics, the 5G IIoT market stands poised to play a pivotal role in mitigating the repercussions of an economic slowdown by propelling efficiencies and fostering innovation in industrial operations. However, the momentum and extent of 5G IIoT investments might be subject to influences from broader economic conditions, prompting companies to reevaluate their expenditure priorities during downturns. Therefore, while the overarching prospects for the 5G IIoT market remain optimistic in the long term, short-term adjustments in response to economic challenges may be anticipated.
By Component
Hardware
Solutions
Services
Based on the Component The hardware segment is expected to dominate the market with the holding More than 35% share of Market of 5G industrial IoT. This segment encompasses a variety of components including 5G modules, gateways, sensors, and chips. The increasing demand for 5G industrial IoT has placed a spotlight on the importance of 5G IoT modules as a important element within the hardware segment of the market. Leading providers of IoT modules are actively exploring strategies to position their products effectively in the market. Both component and module providers are heavily investing in research and development, with a particular focus on chipsets for specialized applications in manufacturing operations. the development of 5G modules, suppliers are also pursuing various innovations such as size reduction modifications and integration strategies with other modules.
By Organization Size
SMEs
Large Enterprises
On the Basis of Organization size the large enterprises are expected to dominate the market during the forecast period with holding more than 60% share. Companies are facing a growing need to implement 5G industrial IoT solutions and services to effectively manage their Various assets located across different regions. The adoption of 5G industrial IoT solutions and services is significantly higher in large enterprises as compared to small and medium-sized enterprises (SMEs). This is primarily due to the cost-effectiveness and economies of scale that large enterprises possess, allowing them to take advantage of 5G industrial solutions and services. The many major companies are introducing 5G modules through partnerships with telecom operators to accelerate the deployment of services. This strategic approach is aimed at meeting the increasing demand for efficient and reliable 5G industrial IoT solutions and services in the 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, and Business Communication
By End-User
Process Industries
Discrete Industries
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The Asia-Pacific (APAC) region, as an emerging economy, is currently experiencing rapid changes in the adoption of cutting-edge technologies and is expected to achieve the highest market share, more than 36%. The APAC is Expected to lead in the areas of 5G, edge computing, blockchain, and 5G core technology, Because of its vast size, diversity, and the Major initiatives taken by countries like Singapore, South Korea, China, Australia, and Japan. With its status as one of the largest markets for connected devices, the region demands high-speed and low-latency networks, such as 5G, to support the massive number of connected devices. Countries like China, Australia, Japan, and South Korea are at the D of 5G-related activities in APAC. Telecom service providers, vendors, and government entities in Asia are committed Their development in 5G technology. The region is undergoing significant transformations with the adoption of new technologies and witnessing advancements in the manufacturing sector.
The North American is also holding a significant share of market, due to the increasing demand for highly connected internet infrastructure, driving the adoption of 5G IoT across various industries. Furthermore, the proliferation of 5G facilities in the region will further accelerate market growth.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The major key players are Qualcomm Technologies, Inc., Ericsson, Huawei Technologies Co., Ltd., Cisco Systems, Inc., AT&T, Inc., Siemens AG, Microsoft Corporation, Deutsche Telekom AG, Thales Group, Honeywell International Inc. & Other Players
In March 2022, Ericsson and Vodafone joined forces to establish a partnership focused on developing a 5G Standalone (SA) network with a single Radio Access Network (RAN) design to provide high-capacity and low-latency connectivity. This technology is particularly suited for applications such as virtual reality experiences in retail environments.
In March 2022, Cisco and Tech Mahindra revealed their collaboration aimed at enhancing 5G infrastructure through the implementation of routed optical networking. Cisco brings its extensive knowledge in routed optical fiber technology, while Tech Mahindra specializes in IP-based, software-driven 5G networks. This partnership is set to revolutionize the way 5G networks are deployed and managed, paving the way for more efficient and reliable connectivity solutions.
| Report Attributes | Details |
| Market Size in 2023 | US$ 2.87 Bn |
| Market Size by 2031 | US$ 298.5 Bn |
| CAGR | CAGR of 78.6 % From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Component (Hardware, Solutions, Services) • By Organization Size (SMEs And Large Enterprises) • 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 End-User (Process Industries And Discrete Industries) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Qualcomm Technologies, Inc., Ericsson, Huawei Technologies Co., Ltd., Cisco Systems, Inc., AT&T, Inc., Siemens AG, Microsoft Corporation, Deutsche Telekom AG, Thales Group, Honeywell International Inc. |
| Key Drivers | • Increased data traffic as the number of IoT devices in industrial businesses grows • In the industrial industry, there is a growing demand for high-reliability, low-latency networks |
| Market Opportunities | • Demand for a private 5G network is increasing across all manufacturing industries • The development of smart infrastructures, such as 5G-enabled factories, is accelerating |
Ans: - The estimated market size for the 5G Industrial IoT market for the year 2030 is USD 298.5 Bn.
Ans: - The implementation of a 5G network comes at a high expense.
Ans: - Asia Pacific is expected to grow at the fastest rate throughout the projected period.
Ans. The primary growth tactics of 5G Industrial IoT market participants include merger and acquisition, business expansion, and product launch.
Ans: - The study includes a comprehensive analysis of Digital Printing Market trends, as well as present and future market forecasts. DROC analysis, as well as impact analysis for the projected period. Porter's five forces analysis aids in the study of buyer and supplier potential as well as the competitive landscape etc.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.9 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. 5G Industrial IoT Market, By Component
9.1 Introduction
9.2 Trend Analysis
9.3 Hardware
9.4 Solutions
9.5 Services
10. 5G Industrial IoT Market, By Organization Size
10.1 Introduction
10.2 Trend Analysis
10.3 SMEs
10.4 Large Enterprises
11. 5G Industrial IoT Market, By application
11.1 Introduction
11.2 Trend Analysis
11.3 Predictive Maintenance
11.4 Business Process Optimization
11.5 Asset Tracking and Management
11.6 Logistics and Supply Chain Management
11.7 Real-Time Workforce Tracking and Management
11.8 Automation Control and Management
11.9 Emergency and Incident Management, and Business Communication
12. 5G Industrial IoT Market, By End User
12.1 Introduction
12.2 Trend Analysis
12.3 Process Industries
12.4 Discrete Industries
13. Regional Analysis
13.1 Introduction
14.2 North America
14.2.1 USA
14.2.2 Canada
14.2.3 Mexico
14.3 Europe
14.3.1 Eastern Europe
14.3.1.1 Poland
14.3.1.2 Romania
14.3.1.3 Hungary
14.3.1.4 Turkey
14.3.1.5 Rest of Eastern Europe
14.3.2 Western Europe
14.3.2.1 Germany
14.3.2.2 France
14.3.2.3 UK
14.3.2.4 Italy
14.3.2.5 Spain
14.3.2.6 Netherlands
14.3.2.7 Switzerland
14.3.2.8 Austria
14.3.2.9 Rest of Western Europe
14.4 Asia-Pacific
14.4.1 China
14.4.2 India
14.4.3 Japan
14.4.4 South Korea
14.4.5 Vietnam
14.4.6 Singapore
14.4.7 Australia
14.4.8 Rest of Asia Pacific
14.5 The Middle East & Africa
14.5.1 Middle East
14.5.1.1 UAE
14.5.1.2 Egypt
14.5.1.3 Saudi Arabia
14.5.1.4 Qatar
14.5.1.5 Rest of the Middle East
14.5.2 Africa
14.5.2.1 Nigeria
14.5.2.2 South Africa
14.5.2.3 Rest of Africa
14.6 Latin America
14.6.1 Brazil
14.6.2 Argentina
14.6.3 Colombia
14.6.4 Rest of Latin America
15. Company Profiles
15.1 Qualcomm Technologies, Inc.
15.1.1 Company Overview
15.1.2 Financials
15.1.3 Products/ Services Offered
15.1.4 SWOT Analysis
15.1.5 The SNS View
15.2 Ericsson
15.2.1 Company Overview
15.2.2 Financials
15.2.3 Products/ Services Offered
15.2.4 SWOT Analysis
15.2.5 The SNS View
15.3 Huawei Technologies Co., Ltd.
15.3.1 Company Overview
15.3.2 Financials
15.3.3 Products/ Services Offered
15.3.4 SWOT Analysis
15.3.5 The SNS View
15.4 Cisco Systems, Inc.
15.4 Company Overview
15.4.2 Financials
15.4.3 Products/ Services Offered
15.4.4 SWOT Analysis
15.4.5 The SNS View
15.5 AT&T, Inc.
15.5.1 Company Overview
15.5.2 Financials
15.5.3 Products/ Services Offered
15.5.4 SWOT Analysis
15.5.5 The SNS View
15.6 Siemens AG
15.6.1 Company Overview
15.6.2 Financials
15.6.3 Products/ Services Offered
15.6.4 SWOT Analysis
15.6.5 The SNS View
15.7 Microsoft Corporation.
15.7.1 Company Overview
15.7.2 Financials
15.7.3 Products/ Services Offered
15.7.4 SWOT Analysis
15.7.5 The SNS View
15.8 Deutsche
15.8.1 Company Overview
15.8.2 Financials
15.8.3 Products/ Services Offered
15.8.4 SWOT Analysis
15.8.5 The SNS View
15.9 Thales Group.
15.9.1 Company Overview
15.9.2 Financials
15.9.3 Products/ Services Offered
15.9.4 SWOT Analysis
15.9.5 The SNS View
15.9 Telekom AG
15.9.1 Company Overview
15.9.2 Financials
15.9.3 Products/ Services Offered
15.9.4 SWOT Analysis
15.9.5 The SNS View
15.10 Honeywell International Inc.
15.10.1 Company Overview
15.10.2 Financials
15.10.3 Products/ Services Offered
15.10.4 SWOT Analysis
15.10.5 The SNS View
16. Competitive Landscape
16.1 Competitive Benchmarking
16.2 Market Share Analysis
16.3 Recent Developments
16.3.1 Industry News
16.3.2 Company News
16.3.3 Mergers & Acquisitions
17. USE Cases and Best Practices
18. Conclusion
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