About 5G Industrial IOT
An Industrial IoT system is a complex architecture encompassing sensors, communications, big-data storage, edge computing, and advanced analytics among its disciplines. Industrial IoT has the ability to connect sensors, devices, equipment, software applications, manufacturing production processes, workers, and end consumers. The key elements that can boost Industrial IoT are improved connectivity, availability, low (reduced) latency, flexibility, and speed. 5G technology will play a key role in helping industrial users achieve the goals of Industrial IoT. 5G offers wireless communications services with reduced latency, increased connection density, and improved flexibility compared to the current 4G generation. This has led to significant growth of the global 5G Industrial IoT market over the forecast period.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
5G Industrial IOT market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that European and United States Players will contribute the maximum growth to Global 5G Industrial IOT market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IBM Corporation (United States), Microsoft Corporation (United States), Qualcomm Technologies, Inc. (United States), Siemens AG (Germany), Ericsson (Sweden), Nokia (Finland), Huawei Technologies Co., Ltd. (China), Cisco Systems (United States), AT&T (United States), Verizon (United States), Sierra Wireless (Canada), Telefónica S.A. (Spain), Vodafone (United Kingdom), Advantech Co., Ltd. (Taiwan), ASOCS (Israel), T-Mobile USA, INC (United States) and TELUS (Canada) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Honeywell International Inc. (United States), Intel Corporation (United States), Bosch.IO GmbH (Germany), Deutsche Telekom AG (Germany), Telit (United Kingdom), Thales Group (France), IDEMIA (France), KT Corporation (South Korea), ABB (Switzerland), NTT Data Corporation (Japan), China Mobile Limited (China) and China Unicom (China).
Segmentation Overview
AMA Research has segmented the market of Global 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 and Emergency and Incident Management, and Business Communication) and Region.
On the basis of geography, the market of 5G Industrial IOT has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Organization Size, the sub-segment i.e. Small & Medium Enterprises (SMEs) will boost the 5G Industrial IOT market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Hardware will boost the 5G Industrial IOT market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Process Industries will boost the 5G Industrial IOT market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increase in the Number of M2M Connections across Manufacturing Industries
Market Growth Drivers:
Growing Number of IoT Devices Across Manufacturing Industries and Rising Demand for High Reliability and Low Latency Networks in Manufacturing Industries
Challenges:
Delay in Spectrum Harmonization across Geographies and Issues Related to Deployment and Coverage of 5G Networks
Restraints:
High costs required for Deployment of 5G network
Opportunities:
Growing Demand for Private 5G Network Across Manufacturing Industries and Increasing Development of Smart Infrastructure such as 5G-enabled Factory
Market Leaders and their expansionary development strategies
In January 2021, Ericsson and Ooredoo Group have signed a five-year strategic 5G agreement for the supply of 5G radio, core, and transport products and solutions, as well as related implementation and integration services.
On 2oth December 2020, Nokia and Thai mobile operator, dtac, part of Telenor Group, came into partnership wherein dtac selected Nokia as its first 5G RAN partner in a three-year deal covering the North and North Eastern regions of Thailand.
Key Target Audience
5G Industrial IOT Providers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.