About 5G in Industrial IoT
An industrial IoT system is a complex architecture that includes sensors, communications, big data storage, edge computing, and advanced analytics. In the communications segment, the “last leap” for industrial IoT is now wireless wherever possible, resulting in cost savings, greater flexibility, and greater mobility than wired connections. For large industrial IoT networks, the viable technologies are variants of Wi-Fi, which is used in corporate networks today, and 4G from public cellular networks. The COVID-19 pandemic has caused significant disruption in all areas of the company, including business, industry, and government. Recently, companies in various industries, including manufacturing, have resumed operations as lockdown restrictions are eased in almost every region of the world. The COVID-19 pandemic has forced manufacturing companies to set up remote workplaces to ensure business continuity. Working remotely in widespread regions requires a high-speed network like 5G for higher connectivity and improved performance. In addition, the manufacturing companies are calling for the switch to predictive analytics-controlled processes in order to optimize their business processes. In the current scenario, the consumers have become extremely quality conscious. 5G industrial IoT solutions can improve the analytics process, allowing manufacturers to enforce quality checks and thresholds across production lines to get the best output. 5G may provide improved connectivity to IoT-enabled connected assets due to its higher performance, lower latency, and increased reliability, as real-time asset data will increasingly be used to derive actionable insights for the connected devices in the near future, compressing productivity, cost and intelligent Enable solutions. There is an increasing need in large companies to provide 5G IoT solutions and services to the industry in order to efficiently manage their large number of assets spread across different regions. The acceptance of industrial IoT solutions and services from 5G in large companies is very high compared to SMEs. 5G technology increases overall bandwidth and enables large numbers of IoT devices to be connected, allowing discrete manufacturers to increase their productivity. 5G industrial IoT solutions are expected to increase the operational efficiency of the discrete manufacturing process by providing greater connectivity between IoT devices.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global 5G in 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.
Qualcomm Technologies, Inc. (United States), Ericsson (Sweden), Nokia (Finland), Huawei Technologies Co., Ltd. (China), Cisco Systems (United States), AT&T (United States), IBM Corporation (United States), Microsoft Corporation (United States), Siemens AG (Germany), Verizon (United States), Sierra Wireless (Canada), Telefónica S.A. (Spain), China Mobile Limited (China), China Unicom (China), Vodafone (United Kingdom), Advantech Co., Ltd. (Taiwan), ASOCS (Israel), T-Mobile USA, Inc. (United States), TELUS (Canada), Honeywell International Inc. (United States), Intel Corporation (United States) and Bosch.IO GmbH (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Deutsche Telekom AG (Germany), Telit (United Kingdom), Thales Group (France), IDEMIA (France), KT Corporation (South Korea), ABB (Switzerland) and NTT Data Corporation (Japan).
Segmentation Overview
AMA Research has segmented the market of Global 5G in Industrial IoT market by Type (Hardware [Processors, Sensors, Memory, RFID, Other], Solutions and Services [Analytics, Consulting, Professional Service]), Application (Remote Monitoring & Management, Autonomous Robots, Connectivity Solutions, Infrastructure Solutions, Interoperability Testing & Measurement, AI-based Solution, Data Analytics & Visualization and Other) and Region.
On the basis of geography, the market of 5G in 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. SMEs will boost the 5G in Industrial IoT market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Vertical, the sub-segment i.e. Manufacturing will boost the 5G in Industrial IoT market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
A Rise in Real-Time Workforce Tracking and Management and Increase the Operational Efficiency of the Discrete Manufacturing Process by Offering Higher Connectivity among IoT Devices
Market Growth Drivers:
Increasing Number of IoT Devices across Manufacturing Industries, Increasing Demand for High Reliability and Low Latency Networks in Manufacturing Industries, Growth in Number of M2M Connections across Manufacturing Industries and Rising Need of Preventive Maintenance for Critical Equipment
Challenges:
Issues Related To Deployment and Coverage of 5G Networks
Restraints:
High Costs Required For Deployment of 5G Network
Opportunities:
The Growing Adoption of 5G Industrial IoT Solutions and Services in Large Enterprises and The Increased Monitoring and Security Requirements, Improved Regulatory Compliances, Enhanced Productivity, and Improved Data Integrity While Meeting Strict Service-Level Agreements (SLAs)
Market Leaders and their expansionary development strategies
In January 2021, Ericsson and the Ooredoo Group signed a five-year strategic 5G contract for the delivery of 5G radio, core, and transport products and solutions, as well as related implementation and integration services. and In December 2020, Nokia and the Thai mobile operator dtac, part of the Telenor Group, entered into a partnership in which dtac selected Nokia as the first 5G RAN partner under a three-year contract for the north and northeast of Thailand.
In February 2020, Cisco announced improvements to its IoT portfolio that will enable service provider partners to offer optimized management of cellular IoT environments and new 5G use cases. New wireless technologies like 5G and Wi-Fi 6 will lead to more devices and new advanced IIoT use cases, providing service providers with the tools to create competitive cellular IoT offerings for their customers.
Key Target Audience
Providers of 5G in Industrial IoT, Potential Investors, Market Research Firms, Regulatory Bodies, 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.