5G Industrial IoT Market Size [/b][b]Growing at Market Report Analysis Share, Revenue, Growth Rate Forecast Overview 2027 Opportunity Association Demand · 11:01am Apr 1st, 2022
Market Scenario:
The 5G Industrial IoT Market Size a is proliferating rapidly across the globe. Market growth attributes to growing industrial automation and rising uses of connected devices in various industries. Besides, the increasing demand for Internet connectivity with high reliability and high-speed connectivity with low latency and higher download & upload speeds over mobile networks drive the market growth.
With various industrial sectors keeping pace with IoT and telecom advances, the market is projected to garner notable traction during the next few years. In this regard, Market Research Future (MRFR) confirms that the global 5G industrial IoT market value is estimated to reach significant heights by 2027, growing at a massive CAGR during the assessment period (2020-2027).
Additionally, the growing adoption of cloud-based services and 5G IoT technologies, alongside augmenting demand for wide access to ultra-wideband service performance, boost market shares. On the flip side, high costs associated with 5G deployments and infrastructure act as major headwinds for the growth of the market.
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Competitive Outlook:
The global 5G industrial IoT market appears highly competitive and fragmented, with several major technology providers forming a competitive landscape. To gain a substantially larger market share, market players adopt mergers & acquisitions, collaboration, expansion, and product & technology launch strategies. Also, they make substantial investments to transform the future consumer and business landscape. Players leading the global 5G industrial IoT market include Telefonaktiebolaget LM Ericsson (Sweden), Qualcomm Technologies, Inc. (US), Nokia (Finland), Cisco Systems, Inc. (US), Huawei Technologies Co., Ltd. (China), AT&T (US), Microsoft (US), IBM Corporation (US), Siemens (Germany), Sierra Wireless (Canada), Verizon (US), Telefónica S.A (Spain), T-Mobile USA, INC (US), Vodafone Limited (UK), and TELUS (Canada), among others.
Segmentation:
The market report is segmented into components, organization size, applications, end-users, and regions. The component segment is sub-segmented into hardware, solutions, and services. The organization size segment is sub-segmented into small & medium enterprises and large enterprises.
The application segment is sub-segmented into business process optimization, predictive maintenance, asset tracking & management, real-time workforce tracking & management, logistics & supply chain management, automation control & management, incident management, emergency, business communication, and others.
The end-user segment is sub-segmented into food & beverage, energy & utility, automotive & transportation, consumer electronics, manufacturing, and others. The region segment is sub-segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and rest-of-the-world.
Regional Analysis:
North America dominates the global 5G industrial IoT technology market. Factors such as the vast advances and demand for 5G IoT technology across industry verticals in this region drive the market growth. Besides, the availability of Internet connectivity with high reliability and rapid adoption of connected devices in the region boost the market size.
The presence of key industry players, like AT&T, T-Mobile, Verizon, and others, contributes to the regional market growth. Moreover, substantial R&D investments to advance 5G technology, spectrum licenses, and essential infrastructure for network connectivity foster region’s market shares.
Industry Analysis:
AT&T announced that it has opened up sub-6 GHz 5G accesses for enterprise IoT deployments, with managed services on a Cisco provided platform. AT&T has already worked to leverage wireless networks for IoT with LTE-based and other technology.
Also, AT&T has launched a narrow-band IoT (NB-IoT) network nationwide after LTE-M went live in 2019. Alongside its partner Cisco, AT&T currently manages millions of connected devices across industries and public safety via its 4G LTE and low-power IoT cellular networks.
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Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
Continued….
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