PUNE, India, Sept. 13, 2022 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Global 5G Industrial IoT Market" by Components (Services, Solutions, and Hardware), Applications (Emergency & Incident Management, & Business Communication, Automation Control and Management, Real-Time Workforce Tracking & Management, Logistics & Supply Chain Management, Asset Tracking & Management, Business Process Optimization, and Predictive Maintenance), Organization Size (Large Enterprises and SMEs), End-users (Discrete Industries and Process Industries), and Regions: Size, Share, Trends, and Opportunity Analysis, 2021-2030, the market was valued at USD 0.8 billion in 2021 and is expected to grow at a healthy growth rate of 28% by the end of 2030. The global 5G industrial IoT market growth is attributed to increasing demand for networks with high dependability and low latency in manufacturing industries.

Key Market Players Profiled in the Report

• Microsoft
• Siemens
• Verizon
• Intel Corporation
• Intel Corporation
• Microsoft Corporation
• Huawei Technologies Co., Ltd.
• Siemens AG
• Honeywell International Inc.
• Qualcomm Technologies, Inc.
• Verizon
• Cisco Systems
• Ericsson
• Nokia
• Huawei

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

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This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping them to expand their market share.

Highlights on the segments of the 5G Industrial IoT Market

In terms of components, the global 5G industrial IoT market is segmented into services, solutions, and hardware. The hardware segment is anticipated to expand at a sustainable CAGR during the forecast period. The 5G IoT module is an essential element in the hardware segment. 5G IoT modules make work environments smooth, useful, and secure. Component and module manufacturers are investing money in R&D while also considering chipsets for specific usage in the manufacturing processes.

Based on applications, the global 5G industrial IoT market is segmented into emergency & incident management, & business communication, automation control and management, real-time workforce tracking & management, logistics & supply chain management, asset tracking & management, and business process optimization, and predictive maintenance. The real-time workforce tracking & management segment is expected to grow at a significant pace during the forecast period. Real-time workforce tracking and management for manufacturing companies enables the deployment, identification, and validation of employees and their management and real-time communication.

Based on regions, the market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market in Asia Pacific is projected to expand at a significant CAGR during the forecast period, owing to the technological advancements in the region. Asia Pacific is anticipated to dominate edge computing, 5G core technologies, 5G, and blockchain owing to its culture, size, and strategic initiative taken by countries including Singapore, Japan, South Korea, Australia, and China.

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Key Takeaways from the Study:

• The large enterprise segment is anticipated to grow at a significant pace. Large enterprises demand 5G industrial IoT solutions and services to manage various assets deployed across numerous locations. The adoption of 5G industrial IoT solutions and services is higher in large enterprises than in small & medium enterprises.
• The discrete industries segment is anticipated to expand at a sustainable CAGR during the forecast period. Discrete industries are involved in the manufacturing and production of products that are made to order, including toys, furniture, cellphones, smartphones, and aircraft.
• Low latency in manufacturing industries and high reliability is expected to drive the market growth. Moreover, 5G networks have 50 times less latency than 4G networks.
• Manufacturing companies were compelled to employ remote working solutions to maintain company continuity, due to the COVID-19 pandemic. The 5G network is necessary for remote workers to have enhanced connectivity and better performance.

Read 180 Pages Research Report with Detailed ToC on "Global 5G Industrial IoT Market" by Components (Services, Solutions, and Hardware), Applications (Emergency & Incident Management, & Business Communication, Automation Control and Management, Real-Time Workforce Tracking & Management, Logistics & Supply Chain Management, Asset Tracking & Management, Business Process Optimization, and Predictive Maintenance), Organization Size (Large Enterprises and SMEs), End-users (Discrete Industries and Process Industries), and Regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2030

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Key Segments Covered

Components

• Services
• Solutions
• Hardware

Applications

• Emergency & Incident Management, & Business Communication
• Automation Control and Management
• Real-Time Workforce Tracking & Management
• Logistics & Supply Chain Management
• Asset Tracking & Management
• Business Process Optimization
• Predictive Maintenance

Organization Size

• Large Enterprises
• SMEs

End-users

• Discrete Industries
• Process Industries

By Regions

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Other Related Reports:

• Global IoT Security Market By Component (Solution, Service), By Deployment Mode (On-Premise, Cloud), By Organization Size (Large Enterprise, SMEs), By Security Type (Network Security, Endpoint Security, Application Security, Cloud Security, Others), By End User (Manufacturing, Retail E-commerce, Government & Defense, Transportation & Logistics, Energy & Utilities, Healthcare, Others)
• Global 5G Equipment Market By Type (SDN, NFV, MEC, FC), By Application (Automotive, Consumer Electronics, Commercial, Industrial) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
• Global IoT Network Module Market by Type (Lora, NB-IoT, LTE-M, Wi-Fi, Others), By Application (Commercial IoT Devices, Industrial IoT Devices) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030
• Global 5G Market By Type (IaaS, SaaS, PaaS, Others), By Application (Private 5G Networks, Cybersecurity) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

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