he report titled “Global Industrial 5G Market Analysis and Forecast, 2019-2028” assesses the global market based on components, organization size, communication type, end user, and region. A comprehensive report provides a detailed historical and future market size with a comprehensive market trend analysis. The market share analysis, an overview of the competition, strategic imperatives, key end users, potential growth areas, and competition analysis for the target players evaluated in the global Industrial 5G market study.
Market Overview and Dynamics: Growing need for high-speed data for industrial operations and communication to drive the Industrial 5G market growth
The rapid increase in demand for high speed-data and low latency across various industries coupled with the surge in M2M connections across various industries is expected to drive the demand for Industrial 5G globally. 5G has the potential to solve many of the connectivity issues faced by industries such as manufacturing, transport hubs, logistics, energy, and utilities.
Technology upgradation, effectiveness for industries, high performance with security and safety, and affordability of the network coupled with the increasing trend of smart cities and autonomous driving are some of the key drivers of the global industrial 5G market.
In Asia Pacific, China is dominating the regional market in 2021, due to increased R&D investment and the local presence of global players. Rapid industrialization coupled with the growing penetration of 5G across the economies of the region is driving regional market growth. Moreover, the increased 5G adoption across key industry verticals in North America is further driving the regional market growth in recent times.
In Europe, some manufacturers do not prefer to use wireless networks like 4G for extensive networking, because of their slower and less reliable transfer rates. However, the high bandwidth of 5G allows for large amounts of data to be transferred reliably in real-time, with its capacity to support a thousand times the bandwidth of 4G. Thereby, augmenting the demand for Industrial 5G solutions.
- Based on segment, the hardware segment is anticipated to hold a prominent share of the global industrial 5G market. Due to the rapid increase in the use of sensors, antenna controllers, towers, small cells, and others, the hardware segment is generating significant revenue.
- On the basis of organization size, SMEs are expected to gain substantial growth in the coming years. SMEs will be able to develop and test 5G-enabled devices and applications, as well as gain insights from sharing sessions and masterclasses with PIXEL’s broader eco-system of innovative start-ups in Infocomm media.
- Geographically, North America dominates the industrial 5G market owing to the high penetration of industrial 5G coupled with the high use of AI and other smart connected devices in the region.
The Global Industrial 5G Market is characterized by the presence of a large number of players that faces intense competition. Public and private companies are primarily focusing on increasing investment in R&D.
These players adopt various strategies including mergers and acquisitions, partnerships and collaborations which directly results in propelling the growth of the global industrial 5G market. To meet this demand and fully realize the value of 5G, a collaboration between the mobile industry and other industry sectors is crucial
- In September 2022, Nokia launched Industrial 5G fieldrouter to extend private wireless capabilities and simplify connectivity in North America.
- In July 2022, Ericsson completed the acquisition of Vonage Holdings Corp. to leverage technology leadership to grow its mobile network business and expand into enterprise.
Some of the prominent players operating in the global industrial 5G market include Nokia Corporation, Qualcomm Technologies Inc., NEC Corporation, Ericsson, Samsung, Verizon Communications Inc., ZTE Corporation, IBM Corporation, Siemens AG, and others.
RationalStat has segmented the global industrial 5G market on the basis of components, organization size, communication type, end user, and region.
- By Component
- By Organization Size
- Large Enterprises
- By Communication Type
- Enhanced Mobile Broadband (eMBB)
- Ultra-reliable Low-Latency Communication (URLLC)
- Massive Machine-Type Communication (mMTC)
- By End User
- Process Industries
- Discrete Industries
- Automotive and Transportation
- Industrial Machinery & Heavy Equipment’s
- High-Tech & Consumer Electronics
- Consumer Electronic Devices
- Semiconductor & IT Equipment
- Others (Aerospace & Defense, etc.)
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- North America
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