5G Industrial IoT Market is projected to touch USD 5,312 million in 2029, registering 27.1% CAGR during 2022-2029 | Size, Share, Growth & Forecast
For Additional Insights, Click to Access Complete Report: https://www.gmiresearch.com/report/5g-industrial-iot-market/
Expansion in the 5G industrial IoT market is attributed to the increasing investment in 5G technology and transportation. Also, as per the 5G Industrial IOT Market research report the increasing data traffic owing to the accelerating IoT devices across manufacturing sector and emerging need for protective maintenance for crucial equipment has strengthened the market size. Accelerating penetration of IoT devices across construction, retail, and manufacturing industries and the advent of smart home infrastructure are other factors driving the 5G Industrial IOT Market Size.
By type, hardware is projected to expand at a faster CAGR over the forecast period. IoT devices helps managing important tasks and purposes such as safety, action specifications, system activation, communication, and identification of support-specific goals and actions.
By end-user, healthcare segment is predicted to witness a higher CAGR during the forecast period, owing to the increasing adoption of technology in healthcare industry for medication.
By regional coverage, Asia-Pacific is forecast to hold a larger share over the forecast period, owing to the accelerating penetration of intendent across India, China, and Japan. In addition, 5G Industrial IOT Market analysis asserts that rapid digitization across developing countries has attracted various IoT companies.
Leading players operating in the market, include, Ericsson, Qualcomm Technologies, Inc., Nokia, Huawei Technologies Co., Ltd., IBM Corporation, Microsoft Corporation, Cisco Systems, AT&T, Siemens AG, Verizon, among others.
In 2019, Ericsson partnered with Ooredoo Group, for the supply of 5G radio core and other products.
5G Industrial IOT Market Segmentation:
5G Industrial IOT Market by Type
5G Industrial IoT Market by End-User
Automotive & Transportation
Oil & Gas
5G Industrial IOT Market by Region:
Rest of APAC
United States of America
Rest of Europe
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