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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

12-06-2022 10:51 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Gmi Research

5G Industrial IOT Market

5G Industrial IOT Market

5G Industrial IoT Market was valued at USD 780 million in 2021 and is projected to grow at a CAGR of 27.1% during the forecast period, 2022-2029 reaching USD 5,312 million in 2029

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.

Key Developments:

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
Hardware
Solutions
Services
5G Industrial IoT Market by End-User
Automotive & Transportation
Consumer Electronics
Healthcare
Industrial
Agriculture
Oil & Gas
Manufacturing
Others
5G Industrial IOT Market by Region:
Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe - +353 1 442 8820; US - +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/

Level 1, The Chase Carmanhall Road, Sandyford Industrial Estate, Dublin D18 Y3X2, Ireland

GMI Research's leadership team with extensive experience in research and consulting together with our research and domain expertise creates a strong value proposition to create solutions that addresses our clients business problems and add significant value to long lasting relationship.

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