Industrial 5G Market Size Soars as Smart Manufacturing Takes Center Stage | Estimated to Surpass USD 140.88 Billion by 2030

The size of the worldwide industrial 5G market was estimated at $12.47 billion in 2020 and is expected to increase by 27.5% between 2020 and 2030 to reach $140.88 billion.

Many businesses are implementing industrial 5G because it offers dependable connectivity and high capacity for data exchange between edge devices and the cloud. Additionally, it offers low latency networks to a variety of industries, which aids businesses in enhancing their capacity for decision-making and speeding up data processing.

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On the basis of enterprise size, large enterprises dominated the market share and is expected to continue this growth during the forecast period. This growth is attributed to heavy investment of large-scale organizations in 5G network. The growing requirement of high-speed internet in large-scale organizations also drives the industrial 5G market. However, the small & medium enterprises segment recorded the highest growth rate due to major shift of small & medium business toward digitization and adoption of internet of things in thei regular operation, thereby driving the global market.

A prominent trend is the rapid adoption of Industrial 5G in smart factories and the broader Industry 4.0 revolution. Manufacturers are harnessing the power of 5G networks to enable real-time monitoring, automation, and data-driven decision-making. This connectivity is driving efficiency, reducing downtime, and enhancing overall production quality. Many industrial enterprises are opting for private 5G networks to secure their communication infrastructure and ensure low-latency, high-reliability connectivity. These private networks are tailor-made for specific industrial needs and are particularly crucial in mission-critical applications, such as robotics, autonomous vehicles, and remote control systems.

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The Industrial 5G market is closely tied to the Internet of Things (IoT) and edge computing. Industries are deploying a multitude of IoT devices that leverage 5G connectivity to collect and transmit data in real-time. Edge computing, coupled with 5G, allows for data processing at the network's edge, reducing latency and enabling rapid decision-making in time-sensitive applications.

Industrial 5G is transcending industry boundaries. It's being adopted not only in manufacturing but also in sectors like healthcare, logistics, agriculture, and energy. The versatility of 5G networks is enabling diverse applications, such as remote surgery, autonomous vehicles in logistics, precision agriculture, and smart grid management.

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Region-wise, the industrial 5G market was dominated by North America in 2020, attributed to increase in adoption of advanced technologies, such as IoT, connected industries, telecommunication technologies (5G, LTE), additive manufacturing, and augmented reality, among various industries to improve their supply chain process and production process. However, Asia-Pacific is expected to witness significant growth rate during the forecast period, owing to increase in industrial and infrastructure expansion activities in India and China.

The key players profiled in the industrial 5G market analysis are AT&T, Ericson, Huawei Technologies Co., Ltd, NEC Corporation, Nokia, Qualcomm Technologies, Inc., Samsung, SK Telecom, Verizon Communications Inc. and ZTE Corporation These players have adopted various strategies to increase their market penetration and strengthen their position in the industrial 5G industry.

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