Connecting Industries: Examining the Growth and Opportunities in Industrial 5G Market

According to a recent report published by Allied Market Research, The global industrial 5G market size was valued at $12.47 billion in 2020, and is projected to reach $140.88 billion by 2030, growing at a CAGR of 27.5% from 2020 to 2030.

Industrial 5G serves as a unified network catering to the communication needs of various industries. It not only facilitates enhanced user experiences and novel deployment models but also offers a range of communication services tailored to industrial requirements. Moreover, by efficiently collecting vast amounts of data, enables accurate prediction of machinery failures, thereby minimizing unplanned downtime and fueling market expansion.

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Additionally, the adoption of 5G technology by industries to replace traditional networking methods and establish high-speed connectivity between machines is proving especially advantageous for manufacturers in regions with limited fixed infrastructure but advanced mobile network coverage, thus stimulating market growth.

Furthermore, the key factors that drive the industrial 5G market trends includes increase in demand for high latency and low latency network among various industries and surge in M2M connections across various industries. In addition, increase in demand for next-generation telecommunication network service among enterprises fuels the industrial 5G market growth.

However, high cost required to deploy 5G hampers the growth of the market. Furthermore, rise in adoption of IoT-based 5G infrastructure across various enterprises and surge in development of smart infrastructure, such as 5G-enabled factory, are expected to provide lucrative opportunity for the market.

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Based on 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.

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.

In addition, countries, such as India, China, and Japan, are taking initiatives in the rapid deployment of 5G network across their countries, thereby drives market growth. Furthermore, key players in Asia-Pacific are focusing on enhancing their operations and increasing their overall efficiency to stay competitive in the market, which is expected to provide lucrative opportunities for the growth of the market during the forecast period.

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The outbreak of COVID-19 is anticipated to have a positive impact on the growth of industrial 5G market. This is attributed to the need to optimize the supply chain process of various manufacturing industries and reducing logistics activities across the globe. However, various industries have started adopting industrial 5G technology to automate their entire business processes and efficiently control the production process.

In addition, factors, such as working from home (WFH) and digital transformation of businesses, have become key components in the emergence of 5G technology among industries. However, during lockdown, the implementation of 5G solution has been slightly affected due to limited supply of auxiliary equipment such as optical fiber wire and micro stations. Furthermore, in the post-lockdown scenario, the growth of industrial 5G is expected to increase as the demand is growing for high-speed low latency internet. This is expected to drive the global industrial 5G market.

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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