5G Market Has The Potential To Solve Connectivity Issues Faced By Industries Says Rationalstat
The report “Global Industrial 5G Market Analysis and Future, 2019-2028” analyzes the market by components, organization size and communication type. It also includes information about end users and regions. The report includes a market analysis and trend analysis, historical and future market data. Market share analysis, a review of competition, strategic imperatives and key growth regions. Competition analysis for the target companies evaluated in the global Industrial 5G industry market study.
Global Industrial 5G Market Overview & Dynamics:
Growing demand for high-speed data to support industrial operations and communication in order to drive the Industrial 5G market. Global demand for Industrial 5G is expected to rise due to the rapid increase in the demand for high-speed data and low latency in various industries, the surge in M2M connections between different industries. 5G could solve many connectivity problems faced by various industries, including manufacturing, transportation hubs, logistics and energy.
The key drivers for the global industrial market 5G are technology upgradation, efficiency for industries, safety and security, affordability, and the growing trend of smart cities, autonomous driving, and technological advancement.
China will dominate the Asia Pacific region’s market in 2021 due to its increased R&D investment, and the presence of global players. Regional market growth is being driven by rapid industrialization and the increasing penetration of 5G in the regions’ economies. Regional market growth has been further fueled by the rapid adoption of 5G in key industries in North America.
Some European manufacturers don’t prefer 4G wireless networks for extensive networking because they are slower and less reliable. With its high bandwidth, 5G can transfer large amounts of data in real time and support 1000 times more bandwidth than 4G. This increases 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 the Industrial 5G field router 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
- 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
For more information about this report, click here.
About RationalStat LLC
RationalStat is an end-to-end US-based market intelligence and consulting company that provides comprehensive market research reports along with customized strategy and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
Dorinda Erwin, Content and Press Manager
Phone: +1 302 803 5429