5G Industrial IoT Market Outlook 2027 By Component, End User, Size, Share, Trends, Growth
According to TechSci Research, Global 5G industrial IoT market is projected to grow at an impressive CAGR in the forecast period, 2023-2027. 5G introduction in the industrial IoT sector will be rapidly adopted by various industries to help improve the connectivity and high latency. With the help of 5G, industries would be able to integrate more complex devices, machinery, and systems with networked sensors and software. Termed as industrial revolution 4.0, 5G introduction in the industrial IoT is expected to be the major growth factor for the market.
The ability to connect things with the internet for better user experience is the target for Industrial IoT market. Vehicles, trains, the whole industry connected with internet for sharing data, and decision making after analyzing that data is expected to drive the market towards more advanced approach. 5G IoT is actively employed and is being promoted for its efficiency, better quality manufacturing implementations, and one platform access to the industrial information around various sectors.
The global 5G industrial IoT market is segmented by component, end user, application, and regional distribution. Based on component, the market is sub-segmented into hardware, solutions and services. Hardware component further includes 5G modules, gateways, sensors, and chips. The hardware segment is projected to dominate the market, owing to the increasing number of startups and smaller firms. Large corporations are still inclined towards their legacy systems and find incorporating new hardware systems challenging. Whereas small firms and startups can easily adopt to the latest innovations and technologies, thus driving the market towards a steady growth.
Based on end user, the market is categorized by process industries and discrete industries. Discrete industries are involved with the manufacturing of distinct products and by products, such as toys, furniture, airplanes, etc. IoT enabled products are majorly manufactured by discrete industries marking the reason for their market domination. 5G has increased bandwidth and thus allows many IoT devices to connect and thereby increase the productivity of discrete industries. All this supports the growth of discrete industries and their dominance over the market.
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Some of the major players in the market are China Mobile Limited, China United Network Communications Group Co., Ltd, Vodafone Group plc, Advantech Co., Ltd., ASOCS Ltd, Intel Corporation, Bosch.IO GmbH., Deutsche Telekom AG., Thales Group, NTT DATA Corporation. The competitors are continuously involved in research and development and various mergers and acquisitions for the advancement of their services as well as the growth of the market.
- To analyze historical growth in market size of Global 5G industrial IoT market from 2017 to 2021.
- To estimate and forecast the market size of Global 5G industrial IoT market from 2022 to 2027 and growth rate until 2027.
- To classify and forecast Global 5G industrial IoT market based on component, application, end user, and regional distribution.
- To identify dominant region or segment in the Global 5G industrial IoT market.
- To identify drivers and challenges for Global 5G industrial IoT market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Global 5G industrial IoT market.
- To identify and analyze the profiles of leading players operating in Global 5G industrial IoT market.
- To identify key sustainable strategies adopted by market players in Global 5G industrial IoT market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers, suppliers, and service providers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufactures which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufactures, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of Global 5G industrial IoT market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated them through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- 5G industrial IoT manufacturers, end users, service providers and other stakeholders
- Distributers and suppliers of 5G industrial IoT products and services and other stakeholders
- Organizations, forums, and alliances related to 5G industrial IoT
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Attribute | Details |
Base Year | 2021 |
Historical Years | 2017 – 2020 |
Estimated Year | 2022 |
Forecast Period | 2023 – 2027 |
Quantitative Units | Revenue in USD Million and CAGR for 2017-2021 and 2022-2027 |
Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered |
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Regional Scope | North America; Asia Pacific; Europe & CIS; South America; Middle East & Africa |
Country Scope | United States; Canada; Mexico; China; India; Japan; Australia; Singapore; Malaysia; South Korea; Germany; France; United Kingdom; Spain; Italy; Brazil; Argentina; Colombia; Saudi Arabia; UAE; South Africa; Qatar |
Key Companies Profiled | China Mobile Limited, China United Network Communications Group Co., Ltd, Vodafone Group plc, Advantech Co., Ltd., ASOCS Ltd, Intel Corporation, Bosch.IO GmbH., Deutsche Telekom AG., Thales Group, NTT DATA Corporation |
Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and Purchase Options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Report Scope:
In this report, Global 5G industrial IoT market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Global 5G Industrial IoT Market, By Component:
- Hardware
- Solutions
- Services
- Global 5G Industrial IoT Market, By End User:
- Process Industries
- Discrete Industries
- Global 5G Industrial IoT Market, By Applications:
- Predictive Maintenance
- Business Process Optimization
- Asset Tracking and Management
- Logistics and Supply Chain Management
- Real-Time Workforce Tracking and Management
- Automation Control and Management
- Emergency and Incident Management
- Business Communication
- Global 5G Industrial IoT Market, By Region:
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Global 5G industrial IoT market.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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