Global 5G Industrial IoT Market Projected To Grow and Reach above USD 17.68 Billion by the End of 2026 - Market Research Store

News provided by

Market Research Store

Sep 01, 2021, 07:30 ET

NEW YORK, Sept. 1, 2021 /PRNewswire/ -- As per the report published by Market Research Store, global demand for 5G Industrial IOT market was valued at approximately USD 0.29 Billion in 2019, and is expected to generate revenue of around USD 17.68 Million by end of 2026, growing at a CAGR of around 80.0% between 2020 and 2026.

Wireless connectivity started penetrating since the inception of 4G technology. As more and more devices are communicating on network, capacity of the 4G network has been utilized and more sophisticated 5G network is deployed by the network players. 5G has improved latency, speed, and reliability of the network. Currently most 5G innovations cater to B2C market as network operator are focusing in on optimizing operational cost and smartphone players want to differentiate their products from the rest. However, opportunities in the B2B market are slowly opening.

Some main participants of the global 5G Industrial IoT market are Samsung Display Co, Hitachi Ltd., LG Display Co., Ltd, BenQ Corp., NEC Display Solutions Ltd., Planar Systems Inc, Sharp Corp., GestureTek Inc,  Panasonic Corporation, Leyard Optoelectronic, Koninklijke Philips N.V., Elo Touch Solutions, Crystal Display Systems, ViewSonic, Horizon Display and Seiko Epson Corp among others.

Get Free Research Report Sample PDF for More Insights - https://www.marketresearchstore.com/sample/5g-industrial-iot-market-828540

Technological Advancements in Industrial Manufacturing

At present in the factories Automated Guided Vehicles rely on sensors and have basic capabilities for optimizing routes. 5G connected AGV will use data analytics and machine learning which allow them to make sophisticated navigating decisions and communicate with other devices, increasing the efficiency of the operation. Unplanned downtime costs for the manufacturing units are tremendous. Smart manufacturing requires operational intelligence which will be enhanced by connecting sensors on the 5G to gain, analyze and act on the real-time data. Convergence of 5G Iot and manufacture is likely to enhance flexibility and agility in the journey of digital transformation. It will increase the customer satisfaction and return on investments. Data collection and analysis through IoT devices coupled with 5G network will increase the transparency in production process. Shift of the industries across the spectrum are becoming data driven and hence the demand for 5g industrial IoT market is growing.

Request Pre and Post COVID-19 Impact Analysis: https://www.marketresearchstore.com/covid19/5g-industrial-iot-market-828540

North America and Europe Region Projected To Dominate Global 5G Industrial IoT Market Growth

North America was the leading market for 5G industrial IOT in 2019. It held for the significant shares of the total market and furthermore, is likely to witness significant growth in the upcoming years. The U.S. is a major contributor of the market in the region. Europe is the second largest market of 5G industrial IOT. Moreover, Asia Pacific is expected to be the fastest growing market of 5G industrial IOT during the years to come. Growing penetration of 5G industrial IOT connections in the manufacturing sector especially in China, India, Australia, South Korea and Japan is projected to boom the market's growth during the forthcoming years. Furthermore, Latin America and Middle East and Africa markets are expected to grow at a moderate pace owing to the growing industrialization in both the regions in the near future.

Browse the full "5G Industrial IOT Market, By Component (Hardware, Solutions, and Services), By Organization Size (Large Enterprises, and SMEs), By Application (Predictive Maintenance, and Business Process Optimization), By End User (Process Industries, and Discrete Industries): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026."  Report at https://www.marketresearchstore.com/inquiry/5g-industrial-iot-market-828540

The global 5G Industrial IoT market is segmented as follows:

By Component:

  • Hardware
  • Solutions
  • Services

By Organization Size:

  • Large Enterprises
  • SMEs

By Application:

  • Predictive Maintenance
  • Business Process Optimization

By Application:

  • Process Industries
  •  Discrete Industries

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Browse More Related Reports from Market Research Store

About Us:

Market Research Store is a single destination for all types of industries, global, and regional reports. We feature large repository of latest industry reports and market statistics published by reputed private publishers and public organizations. Market Research Store is the comprehensive collection of market intelligence products and services available. Our vast database of reports enables our clients to benefit from expert insights on global industries, products, and market trends.

Our Research Specialists have thorough knowledge about offerings from different publishers and different reports on respective industries. Our enabled team will help you refine search parameters and get desired results at your fingertips. Apart from the published market research reports, we also provide customized study on any topic to meet the varied and niche requirements of our clients. Whether you are looking for new product trends, competitive analysis or study on existing or emerging markets, Market Research Store has best offerings and expertise to get the critical information for you. You can also choose the option to purchase full reports or sections from the report to match your specific requirements.

Contact Us:

Market Research Store
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll Free No.1-855-465-4651
Email: [email protected]
Website: https://www.marketresearchstore.com/
All Press Releases - https://www.marketresearchstore.com/pressrelease
Browse Blog - https://theglobalnewspress.com/
Follow Us on LinkedIn: https://www.linkedin.com/company/market-research-store
Follow Us on Twitter: https://twitter.com/marketrstore
Follow Us on Facebook: https://www.facebook.com/marketresearchstore

SOURCE Market Research Store

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

icon3
440k+
Newsrooms &
Influencers
icon1
9k+
Digital Media
Outlets
icon2
270k+
Journalists
Opted In
GET STARTED