5G Industrial IOT Sales Project To Witness Remarkable Growth At 20% CAGR By 2031
According to projections, the need for 5G industrial IoT will increase significantly between 2021 and 2031. Sales of products are being driven by the explosion in artificial intelligence and IoT technology. Additionally, the need to consider the organization as a whole rather than just smart factories, intelligent goods, and services, as well as the distinctive advantages of high-capacity urban wireless applications, are essential reasons boosting the need for 5G industrial IoT solutions globally.
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What is Driving Demand for 5G Industrial IoT?
Strong demand for low latency and high-reliability networks in manufacturing industries, an increase in data traffic as a result of the proliferation of IoT devices in these industries, a growing need to take preventative action for critical equipment, and an increase in the number of M2M connections across manufacturing industries are the main factors driving the development of 5G Industrial IoT systems.
Additionally, due to advancements in end device economics, significant investments in 5G IoT systems, adoption of international standards, and spectrum availability, connecting industrial devices has gotten simpler. It is predicted that general information technology trends like edge computing, cloud computing, artificial intelligence, and security assurance will further increase the need for 5G industrial IoT systems.
Some of the leading manufacturers and suppliers of 5G industrial IoT include
- Qualcomm Technologies Inc.
- Huawei Technologies Co. Ltd.
- Cisco Systems
- Ericsson
- Nokia
- IBM Corporation
- ASOCS
- Advantech Co. Ltd.
- China Unicom
- Siemens AG
- KT Corporation
- ABB
- among others
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Key Segments
By Component
- Hardware
- Software
- Services
By Organization size
- Small & Medium Sized Enterprises (SMEs)
- Large Enterprises
By Application
- Predictive Maintenance
- Asset Tracking and Management
- Real-time Workforce Tracking and Management
- Logistics and Supply Chain Management
- Emergency and Incident Management
- Others
By End-user
- Process Industries
- Discrete Industries
Key Highlights
- The study analyses the state of the latest worldwide 5G Industrial IoT market.
- The paper investigates the pandemic scenarios that are most likely to have a long-term impact on the sector.
- The paper examines in great detail how the world market for 5G Industrial IoT is changing.
- The research examines how the worldwide 5G Industrial IoT market is changing, the target markets with the greatest prospects, and emerging trends that could directly or indirectly affect your organization.
- The report identifies prospects as well as the main obstacles you may face in the near future.
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