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5G IIOT Market: Introduction

  • 5G is the fifth-generation wireless technology that brings three things to the table: Lower latency (Responsiveness), Wider channel (Speed), and more bandwidth (connect to IIOT devices). After the incredible achievement of 2G and 3G mobile networks and the rapid growth of 4G, innovative mobile networks (5G) are planned to target and deliver infinite networking proficiency to mobile users. It aims to include and benefit from numerous existing technical advances including 5G IIOT (Industrial Internet of Things).
  • The 5G IIoT merges several heterogeneous networks, such as wireless local area networks, sensor networks, mobile networks (3G/4G/LTE/5G), wearable healthcare systems, and wireless mesh networks. It is vital to design smart protocols and self-organizing for heterogeneous adhoc networks in numerous IoT applications, such as cloud computing, cyber-physical systems, data acquisition, large-scale sensor networks, from allocated smart devices, environmental monitoring, and control, green communication and applications.
  • The 5G IIOT handles a variety of traffic, including massive machine communication, enhanced mobile broadband, high-reliability application, and low-latency to generate and analyze the 5G new radio (NR) waveform
5g iiot market size and forecast

5G IIOT Market: Dynamics

5G IIOT Market: Key Drivers

  • Demand for low latency and high-reliability networks is increasing in manufacturing industries. Delays in communication networks in computers refer to the time a data packet takes to travel. Low latency leads to a huge data transmission rate. Delays in communication over a network of 5G are almost 50 times lower than the existing 4G network. The 5G technology is estimated to offer a latency of 1 millisecond, while in 4G, the latency rate is 50 milliseconds.
  • Demand for 5G IIOT in manufacturing industries is significantly high. A 5G private network delivers numerous advantages in terms of security and efficiency; numerous manufacturing organizations and former end-users are expecting to deploy these networks. Private 5G networks can become the upcoming communication platform of the industry, as they would be able to deliver improved bandwidth for an improved number of associated equipment and the equivalent data being transferred at the factory floor.
  • As compared to 4G, 5G requires eight to ten times more base stations to upgrade the hardware infrastructure by MNO (Mobile network operators). There is a logic of insecurity among MNOs related to the implementation of 5G. Hence, huge capital investment is essential to set up the infrastructure, which may hinder the 5G IIOT market.
5g iiot market growth trend

Impact of COVID-19 on 5G IIOT Market

  • Increase in cases of COVID-19 across the globe is resulting in economic slowdown. Developed countries are strongly affected by the pandemic. COVID-19 has had a negative impact on the 5G IIOT market, as companies are decreasing their investment in new technologies and services to sustain in the competition. During COVID-19, the telecom sector played an important role across the globe to support the digital infrastructure of countries. The market is expected to expand in the next few years, as companies start making profit to recover from the economic downturn associated with COVID-19. 

APAC to Hold Major Share of 5G IIOT Market

  • The 5G IIOT market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period. The economy of the region is expanding and witnessing various changes in the implementation of new technologies. The market in the region is projected to expand at a notable CAGR during the forecast period. Telecom vendors and service providers in APAC and government firms are focused on research and development on 5G. The APAC region is witnessing vigorous changes in the implementation of new technologies and developments in manufacturing industries.
5g iiot market size by competition landscape

Key Players Operating in Global 5G IIOT Market

  • Honeywell International, Inc.

Honeywell International, Inc. is an automation and manufacturing company that offers solutions in security, safety, and energy. The company uses its technology to improve the efficiency of products and processes. It has expertise in workplace, and emergency management solutions. The company also offers security and control technologies for industrial, defense, and residential end-users. Honeywell International, Inc. has a strong presence globally in order to cater to each market-specific need.

  • ABB, Ltd.

ABB, Ltd. is a global supplier of automation products and electrical equipment. The company operates in various business segments such as industrial automation, drives and motors, electrification, smart machines, and robotics. The company caters to chemical, power utilities, oil & gas, and industrial process industries. ABB Ltd. also offers repairs, outsourcing services, and various consulting services. The company is focused on accelerating the industrial ecosystem for flexible wireless automation and enhance artificial intelligence technology and Industrial IoT in the future.

Other key players operating in the global 5G IIOT market include Qualcomm Technologies, Inc., Ltd., NEC Corporation, Huawei Technologies Co., Ltd., STL - Sterlite Technologies Limited, Nokia, Telefonaktiebolaget LM Ericsso, Cisco Systems, Inc., CommScope, Hitachi, Ltd., Airspan Networks, Inc., Equinix, Inc., Qorvo, K T corp., and NTT DATA Corporation

5G IIOT Market: Research Scope

5G IIOT Market, by Component

  • Hardware
  • Solutions
  • Services

5G IIOT Market, by Organization Size

  • Large Enterprises
  • SMEs

5G IIOT Market, by Application

  • Real-Time Workforce Tracking and Management
  • Automation Control and Management
  • Logistics and Supply Chain Management
  • Business Process Optimization
  • Predictive Maintenance
  • Emergency and Incident Management and Business Communication

5G IIOT Market, by End-user

  • Discrete Industries
  • Process Industries

5G IIOT Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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5g Iiot Market