5G Industrial IoT Market Research Report Size, share & Global Forecast – 2022-2029

The 5G Industrial IOT Market was valued around USD 780 million in 2021 and is predicted to reach USD 5,312 million by 2029, growing at a CAGR of 27.1% over the period (2021-2028).

The factors driving growth of the 5G Industrial IOT Market includes rise in the data traffic, growing demand for high speed and low-latency networks, surge in the number of M2M connections around the world, increasing use of 5G technology across industry verticals such as Manufacturing, Energy & Utilities, and Healthcare, and improvements in the living standards. 5G industrial solutions has helped the manufacturing sector to automate their production processes with greater accuracy minimizing errors and assisted in enhancing the productivity, which is expected to generate tremendous opportunities in the approaching years. Moreover, growing adoption of advanced technologies such as Cloud Computing and Artificial Intelligence (AI), rising focus of companies on streamlining their business operations and rapid industrialization, are some of the additional factors supplementing the 5G Industrial IoT Market size. In addition, the increasing investments by leading organizations on research and development, strategic partnerships, and collaborations between enterprises, rising disposable incomes and growing population growth rates, are further contributing towards the market growth. 

However, growth of the 5G Industrial IOT Market is hindered attributed to lack of standardization.

The prominent players operating in the market are IBM Corporation, Microsoft Corporation, Siemens AG, Qualcomm Technologies, Inc., Ericsson, Nokia, Verizon, Huawei Technologies Co., Ltd., Cisco Systems, and AT&T, among others.

Based on Type, the Hardware segment is predicted to grow at a significant CAGR during the forecast period

IoT hardware helps in managing different tasks and processes such as security, system activation, and action specifications, which is pushing growth of the segment.

Based on End-User, the Healthcare segment is projected to grow at a robust CAGR over the forecast period

Increasing use of 5G IoT solutions in healthcare devices for more connected and smarter patient care, is propelling segment’s growth.

Based on Region, the Asia-Pacific region is anticipated to expand at a remarkable CAGR during the forecast period

As per the 5G Industrial Iot Market Analysis, rise in the number of internet users across India, China, and South Korea, Government initiatives promoting digitalization, rapid industrialization and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.

Market Segmentation

Segmentation by Type

• Hardware
• Solutions
• Services

Segmentation by End-User

• Automotive & Transportation
• Consumer Electronics
• Healthcare
• Industrial
• Agriculture
• Oil & Gas
• Manufacturing
• Others

Segmentation by Region

• Asia Pacific
  • China
  • Japan
  • India
  • Rest of APAC
• North America
  • United States of America
  • Canada
• Europe
  • United Kingdom
  • Germany
  • France
  • Spain
  • Rest of Europe
• RoW
  • Brazil
  • South Africa
  • Saudi Arabia
  • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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