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2021
Industrial 5g Market

Industrial 5G Market by Component (Hardware, Software, Services), by Communication Type (eMBB, URLLC, MMTC, FWA), by Enterprise Size (Large Enterprises, Small and Medium Enterprises), by End User (Process Industries, Discrete Industries) and Region: Global Report opportunity Analysis and Industry Forecast, 2021-2031
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A11659
Pages: 406
Jun 2021 | 2250 Views
Author(s) : Pramod Borasi, Shadaab Khan , Vineet Kumar
Tables: 220
Charts: NA
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COVID-19

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Industrial 5G Market Statistics: 2030

The global industrial 5G market size was valued at $12.47 billion in 2020, and is projected to reach $140.88 billion by 2030, growing at a CAGR of 27.5% from 2020 to 2030. Industrial 5G is a unified network, which is used by industries for meeting the communication demand between industrial applications. In addition, it provides next-generation user experiences, empowers new deployment models, and delivers new services of communication channels for industries. Furthermore, it collects huge amount of data to accurately predict when a machine will fail and reduce unplanned downtime, which enhances the growth of the market. Furthermore, many industries are using 5G technology to replace traditional networking channels and to provide high-speed network connectivity between two machines. This is particularly beneficial for those manufacturers in countries with limited fixed infrastructure but relatively mature mobile network infrastructure, thereby driving the growth of the market.

The COVID-19 outbreak has significantly pushed the adoption of industrial 5G among the process manufacturing companies, owing to increase in trend among the discrete manufacturing industries to adopt next generation telecommunication solutions for enhancing better communication channels between the machinery and streamlining the product development process.

Increase in demand for high latency and low latency network among various industries and surge in M2M connections across various industries drive the growth of the market. In addition, increase in demand for next-generation telecommunication network service among enterprises fuels the industrial 5G market growth. However, high cost required to deploy 5G hampers the growth of the market. Furthermore, rise in adoption of IoT-based 5G infrastructure across various enterprises and surge in development of smart infrastructure, such as 5G-enabled factory, are expected to provide lucrative opportunity for the market.

Industrial-5G-Market

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By component, the industrial 5G market was led by the hardware segment in 2020, and is projected to maintain its dominance during the forecast period. Increase in use of sensors, antenna’s controllers, towers, small cells, pico cells and others to allow users to store and analyze vast volume of data is driving the growth of the market in this segment. However, the software segment is also expected to grow significantly during the forecast period, owing to rise in adoption of 5G software by various industries to improve their operational efficiency, reduce their infrastructure cost, and to improve product quality drive growth of the market in this segment. In addition, industrial 5G software helps companies increase their productivity by providing help to eliminate time required to primary jobs and to focus on main aspect of the product which enhances the growth of the market.

Industrial 5G Market
By Component

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Hardware is projected as one of the most lucrative segments.

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Region-wise, the industrial 5G market was dominated by North America in 2020, and is expected to retain its position during the forecast period. The growth is attributed to high penetration of 5G network and rise in use of artificial intelligence (AI) & other smart connected devices in the region. Moreover, there is surge in need of next-generation network qualities and increase in need of high-speed internet for business due to shift of business toward digitization and availability of deployment of unlicensed & shared spectrum in organizations. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to strong economic growth of emerging countries in the region and ongoing development in the telecom sector, thereby driving organizations to focus on the deployment and implementation of 5G technology to sustain growth and improve the productivity of organizations.

Industrial 5G Market
By Enterprise Size

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Large Enterprises is projected as one of the most lucrative segments.

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The report focuses on the growth prospects, restraints, and trends of the global industrial 5G market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors, such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers, on the global industrial 5G market share.

Industrial 5G Market
By End User

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Discrete Industries is projected as one of the most lucrative segments.

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Segment review

The global industrial 5G market is segmented on the basis of component, enterprise size, end user, discrete industries type, communication type and region. By component, the market is bifurcated into hardware, software and services. By end user, it is categorized process industries and discrete industries. By discrete industries type, the market is bifurcated into automotive & transportation, industrial machinery & heavy equipment’s, high-tech & consumer electronics, aerospace & defense and others. On the basis of enterprise size, it is classified into large enterprises and small & medium enterprises. Depending on communication type, it is fragmented into eMBB, URLLC, MMTC and FWA. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Industrial 5G Market
By Discrete Industries

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Automotive & transportation is projected as one of the most lucrative segments.

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The key players profiled in the industrial 5G market analysis are AT&T, Ericson, Huawei Technologies Co., Ltd, NEC Corporation, Nokia, Qualcomm Technologies, Inc., Samsung, SK Telecom, Verizon Communications Inc. and ZTE Corporation These players have adopted various strategies to increase their market penetration and strengthen their position in the industrial 5G industry. 

Industrial 5G Market
By High-tech & Consumer Electronics Type

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Consumer Electronic Devices is projected as one of the most lucrative segments.

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COVID-19 impact analysis

The industrial 5G market has witnessed significant growth in the past few years. The outbreak of the COVID-19 pandemic has driven the market to exhibit further rise in 2021. This is attributed to rapid adoption of 5G-enabled communication service providers (CSPs) among enterprises to deliver new sets of services and to help organizations to deploy their own 5G infrastructure. Furthermore, the COVID-19 pandemic is anticipated to result in surge in implementation of industrial automation across various industry verticals such as retails & e-commerce, manufacturing, healthcare, oil & gas sectors, which will drive the demand for industrial 5G across various industry verticals. In the first phase of COVID-19 pandemic, some countries such as Germany, Italy, and the UK from the European region, were critically hit by COVID-19, due to which 5G deployment plans have been postponed or expected to be delayed. Furthermore, detection of large number COVID-19-positive cases in the LAMEA region has negatively impacted several investment activities, which are focused on smart city infrastructure, thereby affecting the deployment of industrial automation technologies. 

Industrial 5G Market
By Consumer Electronic Devices Type

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Laptops, Mobile Devices & PCs is projected as one of the most lucrative segments.

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Top impacting factors

Increase in demand for low latency network among various industries

Increase in demand for low latency network among industries for real-time monitoring of machines, enhanced monitoring of the assets, and others drives the growth of the industrial 5G market. In addition, mission critical applications that are core to industrial processes have extremely low latency requirement of ten milliseconds or less, which is provided by industrial 5G, thus driving the growth of the market. Furthermore, low latency network required in various automotive, manufacturing, and aerospace & defense industries helps to reduce downtime, provide enhanced report about the maintenance and replacement of machine parts, and others, which, in turn, boosts the growth of the market. Moreover, increase in usage of augmented reality headsets to guide worker via augmented display and remote expert when carrying out maintenance & repair tasks positively impacts the market growth. Moreover, increase in demand for automated guided machines for production of automotive vehicles is expected to propel the growth of the market during the forecast period. 

Industrial 5G Market
By Communication Type

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URLLC is projected as one of the most lucrative segments.

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Increase in demand for next-generation telecommunication network service among enterprises

Surge in demand for next-generation telecommunication network service among enterprises to provide higher bandwidth communication network among industries and to replace traditional networking services for increasing the efficiency of the organizations drives the growth of the industrial 5G market. Furthermore, growing adoption of industrial 5G among energy and manufacturing firms due to numerous WAN/LAN benefits, such as infrastructure maintenance, remote machine control, and cloud robotics, propels the growth of the global industrial 5G market growth. Moreover, increase in use of 5G-enabled remote control machinery among connected equipment companies across developing nations is expected to surge the demand for industrial 5G systems in the near future. Furthermore, rapid adoption of next-generation communication services among vehicle manufacturing companies for improving their assembly line drives the growth of the market. In addition, next-generation telecommunication network provides unrestricted access by users to different service providers, which enhances the security & safety of various organizations, thus propelling the growth of the market. 

Industrial 5G Market
By Region

2030
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific would exhibit the highest CAGR of 29.1% during 2021-2030.

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Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the global industrial 5G market forecast along with the current & future trends to explain the imminent investment pockets.
  • Information about key drivers, restraints, & opportunities and their impact analysis on the global industrial 5G market trends is provided in the report.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
  • The quantitative analysis of the industrial 5G market from 2021 to 2030 is provided to determine the market potential.

Key Market Segments

By Component

  • Hardware
  • Software
  • Services

By End User

  • Process Industries
  • Discrete Industries
    • Automotive & Transportation
    • Industrial Machinery & Heavy Equipment’s
    • High-Tech & Consumer Electronics
      • Consumer Electronic Devices
        • Laptops, Mobile Devices & PCs
        • Wearable’s
        • Televisions
        • Others
      • Semiconductor & IT Equipment’s
    • Aerospace & Defense
    • Others

By Enterprise Size

  • Large Enterprises
  • Small & Medium Enterprises

By Communication Type

  • eMBB
  • URLLC
  • MMTC
  • FWA

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe 
    • UK
    • Germany 
    • France
    • Russia
    • Italy
    • Rest of Europe
  • Asia-Pacific 
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America 
    • Middle East 
    • Africa

KEY MARKET PLAYERS

  • AT&T
  • Ericson
  • Huawei Technologies Co., Ltd
  • NEC Corporation
  • Nokia
  • Qualcomm Technologies, Inc.
  • Samsung
  • SK Telecom
  • Verizon Communications Inc.
  • ZTE Corporation

Key Market Segments

  • Component
    • Hardware
    • Software
      • Production Optimization Software
      • Enterprise Connectivity Management Software
      • Human Machine Interface Management Software
      • Supply Chain Integration Software
      • Preventive Maintenance Software
      • Other
    • Services
      • System Integration and Deployment
      • Support and Maintenance
      • Consulting and Training

  • Communication Type
    • eMBB
    • URLLC
    • MMTC
    • FWA

  • Enterprise Size
    • Large Enterprises
    • Small and Medium Enterprises

  • End User
    • Process Industries
    • Discrete Industries
      • Automotive and Transportation
      • Industrial Machinery and Heavy Equipment’s
      • High-Tech and Consumer Electronics
      • Aerospace and Defence
      • Others

  • By Region

Key Market Players

  • AT&T Inc.
  • Ericson Group Inc
  • Huawei Technologies Co., Ltd.
  • NEC Corporation
  • Nokia Corporation
  • Qualcomm Technologies, Inc.
  • Samsung Electronics Co Ltd
  • SK Telecom Co Ltd
  • Verizon Communications Inc.
  • ZTE Corporation
 

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Adoption of industrial 5G has increased over the years to boost manufacturing processes, to help organizations monitor production processes, and to provide enhanced customer services. In addition, 5G solutions help businesses to reduce the cost of communication and internet data to run the business operation effectively, thereby driving its adoption among companies and increasing its popularity among the end users. Furthermore, a number of industry verticals, such as healthcare, retail & e-commerce, IT & telecom, and manufacturing, focus on adopting 5G solutions to increase speed of internet and reduce network related issues in organizations, thereby positively impacting on the growth of the market.

The market is expected to witness significant growth in the future due to increase in use of 5G network among domestic users and rise in adoption of internet of things-oriented business models among organizations. The global industrial 5G market is highly concentrated, and companies are focusing on leveraging new technologies for offering 5G solutions to meet the emerging requirements of the user. In addition, presence of a large number of service providers in the global industrial 5G market increases the competition between key players. Therefore, industrial 5G technology providers are differentiating themselves from competitors and driving revenue growth by incorporating new digital business technologies, such as artificial intelligence, machine learning, and low cost data, into their offerings to gain a competitive lead and retain their market position. The market is considerably concentrated with major players consuming significant market share. The degree of concentration will remain the same during the forecast period. The vendors operating in the market are taking several initiatives, such as product launch and partnership, to stay competitive and to strengthen their foothold in the market. For instance, Siemens AG launched the first industrial 5G router in the spring of 2021. In addition, industrial 5G has been set up at the Siemens Automotive Showroom and test center. The private 5G installation uses the 3.7 to 3.8 GHz 5G frequency band. This is used to test concrete industrial applications with 5G such as the operation of automated guided vehicles (AGVs) for smart production, logistics, and highly flexible manufacturing. According to the industry experts, the industrial 5G market is expected to witness increased adoption in the coming years, owing to digital transformation in industries, 5G adoption in developing countries, such as India, and rapid adoption of IIoT among various sectors. North America is expected to dominate the market during the forecast period while emerging countries in Asia-Pacific and Latin America are projected to offer significant growth opportunities.

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