According to a market report by Lucintel, the future of the global 5G industrial IoT market looks promising with opportunities in the discrete industry and process industry markets. The global 5G industrial IoT market is expected to reach an estimated $246.2 billion by 2031 with a CAGR of 81.5% from 2025 to 2031. The major drivers for this market are the growing need in industrial industry for networks with high reliability and minimal latency, rising number of m2m connections across manufacturing industries, and increasing demand of preventive maintenance for critical equipment.A more than 150-page report to understand trends, opportunity and forecast in 5G industrial IoT market to 2031 by component (services, solutions, and hardware), end use industry (discrete industries and process industries), organization size (large enterprises and smes), application (emergency & incident management, and business communication, automation control & management, real-time workforce tracking & management, logistics & supply chain management, asset tracking & management, business process optimization, and predictive maintenance), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that within the component category, hardware is expected to witness the higher growth over the forecast period.
Within the end use industry category, discrete industries will remain the larger segment due to smart linked items with IoT capabilities offer a means to enhance product functioning and produce extra value for consumers.
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In terms of regions, APAC will remain the largest region over the forecast period because it is expected to rule 5G, edge computing, blockchain, and 5G core technologies because of its size, diversity, and the proactive stance adopted by nations like South Korea, China, Singapore, Australia, and Japan.
Qualcomm Technologies, Verizon, Cisco Systems, Ericsson, Nokia, Huawei, Cisco, IBM Corporation, Microsoft, Seimens are the major suppliers in the 5G industrial IoT market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected] To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
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At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1-972-636-5056
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