Industrial 5G Market Exclusive Report | Worth to Reach $140.88 billion by 2030

Industrial 5G Market

Industrial 5G Market

The outbreak of the COVID-19 pandemic has driven the global Industrial 5G Market to exhibit further rise in 2021.

PORTLAND, PORTLAND, OR, UNITED STATE, November 12, 2021 /EINPresswire.com/ -- Increase in demand for high latency and low latency network among various industries, rise in M2M connections across various industries, and demand for next-generation telecommunication network service among enterprises drive the growth of the global industrial 5G market.

However, high implementation cost of 5G solutions hinders the market growth. On the other hand, development of smart infrastructure such as 5G-enabled facility and adoption of IoT-based 5G infrastructure across various enterprises present new opportunities in the coming years.

According to the report published by Allied Market Research, the global industrial 5G market generated $12.47 billion in 2020, and is estimated to garner $140.88 billion by 2030, witnessing a CAGR of 27.5% from 2020 to 2030.

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Leading players of the global industrial 5G market analyzed in the research include AT&T, Huawei Technologies Co., Ltd., Ericson, Nokia, NEC Corporation, Samsung, Qualcomm Technologies, Inc., Verizon Communications Inc., SK Telecom, and ZTE Corporation

Impact of Covid-19 on Industrial 5G Market:

The adoption of industrial 5G among the discrete manufacturing industries increased with implementation of next-generation telecommunication solutions to enable excellent communication channels between the types of machinery and streamline the product development process.

• The implementation of 5G-enabled communication service providers (CSPs) among enterprises rose rapidly to deliver new sets of services and deploy their own 5G infrastructure. However, 5G deployment plans have been delayed or postponed during the lockdown.

• Increase in implementation of industrial automation across various industry verticals such as manufacturing, retails & e-commerce, oil & gas, healthcare, and others surged the demand for industrial 5G.

The report offers detailed segmentation of the global industrial 5G market based on component, enterprise size, end user, discrete industries type, communication type, and region.

Based on component, the hardware segment held the highest share in 2020, contributing to more than half of the total share, and is estimated to maintain its lead position during the forecast period. However, the software segment is projected to witness the highest CAGR of 30.0% from 2021 to 2030.

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Based on end user, the discrete industries segment contributed to the highest market share in 2020, accounting for more than two-thirds of the global industrial 5G market, and is projected to maintain its leadership status throughout the forecast period. However, the process industries segment is expected to portray the fastest CAGR of 28.5% from 2021 to 2030.

Based on region, North America accounted for the largest share in terms of revenue in 2020, contributing to nearly two-fifths of the total market share, and is projected to continue its dominant share by 2030. However, Asia-Pacific is estimated to register the largest CAGR of 29.1% during the forecast period.

Highlights of the report:

1. Comprehensive assessment of all opportunities and risk in the global market.
2. Industrial 5G Market recent innovations and major events.
3. Detailed study of business strategies for growth of the Industrial 5G Market leading players.
4. Conclusive study about the growth plot of Industrial 5G Market for forthcoming years.
5. In-depth understanding of Industrial 5G Market-particular drivers, constraints and major micro markets.
6. Favourable impression inside vital technological and market latest trends striking the Industrial 5G Market

Related Reports:

1. Small Cell 5G Network Market

2. 5G Monetization Market

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Analytics LLP
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