Artificial Intelligence
5G Industrial IoT Market worth $15.7 billion by 2026, growing at a CAGR of 79.1% Report by MarketsandMarkets™
Chicago, Aug. 03, 2023 (GLOBE NEWSWIRE) — The global 5G Industrial IoT Market size to grow from USD 0.5 billion in 2020 to USD 15.7 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 79.1% during the forecast period, according to a new report by MarketsandMarkets™. 5G industrial IoT can be defined as an environment wherein complex industrial systems are networked together with the 5G technology in a way that their sensor data is transmitted over the internet for their remote monitoring and performance analysis.
Browse in-depth TOC on “5G Industrial IoT Market”
147 – Tables
55 – Figures
227 – Pages
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Scope of the Report
| Report Metric | Details |
| Market size available for years | 2020–2026 |
| Base year considered | 2020 |
| Forecast period | 2021–2026 |
| Forecast units | Value (USD Billion) |
| Segments covered | Component (Hardware, Solutions, Services), Organization Size, Application, End User and Regions. |
| Regions covered | North America, Europe, APAC, and RoW |
| Companies covered | Qualcomm Technologies, Inc. (US), Ericsson (Sweden), Nokia (Finland), Huawei Technologies Co., Ltd. (China), Cisco Systems (US), AT&T (US), IBM Corporation (US), Microsoft Corporation (US), Siemens AG (Germany), Verizon (US), Sierra Wireless (Canada) and many more. |
5G-enabled industrial IoT uses network-connected sensors and other monitoring devices to improve the manufacturing and quality of an organization’s products and their related parts. The 5G technology has stimulated the next wave of industrial automation in the manufacturing industry by enabling innovations, such as vision quality checks involving cameras, computer vision, and ML. Several organizations are determining how they can integrate this technology into their operations. Several vendors are also considering the creation of private 5G networks. Within factories and plants, the current connectivity options have major drawbacks that make it difficult to implement Industry 4.0 use cases. Wi-Fi networks often encounter interference, particularly dense settings and fixed connections are cumbersome and costly in large manufacturing environments.
5G-enabled Industrial Internet of Things (IIoT) is a concept that involves the integration of 5G into a single ecosystem. It uses real-time data analytics for performance monitoring and improved decision-making. 5G-enabled industrial IoT helps an integrated network of physical objects or things with 5G by exchanging data without any external intervention. It enables remote monitoring and controlling of machines, consumer appliances, and utilities. 5G industrial IoT in manufacturing operations is gaining traction with the advent of smart devices and advanced data analytics techniques. Manufacturing companies are deploying 5G-enabled industrial subsystems at a rapid pace and integrally focusing on increasing their business process efficiency and production output with the optimum resource utilization.
5G industrial IoT solutions and services offer manufacturing companies the benefit of digital disruption. With the growth of 5G, hundreds of manufacturers have connected thousands of machines across their global factories to IoT platforms, which helps manufacturers increase their capacity utilization and ultimately win more businesses to remain globally competitive in their concerned market. 5G industrial IoT solutions offer manufacturers tangible results in terms of a significant rise in operational productivity.
The scope of 5G industrial IoT market has widened over the years, with the the growth in data traffic due to the increasing number of IoT devices across manufacturing industries, increasing demand for high realibility and low latency networks in manufacturing industries, growth in number of M2M connections across manufacturing industries, and the rising need of preventive maintenance of critical equipment are some of the driving factors for the 5G industrial IoT market. There are immense opportunities for 5G industrial IoT vendors, which include the rising demand of private 5G network across the manufacturing industries and the rising development of smart infrastructure such as 5G-enabled factory. However, high costs required for the deployment of 5G network may restrain the market growth. Additionally, delay in spectrum harmonization across geographies, and issue related to deployment and coverage of 5G network may hamper the growth of the 5G industrial IoT market.
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Among the component segment, the hardware segment is leading the 5G industrial IoT market in 2020. Hardware is considered as the backbone of the 5G industrial IoT market. Several companies are creating standard and special purpose 5G modules by upgrading the existing 4G modules as the market is considered at the initial stage. The existing 4G LPWA modules will be made 5G compatible through software upgrades. Several organizations are creating new versions of the modules from scratch to increase energy efficiency and provide higher data rates.
Among organization size, the large enterprises segment is estimated to grow with the highest CAGR during the forecast period. Considering the comparatively higher budget allotted to IT solutions and services in large enterprises, the adoption of 5G industrial IoT is higher in this segment. Both large enterprises and SMEs across the manufacturing vertical need access to critical business information for optimizing resources and integration and management of the performance of IoT devices. 5G industrial IoT solutions and services play a vital role in these scenarios. They are majorly opted by large enterprises to integrate, monitor, and manage heterogeneous smart devices both inside and outside the manufacturing plant.
Among application, asset tracking and management segment lead the 5G industrial IoT market in terms of revenue during the forecast period. The 5G technology is expected to expand opportunities in manufacturing industries through asset tracking, monitoring, and automation capabilities on a large scale. This, in turn, will provide valuable and high-level insights into the performance of the organization’s assets and enable to take quick actions accordingly. 5G along with IoT can automate workforce management activities, such as scheduling tasks and assigning field resources and equipment to various employees on the respective manufacturing floor.
Among the end users, the discrete industries is expected to dominate the market in terms of growth rate. Discrete industries follow strict growth strategies for their manufacturing operations and focus on reducing operational costs leading to high use of IoT technology in their business operations. The 5G technology can provide much higher network capacity and lower latency for handling huge data traffic due to connected devices. This factor is expected to increase the adoption of 5G industrial IoT solutions in this segment in the near future. Discrete industries focus on improving the operational efficiency of machines to meet the increasing customer demands.
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APAC is one of the most prominent regions in the 5G industrial IoT market. APAC, being an emerging economy, is witnessing dynamic changes in the adoption of new technologies and expected to record the highest market size and CAGR during the forecast period. It is a diversified region that includes a wide range of countries moving toward digital transformation. The region is set to dominate 5G, edge computing, blockchain, and 5G core technology, due to its size, diversity, and the strategic lead taken by countries, including Singapore, South Korea, China, Australia, and Japan. Japan and China are the largest manufacturing economies that produce automobiles, IT products, and electronic products. The manufacturing paradigm has changed considerably with industry seeking advanced technologies, such as robotics and big data analytics becoming popular among them.
Top Trends in global 5G Industrial IoT Market
- Massive Adoption of 5G in Industrial Sectors: In order to fuel their IoT devices and apps, industries like manufacturing, transportation, energy, and agriculture are progressively embracing 5G technology. Smooth communication and real-time data transfer were made possible in these industrial settings by the ultra-low latency, high bandwidth, and stability of 5G networks.
- Industry 4.0 Transformation: The change brought forth by Industry 4.0 was greatly influenced by the combination of 5G and Industrial IoT. To optimise operations, boost automation, and boost overall efficiency, smart factories and networked industrial systems used 5G capabilities.
- Edge Computing for Industrial IoT: enabling edge computing with 5G grew in popularity in the Industrial IoT sector. Enterprises lowered latency and bandwidth utilisation by processing data closer to the source, enabling quicker and more responsive decision-making in crucial industrial applications.
- Private 5G Networks: A lot of significant businesses and industrial facilities investigated the use of private 5G networks. In order to meet particular industrial needs, these private networks provided additional control, security, and customization choices.
Key Industry Development
- Advancements in IoT Devices and Sensors: In order to improve data collecting and monitoring across multiple industrial processes, improved IoT devices and sensors continued to develop. These gadgets become more resilient to severe environments, cost-effective, and power-efficient.
- AI-Driven Analytics Solutions: The Industrial IoT ecosystem has progressively included artificial intelligence (AI) and machine learning technologies. With the aid of AI-driven analytics, businesses were able to make the most of the vast amounts of data that IoT devices produced by performing activities such as predictive maintenance, anomaly detection, and optimisation.
- Partnerships and Collaborations: To speed up innovation and develop end-to-end solutions for particular industries, businesses from all parts of the Industrial IoT value chain, including telecom providers, IoT platform vendors, and producers of industrial equipment, have forged strategic partnerships and collaborations.
- Focus on Industrial Cybersecurity: The attack surface for online threats expanded along with the number of connected devices. As a result, there was an increasing emphasis on creating reliable cybersecurity solutions catered to the unique requirements of Industrial IoT environments.
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Artificial Intelligence
TeraBox Celebrates 2nd Anniversary of Its Massively Popular Referral Program
Continuously expanding webmaster signups, especially in multiple regions, along with new highs in webmaster payouts, has ensured the smooth operation and continuous development of the project.
TOKYO, Sept. 21, 2024 /PRNewswire/ — TeraBox (“TeraBox” or “the Company”), a globally trusted cloud storage service headquartered in Tokyo, recently celebrated the second anniversary of its hugely popular Referral Program, a testament to the smooth operation and continuous development of the project. The number of webmaster signups, including in multiple new regions, continued to increase steadily with webmaster payouts reaching new highs.
TeraBox reveals some of its impressive Referral Program data.
TeraBox’s total number of webmasters worldwide reached over one million.The highest daily income of webmasters reached over $10,000, with the top earner making nearly $180,000.The total number of shares by all webmasters exceeds 500 million.The network of webmasters spans across the globe, including countries such as India, Indonesia, the United States, Latin America, Middle East, and South Korea. Moreover, as TeraBox’s influence continues to grow, the platform is excited to welcome many new webmasters from an expanding range of countries and regions.
TeraBox has achieved significant milestones, demonstrating its sustainable growth and increasing user impact. The journey started with the Webmaster Center launch in August 2022. Following this, several optimizations were implemented, including a self-withdrawal feature that simplified earnings management for webmasters and increased their engagement. Additionally, the Growth Analysis tool provided webmasters with valuable insights into their operational performance, enabling more effective decision-making.
As a result of these enhancements, both the number of participating webmasters and their earnings have seen remarkable increases. Looking ahead, the upcoming launch of the Webmaster App in September 2024 is set to further elevate user engagement and convenience, solidifying TeraBox’s position as an industry leader.
About TeraBox
TeraBox, developed by Flextech Inc. in Japan, is a leading global cloud storage solution. Headquartered in Tokyo, TeraBox proudly serves over 320 million users globally, providing an easy yet powerful way to store and manage data. With its generous 1TB of free storage, TeraBox ensures that your files are safe, secure, and accessible from anywhere. As a secure, reliable, and convenient service, TeraBox is certified with ISO 27001, ISO 27701, and ISO 27018, offering individual users around the world the opportunity to register for 1TB (1024GB) of free storage.
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SHANGHAI, Sept. 20, 2024 /PRNewswire/ — During HUAWEI CONNECT 2024, Huawei Cloud hosted a Summit themed “One Step to Intelligence, One Leap to Excellence”, gathering global industry leaders to explore the intelligent transformation trend, share pioneering cases, and assist customers in their journey to cloud-based operational excellence. At the summit, Huawei Cloud and global customers, unveiled the Data Center-to-Cloud solution and the PRIME Framework white paper.
Jacqueline Shi, President of Huawei Cloud Global Marketing and Sales Service, said: “Customers’ support enables us to innovate with finance, retail, autonomous driving, the Internet and many other sectors. By combining cutting-edge technologies with industry know-how, Huawei Cloud paves your way to digital and intelligence.”
Kevin Gao, President of Huawei Cloud Public Cloud Business, presented a keynote speech “One Step to Intelligence, One Leap to Excellence”. He outlined three critical factors for accelerating cloud migration and AI use: global infrastructure, continuous technological innovation, and lean operations.
In terms of global infrastructure, Huawei Cloud’s global infrastructure, KooVerse, offers extensive coverage, exceptional experience, and excellent quality. With 33 Regions and 93 Availability Zones (AZs) worldwide, Huawei Cloud supports over 10,000 customers in achieving business globalization. Huawei Cloud has interconnected with over 2,400 peers of global carriers, ensuring one hop to cloud and global business deployment for customers. Huawei Cloud data centers achieve Tier IV reliability.
Technological innovation is at the heart of Huawei Cloud’s mission to accelerate enterprise transformation. At this summit, three key areas were highlighted: compute upgrade, data-AI convergence, and application innovation.
The Data Center-to-Cloud solution released by Gao offers data center facilities, intelligent O&M, and DCN as a service, allowing customers to easily relocate and run dedicated compute resources on Huawei Cloud.
Huawei Cloud’s Ascend AI Cloud Service enables training jobs to run non-stop up to 40 days, shortens the fault recovery time to 10 minutes, and increases the linear scalability to 90% (the industry average are 2.8 days, 60 minutes, and 80%, respectively).
Huawei Cloud’s deterministic operations system has been adopted by over 300 global customers, maintaining a strong security record with zero intrusions and zero data breaches.
DeFacto from Türkiye leverages Huawei Cloud’s cloud native solution with Cloud Container Engine (CCE) and streamlines their services.
Huawei Cloud helps Chery to deploy, use, and manage the cloud. Currently, Huawei Cloud nodes in more than 10 countries and regions are providing services for Chery.
NavInfo has adopted Huawei Cloud’s R&D expertise and CodeArts software development pipeline to establish efficient development management standards and efficiency measurement systems.
Kingsoft and Huawei Cloud have collaboratively developed an excellence framework to optimize cost management.
Tencent Music’s Tianqin Lab has developed the MUSELight AI model acceleration framework, utilizing Huawei Cloud’s Ascend AI Cloud Service.
At the end of the summit, Huawei Cloud and global customers jointly released the Enterprise Excellence PRIME Model White Paper. This white paper offers a reference framework for enterprises to leap to excellence with digital and intelligent technologies.
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Artificial Intelligence
Autonomous Mobile Robots (AMR) Market to cross $10 Billion TAM with around 500K AMRs shipment by 2030 – LogisticsIQ
NEW DELHI, Sept. 20, 2024 /PRNewswire/ — The global Autonomous Mobile Robots (AMRs) market is poised for significant growth, driven by increasing demand for automation across various sectors, including logistics, manufacturing, and healthcare. According to the latest market research by LogisticsIQ (5th Edition), Autonomous Mobile Robots (AMR) Market to cross $10 Billion TAM by 2030 with a CAGR of ~30% between 2024 and 2030. We expect the installed base of AMRs to reach 2 million units in 2030.
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Key Market Drivers
Increased Efficiency: Businesses are rapidly adopting AMRs to enhance operational efficiency, reduce labour costs, and streamline workflows.Labor Shortages: The ongoing labour shortages in various industries have accelerated the need for automated solutions, making AMRs a crucial investment for companies.Technological Advancements: Innovations in artificial intelligence (AI), machine learning, and sensor technology are making AMRs more capable and reliable.Growing E-Commerce: The rise of e-commerce has created a demand for efficient warehouse management solutions, further boosting the AMR market.Regional Insights
North America leads the AMR market, accounting for the largest share due to the early adoption of automation technologies. Meanwhile, the Asia-Pacific region, especially China is expected to witness the fastest growth, fuelled by rapid industrialization and increasing investments in smart factories. US and China are going to contribute ~40% of this market by 2030.
Industry Applications
Autonomous mobile robots are being utilized in various applications, including:
Warehouse Automation: AMRs enhance inventory management and order fulfillment processes. This industry is expected to lead with more than 75% share by 2030.Manufacturing: Robots facilitate material handling and assembly line operations. Traditionally, it has been dominated by AGVs but are getting replaced by AMRs due to more flexibility and scalability features.Healthcare: AMRs assist in transporting medical supplies, improving patient care and operational efficiency. It is a niche market but high growing area to focus further.Purchase the full report on the Autonomous Mobile Robots Market – Growth, Trends, and Forecast
Top Factors & Challenges in the Autonomous Mobile Robots Market
Top Factors Driving Growth
Increased Demand for Automation: Businesses across industries are increasingly seeking automation to enhance efficiency and reduce operational costs.Technological Advancements: Innovations in AI, machine learning, and sensor technologies improve the capabilities and reliability of AMRs, making them more attractive to businesses.Labor Shortages: Ongoing labour shortages, especially in sectors like logistics and manufacturing, are pushing companies to adopt AMRs to maintain productivity.Growth of E-Commerce: The surge in online shopping requires efficient warehouse and logistics solutions, driving the adoption of AMRs for inventory management and order fulfillment.Improved Safety Standards: AMRs can reduce workplace accidents by taking over hazardous tasks, leading to safer working environments.Customization and Scalability: Many AMR solutions offer customizable features that allow businesses to scale operations according to their specific needs.Top Challenges
High Initial Costs: The upfront investment for AMRs can be substantial, which may deter smaller businesses from adoption.Integration with Existing Systems: Integrating AMRs into current operational workflows and legacy systems can be complex and resource-intensive.Regulatory Compliance: Navigating regulatory requirements and safety standards can pose challenges, especially in highly regulated industries.Limited Awareness and Understanding: Some businesses may lack knowledge about AMR technology and its potential benefits, hindering adoption.Technical Limitations: While technology is advancing, AMRs may still struggle with navigating complex environments or handling unexpected obstacles.Cybersecurity Concerns: As AMRs become more connected, they may be vulnerable to cybersecurity threats, requiring robust security measures.Know more about Autonomous Mobile Robots Market – Top Players, Cost Analysis, Competition, and Customer Expectation
What will you get in this report?
500 Pages and 160+ Exhibits Market ReportRevenue and Shipment data segmented:By form factor (Deck-load, Tugger/Pull, Forklift)By Navigation (Tape/Wire/Magnet, Reflector, QR Codes, LiDAR, Camera, Sensor, Fusion)By Function (Goods to person (G2P), Person to Goods (P2G), Conveying, Piece picking, Towing, Pallet Handling)By Application (Manufacturing, Logistics and Warehousing, Shipping, Delivery, Cleaning, Security, Hospital, Retail)Detailed excel file with 150+ market tables (Revenue and Shipment) including forecast till 2030A bottom-up analysis of Autonomous Mobile Robots Market for 19 countries (United States, Canada, Germany, UK, France, Italy, Spain, Nordics, China, Japan, South Korea, Australia, India, Taiwan, Thailand, Malaysia, Singapore, Indonesia, Phillippines) in 5 regionsIn-depth analysis of 700 companies in the ecosystem with more than 160 company profiles.Focus Group Discussion with 100+ key industry stakeholders across the value chain to collect the first-hand information to validate our analysis. Stakeholders include components and technology providers, system integrators, robot manufacturers (OEM/ODM), robotic software & service providers, and end-user industry verticals. Apart this, study also focuses on different components and integral parts of Autonomous Mobile Robots like Motion Control, Batteries & Chargers, Cameras / Vision Sensor, LiDAR, Sensor Fusion, QR Code and Wireless Communication.2 Analyst Sessions to brainstorm furtherInvestment details excel file with 175+ M&A and ~1000 funding dealsLogisticsIQ™ Exclusive Market Map (700+ Players across more than 15 categories)About LogisticsIQ
LogisticsIQ is a dedicated market research and advisory firm in Logistics & Supply Chain sector, empowering decision makers from top fortune 1000 companies, financial and research institutions, private equity and high potential start-ups with market insights to make better decisions. We enable this by analysing the right mix of the best data, the best research methodologies, and the best industry panel to deliver value to our clients.
Media Contact
Name: Sunny M.Email: [email protected]: +91-952-918-4938
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