How will 5G enabled IIoT dominate in the coming years?
Global 5G enabled IIoT market will reach $314.6 billion by 2030, growing by 26.9% annually over 2020 to 2030. The shipment of 5G enabled IIoT devices is expected to advance to 189.2 million units in 2030 driven by the fast-growing 5G deployment and its industrial applications.
Benefits: There is a tremendous revolution when 5g combined with IoT
- It helps in collection the real data, which helps in improving the quality control.
- Tracking and tracing will be very easier with IoT enabled sensors.
- Remote monitoring will be very effective.
- Predictive analysis
- Improves Productivity
- Reduce human errors and many more
Top Key Players in 5G Enabled Industrial IoT market are AT&T, Broadcom Corporation, China Mobile, Cisco Systems, Deutsche Telekom, Ericsson, Fujitsu, Huawei Technologies, Intel, KT, LG Electronics, LG Uplus, NEC.
Huge Application of 5G Enabled Industrial IoT based on different industry verticals, is segmented into:
- Energy and Power
- E-commerce and Retail
- Other Verticals
5G Enabled Industrial IoT, provides huge advantages in terms of:
- Remote Monitoring & Management
- Autonomous Robots
- Connectivity Solutions
- Infrastructure Solutions
- Interoperability Testing & Measurement
- AI-based Solution
- Data Analytics & Visualisation
- Other Applications
Some examples, we see agriculture benefitting through the use of Unmanned Aerial Vehicle (UAV) operation over 5G networks due to ultra-low latency and high capacity availability. In a more traditional IIoT environment such as manufacturing, 5G in IoT market capabilities as key to providing ultra-reliable communications for many time-sensitive communications processes such as the need to obtain measurements from a boiler or other equipment.
Smart grids will manage energy loads more efficiently. 5G and IoT can improve the retail shopping experience by making it more personalised and contextual.