5G Industrial IoT Market Expected to Generate Revenue of US$22.9 Billion by 2031, Globally, at a CAGR of 37.24%
Verified Market Research®, a leading provider of business intelligence and market analysis, is pleased to announce the release of its
comprehensive and authoritative report on “5G Industrial IoT Market Size and Forecast”. The global 5G Industrial IoT market is
driven by the growing adoption of Industry 4.0, the growing need for ultra-reliable low-latency communication, and real-time data analytics.
However, high infrastructure costs, complexity in integration with legacy systems, and cybersecurity threats are holding back the market growth.
According to a new report published by Verified Market Research®, the global 5G Industrial IoT market size is expected to grow at a
CAGR of 37.24% from 2024 to 2031. The report reveals that the market was valued at US$ 2.24 billion in 2024 and is expected to
reach US$ 22.9 billion by the end of the forecast period.
The 5G Industrial IoT market is transforming industries by enabling real-time monitoring, automation, and predictive maintenance.
As manufacturers adopt smart factory solutions, the need for fast, low-latency networks is driving the market globally.
Global 5G Industrial IoT Market Overview
Market Dynamics
Surge in demand for smart manufacturing and Industry 4.0: Real-time automation, robotics, and predictive maintenance are all being
accelerated significantly due to the integration of 5G into smart factories. This transformation is critical for organizations pursuing
Industry 4.0 goals, including significantly improving operational efficiency and minimizing downtime. This is driving the demand
for 5G-enabled Industrial IoT across markets worldwide.
Growing demand for Ultra-Reliable Low Latency Communication (URLLC): Sub-millisecond latency and excellent reliability are required
for industrial applications such as autonomous robots, remote machines, and training supported by augmented and virtual reality.
The URLLC characteristics that 5G possesses enable seamless, secure, and real-time communication. This makes it an essential enabler
for mission-critical industrial use cases and helps drive widespread adoption in the market.
Edge computing and real-time data analytics integration: In addition to enabling seamless edge computing, 5G also enables real-time
data processing at the source. On the manufacturing floor, this reduces latency and increases the amount of intelligent decision-making
that takes place there. As more and more industries move to data-centric operations and digital twins, 5G-enabled Industrial Internet of
Things is becoming increasingly important for scalable, agile, and responsive manufacturing environments.
ESOMAR Global Research will continue to update the latest news in the global market.
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