The North America Industrial 5G Market is expected to witness market growth of 26.3% CAGR during the forecast period (2024-2031).
The US market dominated the North America Industrial 5G Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $34.05 billion by 2031. The Canada market is experiencing a CAGR of 27.8% during 2024-2031. Additionally, the Mexico market would exhibit a CAGR of 27.5% during 2024-2031.
This technology is poised to facilitate various applications that enhance operational efficiency and drive innovation. This enables the creation of digital twins - virtual replicas of physical assets or processes. Organizations can simulate performance, test scenarios, and optimize operations by connecting real-time data from sensors to digital models. Digital twins facilitate predictive analytics, allowing companies to foresee potential failures and optimize maintenance schedules, significantly enhancing operational efficiency.
Also, this can revolutionize warehousing by enabling real-time inventory tracking and automated systems for sorting and packing. Using autonomous vehicles, drones, and robotic systems within smart warehouses optimizes space utilization and significantly reduces order processing times. Field service technicians can use this to access real-time data, videos, and remote assistance tools while working in the field.
The increasing aerospace sector in Canada is significantly impacting this market, driven by substantial government investment and a commitment to technological advancement. The Government of Canada has allocated a total budget. Moreover, the aerospace sector increasingly relies on smart manufacturing techniques, which utilize connected devices and automation to streamline production. The increasing adoption of autonomous vehicles in the United States is set to have a substantial impact on this market. According to the National Association of Insurance Commissioners, it is projected that there will be 3.5 million self-driving vehicles on U.S. roads by 2025 and 4.5 million by 2030. This trend aligns with a broader global forecast that predicts 75% of cars on the roads will be autonomous by 2040. In conclusion, the increasing aerospace sector in Canada and the rising prevalence of autonomous vehicles in the United States is poised to impact this market significantly.
The US market dominated the North America Industrial 5G Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $34.05 billion by 2031. The Canada market is experiencing a CAGR of 27.8% during 2024-2031. Additionally, the Mexico market would exhibit a CAGR of 27.5% during 2024-2031.
This technology is poised to facilitate various applications that enhance operational efficiency and drive innovation. This enables the creation of digital twins - virtual replicas of physical assets or processes. Organizations can simulate performance, test scenarios, and optimize operations by connecting real-time data from sensors to digital models. Digital twins facilitate predictive analytics, allowing companies to foresee potential failures and optimize maintenance schedules, significantly enhancing operational efficiency.
Also, this can revolutionize warehousing by enabling real-time inventory tracking and automated systems for sorting and packing. Using autonomous vehicles, drones, and robotic systems within smart warehouses optimizes space utilization and significantly reduces order processing times. Field service technicians can use this to access real-time data, videos, and remote assistance tools while working in the field.
The increasing aerospace sector in Canada is significantly impacting this market, driven by substantial government investment and a commitment to technological advancement. The Government of Canada has allocated a total budget. Moreover, the aerospace sector increasingly relies on smart manufacturing techniques, which utilize connected devices and automation to streamline production. The increasing adoption of autonomous vehicles in the United States is set to have a substantial impact on this market. According to the National Association of Insurance Commissioners, it is projected that there will be 3.5 million self-driving vehicles on U.S. roads by 2025 and 4.5 million by 2030. This trend aligns with a broader global forecast that predicts 75% of cars on the roads will be autonomous by 2040. In conclusion, the increasing aerospace sector in Canada and the rising prevalence of autonomous vehicles in the United States is poised to impact this market significantly.
List of Key Companies Profiled
- AT&T Inc.
- Ericsson AB
- Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
- NEC Corporation
- Nokia Corporation
- Qualcomm Incorporated (Qualcomm Technologies, Inc.)
- Samsung Electronics Co., Ltd. (Samsung Group)
- ZTE Corporation
- Siemens AG
- Robert Bosch GmbH
Market Report Segmentation
By End User- Discrete Industries
- Automotive & Transportation
- Industrial Machinery & Heavy Equipment
- High-Tech & Consumer Electronics
- Consumer Electronic Devices
- Laptops, Mobile Devices & PCs
- Wearables
- Televisions
- Other Consumer Electronic Devices Types
- Semiconductor & IT Equipment
- Consumer Electronic Devices
- Aerospace & Defense
- Other Discrete Industries Type
- Process Industries
- Large Enterprises
- SMEs
- Hardware
- Software
- Services
- URLLC
- eMBB
- MMTC
- FWA
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. North America Industrial 5G Market by End User
Chapter 6. North America Industrial 5G Market by Enterprise Size
Chapter 7. North America Industrial 5G Market by Offering
Chapter 8. North America Industrial 5G Market by Communication Type
Chapter 9. North America Industrial 5G Market by Country
Chapter 10. Company Profiles
Companies Mentioned
Some of the key companies profiled in this North America Industrial 5G Market include:- AT&T Inc.
- Ericsson AB
- Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
- NEC Corporation
- Nokia Corporation
- Qualcomm Incorporated (Qualcomm Technologies, Inc.)
- Samsung Electronics Co., Ltd. (Samsung Group)
- ZTE Corporation
- Siemens AG
- Robert Bosch GmbH
Methodology
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