The Europe 5G Internet of Things Market would witness market growth of 68.6% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe 5G Internet of Things Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $27,067 million by 2031. The UK market is exhibiting a CAGR of 67.1% during (2024 - 2031). Additionally, The France market would experience a CAGR of 69.9% during (2024 - 2031).
Industrial 5G enables comprehensive tracking of goods in transit through IoT devices and sensors embedded in packages and shipping containers. Real-time monitoring allows businesses to respond instantly to disruptions, improving logistics efficiency and enhancing customer satisfaction. Industrial 5G supports smart grid technologies that manage and optimize energy distribution in the energy sector in real time. It enables decentralized energy management, integrating renewable energy sources, and real-time load balancing, leading to more sustainable energy consumption.
Furthermore, industrial 5G facilitates the operation of autonomous drones for various applications, including agricultural monitoring, infrastructure inspection, and delivery services. Drones can operate collaboratively in swarms, enhancing efficiency in crop monitoring and site surveys while enabling advanced data collection. Industrial 5G can connect equipment and vehicles in the mining sector for enhanced operational efficiency and safety. It allows for remote machinery control in hazardous environments, reducing risks to human workers and optimizing resource extraction processes.
Europe has been at the forefront of 5G deployments, enhancing connectivity to enable innovative IoT solutions in smart cities, energy management, transportation, and utilities. The European Commission has launched several programs, such as the 5G Action Plan for Europe, to ensure the coordinated rollout of 5G infrastructure across member states. By the year 2025, the goal is to complete the installation of uninterrupted 5G coverage in all urban areas and major transportation corridors. Moreover, the Horizon Europe program, a research and innovation initiative, has allocated substantial funding for projects focusing on 5G and IoT technologies. One notable example is the "5G-SMART" project, which explores the integration of 5G in smart manufacturing environments. Hence, this push for widespread 5G coverage, combined with strong public and private sector investments, is facilitating the growth of the market in Europe.
Free Valuable Insights: The Global 5G Internet of Things Market will Hit USD 474.4 Billion by 2031, at a CAGR of 69.3%
Based on Offering, the market is segmented into Solutions (Hardware and Software & Platform) and Services. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Network Type, the market is segmented into 5G Non-Standalone and 5G Standalone. Based on End User, the market is segmented into Manufacturing, Energy & Utilities, Transportation & Logistics, Healthcare, Agriculture, Government & Public Safety, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Offering
By Enterprise Size
By Network Type
By End User
By Country
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