Europe 5G in IoT Market Key Players like: show consistent growth in the forecasts upto 2024
The Europe 5G in IoT market accounted for US$ 322.4 Mn in 2019 and is expected to grow at a CAGR of 22.9% over the forecast period 2019-2027, to account for US$ 1,679.8 Mn by 2027. With the constant and steep increase in the use of mobile phones, mobile data generation is set to witness a sharp rise in the coming years. The growth is proliferated through technological advances such as IoT and 4G networks. The mobile data traffic continues to rise across the region. Apart from North America, Europe captures a large share of data traffic volume, compared to the remaining major regions. This is ascribed to high penetration of devices such as smartphones and well-built LTE networks, complemented by the reasonable package rates of huge data volumes. The already consumption of services, including videos and applications such as AR and VR, is anticipated to become more dominant with the introduction of 5G technology during the forecast period. Populous markets such as Europe that are early with 5G network implementation are expected to be the prominent contributor to data traffic growth. According to the Ericsson mobility report, mobile data traffic in Europe is predicted to reach 14 EB per month by 2024. Thus, above factors drives the Europe 5G in IoT market.
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The advent of IoT has enabled each device to be connected over the internet, and the rising adoptions in Europe would result in more than billions of devices connected over the internet. These devices are bound to generate huge amounts of data. In addition to the growth in mobile broadband data, Fixed Wireless Access, Massive IoT, and Critical IoT are expected to emerge as completely new use cases. These evolutions would further increase data traffic. Handling an exponential surge in the data traffic over the internet, coupled with a rising number of devices, is presenting a major challenge for the existing network infrastructures of 4G LTE and 3G. The capabilities of the existing network infrastructures have propelled the telecommunication service providers and carrier operators, along with various telecommunication bodies across the region, to develop a standard that would support this splurge of data. As 5G operates over a very-high-frequency spectrum, it enables the connection of a large number of devices over the network. Therefore, with the increase in mobile data traffic, demand for the deployment of 5G would increase rapidly which further helps to boost Europe 5G in IoT market.
Europe counts as one of the potential regions across the globe due to its spending on research and development of IT infrastructure and continuous focus on implementing most advanced technologies in order to stay updated. In the region, 5G networks is already launching also Europe is highly focused toward the IoT, as the field that would benefit the most also, 5G would be used in IoT that would transform the IoT industry. Europe has highly emphasized on taking substantial steps to lead in developments towards this strategic technology. Big giants in the region are engaged toward launching the 5G network for better speed and efficiency. For instance, Vodafone Group Plc, a British Telecommunications company announced that it would launch 5G commercially in 2019 in the operating countries of Europe where licenses for spectrum in the 3.4-3.8GHz range have been awarded, such as the U.K and Italy. Therefore, focus in marketing strategies by the companies is expected to boost the Europe 5G in IoT market.
Being the advanced region, Europe is involved in investing various IoT projects to implement smart cities and other projects across the region. According to 5G Americas, the top three IoT projects in 2018 were smart cities, connected buildings, and connected industry. From a regional viewpoint, nearly half of the smart city projects were in Europe i.e., 45%. European Union is spending in 5G research and standards to support the traffic volume anticipated by 2025 also to improve Internet architectures and networks in developing areas such as the IoT and Machine-to-Machine (M2M) communication. 5G standard is one of the priority areas under the Digitizing European Industry initiative, which was launched in April 2016.
The Europe 5G in IoT market is segmented based on radio technology, device range, and end-user industry. Based on the radio technology, the Europe 5G in IoT market is segmented into 5G NR standalone architecture and 5G NR non-standalone architecture. Based on device range, the Europe 5G in IoT market is bifurcated into the short range IoT devices and wide range IoT devices. Based on end-user industry, the Europe 5G in IoT market is bifurcated into manufacturing, energy and utilities, government, healthcare, transportation and logistics, mining, and others.
The well-established market players operating in the Europe 5G in IoT market are AT&T Inc., BT Group Plc, Huawei Technologies Co., Ltd, Nokia Corporation, Qualcomm Corporation, Singapore Telecommunications Limited (Singtel), Telefonaktiebolaget LM Ericsson, TelefĂłnica S.A., Telstra Corporation Limited, and Vodafone Group PLC.
The overall Europe 5G in IoT market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Europe 5G in IoT market. It also provides an overview and forecast for the Europe 5G in IoT market based on all the segmentation provided for the Europe region. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the 5G in IoT industry.
Europe 5G in IoT Market Report give depth study of current situation of the industry. Europe 5G in IoT Manufacturers are valuable source of guidance and direction for companies and individuals interested in the Industry.
The Players Mentioned in our report are: The List of Companies
1. AT&T Inc.
2. BT Group Plc
3. Huawei Technologies Co., Ltd
4. Nokia Corporation
5. Qualcomm Corporation
6. Singapore Telecommunications Limited (Singtel)
7. Telefonaktiebolaget LM Ericsson
8. TelefĂłnica S.A.
9. Telstra Corporation Limited
10. Vodafone Group PLC
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Table of Content Chapter 1 about the Europe 5G in IoT
Chapter 2 World Market Competition Landscape
Chapter 3 Europe 5G in IoT Market share
Chapter 4 Supply Chain
Chapter 5 Company Details
Chapter 6 Globalization & Trade
Chapter 7 Distributors and Customers
Chapter 8 Consumption Forecast by Major Regions
Chapter 9 Europe 5G in IoT Market Forecast through 2024
Chapter 10 Key Success Factors and Market Conclusion
TO BE CONTINUED…
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Europe 5G in IoT market based on product and application. It also provides market size and forecast till 2024 for overall Europe 5G in IoT market with respect to five major regions, namely; North America, Europe, Asia-Pacific, Rest of the World, which is later sub-segmented by respective countries and segments. The report evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend and provides exhaustive PEST analysis for regions.
Also, key Europe 5G in IoT market players influencing the market are profiled in the study along with their SWOT analysis and market strategies. The report also focuses on leading industry players with information such as company profiles, products and services offered.