Acceleration of IoT Adoption and Industrial Automation to create numerous market opportunity for 5G CPE Market, Says MRFR Analyst

Market Research Future (MRFR) has published on the “global 5G Customer Premises Equipment Market”

IoT refers to the network of interconnected devices and systems that communicate and exchange data, enabling automation, data analysis, and improved decision-making. The integration of 5G CPE devices with IoT technologies paves the way for advanced industrial automation and the realization of the Industry 4.0 vision.

Historically, the adoption of IoT in industries has been limited by the constraints of existing connectivity solutions. With the advent of 5G networks and the deployment of 5G CPE devices, the potential for IoT in industrial applications has expanded significantly.

For example, in manufacturing, 5G CPE devices enable real-time monitoring and control of machines and equipment on the factory floor. This allows for predictive maintenance, reducing downtime and optimizing productivity. It also enables the seamless integration of robots and autonomous systems, enhancing production efficiency and flexibility.

According to MRFR analysis 5G Customer Premises Equipment is predicted to reach USD 728.6 billion by 2032, registering a 37.2% CAGR during the forecast period, 2023–2032. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the next few years. The increasing virtualization across different industrial sectors and businesses has had a positive effect on accelerating the growth of the market. In addition, the increasing popularity of 5G network services for fastest internet penetration is another factor driving the growth of the market.

A rising demand for greater internet connectivity and wider network coverage is booming the market growth for 5G CPE. This CPE solution allows operators to install their 5G networks at the street level by allowing for flexible and high-density deployments of 5G NR cells in both urban and rural locations without depending on costly cable backup.

Furthermore, integration of 5G CPE devices with IoT is driving innovation and creating new business opportunities across various sectors. By harnessing the power of high-speed, low-latency connectivity, industries can unlock the full potential of IoT and industrial automation, leading to improved efficiency, productivity, and sustainability. The combination of 5G and IoT is revolutionizing traditional industries, fostering economic growth, and shaping the future of connected ecosystems.

Segmental Analysis

The scope of the global 5G Customer Premises Equipment has been segmented based on by Equipment Type, End-user.

Based on equipment Type, 5G Customer Premises Equipment market segmentation includes Modem, Router, Fixed Wireless Access (FWA) Gateway, Mobile Hotspot, Integrated Access Device, Extender/Repeater and Others.

Based on application, 5G Customer Premises Equipment market segmentation, includes High-Speed Internet Access, Smart Homes, Remote Work and Telecommuting, IoT Connectivity, VR and AR, Edge Computing, Security and Surveillance, Rural Broadband Connectivity and Others.

Based on End-user Vertical, the global 5G Customer Premises Equipment is segmented into education, government, industrial, IT & telecom, others. Telecom sector held a significant growth in the upcoming years.

Access full report @ https://www.marketresearchfuture.com/reports/5g-customer-premises-equipment-market-11937

Regional Analysis

Geographically, the global 5G Customer Premises Equipment has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa and South America.

Asia Pacific will continue to dominate along with faster growth rate or CAGR in upcoming period owing to the continuous development of technologies and presence of large number of manufacturers in the major countries like China, Japan, India. One of the primary motivations for telecom service providers rolling out 5G services in the Asia-Pacific area is the Industrial Internet of Things (IIoT). According to IDC in May 2023, around 12.4% of telecom carrier respondents in Asia-Pacific believe IIoT to be one of the top reasons for 5G rollout, this is expected to boost the market for 5G Customer Premises Equipment in future.

North America is also expected to account for significant market revenue share by end of forecast period. This is due to fact that, the rapid deployment of 5G technology in the US along with ascending development towards low latency operations with respect to Industry 4.0. For instance, in April 2021, Verizon launched 5G internet for businesses across 21 cities in the US. Verizon provided a 10-year price lock, no data limits, and options ranging from 100 Mbps to 400 Mbps in places such as Atlanta, Detroit, Las Vegas, and San Franciscoet for companies.

Key Players

The key players in the global 5G Customer Premises Equipment Ericsson, Fujitsu, Huawei Technologies Co., Ltd., Xiamen Yeastar Information Technology Co., Ltd., Askey Computer Corp, NETGEAR, Inseego Corp., Sercomm Corporation, WAVETEL TECHNOLOGY, TENCO, Four-Faith, Rohde & Schwarz, Shenzhen Wlink Technology Co., Ltd., iF Design.