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5G IoT Market is Expected to Grow from USD 12.96 Billion 2023 to reach USD 136.18 Billion in 2031 | SkyQuest Technology

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WESTFORD, Mass., July 1, 2024 /PRNewswire/ — According to SkyQuest, global 5G IoT Market size was valued at USD 8.53 Billion in 2022 and is poised to grow from USD 12.96 Billion in 2023 to USD 136.18 Billion by 2031, growing at a CAGR of 34.12% in the forecast period (2024-2031).

The use of 5G connectivity technology to connect Internet of Things (IoT) devices refers to the 5G IoT market. The growing deployment of 5G networks around the world and high investments in the development of new 5G infrastructure is setting the tone for 5G IoT market development going forward. The market is still in its nascent stages and investing in the right segment will work wonders for any 5G IoT company looking to make a mark in this market. The global 5G IoT market is segmented into component, network architecture, type, organization size, end user, and region.

Download a detailed overview:

https://www.skyquestt.com/sample-request/5g-iot-market

5G IoT Market Overview:  

Report Coverage  

Details  

Market Revenue in 2023  

$ 12.96 billion  

Estimated Value by 2031  

$ 136.18 billion  

Growth Rate  

Poised to grow at a CAGR of 34.12%  

Forecast Period  

2024–2031  

Forecast Units  

Value (USD Billion)  

Report Coverage  

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends  

Segments Covered  

Components, Type, End-User, Network Architecture, and Organization Size

Geographies Covered  

North America, Europe, Asia Pacific, Middle East & Africa, Latin America 

Report Highlights  

Updated financial information / product portfolio of players  

Key Market Opportunities  

Growing demand for Development of smart infrastructure (i.e., smart cities and smart buildings) 

Key Market Drivers  

Increasing Adoption of Wireless Technologies is a driving factor of market expansion 

Segments Covered in the 5G IoT Market are as follows:

ComponentsHardware, Platform, Services (Professional Services (Consulting, Deployment and Integration, Support and Maintenance), Managed Services)TypeShort-Range IoT Devices (Range up to 100 meter), Wide-Range IoT Devices (Range more than 100 meter)End-UserManufacturing (Industrial Automation, Predictive Maintenance, Asset Monitoring), Healthcare (Remote Patient Monitoring, Connected Ambulance, Asset Tracking For Medical Devices, Connected Medical Devices), Energy and Utilities (Smart Grid, Smart Meter, Pipeline Management), Automotive and Transportation (Fleet Management/Telematics, Connected Car, Autonomous Vehicle), Supply Chain and Logistics (Asset Tracking, Inventory Management, Logistics and Warehouse Automation), Agriculture (Precision Farming, Livestock Monitoring, Asset Tracking), Government and Public Safety (Smart Parking, Smart Street Lighting, Water and Waste Management, Public Safety and Surveillance, Environment Monitoring), Other End Users (Retail, Smart Building, Education)Network Architecture5G Non-Standalone, and 5G StandaloneOrganization SizeLarge Enterprises, Small and Medium-Sized Enterprises

Request Free Customization of this report:

https://www.skyquestt.com/speak-with-analyst/5g-iot-market

New Arrival of 5G Network Boosts Demand for Novel Hardware Components

5G is a very new connectivity technology and the infrastructure for this technology is not yet fully built. Any company looking to make a mark in the 5G IoT market should focus on the development of 5G IoT hardware and infrastructure. High investments in the research and development of novel 5G-specific hardware and growing sales of hardware components as companies invest in 5G infrastructure are also helping this segment account for a notable market share.

As 5G technology develops and becomes common, the need for 5G IoT services will also increase over time. This is why 5G IoT companies looking to play the long game should start developing 5G IoT services to get a head start on the competition. Maintenance, support, and security are projected to be key services that 5G IoT market players should target in the future.

View report summary and Table of Contents (TOC):

https://www.skyquestt.com/report/5g-iot-market

Large Enterprises Take Initiative in 5G Adoption Backed by their Immense Capital Resources

Large enterprises are expected to lead the adoption of 5G IoT devices and services around the world. High spending potential of these establishments allows them to gain access to this relatively new and expensive 5G IoT technology. The growing emphasis of different multinational corporations on incorporating automation in their operations and workflow will help this segment maintain its dominance in the long term.

Increase in affordability of 5G IoT products and services in the future will surely open the doors of small and medium enterprises (SMEs) for market players. Subscription-based 5G IoT models will be highly coveted amongst SMEs over the coming years and new companies have immense scope for growth in this segment.

Trend of Connected Vehicles Makes Automotive Industry Highly Opportune for 5G IoT Companies

The automotive industry is forecasted to be highly opportune for 5G IoT companies as the demand for better connectivity in vehicles increases. Requirement of connectivity for navigation and other applications in a vehicle is what is projected to promote the adoption of 5G IoT in the automotive space. The manufacturing industry will also be greatly impacted by the high adoption of 5G IoT owing to the rise of automation and the adoption of smart manufacturing practices. Increasing demand for smart infrastructure development and growing smart cities are also slated to uplift the sales of 5G IoT products in the long run.

The global 5G IoT market is highly opportune no matter which segment a company invests in. However, new companies should focus on innovation to make a bigger impact and compete with established market players.

Related Reports:

Internet Of Things (IoT) Market

IoT Sensors Market

IoT Security Market

IoT In Healthcare Market

Industrial Internet Of Things (IIoT) Market

About Us:

SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.

We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific. 

Contact: 
Mr. Jagraj Singh
Skyquest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: mailto:sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/

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BASX Hosts Ribbon-Cutting Ceremony for New State-of-the-Art Weld Shop

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REDMOND, Ore., Sept. 19, 2024 /PRNewswire/ — BASX (“BASX” or the “Company”), a leader in the manufacturing of high-efficiency data center cooling solutions, cleanroom systems, and custom HVAC systems, is proud to announce the official ribbon-cutting ceremony for its newly completed 36,000-square-foot weld shop. The Redmond Chamber of Commerce performed the ribbon cutting on September 18th, 2024, at BASX headquarters.

The weld shop will create significant job opportunities in the Central Oregon region, with the capacity to fill an additional 30 welding positions. Positions range from entry-level to experienced roles, with professional opportunities in various growing departments within the Company.

“This new facility is a major investment not just in our company, but in the future of Central Oregon,” said Dave Benson, AAON VP and BASX President. “We can now deliver even higher levels of quality and efficiency while providing more job opportunities for the community. We’re proud to support local manufacturing growth and look forward to seeing the impact this expansion will have on both BASX and the region.”

The new shop marks a major expansion in the Company’s production capabilities, introducing state-of-the-art welding technology within a climate-controlled environment. Equipped with advanced air filtration systems, including an AAON make-up air unit and multiple air scrubbers, the shop ensures exceptional air quality for its workers. The space also features two 5-ton overhead cranes and six ½-ton cantilever jib cranes, allowing for efficient movement of materials across the facility.

A key highlight of the facility is its cutting-edge tube laser, capable of precision cutting and profiling round and square tubes, as well as C-channel and I-beam profiles up to 27 feet in length. Additionally, a 75-foot-long dual-zone robotic welding cell is scheduled to be installed and operational in early 2025, enabling the welding of large subassemblies up to 10 tons.

The shop’s innovative capabilities will support the Company’s growth and solidify its position for ongoing expansion. In addition to the 30 new welding jobs, BASX is actively hiring across various departments to support its continued success. To learn more about available positions and apply, visit the BASX careers page at www.basxsolutions.com/careers.

About BASX
Founded in 2014 in Central Oregon, BASX is an industry leader in the manufacturing of high-efficiency data center cooling solutions, cleanroom systems, custom HVAC systems, and modular solutions. Acquired by AAON in 2021, BASX continues to focus on quality, innovation, and state-of-the-art technology. The Company is proud to display the Made-in-America emblem on all its products. For more information, please visit www.basx.com.

Contact Information
Christina Lattanzio
Marketing Manager
(918) 508-9272
Email: Marketing@basx.com

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SOURCE AAON

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NASA Sets Coverage for Astronaut Tracy C. Dyson, Crewmates Return

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WASHINGTON, Sept. 19, 2024 /PRNewswire/ — NASA astronaut Tracy C. Dyson, accompanied by Roscosmos cosmonauts Nikolai Chub and Oleg Kononenko, will depart from the International Space Station aboard the Soyuz MS-25 spacecraft, and return to Earth.

Dyson, Chub, and Kononenko will undock from the orbiting laboratory’s Prichal module at 4:37 a.m. EDT Monday, Sept. 23, heading for a parachute-assisted landing at 8 a.m. (5 p.m. Kazakhstan time) on the steppe of Kazakhstan, southeast of the town of Dzhezkazgan.

NASA’s live coverage of return and related activities will stream on NASA+ and the agency’s website. Learn how to stream NASA content through a variety of platforms, including social media.

A change of command ceremony also will stream on NASA platforms at 10:15 a.m. Sunday, Sept. 22. Kononenko will hand over station command to NASA astronaut Suni Williams for Expedition 72, which begins at the time of undocking.

Spanning 184 days in space, Dyson’s mission includes covering 2,944 orbits of the Earth and a journey of 78 million miles. The Soyuz MS-25 spacecraft launched March 23, and arrived at the station March 25, with Dyson, Roscosmos cosmonaut Oleg Novitskiy, and spaceflight participant Marina Vasilevskaya of Belarus. Novitskiy and Vasilevskaya were aboard the station for 12 days before returning home with NASA astronaut Loral O’Hara on April 6.

Kononenko and Chub, who launched with O’Hara to the station on the Soyuz MS-24 spacecraft last September, will return after 374 days in space and a trip of 158.6 million miles, spanning 5,984 orbits.

Dyson spent her fourth spaceflight aboard the station as an Expedition 70 and 71 flight engineer, and departs with Kononenko, completing his fifth flight into space and accruing an all-time record 1,111 days in orbit, and Chub, who completed his first spaceflight.

After returning to Earth, the three crew members will fly on a helicopter from the landing site to the recovery staging city of Karaganda, Kazakhstan. Dyson will board a NASA plane and return to Houston, while Kononenko and Chub will depart for a training base in Star City, Russia.

NASA’s coverage is as follows (all times Eastern and subject to change based on real-time operations):

Sunday, Sept. 22
10:15 a.m. – Expedition 71/72 change of command ceremony begins on NASA+ and the agency’s website.

Monday, Sept. 23
12:45 a.m. – Hatch closing coverage begins on NASA+ and the agency’s website.

1:05 a.m. – Hatch closing

4 a.m. – Undocking coverage begins on NASA+ and the agency’s website.

4:37 a.m. – Undocking

6:45 a.m. – Coverage begins for deorbit burn, entry, and landing on NASA+ and the agency’s website.

7:05 a.m. – Deorbit burn

8 a.m. – Landing

For more than two decades, people have lived and worked continuously aboard the International Space Station, advancing scientific knowledge, and making research breakthroughs that are not possible on Earth. The station is a critical testbed for NASA to understand and overcome the challenges of long-duration spaceflight and to expand commercial opportunities in low Earth orbit. As commercial companies focus on providing human space transportation services and destinations as part of a robust low Earth orbit economy, NASA is focusing more resources on deep space missions to the Moon as part of Artemis in preparation for future human missions to Mars.

Learn more about International Space Station research and operations at:

https://www.nasa.gov/station

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SOURCE NASA

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Global claims guidance leader EvolutionIQ joins as CALI’s inaugural Life Partner

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NEW YORK, Sept. 20, 2024 /PRNewswire/ — US-based EvolutionIQ, a global leader in claims guidance technology, has signed on as the Council of Australian Life Insurers (CALI)’s first Life Partner as part of its corporate partner program.

The CALI Partner Program is designed to foster collaboration and create a connected ecosystem of industry experts.

CALI Life Partners share the industry’s mission to make life insurance accessible, understandable and trusted. They are companies that support Australian life insurers to help Australians and their families have peace of mind about their future so they can live in the most healthy, confident and secure way.

“We are pleased to welcome EvolutionIQ as CALI’s inaugural Life Partner. The CALI Partner Program plays an important role in connecting our members to the latest innovators, like EvolutionIQ, that can move their businesses forward,” said CALI CEO Christine Cupitt.

“We want to work closely with each of our partners to strengthen and support the life insurance industry to deliver better customer experiences for millions of Australians on their best and worst days.”

Headquartered in New York, EvolutionIQ has expanded significantly since 2019. Its clients include major insurance carriers such as Sun Life, Reliance Matrix and Principal Financial. Their AI-powered software makes insurance claims processes more personalised, fair and cost-effective so that more people can recover faster and return to work.

“We are committed to supporting the Australian life insurance ecosystem and being a CALI Life Partner enables us to specialise our products to meet the dynamic needs of the Australian markets,” said EvolutionIQ’s Co-CEO, Mike Saltzman.

“Our partnership with CALI means we can contribute to and shape customer experiences in Australia, and ultimately help more people return to health and a livelihood sooner.”

About EvolutionIQ
EvolutionIQ pioneered Claims Guidance in 2019. Its explainable AI guides insurance claims professionals to their highest potential impact claims, improving the claimant experience and delivering better claim outcomes to claimants, carriers and their customers. EvolutionIQ serves the group disability, individual disability and workers’ compensation markets worldwide. EvolutionIQ’s AI native products have been adopted by 70% of the top 15 U.S. disability carriers and a growing list of workers’ compensation carriers. The New York-based company employs 185 staff across the United States, Europe and Australia. For more information, visit evolutioniq.com and follow the company on LinkedIn.

About CALI
We support Australians to make informed choices about their future and help them live in a healthy, confident and secure way over their lifetime.

Our members’ products and services give people peace of mind when making important decisions and provide a financial safety net during life’s biggest challenges.

We advocate for national policy settings that expand Australians’ access to the life insurance protection that suits them when they need it most.

CALI represents all life insurers and reinsurers in Australia. The Australian life insurance industry is today a $26.4billion industry, employing thousands of Australians and paying billions of dollars of benefits each year.

To view CALI’s corporate partners visit www.cali.org.au/about-us/#our-partners

For more information, visit www.cali.org.au

Media Contact
Jason Kapler
Vice President of Marketing
EvolutionIQ
(917) 740-5608
Press@evolutioniq.com

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SOURCE EvolutionIQ

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