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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.

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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

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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: 
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Skyquest Technology
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Visit Our Website: https://www.skyquestt.com/

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Technology

Halal Route Application – Eat, Travel around Thailand, Safe and Sound Halal Style

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BANGKOK, Thailand, Sept. 20, 2024 /PRNewswire/ — The Halal Science Center, Chulalongkorn University has developed Halal Route, an application that lists restaurants, lodging, mosques, prayer directions, and tourist attractions in Thailand under Islamic tourism principles. It hopes to help Muslim tourists travel in Thailand with peace of mind, and supports tourism industry operators to grow and welcome a growing number of Muslim tourists.

The Tourism Authority of Thailand (TAT) predicts that in 2024 there will be around 168 million Islamic tourists worldwide.  According to the Mastercard-Crescent Rating Global Muslim Travel Index (GMTI 2024), Thailand is the 32nd most popular destination for Muslim tourists.  However, the major problem Muslim tourists encounter in Thailand is finding Halal-accredited restaurants, hotels, accommodations, or tourist attractions with service areas (such as prayer rooms) that are compliant with the Islamic way.

Halal Route” is a travel aggregator app that collects searchable information on Halal restaurants, mosques, prayer locations, times, and directions for prayers (the qibla), tourist attractions, Muslim villages or communities, hotels, accommodations, etc.  This app is linked to Google Maps for navigation with precision. It also supports 3 languages, Thai, English, and Arabic, so that Muslim tourists can live and travel more comfortably and with peace of mind,” said Mr.Erfun Weahama, Science Service Officer, Halal Route App development team.

Dr. Anat Denyingyot, Assistant Director of the Halal Science Center, emphasized that the Halal Route application has the most reliable and comprehensive information on halal tourism in Thailand today. “All restaurants and locations have had on-site visits and are audited according to standards approved by a trusted authority or organization, such as certifications from religious organizations or halal food-related entities, as well as management systems to guarantee and be responsible for halal conditions (the HAL-Q system),” Dr. Anat assured.

Currently, the application has more than 1,100 restaurants in its database, and new locations and services are being updated, covering more than 40 provinces from north to south of Thailand that are popular among tourists.

Halal Route is not only for navigation, but a platform that connects Muslim communities from around the world who have the opportunity to visit Thailand,” Associate Professor Dr.Winai Dahlan, Director of the Halal Science Center concluded.

The Halal Route application is free to download on both iOS and Android systems.

Read the full article at https://www.chula.ac.th/en/highlight/185916/  

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SOURCE Chulalongkorn University

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QR Code Labels Market Size to Grow USD 1339.1 Million by 2030 at a CAGR of 5.6% | Valuates Reports

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BANGALORE, India, Sept. 19, 2024 /PRNewswire/ — QR Code Labels Market is Segmented by Type (Flexographic Printing, Digital Printing, Offset Gravure), by Application (Inventory Management, Marketing & Advertisement, Mobile Payments, Personal Use): Global Opportunity Analysis and Industry Forecast, 2024-2030.

The Global QR Code Labels Market was valued at US$ 889.2 million in 2023 and is anticipated to reach US$ 1339.1 million by 2030, witnessing a CAGR of 5.6% during the forecast period 2024-2030.

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Major Factors Driving the Growth of QR Code Labels Market:

The QR code labels market is experiencing robust growth due to the increasing adoption across sectors like retail, logistics, marketing, and payments. The convenience, versatility, and cost-effectiveness of QR code labels, combined with the rise in mobile phone usage and the shift toward contactless technologies, are key drivers of this growth. Industries are leveraging QR codes for diverse applications such as inventory management, mobile payments, and marketing campaigns. However, concerns about data privacy and security may limit widespread adoption in certain regions.

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TRENDS INFLUENCING THE GROWTH OF THE QR CODE LABELS MARKET:

 Flexographic printing holds the largest share in the QR code labels market due to its high-speed production capabilities and cost-effectiveness for large print runs. Flexographic printing is particularly popular in sectors like retail and logistics, where large quantities of QR code labels are required for packaging and inventory management. Its ability to print on a wide range of substrates, including paper, plastic, and metallic foils, makes flexographic printing the preferred choice for high-volume, cost-efficient QR code label production, driving its dominance in the market.

Digital printing is the second-largest segment, known for its flexibility, quick turnaround times, and ability to produce short print runs cost-effectively. This technology is widely adopted in the marketing and advertising sectors where businesses need customized QR code labels for targeted campaigns and promotions. Digital printing offers high-quality, precise printing for small batches, allowing companies to personalize QR codes for specific audiences or events. The growing trend of personalization in marketing is significantly driving the demand for digital printing in the QR code labels market.

Inventory management is the largest application segment, as QR code labels simplify tracking and monitoring products in warehouses, retail stores, and logistics chains. QR codes allow for real-time updates and easy access to product details, making inventory management more efficient. Businesses, especially in e-commerce and logistics, rely on QR codes to reduce human errors, improve accuracy, and streamline operations. As global trade and e-commerce continue to grow, inventory management remains the largest driver of the QR code labels market.

QR codes in marketing and advertising are increasingly popular as brands use them to engage customers directly through digital content. By scanning a QR code, consumers can access websites, videos, promotions, and other interactive media, enhancing brand interaction. This trend is particularly strong in retail and consumer goods sectors, where QR codes are used in packaging, billboards, and digital campaigns. With more consumers using smartphones, QR codes have become a key tool in marketing strategies, driving growth in this application.

The use of QR code labels for mobile payments is rapidly expanding, especially in regions like Asia-Pacific, where cashless transactions are becoming the norm. QR codes provide a secure, contactless payment solution, and their integration with mobile wallets makes them convenient for both consumers and businesses. The pandemic accelerated the shift to contactless payments, and the trend is expected to continue as more businesses adopt QR code-enabled payment systems. This rising trend is a significant factor contributing to the growth of the QR code labels market.

QR code labels are also being increasingly adopted for personal use, particularly in the context of social networking, personal branding, and event management. Individuals are using QR codes to share contact information, social media profiles, or event details. The ease of generating and sharing QR codes through mobile apps has made this technology accessible for personal use. As digital interaction becomes more integrated into daily life, personal use of QR code labels is expected to grow, further expanding the market.

The production of QR code labels, particularly in large quantities, is increasingly being scrutinized for its environmental impact. Companies are looking for sustainable printing solutions, such as eco-friendly inks and biodegradable materials, to reduce the environmental footprint of label production. Flexographic and digital printing technologies are evolving to meet these demands, with manufacturers investing in greener alternatives. The shift towards sustainability in label production is expected to shape the future of the QR code labels market.

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QR CODE LABELS MARKET SHARE

The Asia-Pacific region dominates the QR code labels market, driven by the widespread use of QR codes for mobile payments and inventory management, particularly in China and Japan. North America follows, with increasing adoption in retail, marketing, and healthcare. Europe is also a key market, driven by the rising demand for contactless payment solutions and digital marketing initiatives. The Middle East and Africa are emerging markets, especially in mobile payments and product traceability applications.

Key Companies:

Lintec CorporationCCL IndustriesPacktica SDNLabel LogicHibiscusData LabelAdvanced LabelsCoast Label CompanyLabel ImpressionsConsolidated LabelAvery

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

–  QR Code Solution Market

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–  QR Code Anti-counterfeiting Label Market

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–  QR Code Recognition Market

–  QR Scan Payment Market

–  QR and BarCode Readers Market

–  QR Code Ordering System Market

–  QR Code Inkjet Printer Market

–  Scan QR Code ID Temperature Measurement All-In-One Machine Market

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Desktop Alert Inc. celebrates 15 years at Northern Command and NORAD, over 10 years at NATO Enterprise, the U.S. National Guard, and more than a decade at West Point Military Academy and Fort Campbell

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CHATHAM, N.J., Sept. 19, 2024 /PRNewswire/ — Desktop Alert Inc., a leading provider of on-premise mass notification platforms for government, military, and commercial sectors, has announced significant growth in all military sectors with the installation and redeployment of its award-winning on-premise mass notification platform.

Over the past decade, the shift towards cloud-based solutions has brought about valuable insights and best practices. However, organizations have come to realize that during an Internet outage, relying solely on the cloud can lead to communication challenges. Consequently, many organizations, both military and commercial, have reverted to redundant on-premise emergency communication platforms. As the sole commercial company certified for mass notification on all government and military networks in the United States, Desktop Alert Inc. is witnessing a surge in sales opportunities from organizations looking to strengthen their emergency communication capabilities. This ensures seamless communication with their constituents even when Internet access is disrupted and cloud services are unavailable. This trend underscores the importance of on-premise solutions in emergency communication.

Recently, West Point Military Academy renewed its mass notification alert system with Desktop Alert Inc. after a cloud alert system hiatus, demonstrating proactive measures to enhance communication for cadets and personnel. Additionally, Desktop Alert Inc. has been selected by NATO Enterprise spanning 32 nations and The Department of Defense Cyber Crime Center.

“The clamor to the cloud over the last decade has delivered decided reports both in terms of lessons learned and best practices. Now at last organizations both military and commercial have realized that when an Internet outage occurs there is no silver lining in the cloud. Organizations have finally tallied the results and decidedly moved back to redundant on premise emergency communication platforms. As the only commercial company in the United States certified for mass notification on all government and military networks our company is now experiencing a significant spike in sales opportunities for organizations seeking to buttress their emergency communication platform capabilities to ensure that when the Internet goes down and the cloud is not available that they are capable of still communicating with their constituency without delay. As such, this underlines the metaphor, there is no silver lining to the cloud “, said Howard Ryan CEO Desktop Alert Inc.

Additionally, the company has now introduced a hybrid alert platform called Ping Alert. A revolutionary Hybrid Mass Notification System. In the dynamic realm of mass notification services, the introduction of Ping Alert marks a significant advancement. This innovative product distinguishes itself through its hybrid deployment, combining cloud-based flexibility with robust on-premise reliability, ensuring uninterrupted service even during internet outages.

For additional information visit https://www.desktopalert.net

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SOURCE Desktop Alert Inc.

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