5G Industrial IOT Market Growing at a CAGR 79.1%

January 25, 2023 ⚊ 1 Min read ⚊ Views 61 ⚊ NEWS

The 5G Industrial IoT market size is projected to grow from USD 0.5 billion in 2020 to USD 15.7 billion in 2026, at a Compound Annual Growth Rate (CAGR) of 79.1% during the forecast period. The major factors driving the growth of the 5G Industrial IoT market include the growth in data traffic due to the increasing number of IoT devices across manufacturing industries, increasing demand for high realibility and low latency networks in manufacturing industries, growth in number of M2M connections across manufacturing industries, and the rising need of preventive maintenance of critical equipment.

Read details: https://www.digitaljournal.com/pr/5g-industrial-iot-market-growing-at-a-cagr-79-1-key-player-microsoft-corporation-microsoft-siemens-ag-siemens-verizo

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