5G Industrial IoT Market Research Report Size, Trends & Global Forecast � 2022-2029

Gmi Research18 Jan, 2023Technology

The 5G Industrial IOT Market was valued around USD 780 million in 2021 and is predicted to reach USD 5,312 million by 2029, growing at a CAGR of 27.1% over the period (2021-2028). The factors driving growth of the 5G Industrial IOT Market includes rise in the data traffic, growing demand for high speed and low-latency networks, surge in the number of M2M connections around the world, increasing use of 5G technology across industry verticals such as Manufacturing, Energy & Utilities, and Healthcare, and improvements in the living standards.