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5G IoT Market Overview
The 5G IoT Market size is forecast to reach $40.5 billion by 2026, growing at a CAGR 61% from 2022 to 2026. Increased proliferation of technologies like predictive maintenance, data analytics, digital twins and others in manufacturing sector has been eventually driving the need for 5G IoT. Rising demand for connected cars equipped with advanced in-vehicle infotainment and telematics system along with increasing penetration of advanced communication infrastructure in healthcare sector to optimize surgical robots, asset tracking, telemedicine, remote health monitoring are some of the prime factors driving the global 5G IoT Market.
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Key Takeaways
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5G IoT Market Challenges
High infrastructure cost related with 5G deployment and coverage hinders its market growth
5G offers a significant increase in speed and bandwidth, but its more limited range requires further infrastructure. 5G antennas and base stations are smaller in the 5G era, but more of them would have to be installed on buildings or homes to compensate for their shorter range.
5G IoT Market Landscape
Product innovations, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the 5G IoT Market. 5G IoT top 10 companies include:?