5G Internet of Things Market

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5G Internet of Things Market
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The global 5G Internet of Things market size was
valued at 1.45 billion in 2020, and is projected
to reach 285.28 billion by 2030, registering a
CAGR of 69.8 from 2021 to 2030. 
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5G network technology in the era of Internet of
Things enables the IoT devices to improve their
performance and reliability.
The advent of a 5G-enabled Internet of Things is
intended to expand sensor-based Internet of
Things capabilities to actuators, robots, and
drones for distributed coordination and low
latency dependable job execution in hands. 
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Impact of Covid-19
The COVID-19 outbreak in 2020 drove rapid growth
in the 5G Internet of Things (IoT) market.
However, the market faced challenges during the
pandemic, notably the scarcity of skilled
professionals for deploying 5G networks in
emerging economies, hindering its growth.
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Post-pandemic, the market is expected to rebound
due to the rising demand for IoT-based smart
infrastructure solutions, particularly 5G-enabled
smartphones. This increased adoption of IoT
technology is set to fuel market growth.
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Key Market Segments By Component
Software Platform
Solution
Hardware
Services
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Segmentation By Region 
U.S., Canada
North America 
U.K., Germany, France, Spain, Italy, Rest of
Europe
China, Japan, South Korea, India, Australia, Rest
of Asia-Pacific
Europe
Asia-Pacific
LAMEA
Latin America, Middle East, Africa
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Leading Market Players 
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Contact
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