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Global 5G Industrial IoT Market Forecasted To Gain USD 18.9 Billion by 2030, With A Tremendous CAGR of 28% | Growth Market Reports
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the global 5G industrial IoT market is segmented into services, solutions, and hardware. The hardware segment is anticipated to expand at a sustainable CAGR during the forecast period. The 5G IoT module is an essential element in the hardware segment. 5G IoT modules make work environments smooth, useful, and secure. Component and module manufacturers are investing money in R&D while also considering chipsets for specific usage in the manufacturing processes.
the global 5G industrial IoT market is segmented into emergency & incident management, & business communication, automation control and management, real-time workforce tracking & management, logistics & supply chain management, asset tracking & management, and business process optimization, and predictive maintenance. The real-time workforce tracking & management segment is expected to grow at a significant pace during the forecast period. Real-time workforce tracking and management for manufacturing companies enables the deployment, identification, and validation of employees and their management and real-time communication.
the market is segmented into five major regions, namely, North America , Europe , Asia Pacific , Latin America , and the Middle East & Africa . The market in Asia Pacific is projected to expand at a significant CAGR during the forecast period, owing to the technological advancements in the region. Asia Pacific is anticipated to dominate edge computing, 5G core technologies, 5G, and blockchain owing to its culture, size, and strategic initiative taken by countries including Singapore , Japan , South Korea , Australia , and China .
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