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5G Industrial IOT Market Is Poised To Grow At A CAGR of 79.1% to 2026: Exclusive Report by MarketsandMarkets™ 5G Industrial IOT Market The report "5G Industrial IOT Market by Component (Hardware, Solutions, and Services), Organization Size, Application (Predictive Maintenance, Business Process Optimization), End User (Process Industries and Discrete Industries) and Region Global Forecast to 2026", 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 growth in data traffic due to increasing number of IoT devices across manufacturing industries, increasing demand for high reliability and low latency networks in manufacturing industries, growth in number of M2M connections across manufacturing industries, and rising need of preventive maintenance for critical equipment. Browse 147 market data Tables and 55 Figures spread through 227 Pages and in-depth TOC on "5G Industrial IOT Market by Component (Hardware, Solutions, and Services), Organization Size, Application (Predictive Maintenance, Business Process Optimization), End User (Process Industries and Discrete Industries) and Region Global Forecast to 2026" Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=258071167 Based on component, the solutions segment to grow at a higher CAGR during the forecast period With the advanced networking technology, the 5G industrial IoT solutions benefit manufacturing organizations in several ways, such as the ability to view the status of assets at any time, faster service response from dealers, and effectively monitoring, predicting, and controlling process variability. Organizations across the manufacturing vertical are adopting 5G industrial IoT solutions, as these solutions enable them to monitor their assets and increase operational efficiency. Maintenance, repair, and operations of assets are of the utmost importance in any asset-intensive industry. The key objective is to maximize the RoI of the current asset base as well as to reduce the cost. The 5G industrial IoT solution enables organizations to track assets and receive notifications when the maintenance of assets is due. It helps enterprises perform regular maintenance, thereby increasing the productivity of assets. Based on services, the professional services segment is expected to lead the market during the forecast period Professional services support businesses of all size and across the manufacturing vertical. Vendors offering professional services assess the expense and design of the solution for streamlining communication and improving the efficiency of the network. Professional services