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[196 Pages Report] The 5G in IoT Market size was estimated at USD 6.50 billion in 2023 and expected to reach USD 8.23 billion in 2024, at a CAGR 30.32% to reach USD 41.50 billion by 2030.

The 5G in IoT includes using 5G technology in the Internet of Things (IoT), which is leading to the generation of high-speed, reliable, and efficient wireless communication systems. These systems are capable of handling a vast number of high-rate data transfers and are essential for the functioning of modern IoT applications. Increasing demand for high-speed data transmission and low latency for real-time analytics is driving the growth of the 5G in IoT market. Escalation in the number of IoT devices and government investment in smart city projects is expanding the usage of 5G in IoT solutions. The growing implementation of 5G in IoT in supply chain optimization and energy management through smart grids is creating a platform for market growth. The high cost of implementation and security and privacy concerns with 5G in IoT solutions are hampering the growth of the market. The growing introduction of technological advancements in 5G in IoT solutions by market vendors is expected to create opportunities for market growth.