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By 2030, a rise of 4% of global GDP of production industry is expected through 5G deployment. Despite the immense potential, many companies are not planning to deploy 5G yet, mainly due to concerns regarding technical and economic potential of 5G deployment. To enable an ex-ante evaluation of 5G-deployment in production, a five-step model was developed, verified and validated in this thesis, enabling the techno-economic evaluation of 5G deployment for latency-critical applications in production.