Internet Of Things Market Size shall reach a value of $xx Million in 2028, growing with a CAGR of 9.1% during the forecast period of 2021 to 2028.
Internet of Things Market Growth and Trends
The coming future of the Internet of Things (IoT) has the potential to be cosmic. The global motive to unify all things around the World under a common entity to provide information and the power to regulate the state of every object without manual intervention and errors associated with it, has been the basic force behind initiating IoT. Elevated customer experience has always been a prime mover behind the global demand for IoT. As much as the global demand for smart devices like smartphones exists, there will be a growing bid to connect these various devices for better ease of operation. The sharing of data among the smart devices happens to be the key behind the network of connecting devices. The escalating need for analysis of data and data analytics integration is found to be propelling the employment of the IoT market in the immediate future.
The growing acquisition of IoT technology over end-user industries like automotive, manufacturing, and healthcare is fueling the IoT market growth. The upcoming industrial revolution of intelligent connectivity where the traditional manufacturing sector undergoes a digital transformation, to increase efficiency and decrease downtime, is being powered by IoT technology. The accelerating “need turned to demand” for complementing and augmenting human labor with machines or robotics and to diminish industrial accidents has birthed smart factory automation, where IoT runs an innovative and agile production with smarter technology. The retail segment has surged the demand for IoT, as it enables retailers to globally connect with customers and businesses while gaining insight into product performance and customer experiences.
Technology-aided goods or appliances for home automation have been found as an alluring concept among end-users. Correspondingly, electronic manufacturers are presently introducing home appliances like connected refrigerators with the automation of re-ordering dairy products and others that are running low in supply, without the need for personnel intervention to check on feeds. The humongous use of e-commerce platforms lately, which is contributed by extensive smartphone penetration, further propagates the need for IoT integration, for a better and effective shopping experience. Rapid digitalization across automobile vectors, like deploying connected cars has added more need for IoT growth in this industry. Highly commercial plans like smart energy projects and smart cities have rendered IoT with a big part in real estate. The occurrence of wireless networking like 5G and Wi-Fi 6 and an increase in the cloud storage platform has positively affected the growth rate and demand for IoT.
Internet of Things Industry Regional Analysis
Internet of Things Market Research Report Scope/Definition
Internet of Things Market Share and Competition Key companies operating in this industry are: Cisco Systems, Inc ; Google, Inc ; IBM Corporation ; Microsoft Corporation and Huawei Technologies Co. Ltd
Internet of Things Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2021 - 2028)
• Hardware
• Software / Platform
• Connectivity
• Services
Industry Vertical Analysis (Revenue, USD Million, 2021 - 2028)
• Manufacturing
• Transportation
• Healthcare
• Retail
• Energy and Utilities
• Residential
• Other Industry Verticals
Region Analysis (Revenue, USD Million, 2021 - 2028)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Internet of Things Industry Companies
• Cisco Systems, Inc
• Google, Inc
• IBM Corporation
• Microsoft Corporation
• Huawei Technologies Co. Ltd
Available Versions of Internet of Things Market: -
United States Industry Research Report
Europe Industry Research Report
Asia Pacific Industry Research Report
India Industry Research Report
