The global Internet of Things (IoT) market size is expected to reach $1553.50 Billion by 2028 growing at the CAGR of 26.31% from 2021 to 2028.
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Global Internet of Things (IoT) Drivers:
With the increased development of wireless networking technologies and a decline in device cost, the Internet of Things market is expected to grow positively. The Internet of Things technology helps connect different sophisticated gadgets that become useful by sharing data amongst themselves. Various devices, similar to sensors, smartphones, and wearables, collect information from separate objects and make it easier to share with customers.
The increasing utilization of data analysis and analytics integration is expected to propel the Internet of Things market over the forecast period.
- Impact on Market Size
- End-User Trend, Preferences, and Budget Impact
- Regulatory Framework/Government Policies
- Key Players Strategy to Tackle Negative Impact
- Opportunity Window
Global Internet of Things (IoT) Market Segments:
The global Internet of Things (IoT) market is further segmented into Platform, Software Solution, Application, Service, and geography.
● By Platform: Device Management, Application Management, Network Management, Others
● By Software Solution: Real-Time Streaming Analytics, Security Solution, Data Management, Remote Monitoring System, Network Bandwidth Management, Others
● By Application: Building And Home Automation, Smart Energy And Utilities, Smart Manufacturing, Connected Logistics, Smart Retail, Smart Mobility, And Transportation, Others
● By Service: Professional Service, Deployment And Integration, Support And Maintenance, Consulting Service, Managed Service, Others
Key Region/ Countries Covered
- North America (US, Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
- Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Rest of the World (the Middle East & Africa and South America)
North America is one of the leading IoT contributors because it’s a technologically-driven market that’s well-served by a culture that embraces innovation and growth opportunities. Start-ups in the region have been quick to embrace IoT technology, using it for industry impact.
In North America, increased investment in smart connected devices will be the driving factor for growth in IoT in this region. Importantly; we should not underestimate rapid digitalization across industry sectors including healthcare, manufacturing, and others which is set to fuel the growth of the IoT market.
Key Players of Global Internet of Things (IoT) Market:
- Intel Corporation
- Microsoft Corporation
- Hewlett Packard Enterprise
- Bosch Software Innovations
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Key Questions Answered Through The Report:
- The Impact of COVID-19 on the global market
- What are the potential opportunities for new entrants in the global market
- What is the market Size and Forecast from 2020 to 2028?
- Key Players associated with the global Internet of Things (IoT) Market
- Value Chain Analysis of Global Internet of Things (IoT) Market
- What is the CAGR of the global Internet of Things (IoT) Market from 2021 to 2028
- Major Growth Factor, Challenges, Trends, and Opportunities in the global market
- Key outcomes of SWOT Analysis
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