The Asia PacificIoT market is expected to grow from US$ 116.82 billion in 2022 to US$ 597.58 billion by 2028. It is estimated to grow at a CAGR of 31.3% from 2022 to 2028.
Rise in Implementation of IoT in Automotive Sector is Driving the Asia Pacific IoT Market
Automotive is one of the largest sectors in terms of IoT implementation, with self-driving cars, security features, data analytics, in-vehicle infotainment, predictive maintenance, real-time monitoring, and dashboard reporting being the key applications. Moreover, the high level of competition in the global automotive sector is propelling companies to adopt advanced technologies such as IoT and AI. Audi, BMW, General Motors, and Mercedes-Benz are a few major automakers offering advanced infotainment systems integrated with various technologies into their cars. Moreover, the mounting demand for connected vehicles, coupled with rising investments in autonomous cars, is further boosting the adoption of IoT and efficient communication technologies, such as 4G and 5G. Automotive systems that can be enhanced with IoT include logistics management, fleet management, telematics, sensor sharing, advanced driver assistance systems, infotainment, and autonomous driving. Furthermore, due to increasing demand for dynamic messaging, parking sensors, real-time occupancy data of parking spots, and available parking spots to ensure smooth parking of the vehicle; several government agencies are promoting smart city programs and implementing smart parking to ensure smooth traffic in the city. Therefore, the rise in the implementation of IoT in the automotive sector is driving the Asia Pacific IoT market.Asia Pacific IoT Market Overview
IoT solutions are widely adopted across several business verticals in Asia Pacific owing to faster connectivity and progressive government initiatives for smart city and manufacturing projects. In addition, governments of various countries in the region are launching various smart infrastructure projects to provide better transport facilities, health services, and mobility. Moreover, as consumers seek better solutions that promise safety, convenience, and efficiency, the disruptions in the transportation sector have compelled it to use IoT technology for tracking and optimizing supply chains. Furthermore, IoT has increased applications in smart city projects for different purposes such as better energy utilization, control of disease outbreaks, autonomous vehicles, fintech, and contactless payment innovations. Additionally, the application of IoT technology has increased across broader governance applications such as evidence-based decision-making, urban planning, and infrastructure development. The logistics industry in Asia Pacific continues to transform its supply chains due to the rising preference for online shopping, which accelerated the demand for better customer service and convenience in e-commerce delivery. Also, there is an increasing need for end-to-end supply chain visibility to overcome challenges such as on-demand trends, volume spikes, dynamic changes in route conditions, and flexible workforces that must be addressed. As a result, the providers are developing IoT solutions for real-time fleet tracking and management solutions, which are expected to boost the growth of the Asia Pacific IoT market in the coming years.Asia PacificIoT Market Revenue and Forecast to 2028 (US$ Billion)
Asia Pacific IoT Market Segmentation
The Asia PacificIoT market is segmented into offering, end user, and country.- Based on offering, theAsia Pacific IoT market is segmented into hardware, software, and services. The hardware segment registered a largest market share in 2022 In 2022, the hardware segment registered the largest share in the Asia Pacific IoT market. The hardware segment is further subsegmented into processors, connectivity modules, sensors, memory devices, and others
- Based on end user, the Asia Pacific IoT market is segmented into industrial, commercial, and residential.In 2022, the industrial segment registered a largest share in the Asia Pacific IoT market.
- Based on country, the Asia Pacific IoT market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. In 2022, the China segment registered a largest share in the Asia Pacific IoT market.
Table of Contents
1. Introduction1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
1.3.1 APAC IoT Market - by Offering
1.3.2 APAC IoT Market - by End User
1.3.3 APAC IoT Market - by Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC IoT Market Landscape
4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. APAC IoT Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increase in Number of Smart City Projects
5.1.2 Reduction in Cost of Connected Devices and Increase in Investments in IoT
5.1.3 Rise in Implementation of IoT in Automotive Sector
5.2 Market Restraints
5.2.1 Data Security and Interoperability Issues
5.3 Market Opportunities
5.3.1 Progressive Deployment of 5G Networks
5.4 Future Trends
5.4.1 Massive Expansion of E-Commerce Industry
5.4.2 Increase in Digitalization Across Industries and Rise in Importance of Service Providers
5.5 Impact Analysis of Drivers and Restraints
6. IoT Market - APAC Market Analysis
6.1 APAC IoT Market Overview
6.2 APAC IoT Market Revenue Forecast and Analysis
7. APAC IoT Market - By Offering
7.1 Overview
7.2 APAC IoT Market, by Offering (2021 and 2028)
7.3 Hardware
7.3.1 Overview
7.3.2 Hardware: APAC IoT Market - Revenue and Forecast to 2028 (US$ Billion)
7.3.3 Processors
7.3.3.1 Overview
7.3.3.2 Processors: APAC IoT Market - Revenue and Forecast to 2028 (US$ Billion)
7.3.4 Connectivity Modules
7.3.4.1 Overview
7.3.4.2 Connectivity Modules: APAC IoT Market - Revenue and Forecast to 2028 (US$ Billion)
7.3.5 Sensors
7.3.5.1 Overview
7.3.5.2 Sensors: APAC IoT Market - Revenue and Forecast to 2028 (US$ Billion)
7.3.6 Memory Devices
7.3.6.1 Overview
7.3.6.2 Memory Devices: APAC IoT Market - Revenue and Forecast to 2028 (US$ Billion)
7.3.7 Others
7.3.7.1 Overview
7.3.7.2 Others: APAC IoT Market - Revenue and Forecast to 2028 (US$ Billion)
7.4 Software
7.4.1 Overview
7.4.2 Software: APAC IoT Market - Revenue and Forecast to 2028 (US$ Billion)
7.5 Services
7.5.1 Overview
7.5.2 Service: APAC IoT Market - Revenue and Forecast to 2028 (US$ Billion)
8. APAC IoT Market Analysis - by End User
8.1 Overview
8.2 APAC IoT Market, by End User (2021 and 2028)
8.3 Industrial
8.3.1 Overview
8.3.2 Industrial: APAC IoT Market - Revenue and Forecast to 2028 (US$ Billion)
8.4 Commercial
8.4.1 Overview
8.4.2 Commercial: APAC IoT Market - Revenue and Forecast to 2028 (US$ Billion)
8.5 Residential
8.5.1 Overview
8.5.2 Residential: APAC IoT Market - Revenue and Forecast to 2028 (US$ Billion)
9. APAC IoT Market - Country Analysis
9.1 Overview
9.1.1 Asia Pacific IoT Market, by Country
9.1.1.1 China IoT Market - Revenue and Forecast to 2028
9.1.1.1.1 China IoT Market, By Offering
9.1.1.1.2 China IoT Market, By Hardware
9.1.1.1.3 China IoT Market, By End User
9.1.1.2 Japan IoT Market - Revenue and Forecast to 2028
9.1.1.2.1 Japan IoT Market, By Offering
9.1.1.2.2 Japan IoT Market, By Hardware
9.1.1.2.3 Japan IoT Market, By End User
9.1.1.3 India IoT Market - Revenue and Forecast to 2028
9.1.1.3.1 India IoT Market, By Offering
9.1.1.3.2 India IoT Market, By Hardware
9.1.1.3.3 India IoT Market, By End User
9.1.1.4 Australia IoT Market - Revenue and Forecast to 2028
9.1.1.4.1 Australia IoT Market, By Offering
9.1.1.4.2 Australia IoT Market, By Hardware
9.1.1.4.3 Australia IoT Market, By End User
9.1.1.5 South Korea IoT Market - Revenue and Forecast to 2028
9.1.1.5.1 South Korea IoT Market, By Offering
9.1.1.5.2 South Korea IoT Market, By Hardware
9.1.1.5.3 South Korea IoT Market, By End User
9.1.1.6 Rest of Asia Pacific IoT Market - Revenue and Forecast to 2028
9.1.1.6.1 Rest of Asia Pacific IoT Market, By Offering
9.1.1.6.2 Rest of Asia Pacific IoT Market, By Hardware
9.1.1.6.3 Rest of Asia Pacific IoT Market, By End User
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 Merger and Acquisition
10.4 New Development
11. Company Profiles
11.1 Microsoft Corporation
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Hewlett Packard Enterprise Development LP (HPE)
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 SAS Institute Inc.
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 VMware, Inc.
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Google LLC
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Oracle Corporation
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Cisco Systems, Inc.
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 SAP SE
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 IBM Corporation
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 QUALCOMM INCORPORATED
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About the Publisher
12.2 Word Index
List of Tables
Table 1. APAC IoT Market Revenue and Forecast to 2028 (US$ Billion)
Table 2. Asia Pacific IoT Market - Revenue and Forecast to 2028 - By Country (US$ Billion)
Table 3. China IoT Market - Revenue and Forecast to 2028 - By Offering (US$ Billion)
Table 4. China IoT Market - Revenue and Forecast to 2028 - By Hardware (US$ Billion)
Table 5. China IoT Market - Revenue and Forecast to 2028 - By End User (US$ Billion)
Table 6. Japan IoT Market - Revenue and Forecast to 2028 - By Offering (US$ Billion)
Table 7. Japan IoT Market - Revenue and Forecast to 2028 - By Hardware (US$ Billion)
Table 8. Japan IoT Market - Revenue and Forecast to 2028 - By End User (US$ Billion)
Table 9. India IoT Market - Revenue and Forecast to 2028 - By Offering (US$ Billion)
Table 10. India IoT Market - Revenue and Forecast to 2028 - By Hardware (US$ Billion)
Table 11. India IoT Market - Revenue and Forecast to 2028 - By End User (US$ Billion)
Table 12. Australia IoT Market - Revenue and Forecast to 2028 - By Offering (US$ Billion)
Table 13. Australia IoT Market - Revenue and Forecast to 2028 - By Hardware (US$ Billion)
Table 14. Australia IoT Market - Revenue and Forecast to 2028 - By End User (US$ Billion)
Table 15. South Korea IoT Market - Revenue and Forecast to 2028 - By Offering (US$ Billion)
Table 16. South Korea IoT Market - Revenue and Forecast to 2028 - By Hardware (US$ Billion)
Table 17. South Korea IoT Market - Revenue and Forecast to 2028 - By End User (US$ Billion)
Table 18. Rest of Asia Pacific IoT Market - Revenue and Forecast to 2028 - By Offering (US$ Billion)
Table 19. Rest of Asia Pacific IoT Market - Revenue and Forecast to 2028 - By Hardware (US$ Billion)
Table 20. Rest of Asia Pacific IoT Market - Revenue and Forecast to 2028 - By End User (US$ Billion)
Table 21. List of Abbreviation
List of Figures
Figure 1. APAC IoT Market Segmentation
Figure 2. APAC IoT Market Segmentation - By Country
Figure 3. APAC IoT Market Overview
Figure 4. APAC IoT Market, by Offering
Figure 5. APAC IoT Market, by Hardware
Figure 6. APAC IoT Market, by End User
Figure 7. APAC IoT Market, by Country
Figure 8. APAC - PEST Analysis
Figure 9. APAC IoT Market- Ecosystem Analysis
Figure 10. Expert Opinion
Figure 11. APAC IoT Market: Impact Analysis of Drivers and Restraints
Figure 12. APAC IoT Market Revenue Forecast and Analysis (US$ Billion)
Figure 13. APAC IoT Market Revenue Share, by Offering (2021 and 2028)
Figure 14. Hardware: APAC IoT Market - Revenue and Forecast to 2028 (US$ Billion)
Figure 15. Processors: APAC IoT Market - Revenue and Forecast to 2028 (US$ Billion)
Figure 16. Connectivity Modules: APAC IoT Market - Revenue and Forecast to 2028 (US$ Billion)
Figure 17. Sensors: APAC IoT Market - Revenue and Forecast to 2028 (US$ Billion)
Figure 18. Memory Devices: APAC IoT Market - Revenue and Forecast to 2028 (US$ Billion)
Figure 19. Others: APAC IoT Market - Revenue and Forecast to 2028 (US$ Billion)
Figure 20. Software: APAC IoT Market - Revenue and Forecast to 2028 (US$ Billion)
Figure 21. Service: APAC IoT Market - Revenue and Forecast to 2028 (US$ Billion)
Figure 22. APAC IoT Market Revenue Share, by End User (2021 and 2028)
Figure 23. Industrial: APAC IoT Market - Revenue and Forecast to 2028 (US$ Billion)
Figure 24. Commercial: APAC IoT Market - Revenue and Forecast to 2028 (US$ Billion)
Figure 25. Residential: APAC IoT Market - Revenue and Forecast to 2028 (US$ Billion)
Figure 26. Asia Pacific IoT Market, by Country - Revenue (2021) (US$ Million)
Figure 27. Asia Pacific IoT Market, by Country, 2021 & 2028 (%)
Figure 28. China IoT Market - Revenue and Forecast to 2028 (US$ Billion)
Figure 29. Japan IoT Market - Revenue and Forecast to 2028 (US$ Billion)
Figure 30. India IoT Market - Revenue and Forecast to 2028 (US$ Billion)
Figure 31. Australia IoT Market - Revenue and Forecast to 2028 (US$ Billion)
Figure 32. South Korea IoT Market - Revenue and Forecast to 2028 (US$ Billion)
Figure 33. Rest of Asia Pacific IoT Market - Revenue and Forecast to 2028 (US$ Billion)
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Cisco Systems, Inc.
- Google LLC
- Hewlett Packard Enterprise Development LP (HPE)
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- QUALCOMM INCORPORATED
- SAP SE
- SAS Institute Inc.
- VMware, Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 148 |
| Published | January 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 116824.27 Million |
| Forecasted Market Value ( USD | $ 597575.79 Million |
| Compound Annual Growth Rate | 31.3% |
| Regions Covered | Asia Pacific |
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