The Global Internet of Things Technology Market is estimated to be USD 412.6 Bn in 2021 and is expected to reach USD 546.9 Bn by 2026, growing at a CAGR of 5.8%.
The increasing adoption of cloud platforms has led to the necessity of data centers, one of the key market driving factors. The rising adoption of technology proliferation and connected devices is another key factor contributing to the market growth. However, privacy and security breaches of user data are key restraining factors in market expansion.
Support provided by the government for the research and development of IoT technologies is expected to present various opportunities for market expansion.
By Node Component, the market is classified into Memory Device, Processor, Sensor, Connectivity IC, Logic Device.
By Software Solution, the market is classified as Real-Time Streaming Analytics, Data Management, Security Solution, Network Bandwidth Management, and Remote Monitoring.
By Platform, the market is classified as Application Management, Device Management, ad Network Management.
By Service, the market is classified as Managed Services and Professional Services.
By End-User, the market is classified as Automotive & Transportation, Manufacturing, BFSI, Agriculture, Wearable Devices, Healthcare, Building Automation, Retail, Oil & Gas, Aerospace & Defence, and Consumer Electronics.
By Geography, America is projected to lead the market.
2. The expansion of capabilities of the 5G industry 4.0 testbed at IBM Industry Solution Lab in Coppell, Texas, along with the collaboration with Verizon permitting the customers of the enterprise to develop and test innovation related to 5G that enable use in the applications of Industry 4.0. - 12th August 2021
Market Dynamics
Implementation of IoT technology has become easy, and with the advancement of technology is expected to provide several advantages to various sectors in improving customer service & experience, reduction in operational cost, and others. Not only the large enterprise but the small and medium-sized enterprises are estimated to be benefited from the adoption of IoT. Healthcare, insurance, and education investment in IoT technology are also estimated to rise rapidly.The increasing adoption of cloud platforms has led to the necessity of data centers, one of the key market driving factors. The rising adoption of technology proliferation and connected devices is another key factor contributing to the market growth. However, privacy and security breaches of user data are key restraining factors in market expansion.
Support provided by the government for the research and development of IoT technologies is expected to present various opportunities for market expansion.
Market Segmentation
The Global Internet of Things Technology Market is segmented further based on Node Component, Software Solution, Platform, Service, End-User Application, and Geography.By Node Component, the market is classified into Memory Device, Processor, Sensor, Connectivity IC, Logic Device.
By Software Solution, the market is classified as Real-Time Streaming Analytics, Data Management, Security Solution, Network Bandwidth Management, and Remote Monitoring.
By Platform, the market is classified as Application Management, Device Management, ad Network Management.
By Service, the market is classified as Managed Services and Professional Services.
By End-User, the market is classified as Automotive & Transportation, Manufacturing, BFSI, Agriculture, Wearable Devices, Healthcare, Building Automation, Retail, Oil & Gas, Aerospace & Defence, and Consumer Electronics.
By Geography, America is projected to lead the market.
Recent Developments
1. Telstra and Cisco sign new five-year SaaS agreement for IoT to continue enterprise growth-13th September 20212. The expansion of capabilities of the 5G industry 4.0 testbed at IBM Industry Solution Lab in Coppell, Texas, along with the collaboration with Verizon permitting the customers of the enterprise to develop and test innovation related to 5G that enable use in the applications of Industry 4.0. - 12th August 2021
Company Profiles
Some of the companies covered in this report are Huawei, Bosch, Dell, Bayshore, Google, Cisco, PTC, Siemens, Honeywell, etc.Countries Studied
- America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
- Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
- Middle-East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
- Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)
Competitive Quadrant
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.Why buy this report?
- The report offers a comprehensive evaluation of the Global Internet of Things Technology Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter’s 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
- The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report also contains the competitive analysis using Positioning Quadrants, the analyst's Proprietary competitive positioning tool.
Report Highlights:
- A complete analysis of the market, including parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Frequently Asked Questions about the Global Internet of Things Technology Market
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Report Attribute | Details |
---|---|
No. of Pages | 182 |
Published | December 2021 |
Forecast Period | 2021 - 2026 |
Estimated Market Value ( USD
| USD 412600 Million |
Forecasted Market Value ( USD
| USD 546900 Million |
Compound Annual Growth Rate | 5.8% |
Regions Covered | Global |
No. of Companies Mentioned | 20 |
Table of Contents
1 Report Description
2 Research Methodology
3 Executive Summary
5 Market Analysis
6 Global Internet of Things Technology Market, By Node Component
7 Global Internet of Things Technology Market, By Software Solution
8 Global Internet of Things Technology Market, By Platform
9 Global Internet of Things Technology Market, By Service
10 Global Internet of Things Technology Market, By End-Use Application
11 Global Internet of Things Technology Market, By Geography
12 Competitive Landscape
13 Company Profiles
14 Appendix
Companies Mentioned
- Aeris
- Amazon
- Bayshore
- Bosch
- C3 AI
- Cisco
- Dell
- Fujitsu
- Haier
- Honeywell
- Huawei
- IBM
- Micron Technology
- Microsoft
- Mitsubishi
- Philips
- PTC
- Semtech
- Siemens