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The market for Internet of Things (IoT) was valued at USD 100.8 billion in 2022 and is projected to increase at a CAGR of 28.7% over the period of analysis (2023-2030), reaching USD 784.6 billion by 2030. The increased requirement for Internet of Things (loT) security, as well as the utilisation of IoT technology in the healthcare industry, are the primary main drivers responsible for the expansion of the market.
IoT platforms and solutions and services given by the providers, such as AT&T, Inc., have been offering solutions such as deployment services, automotive solutions, integrated solutions, smart cities, and a variety of other solutions. Network connectivity, data control and exchange, connectivity management, and edge computing are all services that Cisco Systems, Inc. provides. Siemens AG offers a variety of solutions, including industrial edge, digital twin, and others.
The market for internet of things devices is growing as a result of increased internet speeds and wider use. In engineering applications, the Internet of Things technology automates processes and increases productivity. However, the reliance on network-controlled Internet of Things devices creates potential security risks. The application of blockchain technology is widely acknowledged as a dependable way to answer issues regarding the security of IoT. In addition to ensuring the data's integrity and preventing unauthorised access, it also offers a trusted environment for the safe sharing of IoT data. It is anticipated that the growing need for internet of things (IoT) security would fuel the market CAGR of the internet of things market over the forecast period.
In Internet of Things devices, the sensors are the most vital component. They contribute to the generation of information regarding the status or occurrence of a physical phenomenon. Sensors are able to monitor everything in their environment, from biometrics such as blood pressure and heart rate to orientation, motion, light, sound, humidity, and temperature. Some of the things that sensors can measure are orientation, motion, light, sound, and temperature. These sensors will be the key to making the Internet of Things across all industrial verticals and in a variety of application areas practically viable. In addition, ongoing progress in sensor technology is anticipated to contribute significantly to the expansion of IoT capabilities. Initially, the price of sensors utilised in Internet of Things devices was relatively high, which led to a restricted amount of industry participation in the adoption of the technology. On the other hand, the precipitous decline in the costs of these sensors has contributed to a discernible acceleration in the rate of Internet of Things adoption among businesses. Over the course of the last ten years, there has been a considerable drop in the price of some low-frequency passive categories of Radio Frequency Identification (RFID) tags and sensors. In addition, the typical price of a sensor has dropped significantly, from $1.30 US Dollars per unit in 2004 to $0.38 US Dollars per unit in 2020. Because of their widespread use and low cost, sensors and gadgets that are becoming increasingly less likely to be considered technological advances as the Internet of Things industry evolves.
IoT projects deliver a variety of benefits to companies and infrastructure initiatives from the government in all areas, including transportation, building, utilities, and citizen services. These benefits can be broken down into four categories. Putting them in a position to have better control and monitoring of the equipment and services they provide can be accomplished with the help of smart solutions in these areas. It is necessary for industries to direct their resources in order to make the most of the benefits offered by the internet of things. It has been noticed that just a fraction of the workforce in a number of different sectors is familiar with the functions and advantages offered by IoT. A significant element that is dragging down the development of a smart ecosystem is the widespread lack of understanding among the general population. In many locations, residents are also unaware of the projects being undertaken by smart cities, which reduces the level of incentive that governments have to implement intelligent solutions for cities.
The Internet of Things is dependent on both the continual development of technology and the improvement of operational efficiencies in order to operate effectively. Several nations in Asia, the Pacific, the Middle East, and Africa, as well as Latin America, are unable to rapidly execute smart projects for a variety of reasons, including a lack of financial resources and a low literacy rate. This causes these nations to struggle with the lack of availability of fundamental technologies, such as telecom and networking infrastructure. In contrast, the trials of the 5G technology have been completed in some nations, such as China, although the 4G technology has not yet reached its full maturity or even been adopted in those countries. The initial budget constraint plays a crucial part in limiting the development of the Internet of Things market in such nations, despite the fact that the governments and businesses of such countries are aware of the benefits of IoT technology and the huge RoI from the market. Even established nations, such as those in Europe and North America, struggle with the challenge of upgrading their ageing infrastructures to ones that are more modern and technologically advanced.
Report Coverage
Global Internet of Things (IoT) research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Internet of Things (IoT) report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Internet of Things (IoT) competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Internet of Things (IoT) market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Internet of Things (IoT) market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Internet of Things (IoT) market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Amazon Web Services (US), AT&T Inc. (US), Cisco System Inc. (US), Google Inc. (US), Oracle Corporation (US), Dell Inc. (US), Microsoft Corporation (US), Hitachi Data Systems (U.S.) Huawei Technologies Co. Ltd. (China)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Internet of Things (IoT) market based on the below-mentioned segments:
Global Internet of Things (IoT) Market, By Component
Hardware
Software
Services
Global Internet of Things (IoT) market, By Organization
Large Enterprises
TIME
Global Internet of Things (IoT) Market, By End User
Industry
Consumer
Global Internet of Things (IoT) market, Regional Analysis
IoT platforms and solutions and services given by the providers, such as AT&T, Inc., have been offering solutions such as deployment services, automotive solutions, integrated solutions, smart cities, and a variety of other solutions. Network connectivity, data control and exchange, connectivity management, and edge computing are all services that Cisco Systems, Inc. provides. Siemens AG offers a variety of solutions, including industrial edge, digital twin, and others.
The market for internet of things devices is growing as a result of increased internet speeds and wider use. In engineering applications, the Internet of Things technology automates processes and increases productivity. However, the reliance on network-controlled Internet of Things devices creates potential security risks. The application of blockchain technology is widely acknowledged as a dependable way to answer issues regarding the security of IoT. In addition to ensuring the data's integrity and preventing unauthorised access, it also offers a trusted environment for the safe sharing of IoT data. It is anticipated that the growing need for internet of things (IoT) security would fuel the market CAGR of the internet of things market over the forecast period.
In Internet of Things devices, the sensors are the most vital component. They contribute to the generation of information regarding the status or occurrence of a physical phenomenon. Sensors are able to monitor everything in their environment, from biometrics such as blood pressure and heart rate to orientation, motion, light, sound, humidity, and temperature. Some of the things that sensors can measure are orientation, motion, light, sound, and temperature. These sensors will be the key to making the Internet of Things across all industrial verticals and in a variety of application areas practically viable. In addition, ongoing progress in sensor technology is anticipated to contribute significantly to the expansion of IoT capabilities. Initially, the price of sensors utilised in Internet of Things devices was relatively high, which led to a restricted amount of industry participation in the adoption of the technology. On the other hand, the precipitous decline in the costs of these sensors has contributed to a discernible acceleration in the rate of Internet of Things adoption among businesses. Over the course of the last ten years, there has been a considerable drop in the price of some low-frequency passive categories of Radio Frequency Identification (RFID) tags and sensors. In addition, the typical price of a sensor has dropped significantly, from $1.30 US Dollars per unit in 2004 to $0.38 US Dollars per unit in 2020. Because of their widespread use and low cost, sensors and gadgets that are becoming increasingly less likely to be considered technological advances as the Internet of Things industry evolves.
IoT projects deliver a variety of benefits to companies and infrastructure initiatives from the government in all areas, including transportation, building, utilities, and citizen services. These benefits can be broken down into four categories. Putting them in a position to have better control and monitoring of the equipment and services they provide can be accomplished with the help of smart solutions in these areas. It is necessary for industries to direct their resources in order to make the most of the benefits offered by the internet of things. It has been noticed that just a fraction of the workforce in a number of different sectors is familiar with the functions and advantages offered by IoT. A significant element that is dragging down the development of a smart ecosystem is the widespread lack of understanding among the general population. In many locations, residents are also unaware of the projects being undertaken by smart cities, which reduces the level of incentive that governments have to implement intelligent solutions for cities.
The Internet of Things is dependent on both the continual development of technology and the improvement of operational efficiencies in order to operate effectively. Several nations in Asia, the Pacific, the Middle East, and Africa, as well as Latin America, are unable to rapidly execute smart projects for a variety of reasons, including a lack of financial resources and a low literacy rate. This causes these nations to struggle with the lack of availability of fundamental technologies, such as telecom and networking infrastructure. In contrast, the trials of the 5G technology have been completed in some nations, such as China, although the 4G technology has not yet reached its full maturity or even been adopted in those countries. The initial budget constraint plays a crucial part in limiting the development of the Internet of Things market in such nations, despite the fact that the governments and businesses of such countries are aware of the benefits of IoT technology and the huge RoI from the market. Even established nations, such as those in Europe and North America, struggle with the challenge of upgrading their ageing infrastructures to ones that are more modern and technologically advanced.
Report Coverage
Global Internet of Things (IoT) research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Internet of Things (IoT) report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Internet of Things (IoT) competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Internet of Things (IoT) market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Amazon Web Services (US), AT&T Inc. (US), Cisco System Inc. (US), Google Inc. (US), Oracle Corporation (US), Dell Inc. (US), Microsoft Corporation (US), Hitachi Data Systems (U.S.) Huawei Technologies Co. Ltd. (China) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Internet of Things (IoT) Market from 2021 to 2030.
- Market Forecast for Internet of Things (IoT) Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Internet of Things (IoT) competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Internet of Things (IoT)
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Internet of Things (IoT) market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Internet of Things (IoT) market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Amazon Web Services (US), AT&T Inc. (US), Cisco System Inc. (US), Google Inc. (US), Oracle Corporation (US), Dell Inc. (US), Microsoft Corporation (US), Hitachi Data Systems (U.S.) Huawei Technologies Co. Ltd. (China)
Primary Target Market
- Market Players of Internet of Things (IoT)
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Internet of Things (IoT) market based on the below-mentioned segments:
Global Internet of Things (IoT) Market, By Component
Hardware
Software
Services
Global Internet of Things (IoT) market, By Organization
Large Enterprises
TIME
Global Internet of Things (IoT) Market, By End User
Industry
Consumer
Global Internet of Things (IoT) market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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