DUBLIN, November 22, 2021–(BUSINESS WIRE)–The “Global Internet of Things Market and Trends 2021” report has been added to ResearchAndMarkets.com’s offering.
International Internet of Things value was forecasted to cross a USD one trillion mark by 2024
Defined as a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers (UIDs), Internet of Things (IoT) offers the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.
Both consumers and businesses are increasingly adopting IoT for numerous purposes and the technology is being implemented rapidly across the globe. Moreover, by 2024, international IoT market revenue was calculated to cross a USD one trillion point and by 2030 the number of connected devices will likely reach nearly thirty billion worldwide. Furthermore, observing the trend, global companies’ executives defined the incorporation of IoT into their business as an important strategic objective, according to the surveys cited in this publication.
Already in 2020, a major proportion of the IoT revenue worldwide was attributed to the industrial Internet of Things, with transportation equipment, machinery manufacturing, as well as computer and electronic products manufacturing as the leading sectors.
Western Europe is going by leaps and bounds in consumer IoT adoption
According to the 2021 forecast cited in this market report, the largest number of IoT connections in 2030 will be registered in Europe, as compared to other global regions. Following the same estimates, the region will be followed by North America, Asia, Latin America and Middle East & Africa. This, however, comes as no surprise, as already in 2021, almost nine in ten of all West European and more than eight in ten of all East European connectivity service suppliers were the fast wireless link required for IoT optimization.
Further, the adoption of consumer IoT, including Internet-connected home energy management, security- and safety connections, home appliances, virtual assistants, TV, and game consoles, was substantially higher in Western Europe than in other EU countries, with the Netherlands, Iceland, Norway, and the UK among the leaders.
Meanwhile, in the United States, half of the adults who had to work from home during COVID-19, purchased new smart home devices to advance their homes and improve the working conditions. Additionally, smart lighting, and smart security cameras or video doorbells were the top two smart home product categories that US adults planned to purchase within the H2 of 2020 and H1 2021. In Asia, meanwhile, the adoption of IoT is also progressing, and by 2030, Southeast Asia was forecasted to lead the regional IoT adoption level.
This report covers the global Internet of Things (IoT) market. IoT is defined as a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers (UIDs) and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction. The report offers insights into the state of IoT technology in different regions across the globe, recent and possible future developments, consumer preferences, technological advances and more.
In addition to the global data, major global regions in worldwide IoT are covered in the report, including Europe, North America, Asia, Latin America and the Middle East & Africa. The current status of IoT itself and data availability varied by region and country.
Key Topics Covered:
1. Management Summary
2. Global Market Overview
Overview of the Trends on the IoT Market and IoT Business Applications, September 2021
Overview of the Current State of IoT Technologies and Trends, June 2021
Revenue of the Internet of Things Market, in USD billion, 2019 & 2020 & 2024f
Number of The Installed IoT Connections, in billions, 2019-2030f
Mapping of Sectors, by IoT Recurring Revenue, in USD million, and CAGR, in %, 2020-2030f
Number of Connected IoT Devices, by Wide- and Short-Range Devices, in millions, 2017-2026f
Mobile Subscriptions Number, by Category, incl. LTE and 5G, in millions, 2019 & 2020 & 2026f
Total Data Traffic, in EB/Months, and Mobile Data Traffic, in GB/Month, per Device, 2019 & 2020 & 2026f
Top 5 Government IoT Endpoint Electronics and Communications Revenue, by Use Cases, in USD billions, 2019-2021
Technologies that are Expected to Support Companies in Recovering from COVID-19, in % of Senior Executives, Summer 2020
Industrial IoT Revenue, by Segments, in %, 2020
Industrial IoT Data Generation, by Regions, in %, 2020 & 2025f
Regions’ Market Shares of Industrial IoT Devices, in %, 2020
Number of Smart Home Devices in Active Use, in billions, 2020 & 2025f
Smart Home Devices Shipments, by Product Type, in millions, and Market Share, in %, 2020 & 2025f
Share of Individual and by Subscription Smart Home Devices Purchases, in % of Total, 2025f
Share of Households with Smart Home Automation in Use, in % of Total, 2025f
Top 4 Regions/Countries by Unit Shipments of Smart Devices Growth Rate, 2020-2025f
3.2. United Kingdom
4. North America
4.2. United States
5.4. South Korea
6. Latin America
7. Middle East and Africa
7.4. Saudi Arabia
For more information about this report visit https://www.researchandmarkets.com/r/rwj73m
View source version on businesswire.com: https://www.businesswire.com/news/home/20211122006449/en/
Laura Wood, Senior Press Manager
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