Internet Of Things Market 2021 – Global Forecast To 2030
The Business Research Company’s Internet Of Things (IoT) Market 2021 – Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON , UK, November 15, 2021 /EINPresswire.com/ — The increasing adoption of 5G networks is expected to drive the IoT market in the forecast period. 5G networks would accelerate the uptake of IoT applications and services and enable new use cases in remote monitoring and visual inspection, autonomous operations in large-scale remote environments such as mines, connected vehicles and more. The increased bandwidth offered by 5G allows more data to be sent during a given period of time and the lower latency allows data to reach its destination faster. These networks provide increased coverage which supports multiple network topologies allowing IoT enabled devices to communicate easily. According to Ericsson’s latest Mobility Report, the number of worldwide 5G smartphone subscriptions in 2021 will increase to 600 million increasing by 3 times from the 2020 total. By 2022, 5G subscriptions are expected to surpass the one-billion mark
The global internet of things market reached a value of nearly $244.47 billion in 2020, having increased at a compound annual growth rate (CAGR) of 18.2% since 2015. The market is expected to grow from $244.47 billion in 2020 to $767.30 billion in 2025 at a rate of 25.7%. The IoT market size is then expected to grow at a CAGR of 16.6% from 2025 and reach $ 1,655.57 billion in 2030.
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Major players covered in the global internet of things industry are Cisco Systems, Inc., Bosch Software Innovation GmbH, Microsoft Corporation, Intel Corporation, International Business Machine (IBM) Corporation.
Use of the IoT in the healthcare industry is a key trend gaining popularity in the IoT market. Remote monitoring in the healthcare industry has become possible due to Internet of Things (IoT)-enabled devices, unleashing the ability to keep patients safe and secure while also motivating physicians to provide exceptional treatment. The IoT is significantly changing the healthcare sector by redefining the space of devices and human involvement in the delivery of healthcare solutions. For instance, according to a study by data driven investor, the healthcare sector accounted for 40% of all IoT devices in 2020, and revenues from healthcare-related IoT are expected to reach $135 billion by 2025.
TBRC’s IoT market report is segmented by platform into device management, application management, network management, by end- use into BFSI, retail, government, healthcare, manufacturing, transportation, IT and telecom, others, by application into building and home automation, smart energy and utilities, smart manufacturing, connected logistics, smart retail, smart mobility and transportation, others.
Internet Of Things (IoT) Market 2021 – By Platform (Device Management, Application Management, Network Management), By End-Use Industry (BFSI, Retail, Government, Healthcare, Manufacturing, Transportation, IT and Telecom), By Application (Building And Home Automation, Smart Energy And Utilities, Smart Manufacturing, Connected Logistics, Smart Retail , Smart Mobility And Transportation) And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides internet of things (IoT) market overview, forecast internet of things (IoT) market size and growth for the whole market, internet of things (IoT) market segments, and geographies, internet of things (IoT) market trends, internet of things (IoT) market drivers, Internet Of Things (IoT) Market forecast, Internet Of Things (IoT) Market analysis, Internet Of Things (IoT) Market overview, Internet Of Things (IoT) Market restraints, Internet Of Things (IoT) Market leading competitors’ revenues, profiles, and Internet Of Things (IoT) Market market shares.
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November 15, 2021, 11:14 GMT
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