Companies Profiled in the Market: Amazon.com Inc., AT&T Inc, Bosch Software Innovations GmbH, Cisco Systems, Inc., IBM Corporation, Intel Corporation, Oracle Corporation, Microsoft Corporation, SAP SE, Siemens AG
Pune, India, Nov. 10, 2021 (GLOBE NEWSWIRE) — The global IoT market size was USD 308.97 billion in 2020. The market is projected to grow from USD 381.30 billion in 2021 to USD 1,854.76 billion in 2028 at a CAGR of 25.4% in the 2021-2028 period. This information is provided by Fortune Business Insights™ in its report titled, “Internet of Things (IoT) Market, 2021-2028.”
According to our expert analysts, the ability of IoT devices to interact with each other-self-reliantly without human interference is expected to open fresh revenue sources, fuel business proficiencies, empower novel business models, and augment the method of how prevailing services are offered across numerous diverse industries and sectors.
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List of Key Players Covered in the Internet of Things (IoT) Market Report
Amazon Web Services, Inc. (Washington, U.S.)
AT&T, Inc. (Texas, U.S.)
Robert Bosch LLC (Gerlingen, Germany)
Cisco Systems, Inc. (California, U.S.)
IBM Corporation (New York, U.S.)
Oracle Corporation (California, U.S.)
SAP SE (Walldorf, Germany)
Siemens AG (Munich, Germany)
Broadcom, Inc. (California, U.S.)
Texas Instruments, Inc. (Texas, U.S.)
Internet of Things (IoT) Technology to be utilized to Tackle Coronavirus Situation
Healthcare professionals and producers are working incessantly to offer appropriate services in order to safeguard residents from being infected by novel coronavirus disease. Moreover, hospitals have initiated the usage of linked thermometers to observe patients and work for personnel. For example,
In January 2021, Nuance Communication, Inc. unveiled an AI-empowered virtual associate medium for patient communication in order to alter vocal and digital experiences throughout the patient’s stay at the hospital.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/internet-of-things-iot-market-100307
We provide reports which are conducted with an all-inclusive examination approach that majorly emphasizes delivering precise material. Our scholars have applied a data triangulation method which further assists us in offering trustworthy estimations and testing the general market dynamics accurately. Further, our analysts have received admission to numerous international as well as regional funded registers for providing the up-to-date material so that the stakeholders and business professionals invest only in essential zones.
Based on the component, the market is divided into platforms and solutions & services. The platform is further sub-segmented into device management, cloud platform, and network management. Network management holds a significant market share due to the rising need for remote monitoring systems and internet-enabled devices in organizations.
On the basis of end-use industry, the market has been segregated into BFSI, retail, government, healthcare, manufacturing, agriculture, sustainable energy, transportation, IT & telecom, and others.
The market has been branched across five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Drivers and Restraints
Increasing Smart City Programs Set to Spur Market Growth
As the world shifts towards urbanization, the increasing number of smart city ventures and rising government spending towards the digital bionetworkis are estimated to upsurge the demand for IoT devices.
Moreover, the IoT platforms and gadgets are utilized for observing movement, infrastructures, and air and water superiority to refine infrastructure, public services, as well as services. For example,
According to IoT Analytics, the European Innovation Partnership for Smart Cities and Communities (EIP-SCC) has expended about USD 1.12 billion to build around 300 smart cities based in Europe in 2019.
This is expected to bolster the internet of things market growth.
Asia Pacific to Lead Backed by Surging Government Expenditure
Asia Pacific was responsible for the maximum market share owing to the rising smart city programs by the government and cloud expenditure in the region. Communication service suppliers and producers in the Asia Pacific industry are extending their product collection.
North America has made substantial development in the embracement of IoT, particularly in the industrial and automotive sectors. Nevertheless, the upsurge in the number of data openings has made a significant contribution toward the requirement for security solutions.
The European internet of things market is projected to display the highest CAGR during the forecast period.
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Reputable Players Financing in Fundamental Technologies to Remain Competitive in Market
Companies are making considerable investments in progressive technologies such as Artificial Intelligence AI, cloud computing, and others. Investments in innovative technologies have empowered chief players to extend their business into several end-user industries and attain a competitive edge.
Recognized market players are making significant financing in startups and mid-scale corporations to provide proficient solutions to the end-use sectors such as healthcare, industrial production, retail, and others.
October 2020: DENSO Corporation presented Factory-IoT Platform that allows the notion of ‘as if under one roof.’ This platform aids in associating about 130 production facilities across the globe permitted with Information Technology (IT) and IoT technologies.
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Table Of Content
Macro and Micro Economic Indicators
Drivers, Restraints, Opportunities and Trends
Impact of COVID-19
Global Internet of Things Key Players Market Share Insights and Analysis, 2020
Key Market Insights and Strategic Recommendations
Companies Profiled(Covered for key 10 players only)
Annexure / Appendix
Global Internet of Things (IoT) Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
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