Global Internet of Things MarketPosted by manisha on March 22nd, 2021 Global Internet of Things Market is having a major impact on businesses and consumers alike consequently changing the face of the global economy in the upcoming future. Accordingly, with 2019 as a base year, 30 Billion Devices are to be connected to the internet by 2019, representing nearly half (46 percent) of total connected devices. Also, the Global Internet of Things (IoT) market reached USD 598.2 Billion in 2015 and is expected to reach USD XX Trillion by 2026. At a Compound Annual Growth Rate (CAGR) of XX % during the forecast period 2019-202 globally. As per our research, 96% of global businesses consider IoT important to better monitor and control physical assets; efficiency being the major driving force. An efficient IoT market to manage such high device volumes, diversity and geographies is the need of the time. The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Maximize Market Research has carried out extensive research about the current Global IoT Market outlook with respect to its corresponding segments including its applications in various fields as well as the assuring future of the technology in those sectors. Report segments Global IoT Market by Technology, Application and Regions, providing a comprehensive analysis of the ecosystem of industry, which will be useful to make an informed strategic decision to the stakeholders in the industry. Importantly, the report delivers forecasts of the market, giving an insight into the future opportunities that exist in the Global IoT Market. The driving forces, as well as considerable restraints, have been explained in depth. Hardware domain, with nearly 0 billion investment towards modules and sensors along with some spending on infrastructure and security will be the largest technology category currently. Services will occupy the second place followed by software and connectivity. By 2024, around 60% of total IoT spending will be for software and services. The software will also be the fastest growing technology segment with a five-year CAGR of 17% led by application software along with analytics software, IoT platforms, and security software. Services spending will also grow at a faster rate than overall spending with a CAGR of 18.1% and will nearly equal hardware spending by the end of the forecast. Based on the end user, the report segments the market broadly in two categories i.e. Business to Consumer (B2C) and Business to Business (B2B). For the applications where services are directly provided to the consumers (B2C) market is divided between sectors such as Home automation, Lifestyle, Health, Mobility, and Others. Whereas B2B market is distributed between various industries such as Healthcare, Manufacturing, Banking and Finance Services, Insurance, Agriculture, Public Services, Retail & Wholesale and Others. Though The B2B segment is in dominance for the forecast period, the growth prospect of B2C shows the formidable upward trajectory during the same period. Amongst the industries, Manufacturing, Transportation and Healthcare and Utilities are the fourth runners in spending most on IoT solutions. IoT spending among manufacturers will be intensively targeted toward solutions supporting manufacturing operations and production asset management. Freight monitoring followed by fleet management occupies a nearly two-thirds share of IoT spending in Transportation. Smart grids for electricity, gas, and water will dominate the Utility sector whereas Cross-Industry IoT areas such as connected vehicles and smart buildings, will be nearly XXX billion in 2018 and rank among the top areas of spending throughout the forecast years. If global regions are taken into consideration, North America. Europe and the Asia Pacific (APAC) will form three key regions contributing to the global demand of Internet of Things Market. The Asia Pacific, a dynamic group of rapidly developing economies is expected to grow at the highest rate for an Internet of Things Market with a presence of IT industries along is expected to hold the largest market share in forecast years. Rapid digitization along with technological dependency and further advancements have acted as key drivers for the growth of the Internet of Things Market in North America. APAC, with a surge in IT infrastructure development acting as some of the major factors to boost overall demand. In 2018, Asia/Pacific Region will spend more than 0 Billion followed by North America at around 0 billion. Nation wise China carries the baton with around 5 Billion investment in IoT which is driven by investments from manufacturing, utilities, and government. The USA is following closely with 0 Billion spending led by manufacturing, transportation, and the consumer segment. Japan ( billion) and South Korea ( billion) will be the third and fourth largest countries in 2018. Looking at the future, Latin America is supposed to deliver the fastest overall growth with a CAGR of around 30%. For more information of visit:https://www.maximizemarketresearch.com/market-report/internet-of-things-market/636/ Global Internet of Things Market, BY SERVICE • Consulting Service • Device Management • Security Software • Healthcare • Satellite Network • Bosch software innovation This Report Is Submitted By : Maximize Market Research Company Customization of the report: Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities. About Maximize Market Research: Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors. Like it? Share it! More by this author |
