Global Internet of Things (IoT) Market Size was valued nearly USD 521.23 billion by 2018 and is estimated to reach up to USD xx.xx billion by 2025. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 21.75% during the forecast period that is 2017-2025. Internet of Things or IoT is defined as the network that helps in connecting smart devices that are integrated with software and network and exchange the information among others and with the server. There are various factors that are supporting the Internet of Things market such as rapid industrialization, communication, smart manufacturing, and development of smart cities, and others. IOT helps the organizations to achieve the maximum efficiency and, help the countries to maximize their communication system and provide the continuous experience by offering advanced and latest technologies.

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global IoT market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global IoT market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.    

Market Dynamics

The market is witnessing growth due to the increasing urbanization, growing development of smart cities, and advanced technology. IoT primarily includes various devices, solutions, and services that primarily have connectivity feature with the internet. These devices are further integrated with chip, sensors and others to enhance the user’s experience. The increase in the trend of internet-enabled devices and increasing need for internet connectivity are major factors that are anticipated to foster the market growth. In addition, growing advancements in electronics, manufacturing, and IT sectors globally are gaining momentum from consumers which in turn has increased the demand for IoT. Increase in the use of the internet along with the growing penetration of smartphone users around the globe is another factor that led to the market growth.

By Component Insights: Based on the component, the market is categorized as hardware, and services. Among this, the service segment is growing with a highest CAGR during the forecast year. The market is witnessing growth due to the growing adoption of connected devices across organization and the development of high-speed networking technology. In addition, with the incorporation of new services and solutions into the company’s system or the infrastructure compels the company to be adapted with complete detailed insights about the services. Additionally, the organizations should have in-depth knowledge about the benefits and the services that can be offered to their customers and employees.

By Platform Insights: Based on the platform, the market can be segmented as application management platform, connectivity platform and device management platform.  The application management platform is expected to dominate the market during the forecast period followed by connectivity platform and device management platform.

By Applications Insights: Based on the application the market is categorized as Building and Home Automation, Smart Energy and Utilities, Smart Manufacturing, Smart Retail, Connected logistics, Connected Health, and others. Among this smart manufacturing, a segment is anticipated to grow with the highest CAGR over the coming years. Smart manufacturing is the combination of machine gathered data and human intelligence, and the sharing of data take place between sensors, computerized control, IT, and production management software. It primarily connects and synchronizes the stages of manufacturing, ranges from production to advanced plant-wide efficiency. In addition, it helps in the developing advanced models and simulation for enhancing the manufacturing process across organizations. For instance, manufacturing processes is being connected by hard wiring, WiFi, Bluetooth, RFID networks including LoRa and LTE M, and even IoT Terminals that work and connect via flexible industrial interfaces.

Regional Analysis

The global internet of things (IoT) market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players. North America is anticipated to have the largest market share in the IoT market during the forecast period. The countries in this region have established economies, which further empowers them to invest in R&D. The rapid digitalization across industry verticals, growing adoption of smart connected devices, and the technological advancements have further fueled the growth of the IoT market in this region. For instance, various consumer products like Fitbit, Square and Nest uses wireless IoT technology to provide in real time information to users, and many people have come to expect that sort of ease and immediacy.

Global Internet of Things (IoT) Market Size, Share Analysis, By Region 2017

APAC region has also adopted IoT and is anticipated to be the rapidly growing market. This region has developed as the frontline of IoT with an increasing number of government authorities that is fostering the demand, and growing number of connected IoT is also expected to increase in the forecast years. In addition, with the increase in the development of smart cities it is further anticipated to foster the market growth. For instance in India 110 of India’s cities have prepared a Smart City proposal for India’s Smart City Mission, among them 99 of which were selected under the program and is expected to be completed during the forecast years. Middle East and Africa held the measurable growth in the global market in 2018 and will expand at the significant CAGR during the forecast years.

Key Players Landscape

The key players that are operating in the market globally includes Oracle Corporation, Dell Inc., Microsoft Corporation, Hitachi Data Systems, Amazon Web Services, AT & T Inc., Cisco System Inc., Huawei Technologies Co. Ltd., and others. The strategy most of the established players in the market adapt to grow include enhancement of new product, partnerships, mergers, agreements, and procurement. For instance, in December 2017, Amazon Web Services, Inc. (AWS), an Amazon.com company, has launched AWS EU (Paris) Region. With this launch, the AWS will be providing 49 availability zones across 18 technology infrastructure regions across the globe with another 12 availability Zones and four regions in Bahrain, Hong Kong SAR, Sweden, and a second AWS GovCloud Region in US, which is expected to be online by early 2019.

Global Internet of Things (IoT) Market Study Report Offer You!

The global market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.