Enterprise IoT Market Research Report - Global Forecast 2027

Enterprise IoT Market, By Component (Solution, Service), By Platform (Device Management, Application Management, Network Management) and By Enterprise Type (SMEs, Large Enterprises) – Forecast 2027

ID: MRFR/SEM/2892-HCR | February 2021 | Region: Global | 100 pages

Enterprise IoT Market Overview


The Enterprise IoT Market is projected to grow at a 26% CAGR. It is estimated that the market will grow further and reach up to USD 58 Billion during the forecast period 2017-2023. The growing Enterprise IoT Market Trends are positively driving the market such as the development of advanced technologies such as ZigBee, Insteon, Bluetooth, Wi-Fi, and many more.  These factors are expected to boost the Enterprise IoT Market growth exponentially.


On the other hand, the major companies such as Google, Amazon Web Services, IBM Corporation, etc. are fulfilling the market demand. Major driving factors such as the rising use of cloud systems for better management of data are boosting the growth. Also, the growing use of third-party platforms and growing digitalization are improving the IoT enterprise market.  The application of the Internet of Things has chances to develop and enhance the market at a significant rate.


It is estimated that the North American region will hold the largest market share. However, it will be difficult to manage the growth in underdeveloped nations such as Africa and the Middle East. It is because of the lack of technological advancements and other awareness. However, the Enterprise IoT Market will grow at a steady pace and generate more profit during the forecast period.  Hence, the investors looking for expanding their revenue will be benefitted exponentially.


COVID-19 Analysis


The impact of COVID-19 disease had affected the market at a huge rate. Due to the lockdowns implemented all over the world, it has drastically affected the market growth. It is because the supply chain of the market was halted. As a result, the market recorded a slower growth during the forecast period. However, the government is now focusing upon the infrastructure of healthcare to combat the pandemic. Hence, it will slow the market of the enterprise IoT world to some extent.


Market Dynamics


Market Drivers


Various driving factors are fuelling the Enterprise IoT Market Growth. It is because of the rising demand for digitalization and the growing adoption of cloud-based platforms. The Enterprise IoT Market will rise exponentially due to these factors because of its wide uses in various industries. Also, the lower costs for easy wireless connectivity such as Bluetooth, Wi-Fi, and many more are providing better options for the consumers.  Hence, the drastic shift of digitalization and demand for cloud-based services is driving the market growth.


Restraints


Some restraints such as the low technological awareness in various geographical regions will hinder the market growth. Especially the countries in the underdeveloped nations will have a slower growth rate as compared to the other regions. It is because of the low awareness and technological advancements. Also, until the situation of the COVID-19 disease gets improved, the market will experience slow growth overall.  The COVID-19 disease is projected to take some more years to make the situation better across the world.


Opportunities


With the growing adoption of IoT devices, business enterprises will have significant growth across the world. The reduced costs will help the enterprises to provide a better work environment and also gain new customers. Also, with the demand for wireless connectivity devices, the market will experience beneficial growth in the upcoming years. They can be used in healthcare sectors as well to monitor the improvement in the patients as well.


Challenges


One of the major challenges for Enterprise IoT Market growth is the high competition among the key players and other industries. Due to the rising demand, the key players are now developing new products to improve the market growth. However, there will be a challenge for the market due to the strict regulations by the government. Also, the disease of COVID-19 has not been completely eradicated until then, the market will have to suffer slower growth in the upcoming years.


Cumulative Analysis


With the growing development of the IoT enterprise business, there will be a huge demand in the upcoming period. The Compound Annual Growth Rate (CAGR) of the Enterprise IoT Market is projected to be at 26%. Hence, the market will expand at an exponential rate and grow up to USD 58 Billion during the forecast period 2017-2023.


Value Chain Analysis


The IoT or Internet of Things has huge potential and eventually gain increased value in the upcoming years. It is because IoT devices are not only used for enterprises. These IoT applications are used in various industries to manage the data and improve customer satisfaction as well. Hence, the market of enterprise IoT devices will reach new heights as it is anticipated by the end of the forecast period.


Market Segmentations


The Enterprise IoT Market Size is segmented into platform, component, enterprise, and services. On the basis of components, the market is divided into Remote Monitoring, Security, Network Bandwidth Management, and Security.


Based upon the services, the Enterprise IoT Market is further bifurcated into Support and Maintenance, Professional Services, Integration Managed Services and Deployment, and Consulting.


The enterprise IoT device, on the basis of the platform of the market, is divided into Application Management, Network Management, and Device Management.


On the basis of enterprise, the market is segmented into Large Enterprise and Medium and Small Enterprises.


Regional Analysis


The Enterprise IoT Market Share is divided into North America, Asia-Pacific, Europe, and the Rest of the World. According to the enterprise IoT insights, North America is projected to hold the largest market share. It is due to the larger adoption rate of the market than the other regions. Especially, due to the presence of various key players in the countries such as the US and Canada the market will flourish in the forthcoming years.


After that, the European region will also hold a significant share of the market growth. The better infrastructure and other industries such as healthcare, corporate, and education as well will boost the market. Along with that, the Asia-Pacific region is projected to record significant growth during the forecast period. Continuous development and investments will be on the list for the development of key players.


Competitive Landscape


There several companies in the Global Enterprise IoT Market that are using huge steps to generate profit. Due to the outbreak of COVID-19 disease, the market was affected badly. These key players are focusing on developing and inventing products to benefit the market.  Such as Hewlett Packard, a renowned company in the market announced partnerships with companies in the past. Here is the list of major key players in the global enterprise IoT market-



  • Microsoft Corporation (US)

  • Bosch Software Innovations GmbH (Germany)

  • Oracle Corporation (US)

  • Verizon Communication (US)

  • Hewlett Packard Enterprise (US)

  • Cisco Systems, Inc. (US)

  • Amazon Web Services, Inc. (US)

  • Intel Corporation (US)

  • Google Inc. (US)

  • IBM Corporation (US)


Recent Developments



  • In 2020, the Intel Corporation announced its new product called “11th Gen Intel Core Processor.” This product is enhanced with IoT devices to enhance the work experience of customers.

  • SAP SE collaborated with Amazon Web Services to increase its business portfolio and generate more revenue.


Report Overview


The overview of the Enterprise IoT Market is as follows-



  • Overview of the Market

  • COVID-19 Analysis

  • Dynamics of the Market

  • Value Chain Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments of the key players


Report Score and Segmentation



  • Study Period- 2017-2023

  • Base Year- 2021

  • Forecast Period- 2017-2023

  • Historical Period- 2017-2020


The scope of the report is to provide accurate data and highlight the potential of the market of enterprise IoT devices. The report covers all the important aspects such as challenges, opportunities, etc. It also contains brief information about the key players. The information provided in this report is collected from primary and secondary sources.


Market Segmentation


By Enterprise Type


  • Large Enterprise

  • Medium and Small Enterprises


By Services


  • Support and Maintenance

  • Professional Services

  • Integration Managed Services and Deployment

  • Consulting


By Component Solution


  • Remote Monitoring

  • Security

  • Network Bandwidth Management

  • Security


By Platform


  • Application Management

  • Network Management

  • Device Management


By Region


  • North America

  • Europe

  • Asia-Pacific

  • Rest of the World



Frequently Asked Questions (FAQ) :


It is projected that the global market of enterprise IoT devices is projected to grow at 26% CAGR.

It is projected that the market value of the Enterprise IoT Market will reach up to USD 58 Billion by the end of the forecast period.

Geographically, the global Enterprise IoT Market is projected to be dominated by North America.

The forecast period of the global Enterprise Internet of Things market report is 2017-2023.

It is estimated the software segment of components will drive the market due to the growing use of cloud applications.

The major key players of the global Enterprise System and Internet of Things (IoT) are- Microsoft Corporation (US), Bosch Software Innovations GmbH, Oracle Corporation, Verizon Communications, Hewlett Packard Enterprise, Cisco Systems, Inc., Amazon Web Services, Inc., Intel Corporation, Google Inc., IBM Corporation, among others.

TABLE OF CONTENTS

1 MARKET INTRODUCTION

1.1 INTRODUCTION

1.2 SCOPE OF STUDY

1.2.1 RESEARCH OBJECTIVE

1.2.2 ASSUMPTIONS

1.2.3 LIMITATIONS

1.3 MARKET STRUCTURE

2 RESEARCH METHODOLOGY

2.1 RESEARCH TYPE

2.2 PRIMARY RESEARCH

2.3 SECONDARY RESEARCH

2.4 FORECAST MODEL

2.4.1 MARKET DATA COLLECTION, ANALYSIS & FORECAST

2.4.2 MARKET SIZE ESTIMATION

3 MARKET DYNAMICS

3.1 INTRODUCTION

3.2 MARKET DRIVERS

3.3 MARKET CHALLENGES

3.4 MARKET OPPORTUNITIES

3.5 MARKET RESTRAINTS

4 EXECUTIVE SUMMARY

5. MARKET FACTOR ANALYSIS

5.1 PORTER’S FIVE FORCES ANALYSIS

5.2 SUPPLY CHAIN ANALYSIS

6 ENTERPRISE IOT MARKET, BY SEGMENTS

6.1 INTRODUCTION

6.2 MARKET STATISTICS

6.2.1 BY COMPONENT

6.2.1.1 SOLUTION

6.2.1.1.1 DATA MANAGEMENT

6.2.1.1.2 NETWORK BANDWIDTH MANAGEMENT

6.2.1.1.3 REMOTE MONITORING

6.2.1.1.4 SECURITY

6.2.1.2 SERVICE

6.2.1.2.1 PROFESSIONAL SERVICES

6.2.1.2.1.1 SUPPORT & MAINTENANCE

6.2.1.2.1.2 CONSULTING

6.2.1.2.1.3 DEPLOYMENT & INTEGRATION

6.2.1.2.2 MANAGED SERVICES

6.2.2 BY PLATFORM

6.2.2.1 DEVICE MANAGEMENT

6.2.2.2 ENTERPRISE TYPE MANAGEMENT

6.2.2.3 NETWORK MANAGEMENT

6.2.3 BY ENTERPRISE TYPE

6.2.3.1 SMES

6.2.3.2 LARGE ENTERPRISES

6.2.4 BY REGION

6.2.4.1 NORTH AMERICA

6.2.4.2 EUROPE

6.2.4.3 ASIA-PACIFIC

6.2.4.4 REST OF THE WORLD

7 COMPETITIVE ANALYSIS

7.1 MARKET SHARE ANALYSIS

7.2 COMPANY PROFILES

7.2.1 INTEL CORPORATION (U.S.)

7.2.2 CISCO SYSTEMS, INC. (U.S.)

7.2.3 MICROSOFT CORPORATION (U.S.)

7.2.4 ORACLE CORPORATION (U.S.)

7.2.5 IBM CORPORATION (U.S.)

7.2.6 GOOGLE INC. (U.S.)

7.2.7 HEWLETT PACKARD ENTERPRISE (U.S.)

7.2.8 AMAZON WEB SERVICES, INC. (U.S.)

7.2.9 BOSCH SOFTWARE INNOVATIONS GMBH (GERMANY)

7.2.10 VERIZON COMMUNICATIONS (U.S.)

7.2.11 OTHERS


LIST OF TABLES

TABLE 1 ENTERPRISE IOT MARKET, BY COMPONENT

TABLE 2 ENTERPRISE IOT MARKET, BY PLATFORM

TABLE 3 ENTERPRISE IOT MARKET, BY ENTERPRISE TYPE

TABLE 4 ENTERPRISE IOT MARKET, BY REGIONS

TABLE 5 NORTH AMERICA ENTERPRISE IOT MARKET, BY COMPONENT

TABLE 6 NORTH AMERICA ENTERPRISE IOT MARKET, BY PLATFORM

TABLE 7 NORTH AMERICA ENTERPRISE IOT MARKET, BY ENTERPRISE TYPE

TABLE 8 U.S. ENTERPRISE IOT MARKET, BY COMPONENT

TABLE 9 U.S. ENTERPRISE IOT MARKET, BY PLATFORM

TABLE 10 U.S. ENTERPRISE IOT MARKET, BY ENTERPRISE TYPE

TABLE 11 CANADA ENTERPRISE IOT MARKET, BY COMPONENT

TABLE 12 CANADA ENTERPRISE IOT MARKET, BY PLATFORM

TABLE 13 CANADA ENTERPRISE IOT MARKET, BY ENTERPRISE TYPE

TABLE 14 GERMANY ENTERPRISE IOT MARKET, BY COMPONENT

TABLE 15 GERMANY ENTERPRISE IOT MARKET, BY PLATFORM

TABLE 16 GERMANY ENTERPRISE IOT MARKET, BY ENTERPRISE TYPE

TABLE 17 U.K. ENTERPRISE IOT MARKET, BY COMPONENT

TABLE 18 U.K. ENTERPRISE IOT MARKET, BY PLATFORM

TABLE 19 U.K. ENTERPRISE IOT MARKET, BY ENTERPRISE TYPE

TABLE 20 EUROPE ENTERPRISE IOT MARKET, BY COMPONENT

TABLE 21 EUROPE ENTERPRISE IOT MARKET, BY PLATFORM

TABLE 22 EUROPE ENTERPRISE IOT MARKET, BY ENTERPRISE TYPE

TABLE 23 FRANCE ENTERPRISE IOT MARKET, BY COMPONENT

TABLE 24 FRANCE ENTERPRISE IOT MARKET, BY PLATFORM

TABLE 25 FRANCE ENTERPRISE IOT MARKET, BY ENTERPRISE TYPE

TABLE 26 ASIA-PACIFIC ENTERPRISE IOT MARKET, BY COMPONENT

TABLE 27 ASIA-PACIFIC ENTERPRISE IOT MARKET, BY PLATFORM

TABLE 28 ASIA-PACIFIC ENTERPRISE IOT MARKET, BY ENTERPRISE TYPE

TABLE 29 REST OF THE WORLD ENTERPRISE IOT MARKET, BY COMPONENT

TABLE 30 REST OF THE WORLD ENTERPRISE IOT MARKET, BY PLATFORM

TABLE 31 REST OF THE WORLD ENTERPRISE IOT MARKET, BY ENTERPRISE TYPE


LIST OF FIGURES

FIGURE 1 RESEARCH TYPE

FIGURE 2 ENTERPRISE IOT MARKET, BY COMPONENT (%)

FIGURE 3 ENTERPRISE IOT MARKET, BY PLATFORM (%)

FIGURE 4 ENTERPRISE IOT MARKET, BY ENTERPRISE TYPE (%)

FIGURE 5 ENTERPRISE IOT MARKET, BY REGIONS (%)

FIGURE 6 NORTH AMERICA ENTERPRISE IOT MARKET, BY COMPONENT (%)

FIGURE 7 NORTH AMERICA ENTERPRISE IOT MARKET, BY PLATFORM (%)

FIGURE 8 NORTH AMERICA ENTERPRISE IOT MARKET, BY ENTERPRISE TYPE (%)

FIGURE 9 EUROPE ENTERPRISE IOT MARKET, BY COMPONENT (%)

FIGURE 10 EUROPE ENTERPRISE IOT MARKET, BY PLATFORM (%)

FIGURE 11 EUROPE ENTERPRISE IOT MARKET, BY ENTERPRISE TYPE (%)

FIGURE 12 ASIA-PACIFIC ENTERPRISE IOT MARKET, BY COMPONENT (%)

FIGURE 13 ASIA-PACIFIC ENTERPRISE IOT MARKET, BY PLATFORM (%)

FIGURE 14 ASIA-PACIFIC ENTERPRISE IOT MARKET, BY ENTERPRISE TYPE (%)

FIGURE 15 REST OF THE WORLD ENTERPRISE IOT MARKET, BY COMPONENT (%)

FIGURE 16 REST OF THE WORLD ENTERPRISE IOT MARKET, BY PLATFORM (%)

FIGURE 17 REST OF THE WORLD ENTERPRISE IOT MARKET, BY ENTERPRISE TYPE (%)