Internet of Things (IoT) Market Forecast, Size, Share, Trends | IoT Industry Research Report 2027

Internet of Things (IoT) Market, By Software (Data Management, Network Management), By Hardware(Sensors, camera), By Services (Manage Services, Professional Services), By Organization Type (Small and Medium Scale Business, Large Scale Business) - Forecast 2027

ID: MRFR/ICT/0670-HCR | February 2021 | Region: Global | 110 pages

Internet of Things Market Overview:


Internet of Things Market is emerging as the next big thing for both businesses, as well as organizations. This concept is related to the networking of small devices that are fixed with the sensors of software electronics. This is done in the network connectivity so that the information in between the connected objects can be transferred with ease. IoT is the next big thing for the future as it allows the proper controlling of the entities with the help of a standing and supportive network infrastructure. There is a high possibility that the digital and the physical world collaborate as one with the help of computer-based structures.


The concept of the Internet of Things is opening its doors to many end-users like consumers and groups, industries and enterprises, and governments, as well. It is growing and well amplifying the counter-productivity at many places. Hence, the internet of things market is expected to grow at a CAGR percentage of 19.75 by the end of 2022.


Internet of Things Market COVID 19 Analysis: The global coronavirus pandemic led to a global shutdown of markets, businesses, and services. There was a demand for essential commodities only as the people struggled to pace up with the more than normal requirements. The manufacturing industries and business entities had low demands despite the availability of raw material for the good quantum of production.


The internet of things market is targeting human needs by limiting or reducing the involvement of the human race. The internet is the main source. The realization of the internet being a necessity was felt during the lockdown that provided a boost to the internet of things during the pandemic. IoT services have the potential to serve the needs of both places and people. The coronavirus pandemic saw a similar situation where everything could be accessed digitally. Some companies are opting for providing IoT services thus, adding to the expansion happening in the current scenario.


Internet of Things Market Dynamics: Drivers: The internet of things comes tagged along with a better chance of increased productivity and precision along with monetary assistance. Also, there is lesser human involvement, which is acting as a major driving force. Also, the pandemic era saw the rise of the internet as a major necessity and was used in every nook and corner of the world. With the internet of things, there is an increase in the possession of pcs, smartphones, tablets, connected cars, as well as the wearables available in the market.


Restraints: Some of the devices that make use of the internet of things still are equipped with one kind of uncertainty. This is related to the use of devices connected. There is a high risk associated with the security issues and hacking problems that need to be resolved on high priority. Also, the sudden switch to a digital world from a physical one is unable to get easy adaptability by some.


Opportunities: Most of the industries, governments, associations, and individuals are opting for the internet of things market because of the amount of integration and productivity it has brought along. There has been an enormous technological explosion and enterprises from different places are growing their share of investment in the internet of things industry. The internet of things market analysis represents that it is the next big thing for businesses globally, integrating and having a direct connection with the physical world.


Global IoT Market


 


Internet of Things Market Technology Analysis: There are many industries on the global level that are witnessing a vast revolution to bring a change in the type of services that are being rendered to their customers. The focus is now on the provision of services that are more handy, reasonable, as well as, superior. Also, the market is undergoing new developments and launches concerning the concept of the internet of things. This is exposing the customer base to a high-edge and vibrant technology. The inventions are such that all the advancements of industries are being made available to the customers. Telecommunication along with broadband services are coming into the picture as the face of the internet of things, thus creating a strong and satisfied customer base.


Internet of Things Market Segment Overview: The internet of things (IoT) market analysis shows that the market has segmentations based on many factors like the hardware and software, industries, the region and market, services, organization, as well as the platform. Software-based segmentation includes data and network management, remote monitoring and security solutions, and much more. Hardware-based bifurcations include sensors and cameras, network devices, as well as security functions.


Further for services, the market comes inclusive of the managed and the professional services. Based on the platform, the market has application management, device management, as well as connectivity platforms. Organisations include small and medium, as well as large-sized enterprises. Retail, IT, telecom, manufacturing, automotive, etc. are a part.


Internet of Things Market Regional Analysis: As far as the global forecast year of 2022 is concerned, the North American market is expected to have the biggest share in the internet of things (IoT) market. The internet of things (IoT) market analysis shows that the key companies of the North American region are already putting efforts to amplify the voice related to the benefits of this technology. The result of this is that a major chunk of the population is adapting to this global market.


There are undergoing technological developments as well. Also, there is a prediction that the countries belonging to the APAC region are undergoing developments related to the frontline adaption of the concept of the internet of things (IoT). Europe is another nation that is highly responsive towards this concept and is expected to rise by the end of the forecast period of 2022.


Internet of Things Market Competitive Analysis: The internet of things (IoT) share is dominated by many big players on the global level. These include Huawei Technologies (China), Oracle Corporation (US), AT&T Inc (US), Amazon Web Services (US), Cisco Systems (US), Hitachi Data Systems (US), and many more are in the line. These companies are increasing and widening their product line with the motive to sell products inclusive of the internet of things technology. This will result in both business and customer expansion.


Recent Developments: Microsoft has launched the Azure IoT Suite. This was for building connections resulting in preconfigured availability. This suite is like a 6-step system for a framework that is designed so that the businesses can function with their highest efficiency. The Azure services were also launched in the Indian subcontinent with a motive to increase flexibility, as well as scalability. Also, Oracle had announced a partnership with Huawei for the formation of a power IoT Ecosystem. The result of this was good market cooperation, as well as a boost in the operation of sales. This also had a positive role on the client base for both the partnering firms. Also, IBM underwent a partnership with an American multinational financial services cooperation. This was done so that all the commerce-related research was done on the behalf of the customers through a device.


Report Overview: There are many geographical locations all around the globe that are in look of opportunities to grasp a share in the market, as per the global internet of things (IoT) market report. People are gaining a lot of information and awareness related to these concepts. There are technological advancements on the way so that it is easier for people to make a switch to this technology. Also, the internet has already made an undying space in the lives of people.


In combination with the concept of the internet of things, lives are expected to change for the better. The Internet of things (IoT) market trends show that the various governments are also playing a major role by generating a demand for the same. For mass acceptance and overcoming the restraints attached to the growth, big economies of the world are already working to secure the data and protecting both individual and group interests and privacy.



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: Significant Value
  CAGR   19.75 (2022)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Software, By Services
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   AT & T Inc. (U.S), Cisco System Inc. (U.S), Amazon Web Services (U.S), Dell Inc. (U.S), Oracle Corporation (U.S), Hitachi Data Systems (U.S.), Google Inc. (U.S), Microsoft Corporation (U.S), International Business Machines Corporation (IBM) (U.S) and Huawei Technologies Co. Ltd. (China).
  Key Market Opportunities

  • Most of the industries, governments, associations, and individuals are opting for the internet of things market because of the amount of integration and productivity it has brought along. \r\n
  • There has been an enormous technological explosion and enterprises from different places are growing their share of investment in the internet of things industry.
  •   Key Market Drivers   The internet of things comes tagged along with a better chance of increased productivity and precision along with monetary assistance. Also, there is lesser human involvement, which is acting as a major driving force.


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    Frequently Asked Questions (FAQ) :


    Internet of things of things or IoT is the technology in which connected devices allows sharing of information. These devices have sensors, installed software, and network connectivity that enables storing and sharing of data.

    The global market of IoT is expected to strike about 19.7% CAGR in the forecast period (2016 to 2022). It is due to the potential of the technology to enhance productivity, it is being widely adopted across different verticals, likely to cause escalation of market valuation to nearly USD 2488 billion by 2022.

    MRFR listed AT & T Inc. (U.S), Amazon Web Services (U.S), Google Inc. (U.S), Cisco System Inc. (U.S), Oracle Corporation (U.S), Microsoft Corporation (U.S), and Dell Inc. (U.S) as some of the renowned IoT solution providers.

    IT and telecom, automobile, and healthcare are major end-users of IoT solutions. Advantages offered by IoT, such as automation, improved communication, and advanced monitoring, are likely to support its growing demand across cash-rich sectors.

    Data management, network management, remote monitoring, and security solutions are software-based segments of the IoT market. The growing need to manage voluminous data is causing the data management segment to generate substantial revenue for the market.

    Global Internet of Things (IoT) Market aims to increase technology productivity and is being widely accepted. Also, the market is expected to earn approximately USD a whopping 2488 billion by the end of the forecast year of 2022.

    The Devices Making use of IoT have sensors, as well as, installed software. They make use of the network connectivity to store, as well as share the required data.

    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 NETWORK SOLUTION

    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 GLOBAL IOT MARKET, BY SEGMENTS

    6.1 INTRODUCTION

    6.2 MARKET STATISTICS

    6.2.1 BY SOFTWARE

    6.2.1.1 DATA MANAGEMENT

    6.2.1.2 REMOTE MONITORING

    6.2.1.3 NETWORK MANAGEMENT

    6.2.1.4 SECURITY SOLUTION

    6.2.1.6 OTHERS

    6.2.2 BY HARDWARE

    6.2.2.1 SENSOR

    6.2.2.2 CAMERA

    6.2.2.3 NETWROK DEVICES

    6.2.2.4 OTHERS

    6.2.3 BY SERVICES

    6.2.3.1 MANAGED SERVICES

    6.2.3.2 PROFFESIONAL SERVIES

    6.2.3.3 OTHERS

    6.2.4 BY ORGANIZATION

    6.2.4.1 SMALL SCALE BUSNIESS

    6.2.4.2 LARGE SCALE BUSINESS

    6.2.4.3 OTHERS

    6.2.5 BY INDUSTRY

    6.2.5.1 IT & TELECOM

    6.2.5.2 RETAIL

    6.2.5.3 HEALTHCARE

    6.2.5.4 MANUFACTURING

    6.2.5.5 AUTOMOTIVE

    6.2.5.6 LOGISTICS

    6.2.6 BY GEOGRAPHY

    6.2.6.1 NORTH AMERICA

    6.2.6.2 EUROPE

    6.2.6.3 APAC

    6.2.6.4 REST OF THE WORLD

    7 COMPETITIVE ANALYSIS

    7.1 MARKET SHARE ANALYSIS

    7.2 COMPANY PROFILES

    7.2.1 AMAZON WEB SERVICES (U.S)

    7.2.2 AT & T INC. (U.S)

    7.2.3 CISCO SYSTEM INC. (U.S)

    7.2.4 GOOGLE INC. (U.S)

    7.2.5 ORACLE CORPORATION (U.S)

    7.2.6 DELL INC. (U.S)

    7.2.7 MICROSOFT CORPORATION (U.S)

    7.2.8 HITACHI DATA SYSTEMS (U.S.)

    7.2.9 HUAWEI TECHNOLOGIES CO. LTD.(CHINA)

    7.2.10 INTERNATIONAL BUSINESS MACHINES CORPORATION (IBM) (U.S)

    7.2.11 OTHERS
    LIST OF TABLES
    TABLE 1 GLOBAL IOT MARKET, BY SOFTWARE

    TABLE 2 GLOBAL IOT MARKET, BY HARDWARE

    TABLE 3 GLOBAL IOT MARKET, BY SERVICE

    TABLE 4 GLOBAL IOT MARKET, BY ORGANIZATION

    TABLE 5 GLOBAL IOT MARKET, BY INDUSTRY

    TABLE 6 GLOBAL IOT MARKET, BY GEOGRAPHY

    TABLE 7 NORTH AMERICA IOT MARKET, BY SOFTWARE

    TABLE 8 NORTH AMERICA IOT MARKET, BY HARDWARE

    TABLE 9 NORTH AMERICA IOT MARKET, BY SERVICE

    TABLE 10 NORTH AMERICA IOT MARKET, BY ORGANIZATION

    TABLE 11 NORTH AMERICA IOT MARKET, BY INDUSTRY

    TABLE 12 NORTH AMERICA IOT MARKET, BY GEOGRAPHY

    TABLE 13 U.S. IOT MARKET, BY SOFTWARE

    TABLE 14 U.S IOT MARKET, HARDWARE

    TABLE 15 U.S. IOT MARKET, BY SERVICE

    TABLE 16 U.S. IOT MARKET, BY ORGANIZATION

    TABLE 17 U.S. IOT MARKET, BY INDUSTRY

    TABLE 18 U.S. IOT MARKET, BY GEOGRAPHY

    TABLE 19 CANADA IOT MARKET, BY SOFTWARE

    TABLE 20 CANADA IOT MARKET, BY HARDWARE

    TABLE 21 CANADA IOT MARKET, BY SERVICE

    TABLE 22 CANADA IOT MARKET, BY ORGANIZATION

    TABLE 23 CANADA IOT MARKET, BY INDUSTRY

    TABLE 24 CANADA IOT MARKET, BY GEOGRAPHY

    TABLE 25 EUROPE IOT MARKET, BY SOFTWARE

    TABLE 26 EUROPE IOT MARKET, BY HARDWARE

    TABLE 27 EUROPE IOT MARKET, BY SERVICE

    TABLE 28 EUROPE IOT MARKET, BY ORGANIZATION

    TABLE 29 EUROPE IOT MARKET, BY INDUSTRY

    TABLE 30 EUROPE IOT MARKET, BY GEOGRAPHY

    TABLE 31 GERMANY IOT MARKET, BY SOFTWARE

    TABLE 32 GERMANY IOT MARKET, BY HARDWARE

    TABLE 33 GERMANY IOT MARKET, BY SERVICE

    TABLE 34 GERMANY IOT MARKET, BY ORGANIZATION

    TABLE 35 GERMANY IOT MARKET, BY INDUSTRY

    TABLE 36 GERMANY IOT MARKET, BY GEOGRAPHY

    TABLE 37 FRANCE IOT MARKET, BY SOFTWARE

    TABLE 38 FRANCE IOT MARKET, BY HARDWARE

    TABLE 39 FRANCE IOT MARKET, BY SERVICE

    TABLE 40 FRANCE IOT MARKET, BY ORGANIZATION

    TABLE 41 FRANCE IOT MARKET, BY INDUSTRY

    TABLE 42 FRANCE IOT MARKET, BY GEOGRAPHY

    TABLE 43 U.K. IOT MARKET, BY SOFTWARE

    TABLE 44 U.K. IOT MARKET, BY HARDWARE

    TABLE 45 U.K. IOT MARKET, BY SERVICE

    TABLE 46 U.K. IOT MARKET, BY ORGANIZATION

    TABLE 47 U.K. IOT MARKET, BY INDUSTRY

    TABLE 48 U.K. IOT MARKET, BY GEPGRAPHY

    TABLE 49 REST OF EUROPE IOT MARKET, BY SOFTWARE

    TABLE 50 REST OF EUROPE IOT MARKET, BY HARDWARE

    TABLE 51 REST OF EUROPE IOT MARKET, BY SERVICE

    TABLE 52 REST OF EUROPE IOT MARKET, BY ORGANIZATION

    TABLE 53 REST OF EUROPE IOT MARKET, BY INDUSTRY

    TABLE 54 REST OF EUROPE IOT MARKET, BY GEOGRAPHY

    TABLE 55 ASIA-PACIFIC IOT MARKET, BY SOFTWARE

    TABLE 56 ASIA-PACIFIC IOT MARKET, BY HARDWARE

    TABLE 57 ASIA-PACIFIC IOT MARKET, BY SERVICE

    TABLE 58 ASIA-PACIFIC IOT MARKET, BY ORGANIZATION

    TABLE 59 ASIA-PACIFIC IOT MARKET, BY INDUSTRY

    TABLE 60 ASIA-PACIFIC IOT MARKET, BY GEOGRAPHY

    TABLE 61 MIDDLE EAST & AFRICA IOT MARKET, BY SOFTWARE

    TABLE 62 MIDDLE EAST & AFRICA IOT MARKET, BY HARDWARE

    TABLE 63 MIDDLE EAST & AFRICA IOT MARKET, BY SERVICE

    TABLE 64 MIDDLE EAST & AFRICA IOT MARKET, BY ORGANIZATION

    TABLE 65 MIDDLE EAST & AFRICA IOT MARKET, BY INDUSTRY

    TABLE 66 MIDDLE EAST & AFRICA IOT MARKET, BY GEOGRAPHY
    LIST OF FIGURES
    FIGURE 1 RESEARCH NETWORK SOLUTION

    FIGURE 2 GLOBAL IOT MARKET: BY SOFTWARE (%)

    FIGURE 3 GLOBAL IOT MARKET: BY HARDWARE (%)

    FIGURE 4 GLOBAL IOT MARKET: BY SERVICE (%)

    FIGURE 5 GLOBAL IOT MARKET: BY ORGANIZATION (%)

    FIGURE 6 GLOBAL IOT MARKET: BY INDUSTRY (%)

    FIGURE 7 GLOBAL IOT MARKET: BY GEOGRAPHY (%)

    FIGURE 8 NORTH AMERICA IOT MARKET, BY SOFTWARE (%)

    FIGURE 9 NORTH AMERICA IOT MARKET, BY HARDWARE (%)

    FIGURE 10 NORTH AMERICA IOT MARKET, BY SERVICE (%)

    FIGURE 11 NORTH AMERICA IOT MARKET, BY ORGANIZATION (%)

    FIGURE12 NORTH AMERICA IOT MARKET, BY INDUSTRY (%)

    FIGURE 13 NORTH AMERICA IOT MARKET, BY GEOGRAPHY (%)

    FIGURE 14 EUROPE IOT MARKET, BY SOFTWARE (%)

    FIGURE 15 EUROPE IOT MARKET, BY HARDWARE (%)

    FIGURE 16 EUROPE IOT MARKET, BY SERVICE (%)

    FIGURE 17 EUROPE IOT MARKET, BY ORGANIZATION (%)

    FIGURE 18 EUROPE IOT MARKET, BY INDUSTRY (%)

    FIGURE 19 EUROPE IOT MARKET, BY GEOGRAPHY (%)

    FIGURE 20 ASIA-PACIFIC IOT MARKET, BY SOFTWARE (%)

    FIGURE 21 ASIA-PACIFIC IOT MARKET, BY HARDWARE (%)

    FIGURE 22 ASIA-PACIFIC IOT MARKET, BY SERVICE (%)

    FIGURE 23 ASIA-PACIFIC IOT MARKET, BY ORGANIZATION (%)

    FIGURE 24 ASIA-PACIFIC IOT MARKET, BY INDUSTRY (%)

    FIGURE 25 ASIA-PACIFIC IOT MARKET, BY GEOGRAPHY (%)

    FIGURE 26 ROW IOT MARKET, BY SOFTWARE (%)

    FIGURE 27 ROW IOT MARKET, BY HARDWARE (%)

    FIGURE 28 ROW IOT MARKET, BY SERVICE (%)

    FIGURE 29 ROW IOT MARKET, BY ORGANIZATION (%)

    FIGURE 30 ROW IOT MARKET, BY INDUSTRY (%)

    FIGURE 31 ROW IOT MARKET, BY GEOGRAPHY (%)