The Internet of Things, or IoT, describes the use of connected sensors and actuators to control and monitor the environment, the things that move within it, and the people that act within it. Use cases include the automated home, the connected car, wearable technology, the automated home, smart cities, and predictive maintenance for industrial machinery.
- For IoT technology to become truly pervasive, two things need to happen: latency levels need to drop to allow real-time decision making, and IoT deployments need to operate more autonomously.
- Advances in data center technology are already pushing more intelligence to the edge of data networks, reducing latency, while Artificial Intelligence of Things (AIoT) technology is gradually reducing the role of human decision-making in many IoT ecosystems.
- Pervasive IoT will become closer to reality as AIoT and edge computing - both nascent technologies - mature, perhaps in a decade or so for markets such as autonomous trucks.
- This report provides an overview of the Internet of Things (IoT) theme.
- It identifies the key trends impacting growth of the theme over the next 12 to 24 months, split into three categories: technology trends, macroeconomic trends, and regulatory trends.
- It contains a comprehensive industry analysis, including market size and growth forecasts for both enterprise and consumer IoT, details of M&A deals driven by the IoT theme, and analysis of patent trends.
- The detailed value chain shows comprises five layers: devices, connectivity, data, apps, and services. Leading and challenging vendors are identified across each of the five layers.
Reasons to Buy
- We forecast the global IoT market to reach $1.1 trillion in revenue by 2024.
- Enterprise IoT will account for 73% of market revenue by 2024, down from 76% in 2020, while the consumer segment will make up 27% in 2024, up from 24% in 2020, with significant growth coming from wearables.
- In a post-COVID-19 world, we expect a new wave of digital transformation to fuel higher growth across all IoT markets.