Market Research Report
Internet of Things (IoT) Analytics
|Internet of Things (IoT) Analytics|
Published: May 1, 2021
Global Industry Analysts, Inc.
Content info: 484 Pages
Delivery time: 1-2 business days
Global Internet of Things (IoT) Analytics Market to Reach US$81.8 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Internet of Things (IoT) Analytics estimated at US$15.6 Billion in the year 2020, is projected to reach a revised size of US$81.8 Billion by 2027, growing at a CAGR of 26.7% over the period 2020-2027.Solutions, one of the segments analyzed in the report, is projected to grow at a 24.4% CAGR to reach US$41.2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 29.4% CAGR for the next 7-year period. This segment currently accounts for a 42.9% share of the global Internet of Things (IoT) Analytics market.
The U.S. Accounts for Over 29.9% of Global Market Size in 2020, While China is Forecast to Grow at a 26.3% CAGR for the Period of 2020-2027
The Internet of Things (IoT) Analytics market in the U.S. is estimated at US$4.7 Billion in the year 2020. The country currently accounts for a 29.94% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$14.2 Billion in the year 2027 trailing a CAGR of 26.1% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 23.9% and 23.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 18.9% CAGR while Rest of European market (as defined in the study) will reach US$14.2 Billion by the year 2027.
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