The Global IoT market would be dominated by three regions - North America, Western Europe and Asia Pacific. The Asia Pacific market is expected to account to more than 30% of the total market. The Global IoT Market is expected to grow at a CAGR of around 10.2% during the forecast period, the market is expected to grow from USD 916.9 Billion in 2020 to USD 1994.3 Billion in 2028. The cumulative market is expected to reach USD 13100 Billion.
The cost of implementation and legacy devices is expected to act as restraints to the growth of IoT market during the forecast period. The current IoT market is fragmented and one of the key challenges is lack of standardization. Bottleneck issues are expected to arise as the IoT market grows which would result in the shift from cloud computing to edge computing and then to a mesh topology. IPV4 standard is expected to be replaced by the IPV6 standard to accommodate the large number of connected devices which would be present in the IoT market in the future.
It is expected that there would be a transformation in the way data is being processed. Data processing would shift from centralized and cloud to edge technology where analysis of data and development of solutions would take place at the site where the data is generated. Edge computing is expected to have vast applications in time critical processes like time-critical like driverless transport applications. The diminishing size of sensors is primarily driven by the MEMS technology.
The study period of the report titled “Global IoT Market - Market and Technology Forecast to 2028” is from 2018-2028, and the forecast period of the report is from 2020-2028.
The report is aimed at:
- Helping the reader understand the key market dynamics, which are the key drivers, restraints and challenges in the Global IoT Market.
- The key IoT technologies which are expected to evolve during the forecast period have been covered in depth.
- The country analysis covers a detailed IoT support infra structure of each country and the key IoT projects in those specific countries and the startups based in these countries.
- The Political, Economic, Social and Technology trends in the Global IoT market have been covered in a separate section, similarly the Porter's Five Forces have also been covered in detailed.
- The Opportunity Analysis Chapter identifies the high growth market across segments
- The Scenario Analysis Chapter is aimed at analyzing the dynamic impacts of the key factors that is expected to affect the IoT market
Segmentation covered in this report
The market is segmented based on Region, Industry, Technology, Deployment and Platform:
Region Wise Segmentation:
- North America
- Middle East
- Latin America
- Transport and Logistics
- Others(Agriculture, Retail etc.)
By Product Type
- South Korea
Reasons to buy
- The report will help investment bankers and the financial institutions to understand the overall market trend and the key dynamics that govern this market.
- The report will help manufacturers to understand the key opportunity market and focus their efforts in those specific regions.
- The report will help the top management team to take strategic decisions on opportunity analysis or market entry strategies.
- The infrastructure and component suppliers in the IoT market are expected to benefit from this report, the market forecast section would help them understand the market potential at the component level.
- The key startups from the top ten countries have been discussed in detail in the Country Analysis section.
- The key IoT Technologies have been discussed in detail, this is one of the most comprehensive reports which discusses this section.
- The company profiles include financials, latest news, contracts and SWOT for around 10 companies.
Who is this report for?
- Sensor Manufacturers: The report would be of help to the sensor manufacturers to understand the upcoming trends in this market.
- IoT Service Providers: The report would help the IoT service providers to understand the most potential market and direct their efforts towards maximizing revenues from these markets.
- Financial Institutions: The financial institutions like the financial brokers and the banking institutes can use this report to evaluate their funding or investment strategies.
- Internet Providers: The Internet Service Providers can use this report to understand the market trends in the Global IoT market.
- End Users: The various End Users could use this report to understand the IoT Market and the various technologies associated with this market before an implementation in their organization.
- Decision Makers: The decision makers in this market could use this report to formulate business decision.
- Other Organizations: The associations and other bodies working for the IoT Market could use this report to understand the future market outlook in the Global IoT Market.