PUBLISHER: TechSci Research | PRODUCT CODE: 1348819
PUBLISHER: TechSci Research | PRODUCT CODE: 1348819
Internet of Things Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Platform, By Component (Hardware, Software and Services ) By Application, By Region, Competition
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Global Internet of Things (IoT) market is driven by increasing adoption of the Industrial Internet of Things (IIoT), edge computing, 5G infrastructure, use of real-time analytics enabled by Artificial Intelligence (AI) and Machine Learning (ML) across worldwide in the forecast years. Technology has become the key enabler of excellence and businesses are gradually becoming mobile as digitalization emerges, to boost the global Internet of Things (IoT) market in the forecast period.
The Internet of Things (IoT) is a concept that refers to the entire network of interconnected devices as well as the technology that enables communication between the devices individually and with the cloud. A system known as the Internet of Things (IoT) consists of a variety of web-connected smart devices, actuators, sensors, software, processors, and network connectivity tools that enable these things to share, gather, and process the data from their surroundings. These technologies are used across different applications such as manufacturing, media, healthcare, consumer applications, defences & aerospace, transportation, and others. Organizations across a wide range of businesses are gradually shifting to IoT technology to enhance organizational performance and better understand consumers to provide better customer services, enhanced decision-making, and commercial value. Platforms known as cloud computing, edge computing, machine learning, and IIoT platforms are used in the context of IoT and IoT-based solutions to connect the diverse devices, data sources, and users. Access to low-cost, low power sensor technology, high-connectivity with real-time data collection and better business opportunities are some of the prominent benefits enabling the growth of Global Internet of Things (IoT) Market.
Growing adoption of cloud-based deployment models and low operating costs
| Market Overview | |
|---|---|
| Forecast Period | 2024-2028 |
| Market Size 2022 | USD 344.98 Billion |
| Market Size 2028 | USD 999.59 Billion |
| CAGR (2023-2028) | 19.4% |
| Fastest Growing Segment | Consumer Electronics |
| Largest Market | North America |
One of the main drivers for small and medium-sized businesses is the demand for inexpensive data storage, backup, and data security(SMEs). The connected supply chain and smart manufacturing processes depend heavily on connected and smart items. The development of affordable connected devices has also made it possible for manufacturers to use IoT technology to reduce resource consumption and boost overall productivity. Additionally, as IoT applications have a low operational cost, many manufacturers seek to integrate them into their machinery in order to increase efficiency while lowering costs.
Increasing Demand of Digital Transformation
The biggest driver responsible for the growth of the Global Internet of Things Market is accelerating digital transformation of the worldwide. Moreover, Internet of Things applications are fundamentally designed to support this kind of transformation. For instance, The Government's National Digital Transformation Program to 2025, Direction Towards 2030 has clearly stated the prioritization of digital transformation to fundamentally renovate the management and administration activities of the government, production and business activities.
Rising smart cities initiatives to bloster growth
One of the key factors boosting the development of the internet of things (IoT) market is the smart cities programme. In the coming years, as population, industry, and urbanisation all rise, many cities may look to technology and cutting-edge networks for assistance in managing resource shortages. Numerous enterprises are utilising Internet of Things (IoT) solutions to create, implement, and promote sustainable development practises in order to meet the issues brought on by the expanding urbanisation of society. Utilizing digital technology to construct human-centered smart cities has altered infrastructure economies and opened up opportunities for collaboration and private-sector involvement. For instance, according to world economic forum's G20 reports, Global Smart Cities Alliances is one of the largest global initiatives to advancing support for global smart city collaboration. The alliance is supporting more than 70 cities to adopt smart cities governance.
Moreover, smart cities solution, such as smart grids, smart air quality controllers, smart utility meters, smart transportation, and smart waste management are being increasingly adopted by consumers for better efficiency and sustainability, thereby increasing the market potential of Internet of Things worldwide.
Market Segmentation
The internet of things market is segmented based on platform, component, application, and region. By platform, it is categorized into Network Management, Application Management and Device Management. The component market is bifurcated into hardware, software, and services. In terms of hardware, the market is further segmented into gateways and devices while in terms of software the market is segmented into real time streaming analytics, security, data management, remote monitoring, and network bandwidth management while services of the market is segemented into professional & managed services. The application segment is further divided into consumer electronics, smart mobility & transportation, building & home automation, connected logistics, smart retail, and others.
Market Player
Major market players in the Global Internet of Things Market are International Business Machines Corporation, Cisco Systems, Inc., Microsoft Corporation, Amazon Web Services, Intel Corporation, Huawei Technologies Co., Ltd., SAP SE, Alphabet Inc., Oracle Corporation, Hewlett Packard Enterprise Development LP.
Report Scope:
In this report, the global internet of things market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Internet of Things Market, By Platform:
- Network Management
- Application Management
- Device Management
Internet of Things Market, By Component:
- Hardware (Device & Gateways)
- Software (Real Time Streaming Analysis, Security, Data Management, Remote Monitoring, and Network Bandwidth Management)
- Services (Professional Services & Managed Service)
Internet of Things Market, By Application:
- Consumer Electronics
- Smart Mobility & Transportation
- Building & Home Automation
- Connected Logistics
- Smart Retail
- Others
Internet of Things Market, By Region:
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
- South America
- Brazil
- Argentina
- Colombia
- Middle East
- South Africa
- Soudi Arabia
- UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the global internet of things market.
Available Customizations
Global internet of things market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
Table of Contents
1. Service Overview
2. Research Methodology
3. Impact of COVID-19 on Global Internet of Things Market
4. Executive Summary
5. Voice of Customers
6. Global Internet of Things Market Outlook
- 6.1. Market Size & Forecast
- 6.1.1. By Value & Volume
- 6.2. Market Share & Forecast
- 6.2.1. By Platform (Network Management, Application Management and Device Management)
- 6.2.2. By Component (Hardware, Software and Services)
- 6.2.2.1. By Hardware (Device,Gateways)
- 6.2.2.2. By Software (Real Time Streaming Analytics, Security, Data Management, Remote Monitoring, and Network Bandwidth Management)
- 6.2.2.3. By Services (Professional Services & Managed Services )
- 6.2.3. By Application (Consumer Electronics, Smart Mobility & Transportation, Building & Home Automation, Connected Logistics, Smart Retail, and Others)
- 6.2.4. By Region (North America, Europe, Asia-Pacific, South America, Middle East & Africa)
- 6.3. By Company (2022)
- 6.4. Market Map
7. North America Internet of Things Market Outlook
- 7.1. Market Size & Forecast
- 7.1.1. By Value & Volume
- 7.2. Market Share & Forecast
- 7.2.1. By Platform
- 7.2.2. By Component
- 7.2.3. By Application
- 7.2.4. By Country
- 7.3. North America: Country Analysis
- 7.3.1. United States Internet of Things Market Outlook
- 7.3.1.1. Market Size & Forecast
- 7.3.1.1.1. By Value & Volume
- 7.3.1.2. Market Share & Forecast
- 7.3.1.2.1. By Platform
- 7.3.1.2.2. By Component
- 7.3.1.2.3. By Application
- 7.3.1.1. Market Size & Forecast
- 7.3.2. Canada Internet of Things Market Outlook
- 7.3.2.1. Market Size & Forecast
- 7.3.2.1.1. By Value
- 7.3.2.2. Market Share & Forecast
- 7.3.2.2.1. By Platform
- 7.3.2.2.2. By Component
- 7.3.2.2.3. By Application
- 7.3.2.1. Market Size & Forecast
- 7.3.3. Mexico Internet of Things Market Outlook
- 7.3.3.1. Market Size & Forecast
- 7.3.3.1.1. By Value
- 7.3.3.2. Market Share & Forecast
- 7.3.3.2.1. By Platform
- 7.3.3.2.2. By Component
- 7.3.3.2.3. By Application
- 7.3.3.1. Market Size & Forecast
- 7.3.1. United States Internet of Things Market Outlook
8. Asia-Pacific Internet of Things Market Outlook
- 8.1. Market Size & Forecast
- 8.1.1. By Value
- 8.2. Market Share & Forecast
- 8.2.1. By Platform
- 8.2.2. By Component
- 8.2.3. By Application
- 8.2.4. By Country
- 8.3. Asia-Pacific: Country Analysis
- 8.3.1. China Internet of Things Market Outlook
- 8.3.1.1. Market Size & Forecast
- 8.3.1.1.1. By Value & Volume
- 8.3.1.2. Market Share & Forecast
- 8.3.1.2.1. By Platform
- 8.3.1.2.2. By Component
- 8.3.1.2.3. By Application
- 8.3.1.1. Market Size & Forecast
- 8.3.2. India Internet of Things Market Outlook
- 8.3.2.1. Market Size & Forecast
- 8.3.2.1.1. By Value & Volume
- 8.3.2.2. Market Share & Forecast
- 8.3.2.2.1. By Platform
- 8.3.2.2.2. By Component
- 8.3.2.2.3. By Application
- 8.3.2.1. Market Size & Forecast
- 8.3.3. Japan Internet of Things Market Outlook
- 8.3.3.1. Market Size & Forecast
- 8.3.3.1.1. By Value & Volume
- 8.3.3.2. Market Share & Forecast
- 8.3.3.2.1. By Platform
- 8.3.3.2.2. By Component
- 8.3.3.2.3. By Application
- 8.3.3.1. Market Size & Forecast
- 8.3.4. South Korea Intenet of Things Market Outlook
- 8.3.4.1. Market Size & Forecast
- 8.3.4.1.1. By Value & Volume
- 8.3.4.2. Market Share & Forecast
- 8.3.4.2.1. By Platform
- 8.3.4.2.2. By Component
- 8.3.4.2.3. By Application
- 8.3.4.1. Market Size & Forecast
- 8.3.5. Australia Internet of Things Market Outlook
- 8.3.5.1. Market Size & Forecast
- 8.3.5.1.1. By Value & Volume
- 8.3.5.2. Market Share & Forecast
- 8.3.5.2.1. By Platform
- 8.3.5.2.2. By Component
- 8.3.5.2.3. By Application
- 8.3.5.1. Market Size & Forecast
- 8.3.1. China Internet of Things Market Outlook
9. Europe Internet of Things Market Outlook
- 9.1. Market Size & Forecast
- 9.1.1. By Value
- 9.2. Market Share & Forecast
- 9.2.1. By Platform
- 9.2.2. By Component
- 9.2.3. By Application
- 9.2.4. By Country
- 9.3. Europe: Country Analysis
- 9.3.1. Germany Internet of Things Market Outlook
- 9.3.1.1. Market Size & Forecast
- 9.3.1.1.1. By Value & Volume
- 9.3.1.2. Market Share & Forecast
- 9.3.1.2.1. By Platform
- 9.3.1.2.2. By Component
- 9.3.1.2.3. By Application
- 9.3.1.1. Market Size & Forecast
- 9.3.2. United Kingdom Internet of Things Market Outlook
- 9.3.2.1. Market Size & Forecast
- 9.3.2.1.1. By Value & Volume
- 9.3.2.2. Market Share & Forecast
- 9.3.2.2.1. By Platform
- 9.3.2.2.2. By Component
- 9.3.2.2.3. By Application
- 9.3.2.1. Market Size & Forecast
- 9.3.3. France Internet of Things Market Outlook
- 9.3.3.1. Market Size & Forecast
- 9.3.3.1.1. By Value & Volume
- 9.3.3.2. Market Share & Forecast
- 9.3.3.2.1. By Platform
- 9.3.3.2.2. By Component
- 9.3.3.2.3. By Application
- 9.3.3.1. Market Size & Forecast
- 9.3.4. Italy Internet of Things Market Outlook
- 9.3.4.1. Market Size & Forecast
- 9.3.4.1.1. By Value & Volume
- 9.3.4.2. Market Share & Forecast
- 9.3.4.2.1. By Platform
- 9.3.4.2.2. By Component
- 9.3.4.2.3. By Application
- 9.3.4.1. Market Size & Forecast
- 9.3.5. Spain Internet of Things Market Outlook
- 9.3.5.1. Market Size & Forecast
- 9.3.5.1.1. By Value & Volume
- 9.3.5.2. Market Share & Forecast
- 9.3.5.2.1. By Platform
- 9.3.5.2.2. By Component
- 9.3.5.2.3. By Application
- 9.3.5.1. Market Size & Forecast
- 9.3.1. Germany Internet of Things Market Outlook
10. South America Internet of Things Market Outlook
- 10.1. Market Size & Forecast
- 10.1.1. By Value & Volume
- 10.2. Market Share & Forecast
- 10.2.1. By Platform
- 10.2.2. By Component
- 10.2.3. By Application
- 10.2.4. By Country
- 10.3. South America: Country Analysis
- 10.3.1. Brazil Internet of Things Market Outlook
- 10.3.1.1. Market Size & Forecast
- 10.3.1.1.1. By Value & Volume
- 10.3.1.2. Market Share & Forecast
- 10.3.1.2.1. By Platform
- 10.3.1.2.2. By Component
- 10.3.1.2.3. By Application
- 10.3.1.1. Market Size & Forecast
- 10.3.2. Argentina Internet of Things Market Outlook
- 10.3.2.1. Market Size & Forecast
- 10.3.2.1.1. By Value & Volume
- 10.3.2.2. Market Share & Forecast
- 10.3.2.2.1. By Platform
- 10.3.2.2.2. By Component
- 10.3.2.2.3. By Application
- 10.3.2.1. Market Size & Forecast
- 10.3.3. Colombia Internet of Things Market Outlook
- 10.3.3.1. Market Size & Forecast
- 10.3.3.1.1. By Value & Volume
- 10.3.3.2. Market Share & Forecast
- 10.3.3.2.1. By Platform
- 10.3.3.2.2. By Component
- 10.3.3.2.3. By Application
- 10.3.3.1. Market Size & Forecast
- 10.3.1. Brazil Internet of Things Market Outlook
11. Middle East & Africa Internet of Things Market Outlook
- 11.1. Market Size & Forecast
- 11.1.1. By Value & Volume
- 11.2. Market Share & Forecast
- 11.2.1. By Platform
- 11.2.2. By Component
- 11.2.3. By Application
- 11.2.4. By Country
- 11.3. Middle East & Africa: Country Analysis
- 11.3.1. South Africa Internet of Things Market Outlook
- 11.3.1.1. Market Size & Forecast
- 11.3.1.1.1. By Value
- 11.3.1.2. Market Share & Forecast
- 11.3.1.2.1. By Platform Type
- 11.3.1.2.2. By Application Area
- 11.3.1.2.3. By End User Vertical
- 11.3.1.1. Market Size & Forecast
- 11.3.2. Saudi Arabia Internet of Things Market Outlook
- 11.3.2.1. Market Size & Forecast
- 11.3.2.1.1. By Value & Volume
- 11.3.2.2. Market Share & Forecast
- 11.3.2.2.1. By Platform
- 11.3.2.2.2. By Component
- 11.3.2.2.3. By Application
- 11.3.2.1. Market Size & Forecast
- 11.3.3. UAE Internet of Things Market Outlook
- 11.3.3.1. Market Size & Forecast
- 11.3.3.1.1. By Value & Volume
- 11.3.3.2. Market Share & Forecast
- 11.3.3.2.1. By Platform
- 11.3.3.2.2. By Component
- 11.3.3.2.3. By Application
- 11.3.3.1. Market Size & Forecast
- 11.3.1. South Africa Internet of Things Market Outlook
12. Market Dynamics
- 12.1. Drivers
- 12.1.1. Growing Adoption of Cloud-Based Deployment Models and Low Operational Cost
- 12.1.2. Increasing Demand of Digital Transformation
- 12.1.3. Rising Smart Cities initiatives to Bloster Growth
- 12.2. Challenges
- 12.2.1. Lack of Knowledge Regarding IoT and Smart Cities among the People
- 12.2.2. Limitations Associated with Security, Integrity and Data Privacy in Connected Devices
13. Market Trends & Developments
- 13.1. Increase in Tech-savvy Workforce
- 13.2. Rise In Technological Development
- 13.3. Rising Government Initiatives
- 13.4. Increase in Connected Devices
- 13.5. Adoption of 5G Across Industries
14. Company Profiles
- 14.1. International Business Machines Corporation
- 14.1.1. Business Overview
- 14.1.2. Key Revenue and Financials
- 14.1.3. Recent Developments
- 14.1.4. Key Personnel
- 14.1.5. Key Product/Services
- 14.2. Cisco Systems, Inc.
- 14.2.1. Business Overview
- 14.2.2. Key Revenue and Financials
- 14.2.3. Recent Developments
- 14.2.4. Key Personnel
- 14.2.5. Key Product/Services
- 14.3. Microsoft Corporation
- 14.3.1. Business Overview
- 14.3.2. Key Revenue and Financials
- 14.3.3. Recent Developments
- 14.3.4. Key Personnel
- 14.3.5. Key Product/Services
- 14.4. Amazon Web Services
- 14.4.1. Business Overview
- 14.4.2. Key Revenue and Financials
- 14.4.3. Recent Developments
- 14.4.4. Key Personnel
- 14.4.5. Key Product/Services
- 14.5. Intel Corporation
- 14.5.1. Business Overview
- 14.5.2. Key Revenue and Financials
- 14.5.3. Recent Developments
- 14.5.4. Key Personnel
- 14.5.5. Key Product/Services
- 14.6. Huawei Technologies Co. Ltd.
- 14.6.1. Business Overview
- 14.6.2. Key Revenue and Financials
- 14.6.3. Recent Developments
- 14.6.4. Key Personnel
- 14.6.5. Key Product/Services
- 14.7. SAP SE
- 14.7.1. Business Overview
- 14.7.2. Key Revenue and Financials
- 14.7.3. Recent Developments
- 14.7.4. Key Personnel
- 14.7.5. Key Product/Services
- 14.8. Alphabet Inc.
- 14.8.1. Business Overview
- 14.8.2. Key Revenue and Financials
- 14.8.3. Recent Developments
- 14.8.4. Key Personnel
- 14.8.5. Key Product/Services
- 14.8.6. SWOT Analysis
- 14.9. Oracle Corporation
- 14.9.1. Business Overview
- 14.9.2. Key Revenue and Financials
- 14.9.3. Recent Developments
- 14.9.4. Key Personnel
- 14.9.5. Key Product/Services
- 14.10. Hewlett Packard Enterprise Development LP
- 14.10.1. Business Overview
- 14.10.2. Key Revenue and Financials
- 14.10.3. Recent Developments
- 14.10.4. Key Personnel
- 14.10.5. Key Product/Services
15. Strategic Recommendations
16. About Us & Disclaimer
(Note: The companies list can be customized based on the client requirements)
