Internet of Things Market Comprehensive Insight by Growth Rate, Trends, Industry Status, Key Players Forecast till 2026

The MarketWatch News Department was not involved in the creation of this content. Jan 22,

The MarketWatch News Department was not involved in the creation of this content.

Jan 22, 2021 (The Expresswire) —
The overall internet of things market is expected to grow from USD 190.0 Billion in 2018 to USD 1,102.6 Billion by 2026 at a CAGR of 24.7% during the forecast period. Organizations around the world are increasingly adopting advanced technologies, which is driving the global internet of things market. Fortune Business Insights in a report, titled “GLOBAL INTERNET OF THINGS (IOT) MARKET: GLOBAL MARKET ANALYSIS, INSIGHTS AND FORECAST, 2019-2026” states that IoT technology holds significant potential in the ICT sector.

The global Internet of Things (IoT) market size stood at USD 250.72 billion in 2019 and is projected to reach USD 1,463.19 billion by 2027, exhibiting a CAGR of 24.9% during the forecast period

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An Overview of the Impact of COVID-19 on this Market:

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The report on the internet of things market contains:

  • Future insights into the market

  • In-depth study of the regions

  • Product and brand strategies

  • Factors enabling market growth

  • Competitive landscape

  • COVID-19 impact

List of Top Key Players Mentioned:

  • Google

  • Intel Corporation

  • Microsoft

  • Cisco

  • Apple

  • Oracle

  • Hewlett Packard Enterprise

  • Facebook

  • Dell Technologies

“Microsoft Corporation, Cisco Systems, Inc., and Oracle Corporation are Among the Leading Players in the Market”

Key players in the global IoT market are Using IoT platforms such as application management, device management, and network management to sustain the market. Microsoft Corporation, Cisco Systems, Inc., IBM Corporation, Bosch Software Innovations GmbH, SAP SE, and Oracle Corporation are some of the leading companies in the global market. These companies are increasingly using cloud-computing networks across several platforms. Some companies are likely to invest in research and development (RandD) activities in order to develop innovative IoT solutions. Such activities are expected to help companies gain an edge over the competition.

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The report answers the following questions:

  • What are the recent internet of things market trends and developments?

  • How will the market be affected by changing consumer behavior?

  • Which strategies are being adopted by key players to enhance their market footprint?

  • Which region will remain in the dominant position in terms of revenue?

  • How many niche segments are present in the market?

“Healthcare among the Second Leading End Use Industry Segment by Covering 16.2% Share”

Manufacturing and healthcare accounts for the majority of share in the global IoT market. According to the report, in 2018, the healthcare segment holds a share of 16.2% in the global market. BFSI segment offers ample growth opportunities as the demand for IoT solutions in the banking sector is increasing rapidly. Customer relationship with banks has transformed over the years with this new ear of connectivity. Adoption of IoT in banking helps to make faster payments and enhances operational efficiency. Not only this, IoT technology allows credit and debit cardholders to easily access banking services. Moreover, several banking firms are planning to use this technology in order to improve the banking experience of their customers by making it more personal. With the increasing adoption of cloud computing solutions, the BFSI sector is expected to rise at a substantial share during the forecast period.

Analysis by Market Segmentation:

  1. By Platform: Device Management, Application Management, Network Management

  2. By Software and Services: Software Solution, Services

  3. By End-Use Industry: BFSI, Retail, Governments, Healthcare, Manufacturing, Transportation, IT and Telecom, Others

  4. By Geography: North America, Europe, Asia Pacific, Latin America, Middle East and Africa

“Growing Demand for Smart Devices Drives the Market in Europe and Asia Pacific”

In 2018, the market in Asia Pacific generated a revenue of USD 74.5 Bn in 2018. The region is anticipated to lead the global IoT market through the forecast period. Large-scale adoption of technologies such as Cloud computing and Artificial Intelligence (AI) in this region contributes to the growth of the market. Several mergers and acquisitions (MandA) between leading players and rising focus on implementing connected devices is a significant factor driving the market in APAC and Europe. Other regions such as North America and Latin America are expected to grow considerably in the forecast years.

“Mounting Demand for Real-time Data Offers Fillip to the Market”

“IoT technology offers digital transformation to organizations by either upgrading their existing processes or creating a new one,” states a lead analyst at Fortune Business Insights. “Small-scale enterprises are also adopting IoT solutions with an aim to enhance their productivity and cost-efficiency,” he added. IT industry is aggressively adopting cloud-based solutions to gain easy access to enormous amounts of data. This will further provide significant impetus to the market. The demand for real-time data among businesses is increasing at an exponential rate. This, coupled with increasing penetration of automation, is expected to create growth opportunities for the market by 2026. By adopting the internet of things (IoT) solutions, enterprises can gain real-time insights into their business, which can eventually enhance their decision-making processes. IoT offers several software solutions which include security, remote monitoring, network band management, and real-time streaming analytics. Against this backdrop, the demand for IoT applications is likely to increase over the next few years.

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Major Table of Contents:

  1. Introduction

    • Definition, By Segment

    • Research Approach

    • Sources

  2. Executive Summary

  3. Market Dynamics

    • Drivers, Restraints and Opportunities

    • Emerging Trends

  4. Key Insights

    • Macro and Micro Economic Indicators

    • Industry SWOT Analysis

    • Porter’s Five Forces Analysis

  5. Global Internet of Things (IoT) Market Analysis, Insights and Forecast, 2015-2026

    • Key Findings / Summary

    • Market Size Estimates and Forecasts By Platform (USD Bn)

      • Device Management

      • Application Management

      • Network Management

    • Market Size Estimates and Forecasts By Software and Services (USD Bn)

      • Software Solution

        • Real-Time Streaming Analytics

        • Security

        • Data Management

        • Remote Monitoring

        • Network Band Management

      • Services

    • Market Size Estimates and Forecasts By End Use Industry (USD Bn)

      • BFSI

      • Retail

      • Government

      • Healthcare

      • Manufacturing

      • Transportation

      • IT and Telecom

      • Others

    • Market Size Estimates and Forecasts By Geography

      • North America

      • Europe

      • Asia Pacific

      • Middle East and Africa

      • Latin America

  1. North America Internet of Things (IoT) Market Analysis, Insights and Forecast, 2015-2026

    • Key Findings / Summary

    • Market Size Estimates and Forecasts By Platform (USD Bn)

TOC Continued…!

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About Us:

Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact:

Name: Ashwin Arora
Email:[email protected]
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Press Release Distributed by The Express Wire

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