Global Internet Of Things (IoT) Market Opportunities And Strategies For Major Players In The IoT Market 2021-2030
5 Aug, 2021
The internet of things (IoT) market consists of sales of internet of things (IoT) systems and related services by entities that develop internet of things systems. IoT is a collection of interconnected smart devices, mechanical and digital machines, objects or people supplied with unique identifiers (UIDs) and the ability to transmit data across a network without needing human-to-human or human-to-computer interaction.
Global Internet Of Things (IoT) Market Size And Drivers:
The global internet of things market reached a value of nearly $244,473.44 million in 2020, having increased at a compound annual growth rate (CAGR) of 18.2% since 2015. The market is expected to grow from $244,473.44 million in 2020 to $767,297.51 million in 2025 at a rate of 25.7%. The IoT market is then expected to grow at a CAGR of 16.6% from 2025 and reach $ 1,655,568.32 million in 2030. The increasing adoption of 5G networks is expected to drive the IoT market in the forecast period. 5G networks would accelerate the uptake of IoT applications and services and enable new use cases in remote monitoring and visual inspection, autonomous operations in large-scale remote environments such as mines, connected vehicles and more.
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Trends In The Global Internet Of Things (IoT) Market
Use of the IoT in the healthcare industry is a key trend gaining popularity in the IoT market. Remote monitoring in the healthcare industry has become possible due to Internet of Things enabled devices, unleashing the ability to keep patients safe and secure while also motivating physicians to provide exceptional treatment. The IoT is significantly changing the healthcare sector by redefining the space of devices and human involvement in the delivery of healthcare solutions. For instance, according to a study by data driven investor, the healthcare sector accounted for 40% of all IoT devices in 2020, and revenues from healthcare-related IoT are expected to reach $135 billion by 2025.
Global Internet Of Things (IoT) Market Segments:
The global internet of things (IoT) market is further segmented based on platform, end use industry, application and geography.
By Platform: Device Management, Application Management, Network Management
By End Use Industry: BFSI, Retail, Government, Healthcare, Manufacturing, Transportation, IT & Telecom, Others
By Application: Building And Home Automation, Smart Energy And Utilities, Smart Manufacturing, Connected Logistics, Smart Retail, Smart Mobility And Transportation, Others
By Geography: The global IoT market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the internet of things market, accounting for 33.3% of the total in 2020.
Read More On The Report For The Global Internet Of Things (IoT) Market At:https://www.thebusinessresearchcompany.com/report/internet-of-things-global-market
Internet Of Things (IoT) Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides internet of things (IoT) market overviews, analyzes and forecasts market size and growth for the global internet of things (IoT) market, internet of things (IoT) market share, internet of things (IoT) market players, internet of things (IoT) market segments and geographies, internet of things (IoT) market’s leading competitors’ revenues, profiles and market shares. The internet of things (IoT) market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.