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Global IoT Market: By Component: Devices, Connectivity, IT Services, Platforms; By Application: Consumer Electronics, Retail, Manufacturing, Healthcare, Transportation, Others; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Value Chain Analysis; Competitive Landscape; Industry Events and Developments

Global IoT Market Outlook

The global IoT market attained a value of about USD 1.4 trillion in 2020. The market is further expected to grow in the forecast period of 2021-2026 at a CAGR of 15.8% to reach nearly USD 3.4 trillion by 2026.

 

Rise in Future Friendly Smart Cities to Accelerate the Market Growth of IoT

The ability of IoT devices to communicate with each other independently without human intervention is anticipated to supplement a number of healthcare, transportation, manufacturing, and construction projects in the coming years, which is projected to support the market growth for IoT. The market for IoT is further expected to be driven by benefits like flexibility and compliance of IoT. The adoption of cloud data management in large-scale IoT applications is projected to be a significant growth driver for IoT as it diminishes the need for extensive and organised hardware and constructed management networks.

 

Global IoT Market

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The possibility of a smart future can be attributed to the growing adoption of IoT technology integrated with artificial intelligence. Rapid urbanisation and growing government investments in the digital ecosystems are facilitating the growth of smart cities worldwide, which is further expected to catalyse the growth of IoT industry. IoT technology provides the ability to remotely monitor air and water quality, manage and control devices, and to construct actionable ideas relating to real-time data, thereby improving infrastructure, public services, and utilities. Residents will be able to engage with smart city innovations through smartphones and artificial intelligent devices connected to homes and cars with the help of IoT technology. Further, in the wake of environmental, social, and economic stability, the IoT technology in smart cities is projected to reduce traffic congestions, improve air quality, and manage trash disposal. Thus, as a future-ready technology, IoT is attracting investments from various sectors, thereby bolstering the market growth.

 

IoT: Industry Definition and Segmentation

IoT or the internet of things technology is the extension of internet connectivity to physical objects for everyday use. It is a software that will enable one to connect and deliver data across different devices via wireless network technologies like Wi-Fi and Bluetooth.

On the basis of component, the market is segmented into

  • Devices
  • Connectivity
  • IT Services
  • Platforms

Based on application, the market is categorised into

  • Consumer Electronics
  • Retail
  • Manufacturing
  • Healthcare
  • Transportation
  • Others

The EMR report looks into the regional markets of IoT like North America, Europe, Latin America, the Asia Pacific, and the Middle East and Africa.

 

Adoption of IoT in Retail Management to Spur the Market Growth

The retail sector across the globe is undergoing rapid advancements and is witnessing a growing adoption of IoT. IoT technology is increasingly being employed in retail management to provide enhanced customer experience, boost sales, and manage retail stores, thus, bolstering the market growth of IoT. With the help of IoT, retailers are able to provide improved communication between customers and brands, based on personalised preferences, and helping the buyer find the products they are looking for, thereby improving sales and customer satisfaction. This is further propelling the adoption of the technology, which, in turn, is boosting the IoT industry growth.

The market has been witnessing further growth amidst the COVID-19 pandemic as retailers were able to manage in-store wait time and avoid overcrowding, thus, reducing the risk of infection with the help of IoT. The demand for online methods of shopping has surged during the pandemic, leading to a further inclusion of IoT in managing orders and deliveries, which has catalysed the market growth. Retailers are making use of IoT to clear customer expectations and provide real-time delivery status, hence, building strong customer relations, and augmenting the market growth.

The increased implementation of Internet of Things technology in-store management is anticipated to boost the market growth in the coming years. IoT allows store operators in inventory management. Smart shelves can monitor inventory and notify the manager when a certain product is low in stock or near its expiration date. As a result of the efficiency of real-time inventory updates, brands are now increasingly investing in IoT technology, which is projected to propel the market growth in the coming years. The rising demand for systems to avoid oversupply or shortage of goods and minimise the risk of theft and fraud are anticipated to provide further impetus for the market growth. Further, the rising demand for cost reduction and eliminating human error in retail processes to increase productivity is projected to propel the adoption of IoT, further driving the market growth in the coming years.

 

Key Industry Players in the Global IoT Market

The report presents a detailed analysis of the following key players in the global IoT market, looking into their capacity, market share, and latest developments like capacity expansions, plant turnabouts and mergers and acquisitions.

  • Accenture
  • Amazon Web Services, Inc
  • Cisco Systems, Inc
  • Huawei Technologies Co., Ltd
  • Alphabet Inc
  • IBM Corporation
  • Hewlett Packard Enterprise Development LP
  • Others

The comprehensive report looks at the micro and macro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of the Porter’s Five Forces Model.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2016-2020
Forecast Period 2021-2026
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Component, Application, Region
Breakup by Component  Devices, Connectivity, IT Services, Platforms
Breakup by Application Consumer Electronics, Retail, Manufacturing, Healthcare, Transportation, Others
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Accenture, Amazon Web Services Inc, Cisco Systems Inc., Huawei technologies Co., Ltd, Alphabet Inc, IBM corporation, Hewlett Packard Enterprise Development LP, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global IoT Market Analysis

    8.1    Key Industry Highlights
    8.2    Global IoT Historical Market (2016-2020) 
    8.3    Global IoT Market Forecast (2021-2026)
    8.4    Global IoT Market by Component 
        8.4.1    Devices
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Connectivity
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
        8.4.3    IT Services
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2016-2020)
            8.4.3.3    Forecast Trend (2021-2026)
        8.4.4    Platforms
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2016-2020)
            8.4.4.3    Forecast Trend (2021-2026)
    8.5    Global IoT Market by Application
        8.5.1    Consumer Electronics 
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Retail  
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
        8.5.3    Manufacturing
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2016-2020)
            8.5.3.3    Forecast Trend (2021-2026)
        8.5.4    Healthcare 
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2016-2020)
            8.5.4.3    Forecast Trend (2021-2026)
        8.5.5    Transportation
            8.5.5.1    Market Share
            8.5.5.2    Historical Trend (2016-2020)
            8.5.5.3    Forecast Trend (2021-2026)
        8.5.6    Others
    8.6    Global IoT Market by Region
        8.6.1    Market Share
            8.6.1.1    North America
            8.6.1.2    Europe
            8.6.1.3    Asia Pacific
            8.6.1.4    Latin America
            8.6.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    Accenture
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Amazon Web Services, Inc.
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    Cisco Systems, Inc.
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Huawei Technologies Co., Ltd.
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Alphabet Inc. 
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    IBM Corporation 
            12.2.6.1    Company Overview
            12.2.6.2    Product Portfolio
            12.2.6.3    Demographic Reach and Achievements
            12.2.6.4    Certifications
        12.2.7    Hewlett Packard Enterprise Development LP
            12.2.7.1    Company Overview
            12.2.7.2    Product Portfolio
            12.2.7.3    Demographic Reach and Achievements
            12.2.7.4    Certifications
        12.2.8    Others
13    Industry Events and Developments

 

List of Figures and Tables

1.    Global IoT Market: Key Industry Highlights, 2016 and 2026
2.    Global IoT Historical Market: Breakup by Component (USD Trillion), 2016-2020
3.    Global IoT Market Forecast: Breakup by Component (USD Trillion), 2021-2026
4.    Global IoT Historical Market: Breakup by Application (USD Trillion), 2016-2020
5.    Global IoT Market Forecast: Breakup by Application (USD Trillion), 2021-2026
6.    Global IoT Historical Market: Breakup by Region (USD Trillion), 2016-2020
7.    Global IoT Market Forecast: Breakup by Region (USD Trillion), 2021-2026
8.    North America IoT Historical Market: Breakup by Country (USD Trillion), 2016-2020
9.    North America IoT Market Forecast: Breakup by Country (USD Trillion), 2021-2026
10.    Europe IoT Historical Market: Breakup by Country (USD Trillion), 2016-2020
11.    Europe IoT Market Forecast: Breakup by Country (USD Trillion), 2021-2026
12.    Asia Pacific IoT Historical Market: Breakup by Country (USD Trillion), 2016-2020
13.    Asia Pacific IoT Market Forecast: Breakup by Country (USD Trillion), 2021-2026
14.    Latin America IoT Historical Market: Breakup by Country (USD Trillion), 2016-2020
15.    Latin America IoT Market Forecast: Breakup by Country (USD Trillion), 2021-2026
16.    Middle East and Africa IoT Historical Market: Breakup by Country (USD Trillion), 2016-2020
17.    Middle East and Africa IoT Market Forecast: Breakup by Country (USD Trillion), 2021-2026
18.    Global IoT Market Structure

Key Questions Answered in the Report

The global IoT market attained a value of nearly USD 1.4 trillion in 2020.

The market is projected to grow at a CAGR of 15.8% in the forecast period of 2021-2026.

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 3.4 trillion by 2026.

The IoT industry is being driven by innovations in technology, leading to network agility and integration of artificial intelligence (AI).

The market growth of IoT technology is supplemented by its application in retail management to enhance customer experience and smooth operations.

The major regional markets for IoT are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.

Devices, connectivity, IT services, and platforms are the major components of IoT in the industry.

The significant application segments of IoT are consumer electronics, retail, manufacturing, healthcare, and transportation, among others.

The major players in the industry are Accenture, Amazon Web Services Inc, Cisco Systems Inc., Huawei technologies Co., Ltd, Alphabet Inc, IBM corporation, and Hewlett Packard Enterprise Development LP, among others.

Analyst Review

The global IoT market attained a value of about USD 1.4 trillion, driven by the rising development of smart cities. Aided by rapid urbanisation and improved investments, the market is expected to grow at a CAGR of 15.8% in the forecast period of 2021-2026 to reach USD 3.4 trillion by 2026.

EMR’s meticulous research methodology delves deep into the market covering the macro and micro aspects of the industry. On the basis of component, the market is divided into devices, connectivity, IT services, and platforms. Based on application, the market is segmented into consumer electronics, retail, manufacturing, healthcare, and transportation, among others. The major regional markets for IoT are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa. They key players in the industry are Accenture, Amazon Web Services Inc, Cisco Systems Inc., Huawei technologies Co., Ltd, Alphabet Inc, IBM corporation, and Hewlett Packard Enterprise Development LP, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.

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