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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 (2017-2027); 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 2022-2027 at a CAGR of 15.8% to reach nearly USD 3.4 trillion by 2026.
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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.
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: Market 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.
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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.
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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 | 2017-2021 |
| Forecast Period | 2022-2027 |
| 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, 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 (2017-2021)
8.3 Global IoT Market Forecast (2022-2027)
8.4 Global IoT Market by Component
8.4.1 Devices
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 Connectivity
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.4.3 IT Services
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2017-2021)
8.4.3.3 Forecast Trend (2022-2027)
8.4.4 Platforms
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2017-2021)
8.4.4.3 Forecast Trend (2022-2027)
8.5 Global IoT Market by Application
8.5.1 Consumer Electronics
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 Retail
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.5.3 Manufacturing
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2017-2021)
8.5.3.3 Forecast Trend (2022-2027)
8.5.4 Healthcare
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2017-2021)
8.5.4.3 Forecast Trend (2022-2027)
8.5.5 Transportation
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2017-2021)
8.5.5.3 Forecast Trend (2022-2027)
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 (2017-2021)
9.1.2 Forecast Trend (2022-2027)
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 (2017-2021)
9.2.2 Forecast Trend (2022-2027)
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 (2017-2021)
9.3.2 Forecast Trend (2022-2027)
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 (2017-2021)
9.4.2 Forecast Trend (2022-2027)
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 (2017-2021)
9.5.2 Forecast Trend (2022-2027)
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 Key Indicators for Demand
10.4 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 Key Figures and Tables
1. Global IoT Market: Key Industry Highlights, 2016 and 2026
2. Global IoT Historical Market: Breakup by Component (USD Trillion), 2017-2021
3. Global IoT Market Forecast: Breakup by Component (USD Trillion), 2022-2027
4. Global IoT Historical Market: Breakup by Application (USD Trillion), 2017-2021
5. Global IoT Market Forecast: Breakup by Application (USD Trillion), 2022-2027
6. Global IoT Historical Market: Breakup by Region (USD Trillion), 2017-2021
7. Global IoT Market Forecast: Breakup by Region (USD Trillion), 2022-2027
8. North America IoT Historical Market: Breakup by Country (USD Trillion), 2017-2021
9. North America IoT Market Forecast: Breakup by Country (USD Trillion), 2022-2027
10. Europe IoT Historical Market: Breakup by Country (USD Trillion), 2017-2021
11. Europe IoT Market Forecast: Breakup by Country (USD Trillion), 2022-2027
12. Asia Pacific IoT Historical Market: Breakup by Country (USD Trillion), 2017-2021
13. Asia Pacific IoT Market Forecast: Breakup by Country (USD Trillion), 2022-2027
14. Latin America IoT Historical Market: Breakup by Country (USD Trillion), 2017-2021
15. Latin America IoT Market Forecast: Breakup by Country (USD Trillion), 2022-2027
16. Middle East and Africa IoT Historical Market: Breakup by Country (USD Trillion), 2017-2021
17. Middle East and Africa IoT Market Forecast: Breakup by Country (USD Trillion), 2022-2027
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 2022-2027.
The market is estimated to witness a healthy growth in the forecast period of 2022-2027 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 2022-2027 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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