Global Internet of Things (IoT) Data Management Market to Reach $281 Billion by 2030
The global market for Internet of Things (IoT) Data Management estimated at US$86.8 Billion in the year 2023, is expected to reach US$281 Billion by 2030, growing at a CAGR of 18.3% over the period 2023-2030. IoT Data Management Solutions, one of the segments analyzed in the report, is expected to record 19.4% CAGR and reach US$229.3 Billion by the end of the analysis period. Growth in the IoT Data Management Services segment is estimated at 14.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $26.9 Billion, While China is Forecast to Grow at 17.3% CAGR
The Internet of Things (IoT) Data Management market in the U.S. is estimated at US$26.9 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$47.1 Billion by the year 2030 trailing a CAGR of 17.3% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 16.2% and 15.5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 13.2% CAGR.
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