Internet of Things (IoT) Market Size, Share, Trends, Analysis Report by End-User (Enterprise, Consumer), Product (Hardware, Software, and Services), Enterprise Size, Vertical (Government, Utilities, Manufacturing, Transport & Logistics, and Others), Region, and Segment Forecast 2023-2027
SummaryThe IoT market size was valued at $969.6 billion in 2023. The market is expected to grow at a CAGR of 15.8% during the forecast period (2023-2027). The IoT market report provides an executive-level overview of the current IoT market worldwide, with detailed forecasts of key indicators up to 2027.
This market intelligence report offers a thorough, forward-looking analysis of the global Internet of Things market, and key segments in a concise format to help executives build proactive and profitable growth strategies.
The global Internet of Things (IoT) market size revenue was valued at $969.6 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 15.8% during 2023-2027. The adoption of IoT is poised to receive significant support from the rise of artificial intelligence of things (AIoT), driven primarily by advancements such as ChatGPT, the growing acceptance of smart cities, and progress in connectivity technologies such as LoRaWAN, Sigfox, and Zigbee.
ScopeThis report provides overview and service addressable market for Internet of Things.
It identifies the key trends impacting growth of the market over the next 12 to 24 months.
It includes global market forecasts for the Internet of Things industry and analysis of patents, company filings, and hiring trends.
It contains details of M&A and VF deals in the Internet of Things space.
The detailed value chain consists of five main aspects: IoT Device layer, IoT Connectivity layer, IoT Data layer, IoT Services layer, and IoT App layer
Reasons to BuyThis market intelligence report offers a thorough, forward-looking analysis of the global Internet of things market, product type, key vendor outlook, and key opportunities in a concise format to help executives build proactive and profitable growth strategies.
Accompanying GlobalData’s Forecast products, the report examines the assumptions and drivers behind ongoing and upcoming trends in Internet of Things markets.
With more than 20 charts and tables, the report is designed for an executive-level audience, boasting presentation quality.
The report provides an easily digestible market assessment for decision-makers built around in-depth information gathered from local market players, which enables executives to quickly get up to speed with the current and emerging trends in Internet of Things markets.
The broad perspective of the report coupled with comprehensive, actionable detail will help Internet of Things players, investors, and other stakeholders succeed in the growing Internet of Things market globally.