Strategic Intelligence: Internet of Things

Strategic Intelligence: Internet of Things

Summary

The Internet of Things, or IoT, describes the use of connected sensors and actuators to control and monitor the environment, the things that move within it, and the people that act within it. Use cases include the automated home, the connected car, wearable technology, smart cities, and predictive maintenance for industrial machinery.

Key Highlights

• GlobalData forecasts that the global IoT market will reach $1.8 trillion in revenue by 2028. Enterprise IoT will account for 72% of market revenue by 2028, up from 70% in 2023, while the consumer segment will make up 28% in 2028, down from 30% in 2023.
• Artificial Intelligence of Things (AIoT) involves embedding AI into IoT devices, software, and services. Combining data collected by connected sensors and actuators with AI supports automated operations and predictive maintenance. AI can run in the cloud, on IoT devices directly with some limitations, or on both the cloud and the device.
• The fragmented security standards landscape and weak security of many IoT devices could hold back further IoT adoption. Additionally, IoT deployments can become security risks. Despite ongoing industry efforts, there are no globally accepted IoT security standards. Many IoT devices have limited computing capacity and cannot run effective security software, leaving them and the networks to which they are connected vulnerable to cyberattacks.

• This report provides an overview of the Internet of Things theme.
• It identifies the key trends shaping the theme over the next 12 to 24 months, split into three categories: technology trends, macroeconomic trends, and regulatory trends.
• It includes a comprehensive industry analysis, including market size and growth forecasts for the global Internet of Things market, alongside analysis of trends in GlobalData's proprietary signals data, including M&As, venture financing, patents, company filings, and hiring.
• The detailed value chain is split into five layers: physical, connectivity, data, apps, and services.
• Also included are profiles of leading players in the IoT theme, including Alibaba, Amazon, Arm, Baidu, Cisco, Ericsson, Huawei, Microsoft, Nokia, and Synaptics.

• The Internet of Things, or IoT, is an umbrella term referring to the ability of everyday physical objects (such as fridges, watches, or cars) to connect with other devices over the internet, enabling them to send and receive data.
• It describes using connected sensors and actuators to control and monitor the environment, the things that move within it, and the people that act within it. By collecting and analyzing the data they transmit, consumers and businesses can monitor, maintain, and upgrade these “things” much more efficiently. Using IoT, many aspects of our lives, such as securing our homes or predicting when our car will need its next service, can be automated, saving time, energy, and money.