Global Internet of Things Market 2023-2027

Global Internet Of Things Market 2023-2027

Technavio has been monitoring the internet of things market and is forecast to grow by $1036.83 bn during 2022-2027, accelerating at a CAGR of 15.12% during the forecast period. Our report on the internet of things market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by technological developments in different platforms, exponential growth of internet-connected and operated devices, and rise in industrial automation.

Technavio's internet of things market is segmented as below:

By Application

• Industrial
• Retail
• Healthcare
• ICT
• Others

By Technology

• RFID
• Sensors
• NFC
• Cloud services
• Others

By Geography

• APAC
• North America
• Europe
• Middle East and Africa
• South America

This study identifies the use of wearables to monitor human health and the environment as one of the prime reasons driving the internet of things market growth during the next few years. Also, inclusion of blockchain technology in IoT and leveraging manufacturing data for predictive maintenance will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the internet of things market covers the following areas:

• Internet of things market sizing
• Internet of things market forecast
• Internet of things market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading internet of things market vendors that include Aeris Communications Inc., Alphabet Inc., Amazon.com Inc., AT and T Inc., Cisco Systems Inc., Fujitsu Ltd., General Electric Co., Hewlett Packard Enterprise Co., Honeywell International Inc., Intel Corp., International Business Machines Corp., Koninklijke Philips NV, Microsoft Corp., Oracle Corp., PTC Inc., Robert Bosch GmbH, SAP SE, Siemens AG, Wipro Ltd., and Thales Group. Also, the internet of things market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.