IoT Market Forecasts to 2030 – Global Analysis By Organization Size (Large Enterprises, Small Enterprises, Medium Enterprises), Technology (Pressure Sensor, Network Communicatons, Radiofrequency Identification, Near Field Communications, Other Technologie

IoT Market Forecasts to 2030 – Global Analysis By Organization Size (Large Enterprises, Small Enterprises, Medium Enterprises), Technology (Pressure Sensor, Network Communicatons, Radiofrequency Identification, Near Field Communications, Other Technologies), End User and by Geography


According to Stratistics MRC, the Global IoT Market is accounted for $382.5 billion in 2023 and is expected to reach $1,307.9 billion by 2030 growing at a CAGR of 19.2% during the forecast period. The term Internet of Things"" (IoT) refers to a network of physical and digital objects that may speak to one another on their own utilizing the Internet Protocol (IP). The physical objects have sensors, software, and networking features that allow for data collection and exchange over the internet. Its applicability ranges from simple domestic items to more sophisticated industrial applications. It serves as a global infrastructure for the information society, allowing for the interconnection of things through enhanced services based on current and developing communication technologies.

According to the International Federation of Robotics, the market for collaborative robots is expected to reach a value of USD 12.3 billion by 2025.

Market Dynamics:

Driver:

An increase in linked devices in the development of the IoT

Organizations have a ton of options due to internet connectivity and linked devices to gather pertinent data about consumer activity in retail stores for real-time marketing research, sensor-driven decision analytics, and instantaneous control responses in sophisticated autonomous systems. With the use of the Internet of Things (IoT), businesses and governments may access location-based data in real time from all smart potentials, including smart cities, smart transportation, and smart utilities. Additionally, the availability of high-speed network access has made it possible for different industries, including those in the energy, healthcare, transportation, and other utility sectors, to monitor and manage the infrastructure more effectively.

Restraint:

Lack of awareness of IoT and raise in security issues

One of the main obstacles to the creation of a smart environment is the general lack of public awareness. The government's aim to develop smart city solutions is also diminished by the fact that many local inhabitants are unaware of smart city initiatives. The IoT ecosystem's many platforms, systems, and protocols lack established communication standards and compatibility. Because of this fragmentation, it is difficult for various IoT components to cooperate and integrate easily, which restricts scalability and hampers the development of a single IoT infrastructure. As linked devices and data transfers increase, security issues and privacy risks become more prevalent.

Opportunity:

Availability of inexpensive, low-power sensor technology

The most crucial IoT device components are sensors. They aid in gathering data regarding a physical occurrence or condition and environment around them, including orientation, motion, light, sound, humidity, and temperature, as well as biometrics like blood pressure and heart rate, can all be measured by sensors. Low-power sensors will make IoT easier to execute across industry sectors and in a range of application areas. Therefore, it is anticipated that ongoing sensor technology innovation will increase the possibilities of the IoT.

Threat:

Lack of technological innovation and expertise in underdeveloped economies

Many countries experience a shortage of vital technology, such as telecom and networking infrastructure, and are unable to quickly implement smart projects due to a number of problems, including limited funding and low literacy rates. Moreover, because of the complexity of IoT, security flaws, and integration difficulties, effective implementation in the IoT industry is hampered by a lack of expertise. Furthermore, as a result, it is expected that both a lack of assets and infrastructure in developing nations as well as customer ignorance and lack of expertise will hinder the growth of the Internet of Things sector. Hence, rapid technological improvements and shifting consumer expectations necessitate ongoing innovation, which leads to competitive disadvantages, increased prices, and dissatisfied customers.

Covid-19 Impact:

COVID-19 has had never-before-seen consequences for society and business. Healthcare professionals, governments, and business executives around the world are more concerned with preserving life. Various supply and demand factors during the epidemic have abruptly lowered manufacturing levels and shut down businesses. Major, important companies are also not investing as much in research and IoT development as they once did, and manufacturers and industries have struggled greatly as a result of COVID-19.

The software solutions segment is expected to be the largest during the forecast period

The software solutions segment is expected to have lucrative growth due to the corporate applications that boost operational effectiveness, improve customer satisfaction, and create new prospects for generating income. IoT devices that are internet-connected easily communicate data with one another, work together to run apps, and offer reliable data decisions to the user. Wide-ranging technologies provided by software solutions help businesses achieve their goals and keep a key competitive edge. In order to automate various tasks at critical infrastructure, industrial, and other systems, software solutions are gaining popularity.

The agriculture segment is expected to have the highest CAGR during the forecast period

It is expected that the agriculture category would expand at the largest CAGR. A number of factors, including the increasing need for field-based sensors and equipment, smart farming, smart greenhouses, smart agriculture, precision farming, and smart drones are a few of the primary technological applications in the agricultural industry. Their ability to make more informed decisions has helped them cut costs while increasing yields. For instance, smart farming improves the overall agricultural system through real-time farm monitoring and enables farmers to effectively produce food.

Region with largest share:

During the forecast period it is anticipated that Asia Pacific region is largest. This region has become a valuable market for the IT industry to the high rate of adoption of new technology. The region is helpful in emerging nations that are going through rapid urbanization, making it the most active region in the world for urbanization. The majority of the world's emerging nations are found in this region, which is the most dynamic in the world for urbanization.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period that is because it is a technologically advanced region. US and Canada have developed economies, enabling them to make significant investments in R&D projects. The utilization of connected devices and associated network infrastructure, as well as the increased cooperation between hardware, network, and software providers, are the main factors contributing to the growth of the IoT market in the North American area. Moreover, by embracing IoT capabilities, Canadian businesses are enhancing and optimizing their business operations where businesses produce and the market run more efficiently.

Key players in the market

Some of the key players in IoT Market include Amazon Web Services, Cisco Systems, GE, Google, IBM Corporation, Intel Corporation, Microsoft Corporation, Oracle Corporation, Power Trading Corporation (PTC), Qualcomm, SAP SE, Siemens AG.

Key Developments:

In January 2023, Intel introduced the Intel Core mobile processor, 13th Gen. The advancement is powered by Intel's hybrid architecture and has 32 mobile processors. Intel's Core H-, P-, and U- range mobile processors are power-driven with light and thin laptops and Internet of Things devices.

In December 2022, AWS and Slalom expanded their strategic partnership to provide innovative, high-tech, and industry-precise solutions to the expanded customer base. The two firms collaborate to launch AWS|Shalom Launch Centers to help organizations modernize IT services and accelerate business renovations. These centres enable customers to access the AWS professional service with cloud solutions and Slalom expertise in software mechanics, analytical capabilities, and business transformation.

In December 2022, Deloitte announced the launch of Olympus with AWS (Amazon Web Services). Olympus is a worldwide investment fund for building industry cloud solutions along with advanced technologies such as IoT, AI, machine learning, 5G, quantum computing, and AR/VR, everything on the cloud. The initiative aims to solve the issues related to food waste, clean energy, financial product access, and many such problems.

In November 2022, AWS IoT Core launched a new location service in collaboration with LoRa Edge. The partnership simplifies the development of asset tracking and connects LoRa Edge devices to AWS. The low-power, scalable, and cost-effective technology is suited for several applications such as building, industrial, home, agriculture, transportation, and logistics sector.

In February 2022, Siemens upgraded its NX Software in the Xcelerator portfolio with intelligence-based design features. This upgrade allows the application to leverage advanced simulation technologies and AI, delivering proficient insights to the users.

Products Covered:
• Sensors
• Software
• Cameras
• Other Products

Technologies Covered:
• Hyperspectral Technology
• Multispectral Technology

Applications Covered:
• Crop Scouting
• Field Mapping
• Inventory Management
• Irrigation Management

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global IOT Market, By Component
5.1 Introduction
5.2 Platform
5.2.1 Cloud Platform
5.2.2 Device Management
5.2.3 Network Management
5.3 Software Solution
5.3.1 Data Management
5.3.2 Network Band Management
5.3.3 Security
5.3.4 Remote Monitoring
5.3.5 Real-Time Streaming Analytics
5.4 Services
5.5 Other Components
6 Global IOT Market, By Organization Size
6.1 Introduction
6.2 Large Enterprises
6.3 Small Enterprises
6.4 Medium Enterprises
7 Global IOT Market, By Technology
7.1 Introduction
7.2 Pressure Sensor
7.3 Network Communicatons
7.4 Radiofrequency Identification
7.5 Near Field Communications
7.6 Other Technologies
8 Global IOT Market, By End User
8.1 Introduction
8.2 Smart Manufacturing
8.2.1 Asset Tracking and Remote Management
8.2.2 Production Optimization
8.2.3 Workforce Management
8.3 Smart transportation/mobility
8.3.1 Fleet Management
8.3.2 Cargo Monitoring
8.3.3 Traffic Management
8.3.4 Ticketing and Toll Collection
8.4 Smart Energy & Utilities
8.4.1 Energy Efficiency
8.4.2 Energy Transmission and Distribution
8.4.3 Energy Consumption
8.5 Smart Retail
8.5.1 Geomarketing and Advertising
8.5.2 Smart Payment and Customer Experience
8.6 Connected Healthcare
8.6.1 Telemedicine
8.6.2 Clinical Operations Management
8.6.3 Imaging and Diagnostics
8.7 Smart Agriculture
8.7.1 Field and Crop Monitoring
8.7.2 Weather Monitoring
8.8 Smart Buildings
8.8.1 Identity and Access Management
8.8.2 Smart Water Management
8.8.3 Automation and Control
8.9 Other End Users
9 Global IOT Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Amazon Web Services
11.2 Cisco Systems
11.3 GE
11.4 Google
11.5 IBM Corporation
11.6 Intel Corporation
11.7 Microsoft Corporation
11.8 Oracle Corporation
11.9 Power Trading Corportion (PTC)
11.10 Qualcomm
11.11 SAP SE
11.12 Siemens AG
List of Tables
Table 1 Global IOT Market Outlook, By Region (2021-2030) ($MN)
Table 2 Global IOT Market Outlook, By Component (2021-2030) ($MN)
Table 3 Global IOT Market Outlook, By Platform (2021-2030) ($MN)
Table 4 Global IOT Market Outlook, By Cloud Platform (2021-2030) ($MN)
Table 5 Global IOT Market Outlook, By Device Management (2021-2030) ($MN)
Table 6 Global IOT Market Outlook, By Network Management (2021-2030) ($MN)
Table 7 Global IOT Market Outlook, By Software Solution (2021-2030) ($MN)
Table 8 Global IOT Market Outlook, By Data Management (2021-2030) ($MN)
Table 9 Global IOT Market Outlook, By Network Band Management (2021-2030) ($MN)
Table 10 Global IOT Market Outlook, By Security (2021-2030) ($MN)
Table 11 Global IOT Market Outlook, By Remote Monitoring (2021-2030) ($MN)
Table 12 Global IOT Market Outlook, By Real-Time Streaming Analytics (2021-2030) ($MN)
Table 13 Global IOT Market Outlook, By Services (2021-2030) ($MN)
Table 14 Global IOT Market Outlook, By Other Components (2021-2030) ($MN)
Table 15 Global IOT Market Outlook, By Organization Size (2021-2030) ($MN)
Table 16 Global IOT Market Outlook, By Large Enterprises (2021-2030) ($MN)
Table 17 Global IOT Market Outlook, By Small Enterprises (2021-2030) ($MN)
Table 18 Global IOT Market Outlook, By Medium Enterprises (2021-2030) ($MN)
Table 19 Global IOT Market Outlook, By Technology (2021-2030) ($MN)
Table 20 Global IOT Market Outlook, By Pressure Sensor (2021-2030) ($MN)
Table 21 Global IOT Market Outlook, By Network Communicatons (2021-2030) ($MN)
Table 22 Global IOT Market Outlook, By Radiofrequency Identification (2021-2030) ($MN)
Table 23 Global IOT Market Outlook, By Near Field Communications (2021-2030) ($MN)
Table 24 Global IOT Market Outlook, By Other Technologies (2021-2030) ($MN)
Table 25 Global IOT Market Outlook, By End User (2021-2030) ($MN)
Table 26 Global IOT Market Outlook, By Smart Manufacturing (2021-2030) ($MN)
Table 27 Global IOT Market Outlook, By Asset tracking and remote management (2021-2030) ($MN)
Table 28 Global IOT Market Outlook, By Production optimization (2021-2030) ($MN)
Table 29 Global IOT Market Outlook, By Workforce management (2021-2030) ($MN)
Table 30 Global IOT Market Outlook, By Smart transportation/mobility (2021-2030) ($MN)
Table 31 Global IOT Market Outlook, By Fleet management (2021-2030) ($MN)
Table 32 Global IOT Market Outlook, By Cargo monitoring (2021-2030) ($MN)
Table 33 Global IOT Market Outlook, By Traffic management (2021-2030) ($MN)
Table 34 Global IOT Market Outlook, By Ticketing and toll collection (2021-2030) ($MN)
Table 35 Global IOT Market Outlook, By Smart energy & utilities (2021-2030) ($MN)
Table 36 Global IOT Market Outlook, By Energy efficiency (2021-2030) ($MN)
Table 37 Global IOT Market Outlook, By Energy transmission and distribution (2021-2030) ($MN)
Table 38 Global IOT Market Outlook, By Energy consumption (2021-2030) ($MN)
Table 39 Global IOT Market Outlook, By Smart retail (2021-2030) ($MN)
Table 40 Global IOT Market Outlook, By Geomarketing and advertising (2021-2030) ($MN)
Table 41 Global IOT Market Outlook, By Smart payment and customer experience (2021-2030) ($MN)
Table 42 Global IOT Market Outlook, By Connected healthcare (2021-2030) ($MN)
Table 43 Global IOT Market Outlook, By Telemedicine (2021-2030) ($MN)
Table 44 Global IOT Market Outlook, By Clinical operations management (2021-2030) ($MN)
Table 45 Global IOT Market Outlook, By Imaging and diagnostics (2021-2030) ($MN)
Table 46 Global IOT Market Outlook, By Smart agriculture (2021-2030) ($MN)
Table 47 Global IOT Market Outlook, By Field and crop monitoring (2021-2030) ($MN)
Table 48 Global IOT Market Outlook, By Weather monitoring (2021-2030) ($MN)
Table 49 Global IOT Market Outlook, By Smart buildings (2021-2030) ($MN)
Table 50 Global IOT Market Outlook, By Identity and access management (2021-2030) ($MN)
Table 51 Global IOT Market Outlook, By Smart water management (2021-2030) ($MN)
Table 52 Global IOT Market Outlook, By Automation and control (2021-2030) ($MN)
Table 53 Global IOT Market Outlook, By Other End Users (2021-2030) ($MN)

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook
Cookie Settings