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Internet of Things (IoT) Market to Exhibit 25.4% CAGR till 2028; Critical Need to Virtually Monitor Operations to Boost Growth: Fortune Business Insights™

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Pune, India, Aug. 23, 2021 (GLOBE NEWSWIRE) — The global Internet of Things market is expected to reach USD 1,854.76 billion by 2028, exhibiting a CAGR of 25.4% during the forecast period. The market is expected to gain impetus from the rising adoption of digital twins by a wide range of industries. They help in transforming the physical assets of the industries into a virtual representation. It aids in controlling, examining, and viewing the operations based on the digital platform. Fortune Business Insights™ provided this information in a recent study, titled, “Internet of Things (IoT) Market, 2021-2028.” The study further states that the market size was USD 308.97 billion in 2020.

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Will the COVID-19 Pandemic Affect the Market Severely?

  • The spread of the coronavirus infection has a varied impact on the market growth.
  • As per the guidelines given by the governments, the percentage of workforce is set to be lowered after the opening of the industries.
  • Such measures are expected to increase the dependency of people on technologies.
  • Therefore, multiple organizations worldwide would consider investing hefty amounts of money in digital technology.
  • Integration of artificial intelligence and cloud in IoT solutions is expected to contribute to the growth of the market during the current scenario.

List of key players in Internet of Things market:

  • Amazon.com Inc. (US)
  • AT&T Inc. (US)
  • Bosch Software Innovations GmbH (Germany)
  • Cisco Systems, Inc. (US)
  • IBM Corporation (US)
  • Intel Corporation (US)
  • Oracle Corporation (US)
  • Microsoft Corporation (US)
  • SAP SE (Germany)
  • Siemens AG (Germany)

Report Scope & Segmentation

Report Coverage Details
Forecast Period 2021 to 2028
Forecast Period 2021 to 2028 CAGR 25.4%
2028 Value Projection USD 1854.76 Billion
Base Year 2020
Market Size in 2020 USD 381.30 Billion
Historical Data for 2017 to 2019
No. of Pages 130
Segments covered Component, End Use Industry and Geography
Growth Drivers Device Management Segment to Grow Steadily Fueled by Need to Manage Several Devices
Usage of Smart Sensors Owing to Their Ability to Digitally Analyze Processes to Spur Growth
Asia Pacific to remain at Forefront Backed by ‘Make in India’ Initiative
Key Companies Aim to Launch New Solutions to Intensify Competition

To get to know more about the short-term and long-term impact of COVID19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/internet-of-things-iot-market-100307

Highlights of This Report:

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  • In-depth information about the market growth drivers, dynamics, and obstacles.
  • Elaborate data about the challenges and opportunities.
  • Extensive analysis of the latest trends in the market.
  • Profiles of all the companies operating in the market.

Market Segments:

Device Management Segment to Grow Steadily Fueled by Need to Manage Several Devices

In terms of platform, the market is divided into network management, cloud platform, and device management. Amongst these, the device management segment held the largest IoT market share in 2020. This growth is attributable to the rising need to manage multiple devices owing to the increasing number of connected devices present on the IoT platforms. It provides in-depth information about the working state of the devices and remotely manages the errors. This platform also reduces the testing and development time of solutions by automating the network and device administration. In an organization, such platforms aid in delivering real-time insights and centralized management of the integrated and connected devices.

Driving Factor:

Usage of Smart Sensors Owing to Their Ability to Digitally Analyze Processes to Spur Growth

A crucial factor driving the IoT market growth is the increasing adoption of smart sensors. They aid in measuring the external environments such as light intensity, position, flow, pressure, force, and temperature. Also, they measure physical inputs and convert them into raw data. The data is then stored digitally for analyzing the processes. The IoT solutions require persistent flow of data from the surroundings for functioning in a much better way. For instance, the data of the user’s activities is provided by the smart sensors integrated with the connected devices.

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Regional Insights

Asia Pacific to remain at Forefront Backed by ‘Make in India’ Initiative

In 2020, Asia Pacific generated USD 120.85 billion revenue because of the rapid adoption of IoT in developing countries, such as India. The ‘Make in India’ policy, for instance, covers 25 sectors of the country’s economy. It promotes the investment in manufacturing, as well as encourages the organizations to manufacture their products in the country. The Government of India is presently planning to build 100 smart cities in the coming years. Such steps would help the region in maintaining its dominant position in the market.

North America is set to remain in the second position throughout the forthcoming years on account of the presence of the maximum number of companies in the U.S. They are frequently investing in the development of new solutions to surge sales. The European countries, on the other hand, are focusing on enhancing their SMEs by deploying various digital solutions. The U.K. and Germany are anticipated to generate the maximum revenue. The governments of these countries are investing extensively in implementing the latest technologies for refining the advancements across a wide range of industries.

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Competitive Landscape-

Key Companies Aim to Launch New Solutions to Intensify Competition

The market houses a large number of enterprises that are currently aiming to launch new products for intensifying competition. They are also investing in research and development activities to bring in their in-house products. Below are two of the key industry developments:

  • April 2020 – Haltian, a leading IoT solution provider based in Finland, received USD 9.8 million funding from Finnish venture capital (FVC), Ilmarinen, an employment pension company, and Nordic Option Haltian.

Quick Buy – Internet of Things Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/100307

Major Table of Contents:

  • Introduction
    • Definition, By Segment
    • Research Methodology/Approach
    • Data Sources
  • Key Takeaways
  • Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints, Opportunities and Trends
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
  • Competition Landscape
    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
    • Porter’s Five Force Analysis
  • Global Internet of Things (IoT) Key Players Market Share Insights and Analysis, 2020
  • Key Market Insights and Strategic Recommendations
  • Companies Profiled (Covered for key 10 players only)
    • Overview
      • Key Management
      • Headquarters etc
    • Offerings/Business Segments
    • Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
      • Employee Size
      • Key Financials
        • Past and Current Revenue
        • Gross Margin
        • Geographical Share
        • Business Segment Share
    • Recent Developments
  • Annexure / Appendix
    • Global Internet of Things (IoT) Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
      • By Component (Value)
        • Platform
          • Device Management 
          • Cloud Platform
          • Network Management
        • Solution & Services
          • Solution
            • Real-Time Streaming Analytics
            • Security
            • Data Management
            • Remote Monitoring
            • Network Band Management
          • Services
      • By End Use Industry (Value)
        • BFSI
        • Retail
        • Government
        • Healthcare
        • Manufacturing
        • Agriculture
        • Sustainable Energy
        • Transportation
        • IT & Telecom
        • Others

TOC Continued…!

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Blockchain Market Size, Share & COVID-19 Impact Analysis, By Component (Platform/Solution and Blockchain-as-a-Service (BaaS)), By Blockchain Type (Public, Private, and Consortium), By Deployment (Proof of Concept, Pilot, and Production), By Application (Digital Identity, Payments, Smart Contract, and Others), By Industry (BFSI, Energy & Utilities, Government, Healthcare and Life Sciences, Manufacturing, Telecom), and Regional Forecast, 2020-2027

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About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. We aim to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

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Pune-Bangalore Highway,

Pune – 411045, Maharashtra, India.

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Read Press Release: https://www.fortunebusinessinsights.com/press-release/internet-of-things-iot-market-9155

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Artificial Intelligence

Darwinbox named as a Customers’ Choice in the 2024 Gartner® Peer Insights™ Voice of the Customer for Cloud HCM Suites Report for Enterprises with 1,000+ Employees

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DUBAI, UAE, June 17, 2024 /PRNewswire/ — Darwinbox, a global leader in cloud-based HCM solutions, today announced that it has been distinguished as a Customers’ Choice in the 2024 Gartner® Peer Insights™ Voice of the Customer for Cloud HCM Suites for 1,000+ Employee Enterprises.

The Gartner® Peer Insights™ Customers’ Choice distinction is based on feedback and ratings from end-user professionals with experience using the product or service. As of 31 January 2024, Darwinbox received an overall rating of 4.8 out of 5 stars across 141 reviews.
“We believe this distinction, for the third consecutive year, reflects our unwavering commitment to our customers and their success, as well as our dedication to excellence and innovation in the HCM space,” says Jayant Paleti, co-founder, Darwinbox.
Darwinbox has been named a Customers’ Choice for both Large Enterprise (1B – 10B USD) and Midsize Enterprise (50M – 1B USD) segments, showcasing its robust capabilities in handling large-scale operations and its widespread appeal across various business sizes. This recognition underscores the platform’s popularity, driven by its powerful configurability, intuitive design, and agility. An impressive 98% of customers rated Darwinbox 4-stars or higher, highlighting the overwhelming satisfaction with the product.
Furthermore, Darwinbox is recognized as the most customer-friendly enterprise-grade HCM solution globally. The platform distinguishes itself through its ease of implementation and integration, prompt vendor responses, and exceptional technical support, demonstrating Darwinbox’s dedication to quick service and client satisfaction. Notably, 94% of its customers have expressed their willingness to recommend Darwinbox, demonstrating its significant impact and reliability in the enterprise tech landscape.
“What I love is when we need support, the customer service is top-notch – always responsive, solution makers, and always helpful,” HR Business Partner, Media Industry
“Darwinbox has been able to cater to our needs given our diverse business structures and differences in processes,” HR Lead, Manufacturing Sector
Read more reviews
About Darwinbox:
Darwinbox is a leading SaaS-based HR technology platform, empowering organisations to automate HR processes and elevate the employee experience. Rated the highest globally among HCM players on Gartner’s customer review platform, Peer Insights, Darwinbox is trusted by 900+ global enterprises with more than 2.5 million employees spread across 116+ countries.
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Find Your Perfect Domain with GoDaddy’s Innovative AI Technology

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Leverage Artificial Intelligence (AI) to easily find the perfect domain name for your business
ISLAMABAD, June 17, 2024 /PRNewswire/ — As you embark on your online journey, choosing the right domain name plays a vital role in establishing your web presence. It is often one of the earliest decisions you will make as an entrepreneur or small business owner.

GoDaddy is harnessing the power of AI to help entrepreneurs and small business owners find the right domain name for their business, themselves, or their organization. GoDaddy AI Domain Search tool is designed to deliver personalized domain suggestions tailored to each user’s unique needs. Having a catchy and memorable domain name for your business helps to enhance branding and provides increased visibility for a business on the internet.
By simply entering a business description or keywords, users receive creative and unique domain name choices that can align with their brand identity and vision. GoDaddy uses generative AI to provide users with personalized and brandable domain name suggestions based on their business description, idea, product, or service.
GoDaddy AI Domain Search can simplify the process of finding the perfect domain name for a business. When a user enters information describing their business, project, or idea, including such details as business name if already chosen, location or industry, within seconds the AI tool makes suggestions by creating a list of available domain names with different variations and domain name extensions tailored to your needs.
Finding a domain name for a business idea is important as the name chosen will be reflective of your brand for many years to come. Here are some tips for finding available domain names:
Use specific keywords that describe your business, your products and services, your location, and your industry.Use keywords that people would enter when searching for your products or services.Try using variations of a word you want in your domain name to get more options.Mix up keyword combinations that can describe your business.Your aim is to create a name that is memorable, easy to pronounce, and stands out in your industry.In a world driven by AI, GoDaddy AI Domain Search tool simplifies the process of finding the perfect domain name, enabling you to effortlessly brainstorm and explore creative ideas that align with your vision. Within seconds, you can receive a selection of available domains, empowering you to bring your idea to life.
To experience the power of GoDaddy AI Domain Search visit: www.godaddy.com/en-ph/domains/domain-name-generator
About GoDaddy
GoDaddy helps millions of entrepreneurs around the world start, grow and expand their businesses. People turn to GoDaddy to name their idea, create a professional Web site, attract customers, sell their products and services, and accept online payments. GoDaddy’s easy-to-use tools help micro-entrepreneurs manage everything in one place, and its experts are available to provide 24/7 assistance. For more information about the company, visit www.GoDaddy.com.
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Artificial Intelligence

Metz, in Partnership with AI TECH, Introduces Advanced Interactive Flat Panel to Middle East Market

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SHENZHEN, China, June 17, 2024 /PRNewswire/ — METZ Display, a sub-brand of SKYWORTH and a provider of innovative interactive displays for education and business. The announcement of Artificial Intelligence Technologies LLC Dubai as the authorized exclusive distributor for the UAE market as well as the Oman, Qatar, and Bahrain markets marks a significant expansion for METZ Display. By partnering with a trusted distributor like Artificial Intelligence Technologies, METZ is strategically positioning itself to deliver its full range of smart education and smart conference room applications across these regions. This move not only strengthens METZ’s presence in the Middle East but also underscores its commitment to providing innovative interactive displays tailored for both educational and business environments.

Based on the 16 years of R&D and business experience in the IFPD market from SKYWORTH, METZ Display fully inherited its technology and has introduced several interactive displays in the education and business sectors that provide a highly immersive environment and user-friendly experience since 2022, such as the all-in-one LCD.
Mr. Summer Deng METZ  Sales & Marketing Head of MEA, said: ” The IFPD market in MEA is expected to see rapid growth over the next couple of years. The partnership with Artificial Intelligence Technologies LLC, a business entity to promote AI & AV Products, Tools, and services in the United Arab Emirates & Middle East Region will take METZ Display to another new level. We are confident to further develop our quality products and service!”
METZ Display is expanding its reach into the UAE market through Artificial Intelligence Technologies LLC Dubai as its authorized distributor.
The introduction of the METZ K Pro Series, particularly the EDLA Certified collaborative display, in the MEA Region highlights their commitment to providing innovative interactive display solutions for both education and business sectors. This move could potentially enhance learning and collaboration experiences in the region.
Mr. Harold Fernandes, the Managing Director of Artificial Intelligence Technologies, seems quite enthusiastic about the partnership with METZ Display. His emphasis on the versatility of METZ’s portfolio, applicable across various sectors such as education and business, reflects a keen understanding of the market’s needs. By highlighting the engaging experiences offered by METZ Display products, he’s underlining the potential benefits for resellers and end-users alike. This partnership seems poised to bring innovative solutions to the UAE market.
About METZ Display
With Skyworth, one of the world’s largest TV companies, and Metz, one of the oldest German manufacturers, METZ Display creates high-quality educational and business applications that make state-of-the-art screen technology available to everyone by combining their strengths and 80 years of experience.
About Artificial Intelligence Technologies LLC
Artificial Intelligence Technologies LLC, Is established as a business entity to promote AI & AV Products, and complete AV Solution, Tools & Services in the United Arab Emirates & Middle East Region. Visit the website at https://ai-tech.ai/ 
Phone: +971 4299 0544Email: [email protected]: www.ai-tech.ai
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