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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:

  • 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.

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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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:

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Artificial Intelligence

Enghouse Video Partners With SONIFI Health To Deliver Advanced Telehealth Solutions In Hospital Rooms

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MARKHAM, ON, April 25, 2024 /PRNewswire/ — Enghouse Video, a global leader in cutting-edge video technology solutions, today announced its partnership with SONIFI Health, enhancing virtual care in hospital settings.

SONIFI Health is a leading U.S. healthcare technology company based in Sioux Falls, South Dakota. The new partnership leverages and integrates Enghouse Video room systems technology to support SONIFI Health’s commitment to expanding telehealth applications and system optimizations in hospital settings.
Enghouse’s VidyoRooms solution, a sophisticated video conferencing technology that combines both software and hardware solutions, has been fully integrated into SONIFI Health’s interactive TV systems. This integration provides up to 4K high-quality video conferencing, multi-party sessions and robust security features that ensure full compliance with healthcare regulations.
Enghouse Video offers an immersive telehealth platform to support collaborative interdisciplinary care, improved patient outcomes and cost savings. The platform is flexible and simple, delivering the reliability, interoperability, and scalability needed for today’s healthcare environment. A key strength of the partnership is its offering of back-end integrations like patient portals, medical devices, EMR, tele-sitting, remote patient observation and consultation.
“Hospitals can choose the telehealth partner that’s right for them, and we incorporate that solution with interactive TV,” said Brian Nido, SONIFI Health’s Vice President of Customer Success. “Using the hardware and systems they already have in patient rooms helps hospitals reduce costs and maximize the value of their existing investments, while benefiting both clinicians and patients.”
SONIFI Health and Enghouse Video continue to collaborate closely to further refine and enhance the telehealth solutions provided to healthcare facilities. This partnership reflects a shared commitment to leveraging technology to create smarter hospital rooms and improve patient care across the healthcare spectrum.
About Enghouse VideoEnghouse Video, part of the Enghouse Interactive division, is a subsidiary of Enghouse Systems Limited, a vertically focused software and services company traded on the Toronto Stock Exchange (TSX: ENGH). Through highly secure, scalable and flexible Cloud-based or On Prem services, we deliver one of the world’s highest quality and most innovative video platform to video-enable any application or idea. From advanced video conferencing and collaboration tools to state-of-art enterprise video management, Enghouse Video is a unique player in multiple markets, including telehealth. Learn more at www.enghousevideo.com, read our blog, or follow us on Twitter at @EnghouseVideo, on LinkedIn, and on Facebook.
About SONIFI HealthSONIFI Health provides market-leading interactive patient engagement technology proven to improve patient outcomes and staff productivity. The EHR-integrated platform is designed to enhance patient and family experiences while increasing staff satisfaction and organizations’ operational efficiencies. As part of SONIFI Solutions, Inc., the company annually supports more than 300 million end user experiences. Learn more at sonifihealth.com.
Enghouse Video Contact: Sylvain Awad, Director, Demand Generation, Enghouse Video, part of Enghouse Interactive Division, [email protected]

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Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow

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Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.

Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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ScreenPoint Medical Leadership Transition: Pieter Kroese Confirmed as CEO

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Leading Breast AI Company, creator of industry-leading Transpara®, promotes from within for new CEO
NIJMEGEN, Netherlands, April 25, 2024 /PRNewswire/ — ScreenPoint Medical, today announced a significant transition in its leadership as Mark Koeniguer, the current CEO, steps down from his position. Mark served as CEO since 2022 and was instrumental in ScreenPoint’s commercial growth and success over the past 2 years.

 
 
The company’s Board of Directors has appointed Pieter Kroese as the new Chief Executive Officer effective April 25, 2024. Pieter takes the role after serving as COO of ScreenPoint for over five years. During that time, he has managed the transition of the company from an early startup to a thriving enterprise with hundreds of customers using ScreenPoint’s flagship Transpara software to support millions of scans a year.
“I am thrilled to lead ScreenPoint into its next phase of growth and innovation,” said Mr. Kroese. “I am deeply committed to building upon the strong foundation we have and continuing to work closely with our talented team to drive continued success. We are already expanding screening capacity and capability through proven reader support – we look forward to increasing our ability to support providers and women moving forward.”
Sir Michael Brady, Chairman of the Board at ScreenPoint Medical and a co-founder of the company, expressed enthusiasm about Pieter’s appointment, stating, “Pieter’s remarkable leadership qualities, coupled with his depth of knowledge of our product and industry, make him the perfect choice to lead ScreenPoint into the future. His strategic mindset and commitment to excellence align perfectly with our company mission of early breast cancer detection. Pieter has been an integral part of our growth to date and will provide seamless leadership through this transition into our next chapter for our customers, partners, and team.”
Author of “No Longer Radical” and over a hundred peer-reviewed publications on breast imaging, Dr. Rachel Brem is a Transpara user and ScreenPoint Board Member. Dr. Brem welcomed Mr. Kroese with the following: “Pieter has been an integral part of the ScreenPoint team for years. I am confident that his leadership will continue to deliver product excellence: earlier detection with outstanding reading workflow and improved patient outcomes. We continue to see these results from clinical sites all over the world, including many here in the United States. No other Breast AI solution has demonstrated the same results as Transpara, and I am confident that the team will continue to push on these frontiers under Pieter’s leadership.” 
The entire team at ScreenPoint extends its gratitude to Mark Koeniguer and wishes him every success in the future, while warmly welcoming Pieter Kroese into his new role as CEO.
About ScreenPoint Medical
ScreenPoint Medical translates cutting edge machine learning research into technology accessible by radiologists to improve screening workflow, decision confidence and breast cancer risk assessment. Transpara is trusted by radiologists globally because it has been developed by experts in machine learning and image analysis and updated with user feedback from world-renowned breast imagers.
See all the proof at: https://screenpoint-medical.com/evidence.
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