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IoT Market Size, Share, Growth, Trends, Business Opportunities, IoT Companies, Statistics, Report 2028 | Internet of Things Industry Report- Fortune Business Insights

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Pune, India, Nov. 10, 2021 (GLOBE NEWSWIRE) — The global IoT market size was USD 308.97 billion in 2020. The market is projected to grow from USD 381.30 billion in 2021 to USD 1,854.76 billion in 2028 at a CAGR of 25.4% in the 2021-2028 period. This information is provided by Fortune Business Insights™ in its report titled, “Internet of Things (IoT) Market, 2021-2028.”

According to our expert analysts, the ability of IoT devices to interact with each other-self-reliantly without human interference is expected to open fresh revenue sources, fuel business proficiencies, empower novel business models, and augment the method of how prevailing services are offered across numerous diverse industries and sectors.

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List of Key Players Covered in the Internet of Things (IoT) Market Report

  • Amazon Web Services, Inc. (Washington, U.S.)
  • AT&T, Inc. (Texas, U.S.)
  • Robert Bosch LLC (Gerlingen, Germany)
  • Cisco Systems, Inc. (California, U.S.)
  • IBM Corporation (New York, U.S.)
  • Oracle Corporation (California, U.S.)
  • SAP SE (Walldorf, Germany)
  • Siemens AG (Munich, Germany)
  • Broadcom, Inc. (California, U.S.)
  • Texas Instruments, Inc. (Texas, U.S.)

COVID-19 Impact

Internet of Things (IoT) Technology to be utilized to Tackle Coronavirus Situation

Healthcare professionals and producers are working incessantly to offer appropriate services in order to safeguard residents from being infected by novel coronavirus disease. Moreover, hospitals have initiated the usage of linked thermometers to observe patients and work for personnel. For example,

  • In January 2021, Nuance Communication, Inc. unveiled an AI-empowered virtual associate medium for patient communication in order to alter vocal and digital experiences throughout the patient’s stay at the hospital.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/internet-of-things-iot-market-100307

Report Coverage

We provide reports which are conducted with an all-inclusive examination approach that majorly emphasizes delivering precise material. Our scholars have applied a data triangulation method which further assists us in offering trustworthy estimations and testing the general market dynamics accurately. Further, our analysts have received admission to numerous international as well as regional funded registers for providing the up-to-date material so that the stakeholders and business professionals invest only in essential zones.

Segmentation

Based on the component, the market is divided into platforms and solutions & services. The platform is further sub-segmented into device management, cloud platform, and network management. Network management holds a significant market share due to the rising need for remote monitoring systems and internet-enabled devices in organizations.

On the basis of end-use industry, the market has been segregated into BFSI, retail, government, healthcare, manufacturing, agriculture, sustainable energy, transportation, IT & telecom, and others.

The market has been branched across five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Drivers and Restraints

Increasing Smart City Programs Set to Spur Market Growth

As the world shifts towards urbanization, the increasing number of smart city ventures and rising government spending towards the digital bionetworkis are estimated to upsurge the demand for IoT devices.

Moreover, the IoT platforms and gadgets are utilized for observing movement, infrastructures, and air and water superiority to refine infrastructure, public services, as well as services. For example,

  • According to IoT Analytics, the European Innovation Partnership for Smart Cities and Communities (EIP-SCC) has expended about USD 1.12 billion to build around 300 smart cities based in Europe in 2019.

This is expected to bolster the internet of things market growth.

Regional Insights

Asia Pacific to Lead Backed by Surging Government Expenditure

Asia Pacific was responsible for the maximum market share owing to the rising smart city programs by the government and cloud expenditure in the region. Communication service suppliers and producers in the Asia Pacific industry are extending their product collection.

North America has made substantial development in the embracement of IoT, particularly in the industrial and automotive sectors. Nevertheless, the upsurge in the number of data openings has made a significant contribution toward the requirement for security solutions.

The European internet of things market is projected to display the highest CAGR during the forecast period.

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Competitive Landscape

Reputable Players Financing in Fundamental Technologies to Remain Competitive in Market

Companies are making considerable investments in progressive technologies such as Artificial Intelligence AI, cloud computing, and others. Investments in innovative technologies have empowered chief players to extend their business into several end-user industries and attain a competitive edge.

Recognized market players are making significant financing in startups and mid-scale corporations to provide proficient solutions to the end-use sectors such as healthcare, industrial production, retail, and others.

Industry Development

October 2020: DENSO Corporation presented Factory-IoT Platform that allows the notion of ‘as if under one roof.’ This platform aids in associating about 130 production facilities across the globe permitted with Information Technology (IT) and IoT technologies.

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Table Of Content

  • 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
  • Global Internet of Things 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 (Subjected to data available in public domain and/or on paid databases)
      • Employee Size
      • Key Financials
        • Past and Current Revenue
        • 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(USD)
        • 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 (USD)
        • Banking, Financial Services and Insurance (BFSI)
        • Retail
        • Government
        • Healthcare
        • Manufacturing
        • Agriculture
        • Sustainable Energy
        • Transportation
        • IT & Telecom
        • Others

TOC Continued…!

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Have a Look at Related Research Insights:

Unified Communication as a Service (UCaaS) Market Size, Share & COVID-19 Impact Analysis, By Component (Telephony, Unified Messaging, Collaboration Platforms, Conferencing), By Delivery Model (Managed Services, and Hosted/ Cloud Services), By Organization Size (Large Enterprises, SMEs), By Vertical (BFSI, IT and Telecommunications, IT-enabled Services (ITeS), Education, Retail and Consumer Goods), and Regional Forecast, 2021 –2028

Location Analytics Market Size, Share & COVID-19 Impact Analysis, By Component (Solution, Services), By Location Type (Indoor, Outdoor), By Deployment (On-Premises, Cloud), By Application (Disaster and Emergency Response Management, Sales and Marketing Optimization, Supply Chain Management), By Vertical (BFSI, Transportation and Logistics, Government and Defense, Tourism and Hospitality), and Regional Forecast, 2021-2028

Fleet Management Software Market Size, Share & COVID-19 Impact Analysis, By Component (Solution, and Services), By Fleet Type (Commercial Fleet and Passenger Cars), By Deployment (Cloud, and On-premises), By Industry (Manufacturing, Logistics, Transportation, Oil & Gas, Chemical, and Others), and Regional Forecast, 2021-2028

Virtual Reality (VR) Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, Software, and Content), By Device Type (Head Mounted Display, VR Simulator, VR Glasses, Treadmills & Haptic Gloves, and Others), By Industry (Gaming, Entertainment, Automotive, Retail, Healthcare, Education, Aerospace & Defense, Manufacturing, and Others), and Regional Forecast, 2021-2028

Virtual Fitting Room Market Size, Share and COVID-19 Impact Analysis, By Component (Hardware, Software, and Services), By Application (Apparel, Eyewear, Beauty & Cosmetic Products, Jewelry & Watches, and Others), By End-use (Physical Stores and Virtual Store), and Regional Forecast, 2021-2028

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. 

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. 

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

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PolyU research finds improving AI large language models helps better align with human brain activity

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May 27, 2024

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HONG KONG, May 27, 2024 /PRNewswire/ — With generative artificial intelligence (GenAI) transforming the social interaction landscape in recent years, large language models (LLMs), which use deep-learning algorithms to train GenAI platforms to process language, have been put in the spotlight. A recent study by The Hong Kong Polytechnic University (PolyU) found that LLMs perform more like the human brain when being trained in more similar ways as humans process language, which has brought important insights to brain studies and the development of AI models.

Current large language models (LLMs) mostly rely on a single type of pretraining – contextual word prediction. This simple learning strategy has achieved surprising success when combined with massive training data and model parameters, as shown by popular LLMs such as ChatGPT. Recent studies also suggest that word prediction in LLMs can serve as a plausible model for how humans process language. However, humans do not simply predict the next word but also integrate high-level information in natural language comprehension. 
A research team led by Prof. Li Ping, Dean of the Faculty of Humanities and Sin Wai Kin Foundation Professor in Humanities and Technology at PolyU, has investigated the next sentence prediction (NSP) task, which simulates one central process of discourse-level comprehension in the human brain to evaluate if a pair of sentences is coherent, into model pretraining and examined the correlation between the model’s data and brain activation. The study has been recently published in the academic journal Sciences Advances.
The research team trained two models, one with NSP enhancement and the other without, both also learned word prediction. Functional magnetic resonance imaging (fMRI) data were collected from people reading connected sentences or disconnected sentences. The research team examined how closely the patterns from each model matched up with the brain patterns from the fMRI brain data.
It was clear that training with NSP provided benefits. The model with NSP matched human brain activity in multiple areas much better than the model trained only on word prediction. Its mechanism also nicely maps onto established neural models of human discourse comprehension. The results gave new insights into how our brains process full discourse such as conversations. For example, parts of the right side of the brain, not just the left, helped understand longer discourse. The model trained with NSP could also better predict how fast someone read – showing that simulating discourse comprehension through NSP helped AI understand humans better.
Recent LLMs, including ChatGPT, have relied on vastly increasing the training data and model size to achieve better performance. Prof. Li Ping said, “There are limitations in just relying on such scaling. Advances should also be aimed at making the models more efficient, relying on less rather than more data. Our findings suggest that diverse learning tasks such as NSP can improve LLMs to be more human-like and potentially closer to human intelligence.”
He added, “More importantly, the findings show how neurocognitive researchers can leverage LLMs to study higher-level language mechanisms of our brain. They also promote interaction and collaboration between researchers in the fields of AI and neurocognition, which will lead to future studies on AI-informed brain studies as well as brain-inspired AI.”
Media ContactMs Annie WongSenior Manager, Public AffairsTel: +852 3400 3853Email: [email protected] 

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VivaTech 2024: a record-breaking event

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May 27, 2024

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PARIS, May 27, 2024 /PRNewswire/ — VivaTech 2024 broke records with more than 165,000 visitors over four days, a 10% increase over 2023. The event welcomed 13,500 start-ups, a 20% increase over the previous year.

A BUSINESS AND FINANCE ACCELERATOR
VivaTech has established itself as a key business event, generating more than 400,000 online business connections this year. Startups forged business relationships with companies from 25 sectors and met over 2,000 investors.
VIVA TECHNOLOGY CONFIRMS ITS INTERNATIONAL APPEAL
The event attracted representatives from more than 120 countries and 40 national pavilions. Japan, the country of the year, showcased its ecosystem with a ministerial delegation and more than 40 startups. Africa was also in the spotlight with the Africa Tech Lab and the AfricaTech Awards, honouring innovative startups such as Schoolz, Rology and Inclusivity Solutions.
AI AND SUSTAINABLE TECH AT THE HEART OF THE PROGRAMME
VivaTech 2024 showcased the latest advances in artificial intelligence, with nearly 40% of exhibitors dedicated to this technology. Sustainable tech was also in the spotlight, especially through the Impact Bridge, a space dedicated to initiatives for a sustainable future. VivaTech’s environmental efforts were rewarded with ISO 20-121 certification.
DIVERSITY MORE THAN EVER IN VIVATECH’S DNA 
Diversity took centre stage where over 40% of speakers were women. Among the most notable initiatives, the Female Founder Challenge rewarded Albane Dersy from Inbolt. At the same time, Femtech France took advantage of the event to launch its second Femtech industry barometer.
THE MEETING PLACE FOR REVEALS, EXCLUSIVITIES AND INNOVATIONS
For four days, VivaTech was the scene of numerous revelations, with some fifty worldwide or European exclusives unveiled. Among these, Tesla’s Cybertruck made its first appearance in France, marking a highlight of the event.
INTERNATIONAL SPEAKERS
VivaTech 2024 consolidated its position as the must-attend technology event with over 400 international speakers sharing their visions on AI and sustainable tech. Speakers included Elon Musk, John Kerry, Eric Schmidt, Arthur Mensch, Robin Li, Linda Yaccarino and Serena and Venus Williams. Institutional figures such as Fumio Kishida, Bruno Le Maire and Thierry Breton also took an active part in the debates.
WE LOOK FORWARD TO SEEING YOU FROM 11 TO 14 JUNE 2025 AT PARIS PORTE DE VERSAILLES!
Contact: [email protected]
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Only Much Louder’s AI-powered influencer marketing tech, Hypothesis, expands globally, to empower brands to connect with international creators

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May 27, 2024

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OML Entertainment’s Hypothesis is targeting the Asia–Pacific Region, Middle East, Africa, and USA by 2025.Hypothesis will open borders for brands and agencies, facilitating a region-agnostic global platformMUMBAI, India, May 27, 2024 /PRNewswire/ — Only Much Louder’s AI-powered influencer marketing tech, Hypothesis, expands its global footprint, after revolutionizing the Indian influencer market. In the first phase, Hypothesis will be available in the Asia–Pacific region (Singapore, Australia, Malaysia, Philippines, Vietnam, Thailand), Middle Eastern countries (Abu Dhabi, GCC nations, Egypt, Lebanon, Saudi Arabia, Kuwait, Qatar) as well as in Africa (Kenya, Nigeria, South Africa) and the USA.

Himani Agrawal, Senior Vice President, Hypothesis-OML, said, “At Hypothesis, we’re proud to offer a comprehensive kit for creator evaluation using 100+ data points. We provide the ultimate tool for your marketing arsenal. This is made even more convenient with our self-serve mode, empowering brands to initiate impactful influencer campaigns independently.”
Hypothesis streamlines data-driven influencer marketing globally, after recognising a critical disconnect between creator technology and services. Hypothesis was created with an inherent potential to serve a global audience, by empowering brands and agencies to transcend geographical limitations and unite discovery, outreach, and analytics in a single, user-friendly platform. This will accelerate the growth of the creator economy, creating opportunities for creators and brands.
Gunjan Arya, CEO of OML Entertainment, said, “We will be closely monitoring the milestones of Hypothesis to infiltrate the markets at the rate of 5–10% in the first year. We will also keep an eye on the acquisition rate, which is aimed to rise by 15–20%. Besides, we seek to derive over 35% of revenue from our global expansion efforts.”
With Hypothesis, OML is strategizing to expand into markets like Australia, the Asia–Pacific, the Middle East, and Africa, due to the region’s influencer marketing industry, which stands at 33.4% CAGR. Regions like the USA and the MENA have emerged as key players that are driven by advanced technologies and demand for data analytics.
Leveraging OML’s successful presence in Southeast Asia, the Middle East, Africa, and Eastern Europe, Hypothesis is set for a smooth rollout. OML’s established network, combined with their in-house expertise, will provide a strong foundation for this endeavor.
For details, visit hyp.io
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