Global Internet of Things (IoT) Market Size To Hit USD 1,842 Billion by 2028 at a 24.5% CAGR Growth (with COVID-19 Analysis): Facts & Factors

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London, United Kingdom, Jan. 13, 2022 (GLOBE NEWSWIRE) — Facts and Factors has published a new research report titled “Internet of Things (IoT) Market By Software Solution (Data Management, Security Solution, Network Bandwidth Management, Remote Monitoring System, and Real-Time Streaming Analytics), By Platform (Network Management, Application Management, and Device Management), By Service (Consulting service, Support and maintenance, Deployment and integration, Managed service, and Professional service), By Application (Smart Manufacturing, Smart Energy & Utilities, Smart Mobility & Transportation, Building & Home Automation, Smart retail, Connected Logistics, and Others), And By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2021–2028” in its research database.

“According to the latest research study, the demand of global Internet of Things (IoT) Market size & share was valued at approximately USD 310 Billion in 2020 and is expected to reach a value of around USD 1,842 Billion by 2028, at a compound annual growth rate (CAGR) of about 24.5% during the forecast period 2021-2028.”

The COVID scenario, along with the economic slump, has altered the market figures for the entire international market. An in-depth research on the primary and secondary drivers of the Internet of Things (IoT) market, as well as production figures, market share figures, leading segments figures, and regional analysis figures, is presented in this report (such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa.)

What is the Internet of Things (IoT)? How has the Internet of Things (IoT) impacted business?

  • Market Overview & Coverage:

Internet of Things (IoT) is a system of interconnected devices dedicated to performing a single or a set of functions. Networking technology connects various devices embedded via software, electronics, sensors, and wireless chips, within a system. IoT plays a vital role in building smart communication environments like smart homes, smart transportation, smart healthcare, smart shopping, and so on.

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(The free sample of this report is readily available on request).

Our Free Sample Report Includes:

  • 2021 Updated Report Introduction, Overview, and In-depth industry analysis
  • COVID-19 Pandemic Outbreak Impact Analysis Included
  • 170+ Pages Research Report (Inclusion of Updated Research)
  • Provide Chapter-wise guidance on Request
  • 2021 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
  • Includes Updated List of tables & figures
  • Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
  • Facts and Factors research methodology

(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)

Industry Major Market Players

  • General Electronics
  • Microsoft Corporation
  • Amazon Web Services
  • International Business Machine (IBM) Corporation
  • Google Inc.
  • Cisco Systems Inc.
  • Hewlett Packard Enterprise
  • SAP SE
  • Bosch Software Innovation GmBH
  • Intel Corporation
  • PTC Inc.
  • Oracle Corporation

Key questions answered in this report:

  • What is the size of the Internet of Things (IoT) market and what is its expected growth rate?
  • What are the primary driving factors that push the Internet of Things (IoT) Market forward?
  • What are the Internet of Things (IoT) Industry’s top companies?
  • What are the different categories that the Internet of Things (IoT) Market caters to?
  • What will be the fastest-growing segment or region?
  • In the value chain, what role do essential players play?
  • What is the procedure for getting a free copy of the Internet of Things (IoT) Market sample report and company profiles?

Key Offerings:

  • Market Size & Forecast by Revenue | 2021−2026
  • Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
  • Market Segmentation – A detailed analysis by Software Solution, by Platform, by Service, by Application, and by Region
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Global Internet of Things (IoT) Market: Growth Factors

  • Smart City Programs are Expected to Grow in Numbers, Spurring Market Growth

Increased demand for Internet of Things (IoT) devices is expected to increase as the globe moves towards urbanization, with an increase in the number of smart city projects and an increase in government investment in the digital network.

Global Internet of Things (IoT) Market: Report Scope

Report Attribute Details
Market Size in 2020 USD 310 Billion
Projected Market Size in 2028 USD 1,842 Billion
CAGR Growth Rate 24.5% CAGR
Base Year 2020
Forecast Years 2021-2028
Key Market Players General Electronics, Microsoft Corporation, Amazon Web Services, International Business Machine (IBM) Corporation, Google Inc., Cisco Systems Inc., Hewlett Packard Enterprise, SAP SE, Bosch Software Innovation GmBH, Intel Corporation, PTC Inc., and Oracle Corporation, and others.
Key Segment By Software Solution, By Platform, By Service, By Application, and By Region
Major Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
Purchase Options Request customized purchase options to meet your research needs. Explore purchase options

Internet of Things (IoT) Market: Segmentation Analysis

The global Internet of Things (IoT) market is segmented based on the software solution, platform, service, application, and region.

  • The “data management” category under the software solution segment to hold the major market share during 2021–2028

Nowadays, IoT is extensively used in developing a wide range of smart applications, devices, and systems such as smart lights, autonomous vehicles, smart televisions, smartphones, and wearables. Through IoT, various industries can conduct operations effortlessly and efficiently with little or no human involvement.

The IoT is pushing other industries to design systems with improved data storage, processing, and analyzing abilities to swiftly expand their businesses. The consumers will eventually go for those data management services providers that offer data storing, managing, processing, and analytical services under one platform. Therefore, the data management sector is likely to attain a huge demand in the coming few years.

  • The “smart retail” category under the application segment is likely to expand splendidly during the forecast period

The smart retail industry utilizes IoT technology solutions to organize the retailing process by significantly utilizing the available assets and slashing the operating costs. Apart from retail, the technology is widely deployed in managing inventory by eliminating theft instances due to the constant analysis of the stock. All the aforementioned features aid in fueling the demand for IoT in smart retailing.

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Regional Dominance:

  • North America is likely to attain the dominating position in the global IoT market during 2021–2028

North American countries have been considered as the globally strongest economy holders. Among all, the U.S. is billions & trillions of dollars in research & development. Therefore, the North American IoT market is likely to dominate across the globe during the forecast period.

Besides this, the rapid adoption of digitalization, the substantial increase in the demand for smart connected devices, and the rising technological advancements have further propelled the regional IoT market.

Browse the full “Internet of Things (IoT) Market By Software Solution (Data Management, Security Solution, Network Bandwidth Management, Remote Monitoring System, and Real-Time Streaming Analytics), By Platform (Network Management, Application Management, and Device Management), By Service (Consulting service, Support and maintenance, Deployment and integration, Managed service, and Professional service), By Application (Smart Manufacturing, Smart Energy & Utilities, Smart Mobility & Transportation, Building & Home Automation, Smart retail, Connected Logistics, and Others), And By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2021–2028” Report at https://www.fnfresearch.com/global-internet-of-things-iot-market-by-software-792

The global Internet of Things (IoT) market is segmented into:

Global Internet of Things Market: Software Solution Segmentation Analysis

  • Data management
  • Security solution
  • Network bandwidth management
  • Remote monitoring system
  • Real-time Streaming Analytics

Global Internet of Things Market: Platform Segmentation Analysis

  • Network management
  • Application management
  • Device management

Global Internet of Things Market: Service Segmentation Analysis

  • Consulting service
  • Support and maintenance
  • Deployment and integration
  • Managed service
  • Professional service

Global Internet of Things Market: Application Segmentation Analysis

  • Smart manufacturing
  • Smart energy and utilities
  • Smart mobility and transportation
  • Building and home automation
  • Smart retail
  • Connected logistics
  • Others

Key Insights from Primary Research

  • According to the research provided by our key respondents, the Internet of Things (IoT) industry is predicted to develop at a compound annual growth rate (CAGR) of approximately 24.5%.
  • Following the conclusion of the primary study, it was determined that the Internet of Things (IoT) market was valued at nearly USD 310 billion in 2020 and about to reach around USD 1,842 billion by 2028.
  • Based on the software solution segment, the data management to hold the major market share during 2021–2028.
  • Based on the application segment, smart retail is expected to grow at an impressive rate during the projection period.
  • On the basis of region, “North America” is expected to have a dominant position during the forecast period.

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  • Most tables and figures
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