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Smart Speaker Market to Exceed USD 100 Billion by 2032 | CAGR 25.60%

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New York, March 13, 2023 (GLOBE NEWSWIRE) — The Global Smart Speakers Market size was accounted at USD 10.8 billion in 2022. It is expected to reach USD 100 billion in the forecast period of 2023-2032 with a CAGR of 25.6%. Voice recognition with virtual assistants which is also known as smart speakers, acts as a central control hub for the variety of smart home functions with smart technology, such as entertainment, query resolutions, online surfing, and many other activities. With the increase in the popularity of smart home technology, the demand of these smart speaker devices in the homes have increased globally.

smart speaker market

Get additional highlights on major revenue-generating segments, Request a Smart Speakers Market sample report at https://market.us/report/smart-speaker-market/request-sample/

Key Takeaway:

  • By Intelligent Virtual Assistant, in 2022, the Alexa segment has generated highest revenue in Global Smart Speakers Market share in 2022.
  • By Component, the Software segment is dominating the market and it is growing at significant rate over the forecast period 2023 to 2032.
  • In 2022, North-America Region dominated the market with the highest revenue share of 36.4%.
  • APAC Region has held second Position in revenue share in 2022.
  • Europe will grow at a significant rate from 2023-2032.

In the forecasted period, demand for the smart speaker product is expected to increase due to the growing demand for the speaker systems in residential applications. A few of the important factors forecasted to provide market opportunities to the major competitors includes the development of artificial intelligence, the proliferation of smart home products, and the expansion of display-based technologies.

Additionally, major market players are trying to expand their business divisions globally. In addition, the COVID-19 pandemic has increased the demand for the smart speakers across the globe. Developments in AI technology are leading to an increase in virtual assistants such as Deep neural networks, machine learning, and others.

Factors affecting the growth of Smart Speakers industry

There are several factors that can affect the growth of the Smart Speakers industry. Some of these factors include:

  • Increasing Demand: The demand for smart speakers has been increasing with the increasing popularity of voice-based user interfaces. This has driven the growth of the industry.
  • New Technologies: The emergence of new technologies such as artificial intelligence (AI) and natural language processing (NLP) has enabled smart speakers to offer more sophisticated functionalities and features, thus driving the growth of the industry.
  • Innovation: The industry is witnessing rapid innovation with the introduction of new features and functionalities. This has increased the demand for smart speakers, thus driving the growth of the industry.
  • Low Prices: The prices of smart speakers have significantly decreased in recent years, making them more affordable to a larger audience. This has further driven the growth of the industry.
  • Growing Competitors: With the emergence of new players in the market, the competition has increased, which has further propelled the growth of the industry.
  • Growing Adoption: The growing adoption of smart speakers across various sectors such as hospitality, education, and healthcare is further driving the growth of the industry.

To understand how our Smart Speaker Market report can bring a difference to your business strategy, Inquire about a brochure at https://market.us/report/smart-speaker-market/#inquiry

Top Trends in Smart Speaker Market

An artificial intelligence called as NLP that allows the customer to give a command to the smart speaker. AI gives more advantages in making conversational capabilities with natural processing language. The market growth is supported by these advanced technologies.

Product innovation and differentiation are the main focus of the Smart speaker manufacturers as they are steadily moving toward consolidation through joint ventures, mergers & acquisitions, and collaborative partnerships. Such trends which are witnessed in the market are boosting the demand for the smart speakers and eventually driving the market growth.

Market Growth

Adoption of smart home devices by the consumers which includes, security cameras, smart lights, smart kitchen appliances, smart locks, thermostats, and smart TVs. All the smart devices can be easily controlled and operated remotely by this type of speaker which acts as a single point of control and contact hub.

For example, Xiaomi is developing an Artificial Intelligence of Things which is also called as AIoT system with the help of a control hub which is a speaker that would help in connecting its other IoT products.

Regional Analysis

North America region dominates the smart speaker market with a share of 36.4%. North America has a strong presence of early suppliers and adopters of major smart speakers in terms of revenue and market owing. The accessibility of customers to new technologies is also encouraging the manufacturers to develop new and advanced products in the region. However, APAC region is expected to surpass North-America and become the largest and most profitable market by 2025.

Asia Pacific is expected to dominate the market at a significant rate for the forecasted period. India, Japan and China are the three most important countries of APAC. Countries like Japan and China have different manufacturers of smart speakers. The increasing adoption of smart homes with smart devices is driving the growth of the market. Additionally, smart city projects going on in the countries like India and China are going to be the drivers of market growth.

Competitive Landscape

By launching new products in the market and reducing the prices of the old products in the market, is the strategy used by Amazon. Amazon shares major market size with the market share of 22.5% of the smart speaker’s market size. Amazon has been coming up with a variety of products for smart speakers to attract customers like echo, Alexa, and other products.

Amazon have been a trendsetter in the market, and it is leading in innovation and technology. Amazon has collaborated with companies such as BMW and Microsoft for the growth of the smart speaker market. Major market players are developing speakers with the functions like AI and more functions. Moreover, increasing competition in the market forces major market players to focus on acquisition strategies to consolidate their positions.

Scope of the Report

Report Attribute Details
Market Value (2022) USD 10.8 Billion
Market Size (2032) USD 100 Billion
CAGR (from 2023 to 2032) 25.60%
North America Revenue Share 36.4%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

The main factors which is supporting the growth of the smart speaker market is the rise in the manufacturing of the electronics and the growing demand for wireless connectivity. In technologically advanced countries, Smart speakers with local voice support have a high demand and huge growth potential.

With increasing technology such as social networking, speed internet, online content streaming, and video calling capabilities, major market players are increasingly shifting to display their base devices. These products work on intelligent voice assistance and are regularly updated and improved in response to customer feedback.

With homeowner’s need for a convenient and comfortable lifestyle, smart home connected solutions demand are raising rapidly. With internet connectivity and the ability to control the household products through their mobile devices, consumer interest is shifting to smart products. With all the advantages, people in both technologically advanced and emerging regions are rapidly switching to smart speakers. Due to the growth and demand of the smart homes devices there is a rise in the smart speakers with AI in the forecasted period.

Market Restraints

The Use of Voice assistant-capable smart speakers has increased due to Smart homes with integrated user personal data. One of the main worries of the users of smart speakers is the unintentional activation of smart speakers by voice commands encoded in the websites or television advertising.

Most of the smart speakers have the ability to connect to any local network and any other device on that network, which changes the smart speaker’s settings or conducting a factory reset without the user’s permission. To avoid such hazards, a secure local network and a strong account password are required. Additionally, smart speakers are connected to other smart devices which are usable by other people, such as smartphones, smart locks, TVs, and radios.

Some smart speakers allows voice purchasing on the device, so someone else can utilize assistance to place an online item which can result in loss. A smart speaker can also be activated with a one-click order if it is connected to an Amazon Prime account. Users must therefore safeguard their settings and keep an eye on their notifications.

Market Opportunities

With the increasing customers and growing market, spending on the technologically advanced or smart consumer electronic devices which are easy to carry, portable, easy to handle, and well-built quality has forced the manufacturers to include te feature of voice assistance and voice commands in the speakers. There has been enormous demand for multifunctional, high-speed, easy-to-use smart speakers.

The development of wireless 5G infrastructure and development in natural language processing which is also called as NLP has opened many doors in the developing nations globally. NLP is an artificial intelligence that allows the customer to give a command to the smart speaker.

Grow your profit margin with Market.us – Purchase This Premium Smart Speaker Market Report at https://market.us/purchase-report/?report_id=51895

Report Segmentation of the Smart Speaker Market

Intelligent Virtual Assistant Insight

Based on IVA, the global smart speaker market is segmented into Alexa, Siri, DuerOS, Google Assistant, Ali Genie, Cortana, and others. Alexa segment dominates the market globally.

Alexa-enabled speakers are making a big contribution to the market due to its range of smart speakers and smart devices available and the compelling features alexa offers.

Siri from Apple is largely used by a wide audience of younger age groups, with 60% of those between 18 and 24 who are using it. On the other side, voice assistant users who are 35 and older are far more likely to utilize Alexa.

Component Insight

The software segment has a competitive advantage over the hardware segment. The software segment dominates the market and shares a major market size than the hardware segment due to Google, Amazon, Apple, and Others by offering regular updates to the customers, which helps the software segment of the smart speaker to take an edge ahead of the hardware segment.

Echo, Dot, Amazon Smart Plug, and Echo Auto are different software versions of Alexa devices. The cheaper version of the Amazon Echo speaker is also called 2022’s best and smartest version of the speaker. The market for the Hardware segment falls short of competing with the software segment due to the decrease in the demand for hardware components which are processors, memory, mic, and others. Rather than buying hardware components of the smart speaker, customers go with buying a new one.

Application Insights.

Depending on the application segments, the Smart Home segment dominates the market growth globally. According to the data of the year 2022, smart homes have 102.5 million new users worldwide. The number is much more higher than the smart office, which is the reason for the smart homes dominating the growth of the market globally.

Some of the smart home gadgets such as smart appliances, security cameras, smart locks, smart lighting, and smart TVs are becoming popular among the consumers day by day.

Recent Development of the Smart Speaker Market

  • In May 2022, Apple announced that it plans to launch a new version of its HomePod smart speaker in late 2022 or early 2023. In July 2022, Xiaomi launched its second-ever smart speaker.
  • In 2020 – Xiaomi introduced its first smart speaker in the market with Google Assistant. This technology can converse in Hindi and English. In July 2022, Xiaomi launched its second-ever smart speaker with big upgrades to the previous version.

For more insights on the historical and Forecast smart apeaker market data from 2016 to 2032 – download a sample report at https://market.us/report/smart-speaker-market/request-sample/

Market Segmentation

By IVA

  • Siri
  • Alexa
  • Google
  • Assistant
  • DuerOS
  • Cortana
  • Ali Genie
  • Others

By Components

  • Hardware
  • Software

By Application

  • Smart Home
  • Smart Office
  • Consumers

By Geography

  • North America
  • Canada
  • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Key Market Players

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Artificial Intelligence

AI in Healthcare: Unveiling the Future with a 42.20% CAGR Through 2029

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USA News Group Commentary
VANCOUVER, BC, April 25, 2024 /PRNewswire/ — Across several sectors the use of artificial intelligence (AI) is making a huge impact, with healthcare emerging as possibly receiving the largest boost. According to a new research report from analysts at Mordor Intelligence, the market for artificial intelligence in health care is set to explode at a CAGR of 42.20% through 2029. As the tech sector races to provide the market with solutions, several companies are emerging as leaders in aiding the healthcare sector, including Avant Technologies Inc. (OTC:AVAI), Microsoft Corporation (NASDAQ:MSFT) (NEO:MSFT), Health Catalyst, Inc. (NASDAQ:HCAT), Ginkgo Bioworks Holdings, Inc. (NYSE:DNA), and Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX).

Recently, Avant Technologies Inc. (OTC:AVAI) strengthened its AI-powered healthcare offerings by acquiring Wired-4-Health, a company specializing in healthcare technology and data services. This addition supports Avant’s goal to create the first supercomputing network in the country. This network will offer big data and AI software companies a quicker, more potent, and more affordable computing infrastructure.
“Our strategy behind this acquisition was to enable Avant to deliver best-in-class data and system interoperability support services to the healthcare and life sciences sectors powered by AvantAI® and our high-density compute capabilities,” said Tim Lantz, CEO of Avant Technologies. “At the same time, this exciting combination significantly strengthens our financial profile, offers massive commercial growth opportunities in one of Avant’s largest target markets, and bolsters our internal customer support and R&D capabilities.”
The goal of this deal is to bring together Avant Technologies and Wired-4-Health to improve how healthcare data is shared and used. By joining forces, they can use advanced AI and powerful computing to help healthcare and life sciences organizations deal with data and system challenges more easily and effectively.
This partnership improves the way transactions are processed, analyzes health outcomes, and ensures compliance, leading to better performance, more reliable data, and a more affordable, scalable system for customers.
“In the near term, if the healthcare industry expects to succeed in lowering costs while improving quality, the deployment of advanced AI, combined with more powerful, cost- effective compute capabilities will be critical to that success,” said Angela Harris, Avant’s Chief Operating Officer. “The addition of Wired-4-Health will position Avant as a key contributor in helping healthcare organizations solve complex problems at the intersection of cost, quality, compliance and technology.”
Tech giant Microsoft Corporation (NASDAQ:MSFT) (NEO:MSFT) has also been aiding the healthcare sector, most notably with its Azure AI Health Bot, which helps create copilot experiences with healthcare safeguards. Microsoft is enhancing its Azure AI Health Bot services by adding new healthcare-specific safeguards and features, including integration with Microsoft Copilot Studio.
These upgrades allow healthcare organizations to create their own copilot experiences, with pre-built capabilities, templates, and connectors tailored to healthcare needs, supporting protocol-based workflows alongside AI-based answers, and ensuring compliance with industry standards and guidelines. Now the platform is already being put into use by big players, including by German pharma giant Roche.
“By leveraging Azure AI Health Bot to build copilot experiences for doctors, we are developing an intuitive, conversational interface that lets clinicians access and explore Roche’s clinical documentations in a more natural way and to cope with the complexity and flood of information,” said Dr. Georg Isbary of Roche Pharma Germany. “The pilot for this new user experience, powered by generative AI features and compliant with the necessary security standards, has been integrated into our systems and will be further tailored to regional market needs.”
Long-time developer in the AI and machine learning (ML) space for healthcare, Health Catalyst, Inc. (NASDAQ:HCAT) signed a multi-year partnership with SacValley MedShare, one of California’s largest and most established qualified health information organization, earlier this year. As per the deal, Health Catalyst will support SacValley’s important mission through a broad set of technology solutions, including KPI Ninja by Health Catalyst, Healthcare.AI – a Health Catalyst Data Operating System (DOSTM) Platform module, and several other application solutions and Professional Services.
“We are honored to partner with SacValley MedShare on their continued journey to advance healthcare and are confident our technology, combined with our dedicated, skilled team members, will deliver the improved efficiency and support SacValley MedShare needs to achieve its healthcare transformation goals,” said Dan Burton, CEO of Health Catalyst.
By choosing Health Catalyst’s advanced data and analytics services, SacValley will enhance its ability to share and use information. This will lead to better service for those paying for healthcare, by making it easier to share important health details. This helps in delivering top-notch reports and care for patients.
“Transforming data from movable to usable is the alchemy of insights, turning raw potential into the gold of informed decision-making, ultimately forging a path towards health equity and improved outcomes,” said John Helvey, Executive Director of SacValley MedShare. “This is the primary reason SVMS chose Health Catalyst as a transforming partner.”
Another AI player is Ginkgo Bioworks Holdings, Inc. (NYSE:DNA), which is making it easier and cheaper for other biopharma companies to produce important biological materials and organisms by using artificial intelligence (AI). Back in February 2024, Ginkgo announced the acquisition of key assets of Reverie Labs, which has built and used AI/ML tools to accelerate drug discovery. The acquisition of Reverie’s infrastructure and software serves to help train large-scale AI foundation models, while four of Reverie’s key AI team members will also be joining Ginkgo.
Gingko followed this up through a collaboration with UK-based biotech company Prozomix, to build out the production of next generation enzyme plates for active pharmaceutical ingredient (API) manufacturing. The agreement aims to leverage Gingko’s Enzyme Services and industry-leading AI/ML models along with Prozomix’s existing enzyme libraries and deep experience manufacturing enzyme plates.
“API manufacturing is poised to greatly benefit from the latest in enzyme engineering and AI/ML enzyme models,” said Cindy Chang, Senior Director, Business Development at Ginkgo Bioworks. “We are so excited to partner with Prozomix to get enzymes into as many API routes as possible and help partners meet both their COGs savings and sustainability goals.”
Another developer helping to lead the way in AI-powered healthcare is Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX), which uses AI to pick out which treatments should be tested in clinical trials, while also letting biopharma companies to use their AI tools to do so also.
Last year, Recursion lined up a $50-million collaboration with AI chipmaking giant Nvidia for AI drug discovery. Then at the beginning of 2024, Recursion presented a demonstration of LOWE (Large Language Model-Orchestrated Workflow Engine), a new software designed to perform complex drug discovery tasks using a natural language interface. The platform is powered by Recursion’s proprietary biological and chemical data, and can orchestrate experiments using Recursion’s automated wet laboratories, unleashing the power of the Recursion Operating System in an easy-to-use tool.
“For the first time, we’ve taught Large Language Models to use many of Recursion’s tools and data in the same way an expert scientist would, but much more simply and in a more scalable way,” said Chris Gibson, Ph.D., Co-founder and CEO of Recursion. “LOWE provides an exciting glimpse into what we believe the future of drug discovery will look like – a first step towards the development of autonomous ‘AI scientists’ for therapeutic discovery.”
Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
CONTACT:USA News [email protected]
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Avant Technologies Inc. advertising and digital media from the company directly. There may be 3rd parties who may have shares Avant Technologies Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Avant Technologies Inc. which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Avant Technologies Inc. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

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Artificial Intelligence

Oncolytics Biotech® Announces Upcoming Presentations at the American Society of Clinical Oncology Annual Meeting

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SAN DIEGO and CALGARY, AB, April 25, 2024 /PRNewswire/ — Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC), a leading clinical-stage company specializing in immunotherapy for oncology, today announced the acceptance of two abstracts at the 2024 American Society of Clinical Oncology (ASCO) Annual Meeting, which is taking place from May 31 – June 4, 2024, in Chicago, Illinois. Details on the abstracts and poster presentation are shown below.

Title: Phase 1/2 randomized, open-label, multicenter, Simon two-stage study of pelareorep combined with modified FOLFIRINOX +/- atezolizumab in patients with metastatic pancreatic ductal adenocarcinoma.
Presentation Type: PosterAbstract Number: TPS4203Session Title: Gastrointestinal Cancer – Gastroesophageal, Pancreatic, and HepatobiliarySession Date and Time: June 1, 2024, 1:30 – 4:30 p.m. CTTitle: Pelareorep driven blood TIL expansion in patients with pancreatic, breast and colon cancer.Presentation Type: Online abstractAbstract Number: e14625
Abstracts will be published on the ASCO Annual Meeting website at 5:00 p.m. ET on May 23, 2024.
About Oncolytics Biotech Inc.
Oncolytics is a clinical-stage biotechnology company developing pelareorep, an intravenously delivered immunotherapeutic agent. Pelareorep has demonstrated promising results in two randomized Phase 2 studies in metastatic breast cancer and Phase 1 and 2 studies in pancreatic cancer. It acts by inducing anti-cancer immune responses and promotes an inflamed tumor phenotype — turning “cold” tumors “hot” — through innate and adaptive immune responses to treat a variety of cancers.
Pelareorep has demonstrated synergies with multiple approved oncology treatments. Oncolytics is currently conducting and planning combination clinical trials with pelareorep in solid and hematological malignancies as it advances towards registrational studies in metastatic breast cancer and pancreatic cancer, both of which have received Fast Track designation from the FDA. For further information, please visit: www.oncolyticsbiotech.com or follow the company on social media on LinkedIn and on X @oncolytics.
 
Company Contact
Jon Patton
Director of IR & Communication
[email protected]
 
Investor Relations for Oncolytics
Timothy McCarthy
LifeSci Advisors
+1-917-679-9282
[email protected]
 
 

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Artificial Intelligence

Internet of Things (IoT) Market to Expand at a Stellar 19.4% CAGR through 2031 | SkyQuest Technology

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WESTFORD, Mass., April 25, 2024 /PRNewswire/ — SkyQuest projects that the Internet of Things (IoT) Market will attain a value of USD 1572.37 billion by 2031, with a CAGR of 19.4% over the forecast period (2024-2031). Internet of Things (IoT) refers to the network of connected devices over the internet that are embedded with sensors and software. Growing adoption of automation around the world and advancements in connected device technologies are forecasted to be key factors driving the Internet of Things (IoT) market growth in the future.

Download a detailed overview:
https://www.skyquestt.com/report/internet-of-things-market
Browse in-depth TOC on “Internet of Things (IoT) Market”
Pages – 197Tables – 69Figures – 75Internet of Things (IoT) Market Overview:
Report Coverage
Details
Market Revenue in 2023
$ 380.6 billion
Estimated Value by 2031
$1572.37 billion
Growth Rate
Poised to grow at a CAGR of 19.4%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Component Type, Application, and Region
Geographies Covered
North America, Europe, Asia Pacific, and the Rest of the world
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Rising demand for connected healthcare and growing use of industrial automation solutions
Key Market Drivers
Advancements in connectivity and connected device technologies
 
 
Hardware is Estimated to Dominate the Global Market Share Owing to High Use of Hardware Components in IoT
Hardware components such as sensors and actuators are highly vital to the proper functioning of any kind of Internet of Things (IoT) device. Growing adoption of IoT devices in different industry verticals for various applications is promoting market growth via this segment. The development of new hardware solutions also helps this segment maintain its dominance.
Smart Agriculture is the Fastest-growing Segment Owing to Rising Adoption of Precision Agriculture Practice
Rising emphasis on improving agricultural yield and sustainability has resulted in the growing adoption of smart agriculture and precision agriculture practices. IoT devices play a crucial role in monitoring and controlling different elements of a smart agriculture setup that is mostly automated using different smart devices thereby contributing to the IoT market growth as well.
Growing Adoption of 5G Technology Allowing North America to Dominate the Global Internet of Things (IoT) Market
Rapid adoption of 5G technology and high use of cloud-based platforms are key factors allowing North America to lead the demand for Internet of Things (IoT) around the world. Surging investments in the research and development of advanced technologies and the presence of key tech giants such as Amazon, Google, IBM, and Microsoft also helps the dominance of this region. Canada and the United States remain the most lucrative markets for Internet of Things (IoT) companies in North America through 2031.
Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/internet-of-things-market
Internet of Things (IoT) Market Insights:
Drivers
Advancements in connectivity and connected device technologies.Growing demand for Industrial IoT (IIoT) solutions.Increasing number of smart cities and development of smart infrastructure.Restraints
Lack of standardization of IoT devices and technologies.Privacy and data security issues.Interoperability challenges and complex integration scenarios.Prominent Players in Internet of Things (IoT) Market
MicrosoftCisco SystemsIntelSiemens (Germany)AWS (US)Oracle (US)Qualcomm (UK)SAP (Germany)IBM (US)Google (US)View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/internet-of-things-market
Key Questions Answered in Internet of Things (IoT) Market Report
What are the top drivers for Internet of Things (IoT) market going forward?Who are the leading Internet of Things (IoT) market players?Where will demand for Internet of Things (IoT) be high?Which component accounts for a dominant revenue share of the global Internet of Things (IoT) market?This report provides the following insights:
Analysis of key drivers (advancements in connectivity and connected device technologies, growing demand for industrial IoT (IIoT), development of smart infrastructure for smart cities, growing use of smart devices ), restraints (lack of standardization, complexities in integration, concerns regarding security and privacy of data), and opportunities (rising popularity of connected healthcare, increasing adoption of Industry 4.0, rising use of industrial automation), influencing the growth of Internet of Things (IoT) market.Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Internet of Things (IoT) market.Market Development: Detailed analysis of potential regions where the market has potential to grow.Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.Related Reports:
Global Internet of Things in Retail Market
Global Internet of Things (IoT) in Agriculture Market
Global Internet of Things (IoT) Microcontroller Market
Global IOT In Healthcare Market
Global IOT in Manufacturing Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific. 
Contact:
Mr. Jagraj Singh Skyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/

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