Artificial Intelligence
Enterprise IoT Market Continues to Thrive, Reaching USD 1,819.2 Bn by 2032 with North America Being the Dominant Region | Market.us Study
<!– Name:DistributionId Value:8811947 –> <!– Name:EnableQuoteCarouselOnPnr Value:False –> <!– Name:IcbCode Value:2790 –> <!– Name:CustomerId Value:1269133 –> <!– Name:HasMediaSnippet Value:false –> <!– Name:AnalyticsTrackingId Value:e7b26563-245d-4497-85f2-f21ca1f6d330 –>
New York, April 20, 2023 (GLOBE NEWSWIRE) — The Global Enterprise IoT Market size is expected to be worth around USD 1,819.2 Bn by 2032 from USD 529.3 Bn in 2022, growing at a CAGR of 13.5% during the forecast period from 2022 to 2032. This sector of IT is growing rapidly, offering a range of technologies and solutions designed to increase efficiency and sustainability across various business operations. Market growth is predicted to be spurred on by developments such as Wi-Fi/Insteon, Bluetooth, and ZigBee.
In February 2022, AT&T and IBM Corporation joined forces to explore the digital transformation opportunities presented by 5G technology, edge computing, and wireless networking. This partnership seeks to create an encouraging atmosphere for clients in the industry by giving them access to AT technology and hybrid cloud physical. Enterprise IoT can also help reduce costs, boost employee proficiency, and enhance energy efficiency. IoT innovations are being utilized across various sectors such as manufacturing, agriculture, utilities, BFSI, including inventory.
Get additional highlights on major revenue-generating segments, Request an Enterprise IoT Market sample report at https://market.us/report/enterprise-iot-market/request-sample/
Key Takeaway:
- Based on the offering, in 2022, the enterprise IoT market was dominated by the hardware segment owing to its increasing requirement and control over IoT devices.
- By enterprise size, in 2022, the small & medium-sized enterprise segment dominated the largest market share in the enterprise size segment.
- Based on end-user, the manufacturing segment holds a significant share of the end-user segment in 2022.
- In 2022, North America dominated the market with the highest revenue share of 36.3%.
- APAC is expected to have the highest CAGR among all regions, owing to the development of IT infrastructure, adoption of new technologies, and increasing government initiatives.
Factors affecting the growth of the Enterprise IoT Market?
Several factors can have an impact on the growth of the enterprise IoT market, including:
- Advancement in technology: As technology continues to upgrade, the enterprise IoT industry is benefiting from the advances in technology such as powerful & cost-effective sensors, wireless communication technologies, and processors.
- Increasing demand for data analytics: Real-time data analytics and insights is drives the adoption of enterprise IoT solutions. Companies are looking for leveraging IoT technologies for gaining a competitive advantage by using data to make decisions.
- Rise of Industry 4.0: The fourth industrial revolution is characterized by the integration of advanced technologies like AI, robotics, and IoT into manufacturing processes. Industry 4.0 continues to grow, and the demand for enterprise IoT solutions is expected to grow.
- Security and privacy concerns: Security and privacy are significant concerns for enterprise IoT solutions. Companies need to ensure that their IoT devices and networks are secure from cyber-attacks and data breaches.
- Regulatory and compliance requirements: Regulation and compliance obligations can also impact the adoption of enterprise IoT solutions. Companies must abide by data protection laws and other regulations when utilizing this cutting-edge technology.
To understand how our report can bring a difference to your business strategy, Inquire about a brochure at https://market.us/report/enterprise-iot-market/#inquiry
Top Trends in Enterprise IoT Market
The latest trends in the enterprise IoT Market include the increasing use of IoT for industrial applications. IoT is being adopted mostly in the industrial sector where it can be used to improve production processes, supply chain management, and lower maintenance costs. Edge computing is becoming a major technology within the enterprise IoT Market. AI ML is seeing a lot of growth as it integrates with IoT systems, which allows for real-time data analysis and predictive maintenance.
Market Growth
The enterprise IoT market’s growth can be attributed to several factors, such as the demand for real-time analytics and insights, cost-effective business operations, and Industry 4.0’s increasing popularity. Furthermore, cloud computing, machine learning (ML), and artificial intelligence (AI) are driving this sector along. Technological advances, an increased need for data analytics, industry 4.0, and other factors will continue fuelling its expansion over the coming years. The enterprise IoT market has experienced remarkable success recently and will likely keep growing at this rate over the coming years.
Regional Analysis
North America is accounted as the most dominant market in the global Enterprise IoT market with a market share of 36.3%, during the forecasted period. The early adoption of technologies like big data, ML, AI, IoT, cloud, and mobility in the region is expected to fuel market growth. Additionally, businesses in the region are eager to incorporate IoT technologies into their processes in order to improve operational efficiency. The U.S. government is working for increasing technology adoption, thereby increasing the region’s market share.
Have Queries? Speak to an expert or Click Here To Download/Request a Sample
Scope of Report
| Report Attribute | Details |
| Market Value (2022) | USD 529.3 Billion |
| Market Size (2032) | USD 1819.2 Billion |
| CAGR (from 2023 to 2032) | 13.5% |
| North America Revenue Share | 36.3% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
Due to an increasing focus on digital transformation across various industries, the enterprise IoT market has experienced rapid growth. This expansion is expected to be fuelled by demand for IoT solutions in advanced fields like AI, ML & big data. IoT solutions provide businesses with real-time information about asset status and locations that can be utilized for tracking & optimization. In doing so, IoT helps businesses boost productivity levels. IoT automates routine tasks and allows remote control & monitoring, providing cost-saving benefits by cutting operational expenses. By streamlining processes, new revenue streams can be created through new services or business models such as pay-per-use. Comply with regulatory requirements by offering real-time monitoring & reporting capabilities. IoT solutions that utilize data analytics can generate a lot of information that businesses can use to gain valuable insights and make better business decisions.
Market Restraints
Due to the vast selection of IoT products and platforms available, companies may face difficulties ensuring their solutions are compatible with other platforms and devices. Implementing and managing such solutions necessitates technical proficiency; additionally, devices may collect vast amounts of data which could raise privacy issues. Moreover, these solutions tend to be cost-effective to set up and run for small businesses; hence, companies should ensure their IoT offerings offer clear value propositions to customers in order to justify investment in such technology.
Market Opportunities
IoT devices are utilized to automate industrial processes, such as monitoring equipment performance, optimizing energy usage, and enhancing safety. Industrial automation through IoT solutions presents an enormous growth opportunity. Implementing IoT technology in cities can enhance infrastructure management and public safety while decreasing congestion. Smart cities that utilize IoT solutions are becoming a huge market. Furthermore, these devices have the potential to monitor patient health and manage chronic conditions. They can also be utilized to monitor medication compliance. IoT devices are beneficial in monitoring crop health, fertilizing, optimizing irrigation, and reducing waste; agriculture companies that offer IoT solutions will be able to meet the increasing demand. IoT solutions also enable inventory tracking, improved customer experience, and managed supply chains; businesses providing these solutions may help retail meet real-time data analytics demands.
Grow your profit margin with Market.us – Purchase This Premium Report at https://market.us/purchase-report/?report_id=100006
Report Segmentation of the Enterprise IoT Market
Offering Insight
The hardware segment dominated the market share with 66.4% in 2022, driven by an increasing need for continuous access & control over IoT devices – this demand is predicted to fuel the segment’s growth over the forecasted period. The increasing adoption of professional IoT services among enterprises, such as deployment and integration services, support/maintenance services, and consulting services, is one of the primary factors driving the market growth.
Enterprise Type Insight
Enterprise IoT market share is dominated by small & medium-sized enterprises with a share of 63.8%, due to government initiatives for helping these businesses expand digitally. Governments are investing heavily in IoT projects across various fields such as infrastructure and defense which is expected to drive market growth over the coming years. IoT service providers are striving to enhance products and services through enhanced offerings like business process integration and service management, which should ultimately benefit the enterprise IoT industry in the long run.
End-Use Insight
Enterprise IoT market share will remain dominant in 2022, with manufacturing accounting for 36.4% of revenue share due to the rise of the Industry 4.0 concept that drives enterprise IoT manufacturing applications. Through a combination of cyber-physical systems, the Internet of Services, and IoT we are creating smart factories which operate at full capacity while minimizing waste production.
Recent Developments of the Enterprise IoT Market
- In 2022, The rise of 5G technology is the first development we can talk about. 5G networks at the forefront of the development of cellular mobile communications. The recent development will ensure that their spread will mean much more than just a faster internet connection.
- In 2022, Edge computing which is just like the opposite of cloud computing technology gained so much prominence just in the last five years. Edge computing means that data is stored in micro-centers as opposed to the cloud, providing numerous new options for the IoT.
- In 2021, The enterprise IoT market continued to grow with a focus on edge computing and the development of 5G networks. Edge computing allows for real-time data processing and analytics, enabling enterprises to make quick decisions and respond to critical events in real-time.
For more insights on the historical and Forecast market data from 2016 to 2032 – download a sample report at https://market.us/report/enterprise-iot-market/request-sample/
Key Market Segments:
Based on Offering
- Hardware
- Software & Solutions
- Surveillance & Security
- Network & Connectivity Management
- Data Management
- Application Management
- Device Management
- Services
Based on Enterprise Size
- Small & Medium Sized Enterprise
- Large Enterprise
Based on End-User
- Manufacturing
- Oil & Gas
- Utilities
- Transport
- BFSI
- IT & Telecomm
- Healthcare
- Other End-Users
By Geography
- North America
-
- The US
- 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
Competitive Landscape
The enterprise IoT market has a few key players with subsidiaries in the same industry. The number of small and medium players in the market is low as the market has a high entry barrier. Technological developments are a key driving factor of the market which creates a differentiating factor between new entrants and existing ones.
Listed below are some of the most important enterprise IoT industry players.
Key Market Players:
Browse More Related Reports:
- IoT Microcontroller Market size is expected to be worth around USD 17.39 billion by 2032 from USD 5.70 billion in 2023, growing at a CAGR of 11.80% during the forecast period from 2023 to 2032.
- IoT device management market was valued at USD 1.58 billion in 2021. It is projected to reach USD 31.33 billion at a CAGR of 31.2% between 2023 and 2032.
- Healthcare Internet of Things (IoT) security market is projected to reach a valuation of USD 36269.26 Mn by 2032 at a CAGR of 36% from USD 1675.52 Mn in 2022.
- Cellular IoT market was worth USD 1,935.3 million in 2021. This market is expected to grow at a CAGR of 21.4% over the forecast period.
- Edge computing market size is expected to be worth around USD 206 bn by 2032 from USD 40 billion in 2022, growing at a CAGR of 18.3%.
- Industrial Internet-of-Things Market size is expected to be worth around USD 1,917.45 billion by 2032 from USD 263.50 billion in 2022, growing at a CAGR of 22.00% during the forecast period from 2022 to 2032.
About Us:
Market.US (Powered by Prudour Pvt Ltd) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report-providing firm. Market.US provides customization to suit any specific or unique requirement and tailor-makes reports as per request. We go beyond boundaries to take analytics, analysis, study, and outlook to newer heights and broader horizons.
Follow Us On LinkedIn Facebook Twitter
Our Blog:
Artificial Intelligence
JupiterOne and watchTowr announce partnership to protect business critical assets with broad exposure management capabilities
SINGAPORE, May 2, 2024 /PRNewswire/ — watchTowr, a leader in external attack surface management (EASM) technology and fuelled by watchTowr Labs, a renowned vulnerability R&D capability, has formed a strategic partnership with JupiterOne. JupiterOne is a leader in cyber asset attack surface management (CAASM) technology. This collaboration enables customers to rapidly prioritize emerging threats within their constantly changing environments, focusing on fixing the most critical risks impacting their business, which enables an end-to-end continuous threat exposure management process (CTEM).
Over 28,000 CVE records were published in 2023; a figure that is expected to increase as attackers shorten the time from known vulnerability to exploit, reducing it from weeks to days. JupiterOne and watchTowr’s integrated solution empowers enterprises to discover their most critical and exploitable vulnerabilities, prioritize them with asset context based on business impact and receive an actionable remediation plan to improve security posture.
This partnership enables a complete continuous threat exposure management program, addressing the full spectrum of cyber risk management. The fully integrated solution provides continuous monitoring and assessment of both internal and external digital assets, allowing for prioritization and effective threat mitigation for a business’s most critical assets. “Our partnership with watchTowr is a game-changer” said Forte. “Combining our data aggregation with real-time asset discovery and automated security testing allows us to offer a unique, all-encompassing approach to exposure management.”
Benjamin Harris, CEO, watchTowr, said, “While the number of reported vulnerabilities continues to rise, the vulnerabilities that matter – in mission-critical, key systems – have exploded at an alarming rate. This reality, combined with the significant shift in speed by attackers to weaponize vulnerabilities – the ability to validate exploitability and prioritise actions based on real business risk has never been more vital. We’re excited to join forces with JupiterOne to give security teams around the globe this much-needed end-to-end capability.”
About JupiterOne:
JupiterOne is a cybersecurity startup delivering powerful software solutions to companies across all industries, providing deep insights to cyber assets and the relationships between, empowering security professionals to have true knowledge and ownership of their attack surfaces.
About watchTowr:
watchTowr is a global cybersecurity technology company, built by former adversaries.
watchTowr’s world-class External Attack Surface Management and Continuous Automated Red Teaming technology is informed by years of experience compromising some of the world’s most targeted organisations and utilised by Fortune 500, financial services and critical infrastructure providers every day.
Photo – https://mma.prnewswire.com/media/2401497/watchTowr_JupiterOne.jpg
View original content:https://www.prnewswire.co.uk/news-releases/jupiterone-and-watchtowr-announce-partnership-to-protect-business-critical-assets-with-broad-exposure-management-capabilities-302132392.html
LONDON, May 1, 2024 /PRNewswire/ — Clarivate Plc (NYSE: CLVT; CLVT PR A) (“Clarivate”), a leading global provider of transformative intelligence, today announced that its board of directors declared a quarterly dividend of $1.3125 per share on its 5.25% Series A Mandatory Convertible Preferred Shares (the “Preferred Shares”), payable in cash on June 3, 2024 to shareholders of record at the close of business on May 15, 2024.
On the mandatory conversion date, which is scheduled to occur on June 3, 2024, each Preferred Share will automatically and mandatorily convert into a number of ordinary shares of Clarivate (and cash in lieu of any fractional ordinary shares) based on the average volume weighted average price (“VWAP”) of Clarivate’s ordinary shares over a 30-trading day period that begins on, and includes, April 18, 2024 and is scheduled to end on, and include, May 30, 2024 (the “valuation period”). If such VWAP is (i) greater than $31.20, then the mandatory conversion rate will be 3.2052 ordinary shares of Clarivate per Preferred Share, (ii) less than or equal to $31.20 but equal to or greater than $26.00, then the mandatory conversion rate will be a number of ordinary shares of Clarivate per Preferred Share equal to $100.00 divided by such VWAP and (iii) less than $26.00, then the mandatory conversion rate will be 3.8462 ordinary shares of Clarivate per Preferred Share. The mandatory conversion rate will be announced following the end of the valuation period. The above description of the terms of the Preferred Shares is not complete and is subject to, and qualified in its entirety by reference to, the “Statement of Rights” for the Preferred Shares, which is filed as Exhibit 3.2 to Clarivate’s annual report on Form 10-K for the fiscal year ended December 31, 2023.
Cautionary Note Regarding Forward-Looking Statements
This communication contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These statements, which express management’s current views concerning future business, events, trends, contingencies, financial performance, or financial condition, appear at various places in this communication and may use words like “aim,” “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “goal,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “see,” “seek,” “should,” “strategy,” “strive,” “target,” “will,” and “would” and similar expressions, and variations or negatives of these words. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on management’s current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. These forward-looking statements involve a number of risks and uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include those factors discussed under the caption “Risk Factors” in our annual report on Form 10-K, along with our other filings with the U.S. Securities and Exchange Commission (“SEC”). However, those factors should not be considered to be a complete statement of all potential risks and uncertainties. Additional risks and uncertainties not known to us or that we currently deem immaterial may also adversely affect our business operations. Forward-looking statements are based only on information currently available to our management and speak only as of the date of this communication. We do not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, except as otherwise required by securities and other applicable laws. Please consult our public filings with the SEC or on our website at www.clarivate.com.
About Clarivate
Clarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com.
Logo – https://mma.prnewswire.com/media/1159266/Clarivate_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/clarivate-declares-dividend-on-mandatory-convertible-preferred-shares-302133633.html
BEIJING, May 1, 2024 /PRNewswire/ — Focusing on the development of AI, the third CMG Forum was held on Monday in Beijing.
Li Shulei, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and the head of the Publicity Department of the CPC Central Committee, attended the opening of the event and delivered a speech.
Guests at the forum stressed the role of media in promoting the innovative application of AI as well as its governance.
Efforts should also be made to boost the development of AI in creating positive, healthy, diverse and high-quality content, so that AI can become a force for good and benefit mankind, they agreed.
They also called on media to accelerate intelligent transformation and help bridge international exchanges and cooperation on the governance of AI to facilitate its healthy, orderly and safe development.
Hosted by China Media Group (CMG), the forum attracted more than 200 participants from international organizations, media, think tanks and multinational companies.
“Innovation and breakthroughs in science and technology not only guide the development and progress of human civilization, but also bring uncertainty to the changing world,” said Shen Haixiong, vice minister of the Publicity Department of the CPC Central Committee and president of CMG. He called for efforts to jointly create valuable and responsible artificial intelligence.
AI technology is affecting every aspect of our lives. Thomas Bach, president of the International Olympic Committee (IOC), stated in a video speech that CMG has always been a partner of the IOC, bringing the charm of the Olympic Games to hundreds of millions of Chinese viewers. He said the IOC invites CMG to work together for the creation of a future with the application of AI in Olympic sports.
“From ancient inventions such as silk, printing and the compass to modern technological advances such as robotics, telecommunications and green technology, China has always been committed to innovation and creation,” said Daren Tang, director general of the World Intellectual Property Organization (WIPO). He said WIPO pays close attention to ensuring a balance between the opportunities and risks of artificial intelligence and is committed to strengthening cooperation to ensure that artificial intelligence is properly used.
https://news.cgtn.com/news/2024-04-30/3rd-CMG-Forum-in-Beijing-discusses-AI-development-1tdDcXvCexG/p.html
View original content:https://www.prnewswire.co.uk/news-releases/cgtn-3rd-cmg-forum-in-beijing-discusses-ai-development-302133410.html
-
Uncategorized7 days agoCherrypicks Partners with AWS DevAx Leading Cloud Technology Innovation for Hong Kong Enterprises
-
Artificial Intelligence6 days agoHikvision redefines urban mobility with AIoT-powered solutions at Intertraffic 2024
-
Artificial Intelligence6 days agoHITACHI ACQUIRES MA MICRO AUTOMATION OF GERMANY IN EFFORT TO ACCELERATE GLOBAL EXPANSION OF ROBOTIC SI BUSINESS IN THE MEDICAL AND OTHER FIELDS
-
Artificial Intelligence6 days agoWeb O.No: Metaverse and Web 3.0 stunted by internet chaos, warn 87% of business leaders
-
Artificial Intelligence6 days ago
Greater efforts urged on sci-tech cooperation
-
Artificial Intelligence5 days agoCognitive Security Market Projected to Reach $134.26 billion by 2030 – Exclusive Report by 360iResearch
-
Uncategorized6 days ago
Xiao-I Corporation to Announce Full Year 2023 Results
-
Artificial Intelligence6 days ago
IBM, Government of Canada, Government of Quebec Sign Agreements to Strengthen Canada’s Semiconductor Industry
