Delvens published a new research publication on "Internet of Things (IoT) Technology Market Insights, to 2030" with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Internet of Things (IoT) Technology Market was mainly driven by the increasing R&D spending across the world.
The global Internet of Things (IoT) Technology Market size was estimated at USD 1,001.0 billion in 2023 and is projected to reach USD 2,846.1 billion in 2030 at a CAGR of 16.1% during the forecast period 2023-2030.
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The Internet of Things (IoT) technology comprises of intelligent devices that are interconnected with the web and are capable of acquiring, examining, and manipulating data from their environment through the aid of embedded systems, which consist of sensors, processors, and communication hardware.
Numerous enterprises, spanning across various industries, are progressively transitioning towards IoT technology, with the objective of ameliorating their organizational performance, comprehending their clientele better, providing superior customer services, augmenting decision-making capabilities, and elevating their business's worth.
North America to Dominate the Internet of Things (IoT) Technology Market:
North America is estimated to account for the largest market share during the forecast period. In North America, there is significant growth in the healthcare, industrial, and automotive sectors owing to a growing customer base for cloud-based platforms.
Moreover, the strong presence of the key providers of IoT technologies is expected to boost the North American market growth.
Competitive Landscape of Internet of Things (IoT) Technology Market:
- Aeris Communications Inc.
- Amazon Web Services Inc.
- AT&T Inc.
- AWS
- Cisco Systems Inc.
- Fujitsu Ltd
- General Electric Company
- Google Inc.
- Honeywell International Inc.
- Huawei Technologies Co. Ltd
- IBM Corporation
- Koninklijke Philips NV
- Microsoft Corporation
- Oracle Corporation
- PTC Inc.
- Qualcomm
- Robert Bosch GmbH
- SAP SE
- Siemens AG
- Wipro Ltd and More
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Recent Developments
In April 2023, Texas Instruments created the SimpleLink Wi-Fi 6 ICs to help designers create reliable, secure, and cost-effective Wi-Fi connections for high-density and high-temperature applications. Their CC33xx devices can be used in IoT connections in various industrial settings when paired with an MCU or CPU.
In February 2023, Qualcomm launched Qualcomm Aware, which offers services for managing assets in industries that require precise and time-sensitive decision-making. It combines silicon, cloud framework, and hardware and software partners to improve operational efficiency and global connection. It also uses location technologies and sensor alerts to optimize device management and control functions.
The Internet of Things (IoT) Technology Market is segmented into various segments such as Component, End-user Industry, Organization Size and region:
Based on Component
- Hardware
- Software/Platform
- Connectivity
- Services
Based on the End-user Industry
- Manufacturing
- Transportation
- Healthcare
- Retail
- Energy and Utilities
- Residential
- Other End-user Industries
Based on Organization Size
- Small and medium-sized enterprises
- Large enterprises
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