Portland, OR , Nov. 17, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Europe IoT market generated $2.19 billion in 2021, and is projected to reach $12.30 billion by 2031, growing at a CAGR of 19.0% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $2.19 billion |
| Market Size in 2031 | $12.30 billion |
| CAGR | 19.0% |
| No. of Pages in Report | 324 |
| Segments Covered | Component, Deployment Model, Organization Size, Platform, Technology, Industry Vertical, and Region. |
| Drivers | Breakthroughs in industrial-grade digital technology and increase in preference for cloud-based IoT software. |
| Rise in need for enhanced supply chain & customer relation management activities. | |
| Opportunities | IoT enables companies to automate processes and reduce labor costs. |
| IoT improves service delivery and offers transparency into customer transactions. | |
| IoT offers businesses with a real-time look into how their systems really work, delivering insights into everything from the performance of machines to supply chain and logistics operation. | |
| Restraints | Data security and privacy concerns. |
| High implementation and maintenance costs of IoT equipment. |
COVID-19 Scenario:
- The outbreak of the COVID-19 pandemic had negatively impacted the growth of the Europe IoT market, owing to the shutdown of production networks by major automotive OEMs.
- During the COVID-19 pandemic, supply chain activities were massively disrupted leading to hindrances on the growth of the IoT industry in Europe.
The report offers a detailed segmentation of the global Europe IoT market based on component, deployment model, organization size, platform, technology, industry vertical, and region.. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest-growing segments and highest revenue generation that is mentioned in the report.
Based on component, the solution segment held the major market share in 2021, holding two-thirds of the Europe IoT market share, and is expected to maintain its leadership status during the forecast period. However, the service segment, is expected to cite the fastest CAGR of 20.4% during the forecast period.
On the basis of deployment mode, the on premise segment held the largest market share in 2021, accounting for nearly three-fifths of the Europe IoT market share, and is expected to maintain its leadership status during the forecast period. Nonetheless, the cloud segment, is expected to cite the highest CAGR of 20.2% during the forecast period.
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In terms of enterprise, the large enterprises segment held the largest market share in 2021, accounting for nearly two-thirds of the Europe IoT market share and is expected to maintain its leadership status during the forecast period. Nevertheless, the SMEs segment, is expected to cite the highest CAGR of 20.2% during the forecast period.
The key players analyzed in the Europe IoT market report includes Amazon Web Services, Inc., Bosch.IO GmbH, Google Corporation, Hewlett Packard Enterprise Development LP, IBM Corporation, Microsoft, NortonLifeLock Inc., SAP SE, Sophos Ltd. and Thales.
The report analyzes these key players in the l Europe IoT market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance, and operating segments by prominent players in the market.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
