Dublin, Sept. 15, 2023 (GLOBE NEWSWIRE) -- The "Internet of Things (IoT): Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The Internet of Things (IoT) is set to revolutionize industries across the globe, with its market estimated at $1.3 trillion in 2022. According to a comprehensive report, the IoT market is projected to surge to a remarkable $3.3 trillion by 2030, boasting a robust Compound Annual Growth Rate (CAGR) of 12.4% over the period spanning 2022 to 2030.
Data Management Segment to Spearhead Growth
One of the key segments analyzed in this report is Data Management, which is expected to record an impressive CAGR of 13.1%. By the end of the analysis period, it is anticipated to reach a substantial value of $1.1 trillion, fueled by the increasing demand for efficient data handling and processing.
Revised Growth Trajectory in Post-Pandemic Landscape
Taking into consideration the ongoing post-pandemic recovery, the growth trajectory of the Remote Monitoring segment has been readjusted to a revised CAGR of 14.2% for the next eight years. This reflects the IoT's adaptability and resilience in addressing evolving global challenges.
Key Regional Highlights
- United States: The IoT market in the United States is estimated at $373.7 billion in 2022, showcasing the nation's significant presence in this transformative technology.
- China: As the world's second-largest economy, China is forecast to reach a projected market size of $557.4 billion by 2030, with a CAGR of 11.7% over the analysis period 2022 to 2030. This highlights China's strong growth potential in the IoT sector.
- Global Competitiveness: A diverse range of 368 featured competitors is actively shaping the IoT landscape, including industry giants such as Amazon Web Services, Inc., AT&T, Inc., IBM Corp., Microsoft Corp., and Samsung Electronics Co., Ltd. These companies are at the forefront of IoT innovation and adoption.
Market Trends & Drivers
The report identifies several key market trends and drivers shaping the IoT landscape, including:
- Gradual realization of IoT benefits driving venture capital interest.
- Falling sensor costs leading to IoT proliferation.
- Big data analytics playing a crucial role in commercial IoT success.
- The omnipresence of smartphones and declining connected device prices driving IoT adoption.
- Investments in 4G/LTE and 5G strengthening cellular IoT.
- The rise of wireless short-range networking technologies benefiting low-resource IoT devices.
- Blockchain revolutionizing IoT security and accelerating mainstream adoption.
- Security challenges being addressed through blockchain solutions.
Comprehensive Industry Analysis
This extensive market analysis provides insights into various industries across different geographic regions, including healthcare, retail, IoT, data management, remote monitoring, security, network bandwidth management, real-time streaming analytics, manufacturing, transportation, energy, IT & Telecom, BFSI, and agriculture. It presents sales figures from 2022 through 2030, along with historical data from 2014 to 2021, highlighting percentage CAGR and offering a 16-year perspective on sales breakdown.
Additionally, the report delves into the market presence of IoT in specific regions, including the United States, Canada, Japan, China, Europe, France, Germany, Italy, the United Kingdom, Asia-Pacific, and the Rest of the World, identifying key competitors for 2023.
A Bright Future for IoT
In conclusion, the IoT market is poised for significant growth, transforming industries, and economies worldwide. With a projected value of $3.3 trillion by 2030, this technology continues to be a force to reckon with. The comprehensive analysis presented in this report offers a detailed view of market dynamics, competition, and growth prospects across different global regions, underlining the transformative potential of IoT.
A selection of companies mentioned in this report includes
- Amazon Web Services, Inc.
- ARM Ltd.
- AT&T, Inc.
- Atmel Corporation
- Ayla Networks
- Bitdefender
- Bosch Software Innovations GmbH
- B-Scada
- CLX Communications
- DigiCert
- ErgoTech Systems
- Freescale Semiconductor, Inc.
- Fujitsu Limited
- Gemalto N.V.
- General Electric Company
- Google, Inc.
- Greenwave Systems
- Honeywell International, Inc.
- IBM Corp.
- Infineon Technologies AG
- Ingenu Inc.
- Intel Corporation
- InvenSense Inc.
- Karamba Security
- Microsoft Corp.
- Qualcomm Technologies, Inc.
- Salesforce.com, Inc.
- Samsung Electronics Co., Ltd.
- SAP SE
- Silver Spring Networks
- STMicroelectronics N.V.
- Symantec Corporation
- Telefonica S.A.
- Telit Communications PLC
- Texas Instruments
- Trustwave Holdings, Inc.
- Verizon Communications, Inc.
- Verizon Enterprise Solutions
- Vodafone Group Plc
- Zebra Technologies Corporation
For more information about this report visit https://www.researchandmarkets.com/r/jqm79t
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