18.7% Growth Rate for IoT Connectivity Market by 2024 | Overview, Top Technologies, Key Insights and Company Profiles

A fresh report titled IoT Connectivity Market delivering key insights and providing a competitive advantage to clients through a detailed report. The report contains 118 pages which highly exhibit on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability. An exclusive data offered in this report is collected by research and industry experts team.

The IoT Connectivity Market to grow from US$ 3.8 Billion in 2019 to US$ 8.9 Billion by 2024, at a Compound Annual Growth Rate (CAGR) of 18.7% from 2019 to 2024. This report spread across 118 Pages, Profiling 16 Companies and Supported with 53 Tables and 31 Figures is now available in this research.

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Based on component, the platform segment is expected to hold a higher market share than the services segment during the forecast period. The IoT connectivity platform acts as a common point to manage the entire network of an organization along with devices, and, at the same time, ensure the security of communications. These platforms analyze data transferred over a network and automatically routes it to avoid congestions that can result in a network crash.

Among services, the managed services segment is expected to witness a higher growth rate than the professional services segment during the forecast period. Managed services help clients manage their IoT connectivity operations from consultancy to deployment and maintenance. The prime responsibility of the managed services providers is to improve the efficiency of inbound and outbound operations cost-effectively for enterprises.

The market in APAC is projected to grow at the highest CAGR during the forecast period, due to the massive potential for the applications of IoT in sectors such as manufacturing, automotive, and building automation. The adoption of the IoT-based devices is increasing at a swift pace in APAC owing to the digital initiatives by various governments.

Study Objectives:
• To analyze the competitive developments, such as mergers and acquisitions, new product developments, and R&D activities in the market

• To analyze the opportunities in the market for stakeholders and provide the competitive landscape of the market

• To forecast the revenue of the market segments with respect to five major regions, namely North America, Europe, Asia Pacific (APAC), Latin America, and Middle East & Africa (MEA).

• To define, describe, and forecast the IoT connectivity market based on component (platform and services), organization size (large enterprises, and SMEs), application areas, and region.

• To provide detailed information related to the major factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the market

• To analyze the market subsegments with respect to individual growth trends, prospects, and contributions to the total market

• To profile the key players and comprehensively analyze their recent developments and positioning in the market

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Topmost Outstanding Market Players:
• AT&T (US)
• Cisco (US)
• Verizon (US)
• Vodafone (UK)
• Ericsson (Sweden)
• Sierra Wireless (Canada)
• Orange (France)
• Telefónica (Spain)
• Huawei (China)
• Telit (Italy)
• Hologram (US)
• Particle (US)
• Aeris (US)
• Sigfox (France)
• EMnify (Germany)
• Moeco (US)

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This release was published on openPR.