Enterprise IoT Market 2020 Global Leaders Analysis: Amazon Web Services, Verizon Communications, Intel, Cisco Systems, Microsoft, Oracle
The rapid uptake and development of the IoT is increasingly a crucial component of any enterprises’ strategy. Market Research Future predicts the potentiality of the global enterprise IoT market 2020. It can achieve a valuation of USD 58 Billion endpoints by the year 2023. This valuation will garner at a growth rate of 26% in the forecast years (2017 to 2023).
Top Impacting Factors
The market is witnessing the finest growth from the factors such as electricity smart metering for both residential and commercial that could boost the adoption of IoT among utilities in the coming years. Physical security, where building intruder detection and indoor surveillance use cases, will drive volume and would become the second-largest user of IoT, thus stimulating the valuation of the global Enterprise Iot Market.
IoT technology is the keystone for many enterprises by providing digital transformations and empowering them to upgrade existing processes by creating and tracking new business models. The key players in the enterprise IoT market are continuously developing strategies by completing planned mergers and partnerships, to develop new advanced IoT products and solutions. These factors have also been considered as prime ones stimulating the market growth during its growth course.
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Major tech giants such as IBM Corporation and Bosch have been actively investing in enterprise IoT market owing to the rising demand from assorted industry verticals such as education, healthcare, manufacturing, corporate, and among others. IBM and Bosch joined forces for developing new technologies for enterprise IoT, and to deliver comprehensive IoT solutions for respective enterprises. In fact, the rising adoption of BYOD and mobile devices is also one of the essential factors liable for fueling the growth of the enterprise IoT market.
The prominent players in enterprise IoT market are – Intel Corporation (U.S.), Cisco Systems, Inc. (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), IBM Corporation (U.S.), Google Inc. (U.S.), Hewlett Packard Enterprise (U.S.), Amazon Web Services, Inc. (U.S.), Bosch Software Innovations GmbH (Germany), Verizon Communications (U.S.) and others.
As per the study, the enterprise IoT market is further studied among segments such as platform, component, and enterprise type.
In terms of component segment, the market is bifurcated among solutions, software, and services. Among these, the software segment acquires the largest market share for the enterprise IoT market owing to the rising cloud-based applications and cloud-based data storage. In terms of the services segment, the market might expand at a noteworthy rate owing to the escalating demand for IoT applications and devices.
In terms of the platform segment, the market has included device management, application management, and network management.
In terms of enterprise type, the market has included SMEs and large enterprises.
The regional analysis of the enterprise IoT market globally is studied for regions such as North America, Asia Pacific, Europe, and the Rest of the World.
As per the study, it has been observed that the North America region is estimated to grasp the largest share of market. In the year 2020, revenue from the market will gather a total of $389 billion globally. The foremost growth in the enterprise IoT market in North America is ascribed to technological advancements and mounting the internet of things across various industry verticals in that region.
The region of Asia-Pacific is also projected to expand at the fastest rate during the forecast period. In this region, China will achieve a $91 billion valuation in the global enterprise IoT market.
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• Software Vendors
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• IoT Platform Providers
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