Global Military IoT market is anticipated to grow at a CAGR of 8% during 2021-2026

The growth of global military IoT market is driven by increase in IoT enabled business practices and surge in incorporation of advanced technology in military sector. IoT technologies help military sector to enhance security and communication networks and make substantial cost savings. Moreover, factors such as environmental monitoring, controlling weapons and military surveillance leads to lucrative growth of the global military IoT market.

Key questions answered in the study:
1. What are the current and future trends of the Military IoT industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Military IoT industry?
5. What is the customer orientation, purchase behavior, and expectations from the Military IoT firms across various regions?

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According to MarkNtel Advisors’ research report “Global Military IoT Market Analysis 2021”, the Global Military IoT market is anticipated to grow at a CAGR of 8% during 2021-26. The outbreak of COVID-19 pandemic have severely affected all the sectors. It has led to halt the operation across all the verticals due to temporary shutdown of several operations or reducing the capacity of industries by 25%. The incorporation of IoT technologies in military sector is projected to surge in the future as it would help to enhance transparency, increase safety and real-time tracking.

“Global Military IoT Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Military IoT providers across the region. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.

For detailed analysis, visit: https://www.marknteladvisors.com/research-library/global-military-iot-market.html

North America grabbed the highest share
Based on region, North America acquires the largest share in the global military IoT market owing to increase in adoption of IoT and growing government expenditure on military sector. According to (SIPRI) Stockholm International Peace Research Institute, the U.S. is the country with highest spending on military sector. Moreover, increasing usage of IoT technology by the US army for overseas operations propels the growth of global military IoT market.

According to MarkNtel Advisors’ the key players with a considerable market share in the Global Military IoT market are Northrop Grumman Corporation, Honeywell International Inc., BAE Systems, FreeWave Technologies, Inc., Lockheed Martin Corporation, Forescout Technologies, Inc., AT&T Inc., Harris Corporation, IBM Corporation, Thales Group, SAP SE, FLIR Systems Inc.

Market Segmentation:
1. By Component (Hardware, Software, Services)
2. By Technology (Wi-Fi, Cellular, RFID, Others)
3. By Application (Training and Simulation, Health Monitoring, Real-Time Fleet Management, Inventory Management, Equipment Maintenance, Others)
4. By Region ( North America, South America, Europe, Middle East & Africa, Asia-Pacific)
5. By Company (Northrop Grumman Corporation, Honeywell International Inc., BAE Systems, FreeWave Technologies, Inc., Lockheed Martin Corporation, Forescout Technologies, Inc., AT&T Inc., Harris Corporation, IBM Corporation, Thales Group, SAP SE, FLIR Systems Inc.)

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We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

This release was published on openPR.