Global Internet of Things (IoT) Market Share 2021: Industry Analysis Report to 2027

The global IoT market is anticipated to grow at a considerable CAGR during the forecast period (2021-2027). The key factor to drive the market growth is the mergers and acquisition of the top players of IoT sector and increase in the adoption of IoT devices. According to IoT analytics, in 2020 there were around 11.7 billion IoT device connections, which is much more than 9.5 billion in 2019. By 2025, it is estimated to around 30 billion IoT connections, which is almost 4 IoT devices per person on average globally.

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Further, in October 2020, Cognizant has acquired Bright Wolf, a privately held technology services provider operating in the industrial Internet of Things (IIoT) solution. This acquisition is done the accelerating the growth of the IIoT services. In addition, the bright wolf’s experience in production IIoT deployments and cognizant experience in foundational IIoT technologies has increased the company’s client resiliency, competitive advantage, and operational efficiency.

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Further, in June 2020, Microsoft announced the acquisition of CyberX, a security start-up that focuses especially on stopping, detecting, and predicting security breaches on IoT networks and additionally the networks of large industrial organizations. The deal was completed for $ 165 million. This acquisition is done to increase the security in the Azure IoT business of Microsoft Corp. Thus, the rise in the adoption of IoT device connections and the companies initiative regarding collaboration for the IoT sector is to propel the growth of the market during the forecast period.

Market Coverage

The market number available for – 2020-2027
Base year- 2020
Forecast period- 2021-2027
Segment Covered- By Infrastructure and By End-User
Regions Covered- North America, Europe, Asia-Pacific, and Rest of the World
Competitive Landscape- Amazon Web Service, ARM Holding PLC, Cisco Systems Inc., Robert Bosch GmbH, Honeywell International Inc., Microsoft Inc, Google Inc, and others.

Global Internet of Things (IoT) Market Report Segment

By Infrastructure

Platform
Mobile Networks and Access Technologies
Cloud Solutions/Storage and Processing
Analytics
Security

By Vertical

BFSI
Manufacturing
Transportation
Retail
Healthcare
Energy & Utilities
Government & Defense
Residential
Others

Global Internet of Things (IoT) Market Report Segment by Region

North America

US
Canada

Europe

Germany
UK
France
Spain
Italy
Rest of Europe

Asia-Pacific

China
Japan
India
Rest of Asia-Pacific

Rest of the World

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