Iot Connectivity Market is Expected to Exhibit a CAGR of 24.8% During 2022-2027: IMARC Group

According to the latest report by IMARC Group, tittled "IoT Connectivity Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", the global IoT connectivity market is expected to exhibit a CAGR of 24.8% during 2022-2027. Internet of Things (IoT) connectivity represents the network solution that offers a communication platform and network infrastructures for connecting IoT devices. It relies on several network solutions, depending on the bandwidth, range, power consumption, etc. At present times, low power vast area network (LPWAN) is finding extensive utilization in offshore and rural areas with minimal accessibility as it is reliable and consumes less power.

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 IoT Connectivity Market Trends:

The growing dependency on IoT technology to derive data-driven insights, create new business models, enhance productivity and efficiency, expand business globally, etc., is driving the IoT connectivity market. Moreover, the emerging automation trend in industrial processes is also escalating the demand for IoT connectivity to monitor products and address quality defects in real-time continuously, which is propelling the market growth. Besides this, IoT wearables are gaining widespread adoption in the healthcare industry as they enable health analytics to remotely monitor patients, thereby further augmenting the global market. In addition to this, the increasing sales of connected cars due to shifting preferences for luxurious driving experiences are catalyzing the product demand. Additionally, the growing investments by several government bodies in the development of smart cities are expanding the applications of IoT connectivity, which, in turn, will continue to propel the market in the coming years.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Key Market Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

Aeris
AT&T
Cisco Systems Inc.
Huawei Technologies Co. Ltd.
Orange
Sierra Wireless
Sigfox
Telefonaktiebolaget LM Ericsson
Telefónica S.A.
Telit
Verizon Communications Inc.
and Vodafone Group Plc.

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Breakup by Component:

Solutions
Services
 
Breakup by Application:

Buildings and Home Automation
Smart Energy and Utility
Smart Manufacturing
Smart Retail
Smart Transportation
Others
 
Breakup by Enterprise Size:

Small and Medium-sized Enterprises
Large Enterprises

Breakup by End Use Industry:

BFSI
Healthcare
Travel and Hospitality
Defense and Aerospace
IT and Telecommunication
Retail and E-Commerce
Manufacturing
Others

Breakup by Region:

Middle East and Africa
North America
Asia-Pacific
Europe
Latin America

Key highlights of the Report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
Porter's Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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This release was published on openPR.