Press release
Internet of Things (IoT) Market is Expected to be US$ 261.95 Bn by the end of 2025
Internet of Things (IoT) Market
The Internet of Things (IoT) market is a rapidly growing industry that involves connecting everyday devices and objects to the internet in order to facilitate communication, data collection, and automation. This market encompasses a wide range of industries, including healthcare, transportation, retail, agriculture, manufacturing, and more.
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The IoT market is also creating new opportunities for startups and smaller companies, as the demand for specialized IoT applications and services continues to grow. However, the industry faces challenges related to data security, privacy, and interoperability, which will need to be addressed in order to fully realize the potential of the IoT market.
What are the Factors restraining the Internet of Things (IoT) Market?
IoT is getting widely spread. As such, the organizations/enterprises ask for better security as well as privacy protections for preventing themselves from vulnerability to data breaches and corporate surveillance. Every end-point - be it gateway, smartphone, or sensor - would be on the hit list of the hackers. Organizations are letting go of their privacy, that too, bit by bit, without even an inch of realization, as they could get caught unawares at any time with no knowledge of data being surrendered. Strict norms regarding data minimization and cybersecurity could help.
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Competitive Landscape
The key players are going for noteworthy investments in various advanced technologies like cloud computing, AI, and likewise. Also, the present as well as future scenario is/would be such that well-known market players would significantly invest in mid-sized companies and start-ups for offering efficient solutions. Like -
Haltian, in April 2020, did receive funding worth US$ 9.8 Mn from Ilmarinen, a FVC (Finnish Venture Capital) and Nordic Option Haltian. This funding is used by Haltian for extending the portfolio and pave the way for smart factories, smart washrooms, and smart facilities.
Modular Capital, in March 2020, invested US$ 200K in DesignX, an IIoT (Industrial Internet of Things) firm based out of India. DesignX did invest the funds for building various comprehensive IoT solutions emphasizing on asset performance management through edge solutions.
Key Players:
AMAZON WEB SERVICE.
BOSCH SOFTWARE INNOVATION GMBH
CISCO SYSTEMS, INC.
GOOGLE LLC
HEWLETT PACKARD ENTERPRISE
INTERNATIONAL BUSINESS MACHINE CORPORATION (IBM)
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Internet of Things (IoT) Market Segmentation
Internet of Things (IoT) Market by Component
IoT Platform
IoT Data Transport
IoT Security
IoT Analytics
IoT Sensor
Internet of Things (IoT) Market by Application
Smart Grid
M2M Communication
Home and Building Automation
Wearable Computing Devices
V2V Communication
Others
Internet of Things (IoT) Market by Industry
Manufacturing
Healthcare
Energy & Utilities
Retail
Transportation & Logistics
Government
Others
Internet of Things (IoT) Market by Region
North America Internet of Things (IoT) Market
Latin America Internet of Things (IoT) Market
Europe Internet of Things (IoT) Market
Asia-Pacific Internet of Things (IoT) Market
Middle East & Africa (MEA) Internet of Things (IoT) Market
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Expert analysis, actionable insights, and strategic recommendations - the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.
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