Internet of Things (IoT) Market Witness a Robust CAGR of 20% by the end of 2025

The global market for the Internet of Things (IoT) is anticipated to reach US$ 151.5 billion in 2022 and grow at a healthy CAGR of 20% between 2022 and 2025. By 2025, the market is anticipated to be worth US$ 261.95 billion.

The Internet of Things (IoT) market refers to the growing network of physical devices, vehicles, appliances, and other objects that are embedded with sensors, software, and connectivity to enable them to collect and exchange data. This data can be used to improve efficiency, enable new services, and provide valuable insights for businesses and consumers alike.

IoT applications are widespread, including in the areas of smart homes, connected vehicles, smart cities, industrial automation, and healthcare, among others. The potential for IoT to transform these and other industries has spurred significant investment and innovation in the field.

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Key players in the IoT market include hardware manufacturers, software companies, and service providers, with companies like Amazon, Google, and Microsoft among the largest players in the space. As the market continues to grow and evolve, it is likely that we will see new players emerge and existing players expand their offerings to stay competitive.
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

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Key Players:

AMAZON WEB SERVICE.
BOSCH SOFTWARE INNOVATION GMBH
CISCO SYSTEMS, INC.
GOOGLE LLC
HEWLETT PACKARD ENTERPRISE
INTERNATIONAL BUSINESS MACHINE CORPORATION (IBM)
INTEL CORPORATION
MICROSOFT CORPORATION

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