IoT Market to Expand from $956 Billion in 2023 to USD 5,332.3 Billion by 2032 | AMR

Allied Market Research published a report, titled, "IoT Market Size, Share, Competitive Landscape and Trend Analysis Report, by Component, by Deployment Mode, by Organization Size, by Platform, by Technology, by Industry Vertical : Global Opportunity Analysis and Industry Forecast, 2024-2032."

𝐈𝐨𝐓 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝟐𝟎𝟑𝟐 :

The global IoT market size was valued at $956.0 billion in 2023, and is projected to reach $5,332.3 billion by 2032, growing at a CAGR of 21.3% from 2024 to 2032.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/463

𝐓𝐡𝐞 𝐨𝐧-𝐩𝐫𝐞𝐦𝐢𝐬𝐞 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐡𝐞𝐥𝐝 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐡𝐚𝐫𝐞 𝐢𝐧 𝟐𝟎𝟐𝟑.

By deployment mode, the on-premise segment held the highest market share in 2023. This is attributed to numerous advantages offered by on-premise deployment such as a high level of data security and safety.

𝐓𝐡𝐞 𝐈𝐓 & 𝐭𝐞𝐥𝐞𝐜𝐨𝐦 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐡𝐞𝐥𝐝 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐡𝐚𝐫𝐞 𝐢𝐧 𝟐𝟎𝟐𝟑.

By industry vertical, the IT & telecom segment held the highest market share in 2023. IT & telecom companies provide robust platforms for device management, including provisioning, monitoring, and updating IoT devices. IT & telecom companies provide the essential connectivity backbone for IoT devices.

𝐓𝐡𝐞 𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐡𝐞𝐥𝐝 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐡𝐚𝐫𝐞 𝐢𝐧 𝟐𝟎𝟐𝟑.

By component, the solution segment held the highest market share in 2023 due to the growing need for solutions that support the functioning of IoT devices. The service providers deliver end-to-end software development solutions for consumer IoT, from project planning and testing to deployment. This is in turn expected to propel the growth of this segment in the global market.

𝐓𝐡𝐞 𝐥𝐚𝐫𝐠𝐞 𝐞𝐧𝐭𝐞𝐫𝐩𝐫𝐢𝐬𝐞𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐡𝐞𝐥𝐝 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐡𝐚𝐫𝐞 𝐢𝐧 𝟐𝟎𝟐𝟑.

By organization size, the large enterprises segment held the highest market share in 2023. This is attributed to an increase in the adoption of IoT technology by businesses to gain a strategic and competitive advantage over their competitors. Customers use IoT to discover new insights on large-scale diverse data, including historical and recent data. This technology is suitable for the collection of data and running algorithms and analysis across a large set of data to find relevant relationships, entities, and insights.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/internet-of-things-IoT-market/purchase-options

𝐓𝐡𝐞 𝐝𝐞𝐯𝐢𝐜𝐞 𝐦𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐡𝐞𝐥𝐝 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐡𝐚𝐫𝐞 𝐢𝐧 𝟐𝟎𝟐𝟑.

By platform, the device management segment held the highest market share in 2023. As it enables the efficient provisioning of devices, ensuring they are correctly configured and ready for use. These platforms support large-scale deployments, which is essential for industries with vast numbers of connected devices.

𝐓𝐡𝐞 𝐧𝐞𝐭𝐰𝐨𝐫𝐤 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐡𝐞𝐥𝐝 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐡𝐚𝐫𝐞 𝐢𝐧 𝟐𝟎𝟐𝟑.

By technology, the network communication segment held the highest market share in 2023. Network communication technologies are widely used in public and private networks, supported by a growing ecosystem of devices and applications.

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐡𝐞𝐥𝐝 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐡𝐚𝐫𝐞 𝐢𝐧 𝟐𝟎𝟐𝟑.

By region, North America held the highest market share in terms of revenue in 2023 and is expected to lead the market in terms of revenue throughout the forecast period. This demand is attributed to the rising need for internet services to address the increasing adoption of digital technologies in several sectors. Individuals are choosing digital services to improve their knowledge and skills.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :

Google LLC
Hewlett Packard Enterprise
Cisco Systems, Inc.
International Business Machine Corporation (IBM)
SAP SE
Microsoft Corporation
Amazon Web Service
Oracle Corporation
Intel Corporation
Bosch Software Innovation GMBH

The report provides a detailed analysis of these key players in the global internet of things market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, and agreements to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to highlight the competitive scenario.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/463

𝐑𝐞𝐜𝐞𝐧𝐭 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭 :

In April 2024, ByteSnap released an IoT standards and protocols guide, with the proliferation of IoT devices, protocols and standards ensure that the devices function correctly and communicate smoothly with each other.

In May 2023, NOVUS expanded its vision for modular technology and brought the simplicity of IoT to the N20K48 controller. With the new Wi-Fi micromodule, it is easy to integrate legacy devices. The integration is efficient and makes communication between devices an affordable and simple process.

In June 2023, Qualcomm Technologies, Inc. launched two modem chipsets with satellite capability: the Qualcomm 212S Modem and the Qualcomm 9205S Modem. The new Qualcomm modem chipsets power off-grid industrial use cases that require standalone non-terrestrial network (NTN) connectivity or hybrid connectivity alongside terrestrial networks.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

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