Massive IoT Market set to grow at a CAGR of 22.5% - 2031

The global 𝐌𝐚𝐬𝐬𝐢𝐯𝐞 𝐈𝐨𝐓 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐢𝐳𝐞 was valued at $71.1 billion in 2021, and is projected to reach $521.2 billion by 2031, growing at a CAGR of 22.5% from 2022 to 2031. Rising popularity of Narrowband-IoT (NB-IoT) and LTE-M technologies and the rapid advancement of 5G technology are driving the growth of the global Massive IoT Market. In addition, the growing demand for industrial automation has supplemented the market growth. However, interoperability issues between a number of IoT devices and the high cost associated with the implementation and maintenance of IoT platforms are hampering the massive IoT market growth. On the contrary, the rise in the initiatives toward smart city initiatives is expected to offer remunerative opportunities in the industry.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 353 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/A74430

Based on components, the hardware segment held the highest market share in 2021, accounting for nearly two-fifths of the global massive IoT market revenue, and is estimated to maintain its leadership status throughout the forecast period, owing to the growing demand for hardware solutions such as low-power wide-area networks (LPWANs) and rise in the proliferation of low-cost IoT devices. However, the services segment is projected to manifest the highest CAGR of 24.8% from 2022 to 2031, due to the surge in demand for cloud-based IoT services across developed and emerging markets.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Region-wise, the massive IoT market forecast was dominated by North America in 2021 and is expected to retain its position during the forecast period, as it is considered as home to many large technology companies that are heavily involved in IoT development and deployment, such as Microsoft, Amazon, and Google, these companies have significant resources and expertise to invest in the massive IoT industry, which is the driving factor in the region. However, Asia Pacific is expected to witness significant growth during the forecast period, as the region is experiencing rapid economic development, with many countries in the region rapidly industrializing and urbanizing. Thus, these factors are expected to witness considerable growth during the forecast period.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/massive-iot-market/purchase-options

Based on platform, the network management segment accounted for the largest share in 2021, contributing to nearly half of the global massive IoT market revenue, as the integration of networking management solutions is expected to grow to comprehensively monitor real-time network communications, which in turn, is aiding in the segment growth. However, the application management segment is expected to portray the largest CAGR of 24.6% from 2022 to 2031 and is projected to maintain its lead position during the forecast period, due to a rising focus on reducing operational time and cost.

Massive IoT is a term used to describe the deployment of a large number of interconnected devices and sensors that are designed to collect and transmit data over the internet. These devices can be deployed in a wide range of applications, including smart cities, agriculture, and healthcare, and can be used to monitor and optimize systems, improve safety, and enable new services and applications. Moreover, there are several wireless technologies that can be utilized for IoT connectivity, but only 4G/5G cellular technology can link IoT gadgets at this scale with an incredibly dependable, completely secured connection, anywhere in the globe, further drive the market growth.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

Cisco Systems, Inc.
Ericsson
Google LLC (Alphabet)
Huawei Technologies Co., Ltd.
IBM Corporation
Intel Corporation
Microsoft Corporation
Qualcomm Technologies Inc.
SAP SE
Verizon Communications Inc.
ScienceSoft USA Corporation

The report provides a detailed analysis of these key players in the global massive IoT market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮'𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A74430

Depending on the component, the hardware segment dominated the massive IoT market analysis in 2021 and is expected to continue this trend during the forecast period, owing to the increasing demand for end-to-end IoT solutions that provide connectivity, device management, data analytics, and security, which helps in expanding the growth outlook of the solution segment. However, the services segment is expected to witness the highest growth in the upcoming years, owing to the , which drives the segment growth worldwide.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A74430

Based on organization size, the large enterprise segment held the highest market share in 2021, accounting for nearly two-thirds of the global massive IoT market revenue, and is estimated to maintain its leadership status throughout the forecast period, as most of the large enterprises are responsive toward taking security measures such as regular software updates, strong authentication, and risk assessment. However, the SMEs segment is projected to manifest the highest CAGR of 23.8% from 2022 to 2031, as there is a rise in focus on recognizing the importance of IT technologies.

𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

IoT Telecom Services Market - https://www.alliedmarketresearch.com/iot-telecom-services-market-A31745

Fitness App Market - https://www.alliedmarketresearch.com/fitness-app-market-A07465

Web Analytics Market - https://www.alliedmarketresearch.com/web-analytics-market-A05971

Self-healing Networks Market - https://www.alliedmarketresearch.com/self-healing-networks-market-A53691

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll-Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.