Global Internet of Things (IoT) Market Sizing Study with COVID-19 Impact, by Components (Software Solutions, Platforms, Services), Verticals (BFSI, Healthcare, Manufacturing, Retail, transport, utilities, government and defense) and regional forecasts 2020-2026
This press release was originally distributed by SBWire
London, UK – (SBWIRE) – 01/18/2022 – The global Internet of Things (IoT) market is valued at around USD 150 billion in 2019 and is expected to grow with a healthy growth rate of over 14 % over the forecast period 2019 -2026. The Internet of Things (IoT) is a framework of interdependent computing devices, mechanical and digital machines offered with unique identifiers (UIDs) and the ability to transfer data over a network without requiring human-to-human interaction or man to computer. The development of wireless technologies coupled with the reduction in the cost of connected objects is boosting the IoT market. As these connected devices use IoT for operations. Moreover, these connected devices run on cloud-based platforms and hence the rising trend of cloud-based platforms is further fueling the growth of the market. Further, increasing adoption of IoT technology among multiple end user industries i.e. manufacturing, automotive, healthcare, etc. is pushing the market towards growth. These connected devices have led the revolution in manufacturing by advancing Industry 4.0 and smart manufacturing. Where the majority of these operations are controlled by IoT devices. However, amid the pandemic caused by the spread of COVID-19 technology IoT has found new applications which further boosted the market towards growth. As with the shutdowns announced by infected countries, the growing emphasis on remote monitoring for the work-from-home initiative and the growing adoption of smart payment technologies that help minimize human contact and cash payments are driving market growth during the crisis.
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Additionally, with government declarations for shutdowns and self-isolation, the use of IoT devices has increased dramatically. As governments around the world embrace drones, facial recognition machines other IoT devices to provide strict area surveillance. According to the World Economic Forum, in April 2020, the Chile-based resort enclave of Zapallar announced that it was using drones to deliver medicine and other essentials to elderly people in the area. The organization uses drones to disinfect public spaces, transport essentials and more. Moreover, since the disease is transmitted through touch and breath, the demand for m-health is also on the rise. With governments launching various mobile health apps to ensure people’s health. While Indian government has launched Aarogya Setu app to keep people alert and keep track on COVID-19. However, the shutdowns have led to financial instability in the majority of organizations, which may affect adoption and business investment in setting up IoT and Industry 4.0 devices. However, lack of skilled labor is hampering the growth of the market during the forecast period 2020-2026.
Key players covered in the Internet of Things (IoT) market report are:
IBM Corporation (USA)
Royal Phillips NV (Netherlands)
Stanley Healthcare (USA)
Microsoft Corporation (USA)
Oracle Corporation (USA)
Robert Bosch GmbH (Germany)
XAG Co., Ltd (China)
Cincinnati Belts and Transmission (CBT) (USA)
PTC Inc. (USA)
There are several market segmentations for the Internet of Things (IoT) market. The research makes a strong difficulty of the preferred segmentation of the market into applications, profits and consistent market from hundred to type. This includes examination, its miles discriminating using type, software and consumption, records on production estimation, evaluation of production approach and covered trading company market boom problem inside the folder with market layouts and market forecast of 2021-2027.
Internet of Things (IoT) Market Segmentation:
Government & Defense
Regional analysis covered in this report:
North America [United States, Canada]Europe [Germany, France, U.K., Italy, Russia]Asia Pacific [China, Japan, South Korea, India, Australia, China Taiwan, Indonesia, Thailand, Malaysia]Latin America [Mexico, Brazil, Argentina]Middle East and Africa [Turkey, Saudi Arabia, UAE]
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In terms of the near aggressive gain and therefore the aggressive panorama of the key players, they need a study of the determined change in the market patterns. The layout examines the market competitiveness of a maximum of top companies, along with their biographies, market fees, and channel layouts. Thorough market research does not overlook a ramification of topics, from hardy population and industrial business cycles to the precise microeconomic ramifications of the market. Players have engaged several techniques to develop Internet of Things (IoT) saturation and beautify their positions, as well as line widening, mergers and acquisitions, agreements, geographic growth and co-location over time scheduled for 2021-2027.
Table of Contents – Main Key Points
Executive Summary, Market Overview, Key Trends, Estimation Methodology, Research Hypothesis
Global Market Definition and Scope, Currency Conversion Rates
Global Competitor Landscape by Players
Global Market Dynamics, Drivers, Challenges, Opportunities
Global Market Industry Analysis, Porter’s 5 Forces Model, PEST Analysis, Investment Adoption Model
Global Market Analysis, By Type, By Application, By Region
Competitive intelligence, key market strategies, company profiles
Research process, attributes and hypothesis
Answers to key questions in the Internet of Things (IoT) market report
What is the growth load of the global market? What is also the upward trend over the forecast period 2021-2027?
What are the main market drivers and restraints at the moment? What will be the effect of future orders and constraints during the forecast period 2021-2027?
How can we reduce our revenue and forecast across the locality?
What is the quantity one profit portfolio for the market boom in each location?
What are the specific findings of importance in the Global COVID-19 Pandemic Market?
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