Internet of Things Market By Software Solution (Real- Time Streaming Analytics, Security Solution, Data Management, Remote Monitoring System, Network Bandwidth Management); By Service (Professional Service, Deployment And Integration, Support And Maintenance, Consulting Service, Managed Service); By Platform (Device Management, Application Management, Network Management); By Application Area (Building And Home Automation, Smart Energy And Utilities, Smart Manufacturing, Connected Logistics, Smart Retail, Smart Mobility And Transportation, Others); By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Market Analysis, Trends, Opportunity and Forecast, 2022-2032

Internet of Things Market Overview

The Internet of things (IoT) involves the perpetually evolving broad network of connected physical objects—“things”—that are embedded with sensors, software, and technologies such as AI, cloud computing, next-gen cybersecurity, advanced analytics, big data, and others for the purpose of connecting, communicating and transferring data with other devices and systems over the Internet without human interference. It facilitates intelligent connectivity and is thereby changing the way industries approach complex processes of systems and machines.

IoT enables people and businesses to execute higher-level tasks, achieve meaningful insights, and control environments while bridging the digital and physical realities by powering information-driven automation and improvements.

Key benefits of IoT include productivity improvements, cost savings, predictive analysis, and human error reduction and improved monitoring etc.

Internet of things market revenue will reach approximately USD 665.4 billion in 2022. Further, our Internet of things market insights show that the market is expected to grow at a CAGR of approximately 17.6% during the forecast period and reach a value of approximately USD 3370.5 billion by 2032.

Internet of Things Market Drivers

The growth of this market is attributed towards major pertaining factors including; the growing adoption of IoT technology across various end-user industries worldwide, the growing need and development of wireless networking technologies globally, the emergence of advanced data analytics across regions, the increasing adoption of cloud platforms, the increasing need for data analysis and integration of data analytics and the growing penetration of internet, broadband services and affordable devices etc.

Additionally, massive fund allocation by big corporate investors and technological colossuses are seen to be increasing in the recent years in the IoT industry. As a result, new and innovative technological startups have garnered huge investments lately owing to their increasing product applications across various industry verticals. Also, one recent trend in the industry includes the opening of new Internet of Things divisions and innovation labs by big companies namely Dell and Intel in the last years.

Moreover, the proliferation of technological advancements and innovations across different industry verticals play a major role in the enhanced use of the available products and services. Due to these advancements, the sensor technologies embedded in IoT devices are being witnessed to become cheaper, advanced, and more widely available which make new sensor applications possible, including large-scale monitoring and detection. With that, the improving mobile connectivity along with the introduction of 5G and the ever increasing computing power allows new applications for experiences such as augmented and virtual reality, which in turn, attracts considerable demand and growth in the overall IoT market.

Furthermore, other factors such as the growing amount of investments, rising advancements in telecommunication, the increasing usage of smart sensors owing to their ability to digitally analyze processes and the adoption of cloud data management in large scale IoT applications further contribute to the fueling of growth of this market.

However, factors such as issues pertaining to privacy and security such as unauthorized access to connected devices or breaking into the connectivity system, concerns relating to data migration from legacy systems, the lack of unanimously accepted operational standards and the presence of multiple strategic alliances in the industry hamper the growth of this market.

Internet of Things Market Segmentation

By Software Solution

• Real- Time Streaming Analytics
• Security Solution
• Data Management
• Remote Monitoring System
• Network Bandwidth Management

By Service

• Professional Service
• Deployment And Integration
• Support And Maintenance
• Consulting Service
• Managed Service

By Platform

• Device Management
• Application Management
• Network Management

By Application Area

• Building And Home Automation
• Smart Energy And Utilities
• Smart Manufacturing
• Connected Logistics
• Smart Retail
• Smart Mobility And Transportation
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Internet of Things Market Regional Insights

The Asia Pacific region holds the largest share and is the fastest growing regional market in the Internet of Things market. It is also expected to continue its dominance in the near future on account of the massive growth projected in the region. The growth in the region can be attributed to factors such as the massive adoption of IoT in developing countries, such as India and China, the growing implementation of the ‘Make in India’ policy which promotes investment in manufacturing, the rising number of smart city initiatives by governments in the region, the increasing penetration of high-speed internet services and the falling average selling price for sensors and modules in the region etc. The major contributors in the region include India, China and Japan among others.

The North American region followed by the European region holds the second largest share in the IoT market. Being one of the most prominent regional markets in the IoT industry, the region is anticipated to account for tremendous growth in the upcoming years. The growth in the region could be attributed to factors such as the existence of majority companies and major technology providers in the region, the increasing investments for the development of IoT in the region and the high presence and adoption of superior technological advancements in the region. Furthermore, the rapid digitalization across industry verticals, the increasing adoption of smart connected devices and the low cost of business operations coupled with the presence of highly skilled workforce also contribute significantly to the growth of this market. The U.S and Canada are the major contributors to the market in this region.

Internet of Things Market Key Players

• Hewlett-Packard Enterprise
• Accenture PLC
• Alcatel-Lucent
• Atmel Corporation
• SAP SE
• Cisco Systems Inc.
• Microsoft Corporation
• PTC Inc.
• Google Inc.
• Huawei Technologies
• AT&T Inc.
• Intel Corporation
• Amazon Web Services Inc.
• Bosch Software Innovation GmbH
• General Electric
• Oracle Corporation
• International Business Machine Corporation
• Siemens AG
• Other Players

RECENT DEVELOPMENTS:

• In January 2021, The Cloud Security Alliance (CSA), the world’s leading organization dedicated to defining standards, certifications and best practices to help ensure a secure cloud computing environment announced Internet of Things (IoT) Security Controls Framework Version 2 and the accompanying Guide to the Internet of Things (IoT) Security Controls Framework.
• In February 2021, Indian telecommunications company Tata Communications which purchased a 58.1% stake in eSIM provider Oasis Smart SIM Europe towards the end of December last year, took advice from Herbert Smith Freehills on the same deal. By acquiring Oasis, Tata Communications is said to integrate Oasis’ technology and personalized service offering for the deployment of eSIMs and SIM technologies into its own company. The acquisition will also strengthen Tata Communications’ MOVE platform, a mobility solutions platform for enterprises. Tata hopes to drive research and development (R&D) initiatives following the acquisition, to leverage growth in the Internet of Things and mobility sectors.

Research Methodology

Market Definition and List of Abbreviations

1. Executive Summary
2. Growth Drivers & Issues in Global Internet of Things Market
3. Global Internet of Things Market Trends
4. Opportunities in Global Internet of Things Market
5. Recent Industry Activities, 2019
6. Porter's Five Forces Analysis
7. Market Value Chain and Supply Chain Analysis
8. Global Internet of Things Market Size (USD Million), Growth Analysis and Forecast, (2019-2025)

9. Global Internet of Things Market Segmentation Analysis, By Component
9.1. Introduction
9.2. Market Attractiveness, By Component
9.3. BPS Analysis, By Component
9.4. Devices Market Size & Forecast (USD Million), 2019-2025
9.5. Software
9.5.1. Real-Time Streaming Analytics Market Size & Forecast (USD Million), 2019-2025
9.5.2. Security Market Size & Forecast (USD Million), 2019-2025
9.5.3. Data Management Market Size & Forecast (USD Million), 2019-2025
9.5.4. Remote Monitoring Market Size & Forecast (USD Million), 2019-2025
9.5.5. Network Bandwidth Management Market Size & Forecast (USD Million), 2019-2025
9.6. Network Market Size & Forecast (USD Million), 2019-2025

10. Global Internet of Things Market Segmentation Analysis, By Technology
10.1. Introduction
10.2. Market Attractiveness, By Technology
10.3. BPS Analysis, By Technology
10.4. Near Field Communication Market Size & Forecast (USD Million), 2019-2025
10.5. ZigBee Market Size & Forecast (USD Million), 2019-2025
10.6. Bluetooth Market Size & Forecast (USD Million), 2019-2025
10.7. RFID Market Size & Forecast (USD Million), 2019-2025
10.8. Wi-Fi Market Size & Forecast (USD Million), 2019-2025
10.9. Others Market Size & Forecast (USD Million), 2019-2025

11. Global Internet of Things Market Segmentation Analysis, By Application
11.1. Introduction
11.2. Market Attractiveness, By Application
11.3. BPS Analysis, By Application
11.4. Consumer applications Market Size & Forecast (USD Million), 2019-2025
11.5. Enterprise applications Market Size & Forecast (USD Million), 2019-2025
11.6. Manufacturing Market Size & Forecast (USD Million), 2019-2025
11.7. Agriculture Market Size & Forecast (USD Million), 2019-2025
11.8. Energy management Market Size & Forecast (USD Million), 2019-2025
11.9. Building and home automation Market Size & Forecast (USD Million), 2019-2025
11.10. Medical and healthcare Market Size & Forecast (USD Million), 2019-2025
11.11. Transportation Market Size & Forecast (USD Million), 2019-2025
11.12. Others Market Size & Forecast (USD Million), 2019-2025

12. Geographical Analysis
12.1. Introduction
12.2. North America Market Size (USD Million), 2019-2025
12.2.1. By Component
12.2.1.1. Introduction
12.2.1.2. Market Attractiveness, By Component
12.2.1.3. BPS Analysis, By Component
12.2.1.4. Devices Market Size & Forecast (USD Million), 2019-2025
12.2.1.5. Software
12.2.1.5.1. Real-Time Streaming Analytics Market Size & Forecast (USD Million), 2019-2025
12.2.1.5.2. Security Market Size & Forecast (USD Million), 2019-2025
12.2.1.5.3. Data Management Market Size & Forecast (USD Million), 2019-2025
12.2.1.5.4. Remote Monitoring Market Size & Forecast (USD Million), 2019-2025
12.2.1.5.5. Network Bandwidth Management Market Size & Forecast (USD Million), 2019-2025
12.2.1.6. Network Market Size & Forecast (USD Million), 2019-2025
12.2.2. By Technology
12.2.2.1. Introduction
12.2.2.2. Market Attractiveness, By Technology
12.2.2.3. BPS Analysis, By Technology
12.2.2.4. Near Field Communication Market Size & Forecast (USD Million), 2019-2025
12.2.2.5. ZigBee Market Size & Forecast (USD Million), 2019-2025
12.2.2.6. Bluetooth Market Size & Forecast (USD Million), 2019-2025
12.2.2.7. RFID Market Size & Forecast (USD Million), 2019-2025
12.2.2.8. Wi-Fi Market Size & Forecast (USD Million), 2019-2025
12.2.2.9. Others Market Size & Forecast (USD Million), 2019-2025
12.2.3. By Application
12.2.3.1. Introduction
12.2.3.2. Market Attractiveness, By Application
12.2.3.3. BPS Analysis, By Application
12.2.3.4. Consumer applications Market Size & Forecast (USD Million), 2019-2025
12.2.3.5. Enterprise applications Market Size & Forecast (USD Million), 2019-2025
12.2.3.6. Manufacturing Market Size & Forecast (USD Million), 2019-2025
12.2.3.7. Agriculture Market Size & Forecast (USD Million), 2019-2025
12.2.3.8. Energy management Market Size & Forecast (USD Million), 2019-2025
12.2.3.9. Building and home automation Market Size & Forecast (USD Million), 2019-2025
12.2.3.10. Medical and healthcare Market Size & Forecast (USD Million), 2019-2025
12.2.3.11. Transportation Market Size & Forecast (USD Million), 2019-2025
12.2.3.12. Others Market Size & Forecast (USD Million), 2019-2025
12.2.4. By Country
12.2.4.1. Market Attractiveness, By End-user
12.2.4.2. BPS Analysis, By End-User
12.2.4.3. U.S. Market Size (USD Million), 2019-2025
12.2.4.4. Canada Market Size (USD Million), 2019-2025

12.3. Europe Market Size (USD Million), 2019-2025
12.3.1. By Component
12.3.1.1. Introduction
12.3.1.2. Market Attractiveness, By Component
12.3.1.3. BPS Analysis, By Component
12.3.1.4. Devices Market Size & Forecast (USD Million), 2019-2025
12.3.1.5. Software
12.3.1.5.1. Real-Time Streaming Analytics Market Size & Forecast (USD Million), 2019-2025
12.3.1.5.2. Security Market Size & Forecast (USD Million), 2019-2025
12.3.1.5.3. Data Management Market Size & Forecast (USD Million), 2019-2025
12.3.1.5.4. Remote Monitoring Market Size & Forecast (USD Million), 2019-2025
12.3.1.5.5. Network Bandwidth Management Market Size & Forecast (USD Million), 2019-2025
12.3.1.6. Network Market Size & Forecast (USD Million), 2019-2025
12.3.2. By Technology
12.3.2.1. Introduction
12.3.2.2. Market Attractiveness, By Technology
12.3.2.3. BPS Analysis, By Technology
12.3.2.4. Near Field Communication Market Size & Forecast (USD Million), 2019-2025
12.3.2.5. ZigBee Market Size & Forecast (USD Million), 2019-2025
12.3.2.6. Bluetooth Market Size & Forecast (USD Million), 2019-2025
12.3.2.7. RFID Market Size & Forecast (USD Million), 2019-2025
12.3.2.8. Wi-Fi Market Size & Forecast (USD Million), 2019-2025
12.3.2.9. Others Market Size & Forecast (USD Million), 2019-2025
12.3.3. By Application
12.3.3.1. Introduction
12.3.3.2. Market Attractiveness, By Application
12.3.3.3. BPS Analysis, By Application
12.3.3.4. Consumer applications Market Size & Forecast (USD Million), 2019-2025
12.3.3.5. Enterprise applications Market Size & Forecast (USD Million), 2019-2025
12.3.3.6. Manufacturing Market Size & Forecast (USD Million), 2019-2025
12.3.3.7. Agriculture Market Size & Forecast (USD Million), 2019-2025
12.3.3.8. Energy management Market Size & Forecast (USD Million), 2019-2025
12.3.3.9. Building and home automation Market Size & Forecast (USD Million), 2019-2025
12.3.3.10. Medical and healthcare Market Size & Forecast (USD Million), 2019-2025
12.3.3.11. Transportation Market Size & Forecast (USD Million), 2019-2025
12.3.3.12. Others Market Size & Forecast (USD Million), 2019-2025
12.3.4. By Country
12.3.4.1. Market Attractiveness, By Country
12.3.4.2. BPS Analysis, By Country
12.3.4.3. Germany Market Size (USD Million), 2019-2025
12.3.4.4. United Kingdom Market Size (USD Million), 2019-2025
12.3.4.5. France Market Size (USD Million), 2019-2025
12.3.4.6. Italy Market Size (USD Million), 2019-2025
12.3.4.7. Spain Market Size (USD Million), 2019-2025
12.3.4.8. Russia Market Size (USD Million), 2019-2025
12.3.4.9. Rest of Europe Market Size (USD Million), 2019-2025

12.4. Asia Pacific Market Size (USD Million), 2019-2025
12.4.1. By Component
12.4.1.1. Introduction
12.4.1.2. Market Attractiveness, By Component
12.4.1.3. BPS Analysis, By Component
12.4.1.4. Devices Market Size & Forecast (USD Million), 2019-2025
12.4.1.5. Software
12.4.1.5.1. Real-Time Streaming Analytics Market Size & Forecast (USD Million), 2019-2025
12.4.1.5.2. Security Market Size & Forecast (USD Million), 2019-2025
12.4.1.5.3. Data Management Market Size & Forecast (USD Million), 2019-2025
12.4.1.5.4. Remote Monitoring Market Size & Forecast (USD Million), 2019-2025
12.4.1.5.5. Network Bandwidth Management Market Size & Forecast (USD Million), 2019-2025
12.4.1.6. Network Market Size & Forecast (USD Million), 2019-2025
12.4.2. By Technology
12.4.2.1. Introduction
12.4.2.2. Market Attractiveness, By Technology
12.4.2.3. BPS Analysis, By Technology
12.4.2.4. Near Field Communication Market Size & Forecast (USD Million), 2019-2025
12.4.2.5. ZigBee Market Size & Forecast (USD Million), 2019-2025
12.4.2.6. Bluetooth Market Size & Forecast (USD Million), 2019-2025
12.4.2.7. RFID Market Size & Forecast (USD Million), 2019-2025
12.4.2.8. Wi-Fi Market Size & Forecast (USD Million), 2019-2025
12.4.2.9. Others Market Size & Forecast (USD Million), 2019-2025
12.4.3. By Application
12.4.3.1. Introduction
12.4.3.2. Market Attractiveness, By Application
12.4.3.3. BPS Analysis, By Application
12.4.3.4. Consumer applications Market Size & Forecast (USD Million), 2019-2025
12.4.3.5. Enterprise applications Market Size & Forecast (USD Million), 2019-2025
12.4.3.6. Manufacturing Market Size & Forecast (USD Million), 2019-2025
12.4.3.7. Agriculture Market Size & Forecast (USD Million), 2019-2025
12.4.3.8. Energy management Market Size & Forecast (USD Million), 2019-2025
12.4.3.9. Building and home automation Market Size & Forecast (USD Million), 2019-2025
12.4.3.10. Medical and healthcare Market Size & Forecast (USD Million), 2019-2025
12.4.3.11. Transportation Market Size & Forecast (USD Million), 2019-2025
12.4.3.12. Others Market Size & Forecast (USD Million), 2019-2025
12.4.4. By Country
12.4.4.1. Market Attractiveness, By Country
12.4.4.2. BPS Analysis, By Country
12.4.4.3. China Market Size (USD Million), 2019-2025
12.4.4.4. India Market Size (USD Million), 2019-2025
12.4.4.5. Japan Market Size (USD Million), 2019-2025
12.4.4.6. South Korea Market Size (USD Million), 2019-2025
12.4.4.7. Indonesia Market Size (USD Million), 2019-2025
12.4.4.8. Taiwan Market Size (USD Million), 2019-2025
12.4.4.9. Australia Market Size (USD Million), 2019-2025
12.4.4.10. New Zealand Market Size (USD Million), 2019-2025
12.4.4.11. Rest of Asia Pacific Market Size (USD Million), 2019-2025

12.5. Latin America Market Size (USD Million), 2019-2025
12.5.1. By Component
12.5.1.1. Introduction
12.5.1.2. Market Attractiveness, By Component
12.5.1.3. BPS Analysis, By Component
12.5.1.4. Devices Market Size & Forecast (USD Million), 2019-2025
12.5.1.5. Software
12.5.1.5.1. Real-Time Streaming Analytics Market Size & Forecast (USD Million), 2019-2025
12.5.1.5.2. Security Market Size & Forecast (USD Million), 2019-2025
12.5.1.5.3. Data Management Market Size & Forecast (USD Million), 2019-2025
12.5.1.5.4. Remote Monitoring Market Size & Forecast (USD Million), 2019-2025
12.5.1.5.5. Network Bandwidth Management Market Size & Forecast (USD Million), 2019-2025
12.5.1.6. Network Market Size & Forecast (USD Million), 2019-2025
12.5.2. By Technology
12.5.2.1. Introduction
12.5.2.2. Market Attractiveness, By Technology
12.5.2.3. BPS Analysis, By Technology
12.5.2.4. Near Field Communication Market Size & Forecast (USD Million), 2019-2025
12.5.2.5. ZigBee Market Size & Forecast (USD Million), 2019-2025
12.5.2.6. Bluetooth Market Size & Forecast (USD Million), 2019-2025
12.5.2.7. RFID Market Size & Forecast (USD Million), 2019-2025
12.5.2.8. Wi-Fi Market Size & Forecast (USD Million), 2019-2025
12.5.2.9. Others Market Size & Forecast (USD Million), 2019-2025
12.5.3. By Application
12.5.3.1. Introduction
12.5.3.2. Market Attractiveness, By Application
12.5.3.3. BPS Analysis, By Application
12.5.3.4. Consumer applications Market Size & Forecast (USD Million), 2019-2025
12.5.3.5. Enterprise applications Market Size & Forecast (USD Million), 2019-2025
12.5.3.6. Manufacturing Market Size & Forecast (USD Million), 2019-2025
12.5.3.7. Agriculture Market Size & Forecast (USD Million), 2019-2025
12.5.3.8. Energy management Market Size & Forecast (USD Million), 2019-2025
12.5.3.9. Building and home automation Market Size & Forecast (USD Million), 2019-2025
12.5.3.10. Medical and healthcare Market Size & Forecast (USD Million), 2019-2025
12.5.3.11. Transportation Market Size & Forecast (USD Million), 2019-2025
12.5.3.12. Others Market Size & Forecast (USD Million), 2019-2025
12.5.4. By Country
12.5.4.1. Market Attractiveness, By Country
12.5.4.2. BPS Analysis, By Country
12.5.4.3. Brazil Market Size (USD Million), 2019-2025
12.5.4.4. Mexico Market Size (USD Million), 2019-2025
12.5.4.5. Rest of Latin America Market Size (USD Million), 2019-2025

12.6. Middle East & Africa Market Size (USD Million), 2019-2025
12.6.1. By Component
12.6.1.1. Introduction
12.6.1.2. Market Attractiveness, By Component
12.6.1.3. BPS Analysis, By Component
12.6.1.4. Devices Market Size & Forecast (USD Million), 2019-2025
12.6.1.5. Software
12.6.1.5.1. Real-Time Streaming Analytics Market Size & Forecast (USD Million), 2019-2025
12.6.1.5.2. Security Market Size & Forecast (USD Million), 2019-2025
12.6.1.5.3. Data Management Market Size & Forecast (USD Million), 2019-2025
12.6.1.5.4. Remote Monitoring Market Size & Forecast (USD Million), 2019-2025
12.6.1.5.5. Network Bandwidth Management Market Size & Forecast (USD Million), 2019-2025
12.6.1.6. Network Market Size & Forecast (USD Million), 2019-2025
12.6.2. By Technology
12.6.2.1. Introduction
12.6.2.2. Market Attractiveness, By Technology
12.6.2.3. BPS Analysis, By Technology
12.6.2.4. Near Field Communication Market Size & Forecast (USD Million), 2019-2025
12.6.2.5. ZigBee Market Size & Forecast (USD Million), 2019-2025
12.6.2.6. Bluetooth Market Size & Forecast (USD Million), 2019-2025
12.6.2.7. RFID Market Size & Forecast (USD Million), 2019-2025
12.6.2.8. Wi-Fi Market Size & Forecast (USD Million), 2019-2025
12.6.2.9. Others Market Size & Forecast (USD Million), 2019-2025
12.6.3. By Application
12.6.3.1. Introduction
12.6.3.2. Market Attractiveness, By Application
12.6.3.3. BPS Analysis, By Application
12.6.3.4. Consumer applications Market Size & Forecast (USD Million), 2019-2025
12.6.3.5. Enterprise applications Market Size & Forecast (USD Million), 2019-2025
12.6.3.6. Manufacturing Market Size & Forecast (USD Million), 2019-2025
12.6.3.7. Agriculture Market Size & Forecast (USD Million), 2019-2025
12.6.3.8. Energy management Market Size & Forecast (USD Million), 2019-2025
12.6.3.9. Building and home automation Market Size & Forecast (USD Million), 2019-2025
12.6.3.10. Medical and healthcare Market Size & Forecast (USD Million), 2019-2025
12.6.3.11. Transportation Market Size & Forecast (USD Million), 2019-2025
12.6.3.12. Others Market Size & Forecast (USD Million), 2019-2025
12.6.4. By Country
12.6.4.1. Market Attractiveness, By Country
12.6.4.2. BPS Analysis, By Country
12.6.4.3. GCC Market Size (USD Million), 2019-2025
12.6.4.4. North Africa Market Size (USD Million), 2019-2025
12.6.4.5. South Africa Market Size (USD Million), 2019-2025
12.6.4.6. Rest of Middle East & Africa Market Size (USD Million), 2019-2025

13. Competitive Landscape
13.1. Market Share of Key Players
13.2. Market Positioning of Major Players in Global Internet of Things Market
13.3. Company Profiles
13.3.1. Accenture PLC
13.3.2. Alcatel-Lucent
13.3.3. Amazon.com Inc.
13.3.4. Atmel Corporation
13.3.5. Cisco Systems Inc.
13.3.6. Google Inc.
13.3.7. Hewlett-Packard
13.3.8. IBM
13.3.9. Qualcomm
13.3.10. Microsoft
13.3.11. Other Major & Niche Players