Global Internet of Things (IoT) Market Size, Share & Trends Analysis Report by Infrastructure (Platform, Mobile Networks and Access Technologies, Cloud Solutions/Storage and Processing, Analytics, and Security), By End-User (BFSI, Manufacturing, Transportation, Retail, Healthcare, Energy & Utilities, Government & Defense, Residential, and Others), Forecast 2024-2031
The global IoT Market is anticipated to grow at a CAGR of 25.2% during the forecast period (2024-2031). The market is primarily driven by the increasing development of wireless networking technologies, the rise in cloud platform adoption, miniaturization, and the emergence of advanced data analytics.
The other major contributors to the market growth are the advancement in data analytics, computing economies, and demand from varied domains including manufacturing, automotive, energy, and others. The market also witnesses opportunities attributed to the increasing demand for connected devices, with increasing projects of smart cities, smart transportation, and smart utilities.
Additionally, as IoT offers high-speed connectivity it is driving opportunities across sectors including energy, healthcare, transportation, utility, and others.
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The global IoT market is segmented based on infrastructure (into the platform, mobile networks and access technologies, cloud solutions/storage and processing, analytics, and security), end-user (into BFSI, manufacturing, transportation, retail, healthcare, energy & utilities, government & defense, residential, and others) and geographies (into North America, Europe, Asia Pacific and Rest of World).
Key Highlights
A full report of Internet of Things (IoT) Market available @ www.omrglobal.com/industr…iot-market
The key players in the global IoT market include Amazon Web Services, Cisco Systems Inc., ARM Holding PLC, Honeywell International Inc, Robert Bosch GmbH, Microsoft Corp., Google Inc., and others. The market players are contributing significantly to the industry growth by the adoption of various business strategies.
However, the market is challenged by the lack of lack of technological awareness.
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