IoT Market, June 2021 Report On Size and Growth 2021, CAGR Value, Top Players with Share and Revenues, Industry Trends, Business Strategies and Challenges till 2030

In a recently published report, IoT Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for IoT Market products.

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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.

Internet of Things (IoT) market worth USD 1470.8 billion in 2016 and expected to reach USD 2995.2 billion by 2022, at a CAGR of 12.6% between 2016 and 2022. We know that within the Iot market the intelligent system will be the largest type segment while software will be the fastest growing segment growing at a CAGR ranging from 15% to 20% during the forecast period. In addition, the operation management will be the fastest growing service segment in the market growing at a CAGR ranging from 15% to 20% during the forecast period. The Asia Pacific region will be the fastest growing geographic region in the market growing at a CAGR of more than 15% by 2022.

Deeper understanding of the strategies adopted by the key players in this market to stay competitive. Granular analysis about the growth map of the market during the next five years. Comprehensive analysis of the key market players and their market share.

Growing digitization of the business models across medium enterprises primary drivers fueling the growth of the iot market. The introduction of smart city initiatives by government and rising adoption of smartphone and tablet expected to boost growth of iot market. Other factors such as increasing introduction to smart devices and appliances widening application areas and growing transition from IPV4 to IPV6 are increasing the on take in iot technology across globe. However the high selling price of smart devices and appliances is impeding the growth of the market. Data privacy and security threats and lack of awareness in developing regions hampering growth of the global market.

This report analyzes the iot market by the following segments:

Internet of Things (IoT) Market, by Type
Intelligent System
Internet of Things (IoT) Market, by Software
Security Software
Data Management Software
Analytics Software
Communication Software
Other Software
Internet of Things (IoT) Market, by Service
Consulting Service
Integration & Implementation Service
Outsourcing Service
Repair and Maintenance Service
Internet of Things (IoT) Market, by End-User
Public Sector
IT & Telecom
Media & Entertainment
Energy & Utility

Key players in the Internet of Things (IoT) market include:

IBM Corporation
Cisco System, Inc.
Google, Inc.
Hewlett-Packard Company
Microsoft Corporation
Accenture PLC
Oracle Corporation
General Electric
Telefonica S.A.

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