Kenneth Research, in its repository of market research reports, has recently added a report on Internet of Things (IoT) Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Internet of Things (IoT) Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions 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) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest 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 Internet of Things (IoT) Market products.
According to Market Research, the Global Internet of Things (IoT) Market Size was valued at USD 212.1 Billion in 2018 and is expected to witness a growth of 25.68% from 2019-2026 and reach USD 1,319.08 Billion by 2026.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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What is the Internet of Things (IoT) Market?
The Internet of Things (IoT) can be defined as an arrangement of interconnected and well-organized computing devices, objects, mechanical & digital machines, animals or people that are given with distinctive identifiers/codes with an ability to allocate data over a network without requiring human-to-human or human-to-computer interaction. The scope of IoT has seen a drastic upliftment in the global Internet of Things market with a wide range of applications.
Global Internet of Things (IoT) Market Outlook
In the report, the Internet of Things market Research outlook section mainly encompasses the fundamental dynamics of the market which include drivers, restraints, opportunities, and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
The growing use of third-party platforms and increment in the digital transformation are the two main factors which account as the drivers for the global IoT market. Apart from this, cybersecurity risks and privacy concerns could affect the market growth rate. According to our sources, the number of IoT-connected devices was estimated at 18 billion units in 2016. This suggests that with growing advancement the number will increase significantly.
Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Internet of Things (IoT) Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market. This can be of great use in gaining knowledge about the cutting-edge technologies in the market.
Global Internet of Things (IoT) Market Competitive Landscape
The “Internet of Things (IoT) Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Intel Corporation, SAP SE, Cisco Systems, Inc., Microsoft Corporation, Oracle Corporation, International Business Machine (IBM) Corporation, and PTC Inc. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
Global Internet of Things (IoT) Market, By Software Solution
• Data Management
• Remote Monitoring
• Network Bandwidth Management
• Real-Time Streaming Analytics
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Global Internet of Things (IoT) Market, By Platform
• Application Management
• Network Management
• Device Management
Global Internet of Things (IoT) Market, By Application
• Smart Retail
• Connected Health
• Smart Mobility and Transportation
• Building and Home Automation
• Smart Manufacturing
Global Internet of Things (IoT) Market Geographic Scope
• North America
Rest of Europe
• Asia Pacific
Rest of Asia Pacific
• Latin America
• Rest of the World
Reasons to Purchase this Report
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- The competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
- Provides insight into the market through Value Chain
- Market dynamics scenario, along with growth opportunities of the market in the years to come
- 6-month post sales analyst support
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