Global IoT Market Drives Towards $1057.55 Billion by 2027 – EIN News

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IoT Global Market Report 2023 : Market Size, Trends, And Global Forecast 2023-2032

The Business Research Company’s IoT Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

The Global Market Report for IoT by The Business Research Company, presenting insights into market size, trends, and offering a global forecast for the period 2023-2032.”

— The Business Research Company

LONDON, GREATER LONDON, UK, December 12, 2023 / — The global IoT market is on a trajectory of robust growth, set to escalate from $399.41 billion in 2022 to $486.7 billion in 2023, displaying a Compound Annual Growth Rate (CAGR) of 21.9%. Despite short-term disruptions caused by the Russia-Ukraine war on global economic recovery from the COVID-19 pandemic, the market is anticipated to surge to $1057.55 billion by 2027, maintaining a CAGR of 21.4%.

The global Internet of Things (IoT) market, marked by dynamic segmentation, caters to diverse industry needs, distinguished across key categories:
1. By Platform:
• Device Management
• Application Management
• Network Management

2. By End-Use Industry:
• Retail
• Government
• Healthcare
• Manufacturing
• Transportation
• IT & Telecom
• Other End-User Industries

3. By Application:
• Building And Home Automation
• Smart Energy And Utilities
• Smart Manufacturing
• Connected Logistics
• Smart Retail
• Smart Mobility And Transportation
• Other Applications

Automotive Industry Paves the Way
The integration of IoT in various industries, particularly the automotive sector, acts as a significant driver for IoT market expansion. The automotive industry is witnessing a revolution with IoT, offering enhanced communication, control, and data delivery at every transportation point. Major players such as Mercedes-Benz, Volkswagen, Volvo, Toyota, and Google Inc. are investing heavily in developing smart cars, providing consumers with healthier, more convenient, and enjoyable driving experiences. UBS predicts that by 2030, 12% of total car sales will be for autonomous taxi fleets, with approximately 26 million driverless taxis in operation worldwide.

Explore the global IoT market with a detailed sample report:

Key Players Shaping the Landscape
Major players in the IoT market, steering innovation and growth, include Cisco Systems, Inc., Microsoft Corporation, Oracle Corporation, International Business Machine (IBM) Corporation, Google Inc., Hewlett-Packard Enterprise, Amazon Web Services Inc., Bosch Software Innovation GmbH, Huawei Technologies, Intel Corporation, AT & T Inc., Hitachi Data Systems, General Electric, Bright Wolf, C3 IoT, Carriots, Concirrus, Connio, Cumulocity, Davra Networks, Device Insight, EVRYTHNG, Exosite, Autodesk SeeControl, BlackBerry, Accenture PLC., Alcatel-Lucent, Fujitsu Ltd., Dell Inc., PTC Inc., and SAP SE.

Regional Dominance: Asia-Pacific Leads the Way
Asia-Pacific emerges as the largest region in the IoT market in 2022, closely followed by North America as the second-largest region. The global market encompasses regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Access the complete report for detailed regional insights:

IoT Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The IoT Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on iot market size, iot market drivers and iot market trends, iot market major players, iot market share, iot market analysis, iot market strategies, iot market competitors’ revenues, iot market positioning, and iot market growth across geographies. The iot market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Global Market Model – Market Intelligence Database
The Global Market Model, The Business Research Company’s flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess supply-demand gaps.

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Oliver Guirdham
The Business Research Company
+44 20 7193 0708
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