Global Internet of Things (IoT) Market is estimated to be USD 255.0 billion in 2020 and is predicted to reach USD 1,560.0 billion by 2025, growing at a CAGR of 43.7% during the forecast period (2020-2025)

Published Date: Sep, 2020

The report "Internet of Things (IoT) Market by Components (Software Solutions, Platforms, and Services), by Vertical (BFSI, Healthcare, Manufacturing, Retail, Transportation, Utilities, and Government & Defense) - Global Forecast to 2025", market is estimated to be USD 255.0 billion in 2020 and is predicted to reach USD 1,560.0 billion by 2025, growing at a CAGR of 43.7% during the forecast period. The edge computing is going to have upper hand in achieving the success of internet of things market. Cost reduction and power enhancement of the connected devices employed in the IoT by increasing its computing capabilities, allows huge bandwidth savings. It also ensures greater compliance and privacy regulations.  

In recent times remote access management has become an important parameter in connecting other businesses. Conference tools such as Zoom are booming across the globe, as they connect people remotely. Similarly, remote access tools are also in demand as they can connect people with machines and other workbenches. It enables individuals remotely communicate with machine and to carry out visual inspections. Librestream, competitor of Zoom, has recently reported surge in installation of remote access software.

Browse 46 market data Tables and 30 Figures spread through 155 Pages and in-depth TOC on "Internet of Things (IoT) Market by Components (Software Solutions, Platforms, and Services), by Vertical (BFSI, Healthcare, Manufacturing, Retail, Transportation, Utilities, and Government & Defense) - Global Forecast to 2025"

On the basis of application, the internet of things (IoT) market is categorized into BFSI, healthcare, manufacturing, retail, transportation, utilities, and government & defense. The healthcare segment is expected to hold highest growth rate over the forecast period. With the rising cases of COVID-19, the IoT has found its way in the healthcare sector, offering numerous applications, such as telemedicine, connected healthcare, out-patient monitoring, and connected ambulances. The recent outbreak of COVID-19 has led to the IoT solution providers to quickly enable services to tackle protection from virus. The fast spreading of COVID-19 has created ripples in the entire ecosystem. For instance, remote monitoring, particularly for geriatrics is on rise in developed economies. Livongo Health, provider of remote IoT monitoring services for the chronic diseases has shown an unexpected rise in their quarterly guidance.

Global Internet of Things (IOT) Market Segmentation Analysis

Segment

Categorization

Leading Category

Components

Software Solutions, Platforms, and Services

Software (Largest)

Vertical

BFSI, Healthcare, Manufacturing, Retail, Transportation, Utilities, and Government & Defense

Healthcare (Fastest)

Region

North America, Europe, Asia-Pacific, and Rest of the World

North America (Largest)

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“North America to hold the largest regional market share in 2019.”

North America is the largest revenue contributor in the IOT market due to growth of pandemic massively in the region. As the covid-19 impact continues to spread in North America, the logistics and supply chain operations are being affected dramatically. Consumer goods, retail, and industrial goods are few notable industries that are hardly hit by coronavirus outbreak. Disruptions in the supply chain has caused ripples across several industries which might have both long term and short term impact on businesses. The quarantine measures have made difficult for freight service providers to operate smoothly across the country.

Some of the major players in the global IOT market include IBM (US), Royal Phillips (Netherlands), Stanley Healthcare (US), Microsfot (US), Oracle (US), Bosch (Germany), CloudMinds (US), XAG (China), CBT (US), PTC (US), Rockwell Automation (US), Honeywell (US), GE Digital (US), Intel (US), Siemens (Germany), Ericsson (Sweden), Hitachi Vantara (US), ABB (Switzerkland), NEC Corporation (Japan), Telit (UK), Sierra Wireless (Canada), Itron (US), Arad Group (Israel), Cisco (US), Medtronic (Ireland), SAP (Germany), Software AG (Germany) AWS (US), Softweb Solutions (US), Google (US), hIOTron (India), Sony(Japan), Capgemini (France), Adobe (US), NTT Communications (Japan), Happiest Minds (India), Vodafone (UK), TCS (India), DXC (US), Infosys (India), Verizon (US), Service Group (US), Cognizant (US), and Accenture (Ireland).

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2025

Historical Period

2015–2019

Base Year

2019

Forecast Period

2020–2025

Segments Covered in the Study

Component, Vertical, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

IBM (US), Royal Phillips (Netherlands), Stanley Healthcare (US), Microsfot (US), Oracle (US), Bosch (Germany), CloudMinds (US), XAG (China), CBT (US), PTC (US), Rockwell Automation (US), Honeywell (US), GE Digital (US), Intel (US), Siemens (Germany), Ericsson (Sweden), Hitachi Vantara (US), ABB (Switzerkland), NEC Corporation (Japan), Telit (UK), Sierra Wireless (Canada), Itron (US), Arad Group (Israel), Cisco (US), Medtronic (Ireland), SAP (Germany), Software AG (Germany) AWS (US), Softweb Solutions (US), Google (US), hIOTron (India), Sony(Japan), Capgemini (France), Adobe (US), NTT Communications (Japan), Happiest Minds (India), Vodafone (UK), TCS (India), DXC (US), Infosys (India), Verizon (US), Service Group (US), Cognizant (US), and Accenture (Ireland)

Global Internet of Things (IoT) Market Coverage

Components Insight and Forecast 2015-2025

  • Software
  • Solutions
  • Platforms
  • Services

Vertical Insight and Forecast 2015-2025

  • BFSI
  • Healthcare
  • Manufacturing
  • Retail
  • Transportation
  • Utilities
  • Government & Defense

Geographical Segmentation

Internet of Things (IOT) Market by Region

North America

  • By Components
  • By Vertical
  • By Country – U.S., Canada, and Mexico

Europe

  • By Components
  • By Vertical
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Components
  • By Vertical
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Components
  • By Vertical
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries
Our Industry
Global Internet of Things (IoT) Market is estimated to be USD 255.0 billion in 2020 and is predicted to reach USD 1,560.0 billion by 2025, growing at a CAGR of 43.7% during the forecast period (2020-2025)