Press Releases

The global IoT market is anticipated to grow at a CAGR of 16.5% during the forecast period. Internet of Things (IoT) is a wide network of interconnected physical objects, or devices, that communicate and share data without the need for human intervention. The Internet of Things (IoT) is accelerating the industrial revolution of intelligent connectivity. IoT has been touted by businesses and service providers as a crucial enabler of digital transformation and operational efficiencies. This is redefining the business’s approach toward complex systems and machines in order to increase productivity and minimize downtime. They aid in the control and automation of a wide range of tasks and processes. Because IoT works in tandem with AI and machine learning technology, it offers substantial benefits to organizations. Moreover, the robust development in manufacturing, electronics, and IT sectors globally is gaining significant traction from consumers, thus intensifying the demand for IoT. The increased adoption of the internet, rising prominence of smartphones, industrialization and progression in the healthcare industry which gives rise to telehealthcare services will accelerate the growth of IoT market.

CBT, a woman-owned Domain Expert Integrator, announced in April 2022 that it will expand its leadership position in IoT and information technology (IT) and operational technology (OT) convergence by partnering with ABB, the world's leading global technology company in electrification, robotics, automation, and motion. CBT has joined the ABB Value Provider Program as a System Integrator channel partner, joining an elite group of channel partners at the highest level.

The COVID-19 outbreak has increased collaborations among vendors so as to provide technology-enabled solutions in the healthcare sector and overcome the crisis efficiently. The increased demand for cloud-based IoT solutions amidst COVID-19 crisis so as to establish better connectivity between interconnected devices will propel the growth of the IoT industry.

Browse 66 market data Tables and 40 Figures spread through 155 Pages and in-depth TOC on Internet of Things (IoT) Market by Components (Software Solutions (Smart Surveillance, Data Management, Device Management, Application Management, and Network Management), Platform (Application Management, Network Management, and Device Management), and Services (Professional Services and Managed Services), by Organization Size (Large Enterprises and Small & Medium-Size Enterprises), by Deployment Model (On-Premise and Cloud), by Vertical (BFSI, Healthcare, Manufacturing, Agriculture, IT & Telecom, Retail, Transportation, Sustainable Energy, Government & Defense, and Others), and Region - Global Forecast to 2030"

By vertical, the healthcare segment is expected to have the highest market share during the forecast period.

On the basis of vertical, the internet of things (IoT) market is categorized into BFSI, healthcare, manufacturing, agriculture, IT & telecom, retail, transportation, sustainable energy, and government & defense, and others. The healthcare category is anticipated to witness the highest market share during the study period. The Internet of Things (IoT) has made its way into the healthcare industry, with a range of applications including telemedicine, connected healthcare, out-patient monitoring, and connected ambulances, especially with the rise of COVID-19 cases. The latest COVID-19 outbreak has prompted IoT solution providers to immediately enable services to address virus prevention. COVID-19's rapid proliferation has resonated across the environment. In developed economies, for example, remote monitoring, particularly for geriatrics, is on the rise. Livongo Health, a provider of remote IoT monitoring services for chronic conditions, reported an unexpected increase in quarterly guidance.

Global Internet of Things (IoT) Market Segmentation and Key Players

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“North America is expected to account for largest share of Internet of Things (IoT) market throughout the forecast period.”

North America is anticipated to have the largest market share in the IoT market during the forecast period owing to increased investment in R&D activities, rapid growing digitalization in several industries, mounting adoption of smart connected devices, proliferation of smart transportation, and technological development in the region.

IBM, Royal Phillips, Stanley Healthcare, Microsoft, Oracle, Bosch, CloudMinds, XAG, CBT, PTC, Rockwell Automation, Honeywell, GE Digital, Intel, Siemens, Ericsson, Hitachi Vantara, ABB, NEC Corporation, Telit, Arad Group, NTT Communications, Happiest Minds, Cisco, Medtronic, Softweb Solutions, Google, hIOTron, Sony, Capgemini, Adobe, Sierra Wireless, Itron, Vodafone, TCS, DXC, Infosys, Verizon, Service Group, Cognizant, SAP, Software AG, AWS, and Accenture are some of the major companies operating in the global Internet of Things (IoT) market.

Components Insight and Forecast 2025-2030

• Software Solutions
• Platforms
• Services

Organization Size Insight and Forecast 2025-2030

• Large Enterprises
• Small and Medium Size Enterprises

Deployment Model Insight and Forecast 2025-2030

• On-Premise
• Cloud

Vertical Insight and Forecast 2025-2030

• BFSI
• Healthcare
• Manufacturing
• Agriculture
• IT & Telecom
• Retail
• Transportation
• Sustainable Energy
• Government & Defense
• Others

Geographical Segmentation

Internet of Things (IOT) Market by Region

North America

• By Components
• By Organization Size
• By Deployment Model
• By Vertical
• By Country – U.S., Canada, and Mexico

Europe

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

Asia-Pacific (APAC)

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

Rest of the World (RoW)

• By Components
• By Organization Size
• By Deployment Model
• By Vertical
• By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries