What is the global market size of Internet Of Things (IoT) Market?

Global Internet of Things (IoT) market was valued at USD 318.8 billion in 2022 and is poised to grow from USD 380.6 billion in 2023 to USD 1572.37 billion by 2031, growing at a CAGR of 19.4% during the forecast period (2024-2031).

Who are the key vendors in the Global Internet Of Things (IoT) Market?

The global Internet of Things (IoT)market is fragmented, with a prominent market player acquiring a sizable portion. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. 'Microsoft', 'Cisco Systems', 'Intel', 'Siemens (Germany)', 'AWS (US) ', 'Oracle (US) ', 'Qualcomm (UK) ', 'SAP (Germany) ', 'IBM (US) ', 'Google (US) ', 'Hitachi (Japan) ', 'GE Digital (US) ', 'PTC (US) ', 'ARM (UK) ', 'Software AG (Germany) ', 'Particle (US) ', 'Losant (US) ', 'Samsara (US) ', 'Litmus Automation (US) ', 'Confidex (Finland)'

What is the key market trend for Global Internet Of Things (IoT) Market?

Organizations have tremendous opportunities in the global IoT market to extract relevant data, such as consumer behaviour in retail outlets, for real-time marketing analysis, sensor-driven decision analytics, and instantaneous control response in complex autonomous systems. These will shape internet of things market trends.

Internet Of Things (iot) Companies

Internet Of Things (IoT) Market Competitive Landscape

Product launches, innovations, mergers, and acquisitions, collaborations and partnerships are some of the growth strategies that are adopted by these key players to thrive in the competitive market. Additionally, these key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective.

Internet of Things (IoT) Market Top Players Company Profiles

Cisco (US)
Amazon.com, Inc. (US)
Bosch (Germany)
PTC (US)
Microsoft (US)
Qualcomm (US)
SAP (Germany)
General Electric (US)
Huawei (China)
Intel (US)
Google (US)
ABB (Switzerland)
Samsung (South Korea)
ASUS (Taiwan)
Xiaomi (China)
Siemens (Germany)
Honeywell (US)
Rockwell Automation (US)
Hitachi (Japan)
3M Company (US)

Internet of Things (IoT) Market

FAQs

Internet Of Things (IoT) Market size was valued at USD 380.6 Billion in 2023 and is poised to grow from USD 454.44 Billion in 2024 to USD 1877.41 Billion by 2032, growing at a CAGR of 19.4% during the forecast period (2025-2032).

The global internet of things (IoT) market is fragmented, with a prominent market player acquiring a sizable portion. The prominent players operating in the market are constantly adopting various growth strategies to stay Infront within the market. 'Cisco (US) ', 'Amazon.com, Inc. (US) ', 'Bosch (Germany) ', 'PTC (US) ', 'Microsoft (US) ', 'Qualcomm (US) ', 'SAP (Germany) ', 'General Electric (US) ', 'Huawei (China) ', 'Intel (US) ', 'Google (US) ', 'ABB (Switzerland) ', 'Samsung (South Korea) ', 'ASUS (Taiwan) ', 'Xiaomi (China) ', 'Siemens (Germany) ', 'Honeywell (US) ', 'Rockwell Automation (US) ', 'Hitachi (Japan) ', '3M Company (US)'

Sensors are the most critical components of IoT devices. They aid in the generation of data about a physical event or state. Sensors can measure everything from orientation, motion, light, sound, humidity, and temperature to biometrics like blood pressure and heart rate. These sensors will drive the practicality of IoT across industries and application areas. Furthermore, continued sensor technology innovation is expected to expand IoT capabilities

Integration of the new technologies is a key trend of the IoT Market: In recent years, we have seen that the market of IoT devices has experienced rapid growth due to high adoption of these devices in various industries. Technological advancements and Integration seem to be one of the emerging trends for IoT market. Integration of Artificial Intelligence, Machine Learning, Natural Learning Processing, Deep Learning, Generative AI and blockchain technologies will be propelling the market in the coming years. By connecting these technologies with IoT devices, key players are offering pioneering solutions that directly hit the market growth upward.

North America has emerged as the largest market region in 2023. Within the global IoT market, North America holds approximately 42% market share. The presence of major technology providers has resulted in North America being a dominant force in the IoT market. The market entry of technological behemoths such as Cisco, Google Inc., and Samsung have resulted in the development of innovative connectivity solutions across a wide range of applications and devices. Government Initiatives and supports further propels the IoT market in the region. For instance, in 2023, US Government launched Internet of Things (IoT) cybersecurity labelling program to help Americans ensure they are buying internet-connected devices that include strong cybersecurity protections against cyberattacks.

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Internet Of Things (IoT) Market Competitive Landscape

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What is the global market size of Internet Of Things (IoT) Market?

Who are the key vendors in the Internet Of Things (IoT) Market?

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What is the key market trend for Internet Of Things (IoT) Market?

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