Internet of Things (IoT) Market Share, Size 2021: Industry Analysis, Size, Share, Growth, Trends, and Forecasts –2030

In a recent published report, Kenneth Research has updated the market report for Internet of Things (IoT) Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

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.

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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

Global IoT Market is estimated to reach $1599.3 Billion by 2024; growing at a CAGR of 21.1% from 2016 to 2024. Internet of Things (IoT) is a network of connected physical objects that contain embedded technology which enables collection and exchange of data with external environment. IoT enables an organization to reduce operational costs through enhanced process efficiency, productivity, and asset utilization. IoT are also capable of remotely controlling an object, creating new prospects for more and enhanced direct integration of physical objects and network, and also augments the accurateness and efficiency, along with reduced human intervention.

The global IoT market is driven by factors such as, development of advanced wireless network technologies, rising penetration of Wi-Fi connectivity, high demand for smart wearable devices, increasing adoption of cloud-based platforms, and rising application of IoT. Though, factors including increased demand for improved bandwidth, and rising security risks related to lack of upgradation and merger of database and data types would hamper the market growth. Additionally, increasing popularity of smart homes, and rise in common security models would offer several growth opportunities in years to come.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

The Internet of Things market is bifurcated as technology, application, and geography. Technology is bifurcated as Bluetooth Low Energy (BLE), ZigBee, Wi-Fi, Near Field Communication (NFC), and RFID. Furthermore, application is categorized as industrial, healthcare, retail, automotive, consumer electronics, and others.

Based on geography, Internet of Things market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada and Mexico whereas Europe consist of UK, Germany, France, Italy, and others. Asia-Pacific is segmented into India, China, Japan, and others while, RoW is bifurcated into South America, Middle East and Africa.

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The key market players include Cisco Systems Inc., Google Inc., Microsoft Corporation, International Business Machine (IBM) Corporation, Intel Corporation, Hewlett Packard Enterprise, Amazon web services, SAP SE, Oracle Corporation, and Bosch Software innovation GmbH, among others.

The key takeaways from the report:
The report will provide detailed analysis of Global IoT Market with respect to major segments such as technology, and application
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024

Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global IoT Market has been included in the report

Profile of the key players in the Global IoT Market will be provided, which include key financials, product & services, new developments and business strategies

Scope of the Global IoT Market:

Technology Segments
Bluetooth Low Energy (BLE)
Near Field Communication (NFC)
Application Segments
Consumer Electronics
Other Applications
Geographical Segments
North America
Asia Pacific
South America
Middle East

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Table of Contents
Chapter 1 Prefix
1.1 Market Scope
1.2 Report Description
1.3 Research Methodology
1.3.1 Primary Research
1.3.2 Secondary Research
1.3.3 In-house Data Modeling
Chapter 2 Executive Summary
Chapter 3 Market Outline
3.1 Market Inclination, Trend, Outlook and Viewpoint
3.2 Market Share Analysis: Company’s Competitive Scenario
3.3 Market Dynamics
3.3.1 Drivers Impact Analysis
3.3.2 Restraints Impact Analysis
3.3.3 Opportunities

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