Internet of Things (IoT) Market by Platform (Device Management, Application Management and Network Management), Application, End User and Region - Global Industry Analysis, Opportunities and Forecast up to 2029

The global Internet of Things (IoT) market size was valued at $709.21 billion in 2023 and is projected to reach $2,247.98 billion by 2029, growing at a CAGR of 21.2% during the forecast period.

• Some of the key factors driving the IoT market include increasing adoption of 5G networks, rising smart city initiatives, and rapid growth and technological advancements in data analytics.
 
• Additionally, the development of wireless networking technologies such as Wi-Fi, Bluetooth, ZigBee, Z-Wave, Insteon, and Digital enhanced cordless telecommunications is expected to boost the market towards the greater demand over the forthcoming years.
 
• However, issues with data security and privacy concerns, and interoperability, and lack of common standards are restraining the growth of the market.

The concept of the Internet of Things (IoT) is simple, although its capability is unlimited and its usage can change the entire paradigm of legacy technology. This technology is based on embedding a network interface into objects, allowing communications among them to provide various services for users. Subsequently, each object will have its identifier, such as an Internet Protocol address (IP address) in the current Internet which can connect and communicate with other objects through the IoT networking environment. IoT is projected to change human life and open a larger and even more innovative market than its predecessor. Additionally, the IoT environment is not specifically considered at the device level. It is also concentrated on the infrastructure side, such as gateways for billions of devices, services, user-centric information-sharing services, Big Data, and customized data for the users. This growth is primarily driven by advancements in wireless networking technologies, increasing cloud platform adoption, and the introduction of advanced data analytics and data processing.

By End User, the Manufacturing Emerge as the Dominant Industry

The manufacturing industry is expected to have a huge demand in the forecast period. Manufacturing entities are aggressively adopting digital manufacturing technologies and IoT plays a vital role in such advanced technologies. The market is poised for substantial growth in the near future in line with the strategic partnerships and alliances stakeholders are striking and the need for a connected supply chain to ensure flexibility, operational efficacy, and regulatory compliance, which is rising continuously. Since the inception of Industry 4.0, the penetration of AI and IoT technologies in the manufacturing sector has been increasing rapidly. AI- and IoT-integrated systems allow optimization of manufacturing processes, send early alerts, contribute to quality control, and forecast equipment failure in machinery.

By Geography, North America Region is Projected to Strong Presence in the Global Market

North America is experiencing significant demand owing to the increasing adoption of IoT, especially in the industrial and automotive sectors. The early acceptance of emerging technologies, strong investments in R&D, increasing adoption of smart connected devices, and the start-up culture in North America have amplified the growth of IoT in this region. Moreover, US and Canada are the major contributors to the IoT market of this region.

List of the Key Players Profiled in the Market Include:
• Cisco Systems, Inc.
• Amazon Web Services Inc.
• The Hewlett Packard Company
• AT&T Inc.
• Aeris Communications Inc
• Fujitsu Ltd
• General Electric Company
• Google Inc.
• Honeywell International Inc.
• Huawei Technologies Co. Ltd
• IBM Corporation
• Intel Corporation
• Koninklijke Philips NV
• Microsoft Corporation
• Nokia Corporation
• Oracle Corporation
• PTC Inc.
• Robert Bosch GmbH
• SAP SE
• Siemens AG
• Telefonaktiebolaget LM Ericsson
• Wipro Ltd

What Can be Explored with this Research Report:
• Understand the key trends that will drive the market, challenges it faces in the current market scenario.
• Identify growth opportunities.
• Porter’s five force analysis.
• In-depth analysis of market segments and regions/countries predicted to observe promising growth.
• Historical and forecast size of the market in terms of revenue (USD Million).
• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Global Internet of Things (IoT) Market by, Platform
• Device Management
• Application Management
• Network Management

Global Internet of Things (IoT) Market by, Application
• Building and Home Automation
• Smart Energy and Utilities
• Smart Manufacturing
• Connected Logistics
• Smart Retail
• Smart Mobility and Transportation
• Other Applications

Global Internet of Things (IoT) Market by, End Users
• BFSI
• Retail
• Government
• Healthcare
• Manufacturing
• Transportation
• IT and Telecom
• Energy and Utilities
• Agriculture
• Other End Users

Global Internet of Things (IoT) Market by, Geography
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Table Of Content

1 Market Overview          
    1.1 Introduction      
    1.2 Research Objectives     
    1.3 Market Segmentation     
    1.4 Stakeholders      
    1.5 List of Acronyms      
             
2 Executive Summary          
            
3 Research Methodology         
    3.1 Identification of Data     
    3.2 Evaluation of Market Dynamics    
    3.3 Collaboration of Data     
    3.4 Verification and Analysis     
    3.5 Data Sources      
    3.6 Assumptions      
            
4 Market Dynamics          
    4.1 Market Drivers      
            4.1.1 Increasing adoption of 5G networks
            4.1.2 Rising smart city initiatives
    4.2 Market Restraints      
            4.2.1 Issues with data security and privacy concerns
    4.3 Impact of COVID-19 on Internet of Things (IoT) Market  
            
5 Porter's Five Force Analysis         
    5.1 Bargaining Power of Suppliers     
    5.2 Bargaining Power of Buyers      
    5.3 Threat of New Entrants     
    5.4 Threat of Substitutes     
    5.5 Competitive Rivalry in the Market    
            
6 Global Internet of Things (IoT) Market by, Platform       
    6.1 Overview      
    6.2 Device Management      
    6.3 Application Management     
    6.4 Network Management     
            
7 Global Internet of Things (IoT) Market by, Application      
    7.1 Overview      
    7.2 Building and Home Automation    
    7.3 Smart Energy and Utilities     
    7.4 Smart Manufacturing     
    7.5 Connected Logistics      
    7.6 Smart Retail      
    7.7 Smart Mobility and Transportation    
    7.8 Other Applications      
            
8 Global Internet of Things (IoT) Market by, End Users      
    8.1 Overview      
    8.2 BFSI       
    8.3 Retail       
    8.4 Government      
    8.5 Healthcare      
    8.6 Manufacturing      
    8.7 Transportation      
    8.8 IT and Telecom      
    8.9 Energy and Utilities      
    8.10 Agriculture      
    8.11 Other End Users      
            
9 Global Internet of Things (IoT) Market by, Geography      
    9.1 Overview      
    9.2 North America      
    9.3 Europe       
    9.4 Asia Pacific      
    9.5 South America      
    9.6 Middle East & Africa     
            
10 Key Developments          
            
11 Company Profiling          
    11.1 Cisco Systems, Inc.      
            11.1.1 Business Overview
            11.1.2 Product/Service Offering
            11.1.3 Financial Overview
            11.1.4 SWOT Analysis
            11.1.5 Key Activities
    11.2 Amazon Web Services Inc.     
    11.3 The Hewlett Packard Company    
    11.4 AT&T Inc.       
    11.5 Aeris Communications Inc     
    11.6 Fujitsu Ltd      
    11.7 General Electric Company     
    11.8 Google Inc.      
    11.9 Honeywell International Inc.     
    11.10 Huawei Technologies Co. Ltd     
    11.11 IBM Corporation      
    11.12 Intel Corporation      
    11.13 Koninklijke Philips NV     
    11.14 Microsoft Corporation     
    11.15 Nokia Corporation      
    11.16 Oracle Corporation      
    11.17 PTC Inc.       
    11.18 Robert Bosch GmbH      
    11.19 SAP SE       
    11.20 Siemens AG      
    11.21 Telefonaktiebolaget LM Ericsson    
    11.22 Wipro Ltd