Global Internet Of Things (Iot) Market

The global Internet of Things (IoT) Market was valued at USD 289,102.3 Million in 2020, and it is expected to reach a value of USD 1,721,231.5 Million by 2027, at a CAGR of more than 22.75 % over the forecast period (2021 - 2027).

The Internet of Things (IoT) is a network of networked devices that execute a single or a group of functions. Networking technology links multiple components incorporated inside a system using software, electronics, sensors, and wireless chips. IoT is critical in the development of smart communication settings such as smart homes, smart transportation, smart healthcare, smart retail, and so on.

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Segmental Analysis
Internet of Things (IoT) market is segmented in software solution as data management, security solution, network bandwidth management, remote monitoring system, and real-time streaming analytics. By platform the market is segmented into network management, application management, and device management. By service the market is segmented into consulting service, support and maintenance, deployment and integration, managed service, and professional service. By application the market is segmented into smart manufacturing, smart energy & utilities, smart mobility & transportation, building & home automation, smart retail, connected logistics, and others. By region, the market is analyzed across North, Europe, Asia-Pacific and LAMEA.

Top Players Company Profiles
• Amazon Web Services, Inc. (US)
• Intel Corporation (US)
• Microsoft Corporation (US)
• PTC Inc. (US)
• Robert Bosch GmbH (Germany)
• Cisco Systems, Inc. (US)
• IBM Corporation (US)
• Oracle Corporation (US)
• SAP SE (Germany)
• Siemens AG (Germany)

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Recent Developments
• In January 2022, PTC established a partnership with Schaeffler Group, a German company, to install a whole IT landscape. The new partnership will boost Schaeffler's digital twin and 3D model visualisation ambitions.
• In May 2021, SAP SE and Honeywell have announced Honeywell Forge Real Estate Operations, a connected building solution capable of offering operators with enhanced insights through making smart real-estate choices. For its analytics applications, the system connects SAP's IT data with Honeywell's OT data.