Internet of Things Market Global Industry Trends, Future Growth, Regional Overview and Growth Forecast Outlook till 2026

Organizations around the world are increasingly adopting advanced technologies, which is driving the Global Internet of Things Market. Fortune Business Insights™ in the latest report states that IoT technology holds significant potential in the ICT sector. As per the report, the global market was valued at US$ 190.0 Bn in the year 2018 and is anticipated to reach US$ 1111.3 Bn by 2026. The analysts predict that the global market will expand at a ferocious CAGR of 24.7% throughout the forecast years.

Top Key Players Mentioned:

Google LLC
Intel Corporation
Microsoft Corporation
Cisco Systems, Inc.,
Apple Inc.,
Oracle Corporation
The Hewlett-Packard Company
Facebook, Inc.,
Dell Technologies.

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“Apple, Dell, Cisco are Among the Leading Players in the Market”

Key players in the global IoT market are Using IoT platforms such as application management, device management, and network management to sustain the market. Google LLC, Cisco Systems, Inc., The Hewlett-Packard Company, Microsoft Corporation, Dell Technologies, Apple Inc., Oracle Corporation, Facebook and Intel Corporation are some of the leading companies in the global market. These companies are increasingly using cloud-computing networks across several platforms. Some companies are likely to invest in research and development (R&D) activities in order to develop innovative IoT solutions. Such activities are expected to help companies gain an edge over the competition.

Internet of Things Market Segmentation:

By Platform
Device Management
Application Management
Network Management
By Software & Services
Software Solution
Services
By End-Use Industry
BFSI
Retail
Governments
Healthcare
Manufacturing
Transportation
IT & Telecom
Others
By Geography
North America (USA and Canada)
Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, Australia, Southeast Asia and Rest of Asia Pacific)
Latin America (Mexico, Brazil and Rest of Latin America)
Middle East & Africa (GCC, South Africa and Rest of the Middle East & Africa)

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“Growing Demand for Smart Devices in Canada and the U.S. Drives the Market in North America”

In 2018, the internet of things market in North America covered US$ 83.9 Bn. The region is anticipated to lead the global IoT market through the forecast period. Large-scale adoption of technologies such as Cloud computing and Artificial Intelligence (AI) in this region contributes to the growth of the market. Several mergers and acquisitions (M&A) between leading players and IT companies in North America is another factor driving the market. Apart from North America, other regions such as Asia Pacific and Europe are expected to grow considerably in the forecast years.

“BFSI Segment Leads the Market by Covering 21.1% Share”

Banking and Financial Institutions (BFSI) accounts for the majority of share in the global IoT market. This segment offers ample growth opportunities as the demand for IoT solutions in the banking sector is increasing rapidly. Customer relationship with banks has transformed over the years with this new era of connectivity. The adoption of IoT in banking helps to make faster payments and enhances operational efficiency. Not only this, IoT technology allows credit and debit cardholders to easily access banking services. Moreover, several banking firms are planning to use this technology in order to improve the banking experience of their customers by making it more personal. According to the report, in 2019, the BFSI segment holds a share of 21.1% in the global internet of things market. With the increasing adoption of cloud computing solutions, the BFSI sector is expected to rise at a substantial share during the forecast period.

“Mounting Demand for Real-time Data Offers Fillip to the Market”

“IoT technology offers digital transformation to organizations by either upgrading their existing processes or creating a new one,” states a lead analyst at Fortune Business Insights™. “Small-scale enterprises are also adopting IoT solutions with an aim to enhance their productivity and cost-efficiency,” he added. IT industry is aggressively adopting cloud-based solutions to gain easy access to enormous amounts of data. This will further provide significant impetus to the market. The demand for real-time data among businesses is increasing at an exponential rate. This, coupled with increasing penetration of automation, is expected to create growth opportunities for the market by 2026. By adopting the internet of things (IoT) solutions, enterprises can gain real-time insights into their business, which can eventually enhance their decision-making processes. IoT offers several software solutions which include security, remote monitoring, network band management, and real-time streaming analytics. Against this backdrop, the demand for IoT applications is likely to increase over the next few years.

Major Table of Contents:

Introduction
Definition, By Segment
Research Approach
Sources
Executive Summary
Market Dynamics
Drivers, Restraints and Opportunities
Emerging Trends
Key Insights
Macro and Micro Economic Indicators
Industry SWOT Analysis
Porter’s Five Forces Analysis
Global Internet of Things (IoT) Market Analysis, Insights and Forecast, 2015-2026
Key Findings / Summary
Market Size Estimates and Forecasts – By Platform (US$ Bn)
Device Management
Application Management
Network Management
Market Size Estimates and Forecasts – By Software & Services (US$ Bn)
Software Solution
Real-Time Streaming Analytics
Security
Data Management
Remote Monitoring
Network Band Management
Services
Market Size Estimates and Forecasts – By End-Use Industry (US$ Bn)
BFSI
Retail
Government
Healthcare
Manufacturing
Transportation
IT & Telecom
Others
Market Size Estimates and Forecasts – By Geography
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
North America Internet of Things (IoT) Market Analysis, Insights and Forecast, 2015-2026
Key Findings / Summary
Market Size Estimates and Forecasts – By Platform (US$ Bn)

TOC Continued…!

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