IoT Market Size, Share, Growth, Trends Analysis And Global Forecast 2023-2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's IoT Global Market Report 2023 identifies the application of IoT in various industries such as automotive industry as the major driver for the IoT market's growth in the forecast period. The introduction of IoT in the automotive industry has opened up new opportunities for carmakers and consumers worldwide. IoT has become a popular hotspot for varied multifunctional applications in the automotive sector. IoT offers enhanced communication, control and data delivery at any transportation point.

The global iot market size will grow from $399.41 billion in 2022 to $486.7 billion in 2023 at a compound annual growth rate (CAGR) of 21.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global iot market size is expected to grow to $1057.55 billion in 2027 at a CAGR of 21.4%.

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Major competitors in the IoT market are Cisco Systems, Inc., Microsoft Corporation, Oracle Corporation, International Business Machine (IBM) Corporation, Google Inc., Hewlett-Packard Enterprise, Amazon Web Services Inc., Bosch Software Innovation GmbH, Huawei Technologies, Intel Corporation, AT & T Inc., Hitachi Data Systems, General Electric, Bright Wolf, C3 IoT, Carriots, Concirrus, Connio, Cumulocity, Davra Networks, Device Insight, EVRYTHNG, Exosite, Autodesk SeeControl, BlackBerry, Alcatel-Lucent, Fujitsu Ltd., Dell Inc., PTC Inc., and SAP SE.

A key trend in the IoT market includes Data analytics. Data analytics will help in analysis of IoT data in several areas such as data accuracy in time series, predictive and advanced analytics, data preparation, geospatial and location real-time (logistic data). In 2020, major cloud vendors such as Amazon, Microsoft and Google, are increasingly using data analytics for business improvement and various companies hope to expand their market share with AI algorithms capable of exploiting machine learning and deep learning, allowing businesses to derive more value and make informed decisions from the increasing data volumes.

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The IoT market is segmented -
•By Platform: Device Management, Application Management, Network Management
•By End Use Industry: BFSI, Retail, Government, Healthcare, Manufacturing, Transportation, IT & Telecom, Other End-User Industries
•By Application: Building And Home Automation, Smart Energy And Utilities, Smart Manufacturing, Connected Logistics, Smart Retail, Smart Mobility And Transportation, Other Applications
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the IoT market.

The Business Research Company's "Global IoT Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The IoT Market Include:
1. Executive Summary
2. Internet Of Things (IoT) Market Characteristics
3. Internet Of Things (IoT) Market Trends And Strategies
4. Internet Of Things (IoT) Market - Macro Economic Scenario
5. Internet Of Things (IoT) Market Size And Growth
……
26. Africa Internet Of Things (IoT) Market
27. Internet Of Things (IoT) Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Internet Of Things (IoT) Market
29. Internet Of Things (IoT) Market Future Outlook and Potential Analysis
30. Appendix

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