Description
Market Overview
Global impact of COVID-19 on Internet of Things (IoT) market size is expected to grow from USD 150 billion in 2019 to USD XXX billion by 2030, at a Compound Annual Growth Rate of XX% during the forecast period. Factors such as increased focus on remote monitoring, growing smart payments technology in order to minimize human interaction in cash payments and rising wearable devices demand drive the market growth.
Internet of things Market: Segments
The Internet of things Market can be segmented on the basis of component, vertical, and region.
By technology it can be classified into software segment, platform and services. The software segment is predicted to grow with highest CAGR of 20.24% over the forecast period. The software segment is to hold the largest market as with the rising covid-19 IoT software solutions such as manufacturing and others have taken a big hit, but organizations are changing their priorities.
Internet of things Market: Drivers and Restraints
Remote-based monitoring of workforce will increase the market growth
Industries have shut down or are running at 25% capacity amidst this pandemic, majority of the countries have provided work from home facility for employees. To manage the employee’s companies are looking up to remote-based monitoring of workforce which is a major driver of IoT solutions. This helps in bringing transparency, improve safety, provide real-time tracking and ensure meeting governments compliance.
Restraints
Customer expectations is a restrain in the IoT market
The major restraints in the internet of things market are meeting the expectations of the customer in terms of process optimization, keeping the IoT hardware updated, easing security concerns due to various connected networks, connectivity issues, waiting for government regulations.
The Internet of things Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Internet of things Market: Key players
• Royal Phillips
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• IBM
• Microsoft
• Bosch
• Happiest minds
• Infosys
• Google
• Vodafone
• Cisco
• AWS
• SAP
The Internet of things Market report also contains analysis on:
• Internet of things Market segments: –
• By technology:
o Software
o Platform
o Services
• By vertical:
o Banking financial services and insurance
o Healthcare
o Retail
o Transportation
o Utilities
o Government and defense
• Internet of things Market dynamics
• Internet of things Market size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints
