Internet of Things (IoT) Market

Global Internet Of Things (IoT) Market Size, Share, Growth Analysis, By Component Type(Hardware, Software), By Application(Smart Manufacturing, Smart Energy & Utilities) - Industry Forecast 2024-2031

Report ID: SQMIG45D2038 | Region: Global | Published Date: April, 2024
Pages: 157 | Tables: 69 | Figures: 75

Global Internet Of Things (IoT) Market Competitive Landscape

The global Internet of Things (IoT)market is fragmented, with a prominent market player acquiring a sizable portion. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market.

Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market.

The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective.

Internet of Things (IoT) Market Top Players Company Profiles

  • Microsoft
  • Cisco Systems
  • Intel
  • Siemens (Germany)
  • AWS (US) 
  • Oracle (US) 
  • Qualcomm (UK) 
  • SAP (Germany) 
  • IBM (US) 
  • Google (US) 
  • Hitachi (Japan) 
  • GE Digital (US) 
  • PTC (US) 
  • ARM (UK) 
  • Software AG (Germany) 
  • Particle (US) 
  • Losant (US) 
  • Samsara (US) 
  • Litmus Automation (US) 
  • Confidex (Finland)

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Global Internet of Things (IoT) market was valued at USD 318.8 billion in 2019 and is poised to grow from USD 380.6 billion in 2023 to USD 1572.37 billion by 2031, growing at a CAGR of 19.4% during the forecast period (2024-2031).

The global Internet of Things (IoT)market is fragmented, with a prominent market player acquiring a sizable portion. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. 'Microsoft', 'Cisco Systems', 'Intel', 'Siemens (Germany)', 'AWS (US) ', 'Oracle (US) ', 'Qualcomm (UK) ', 'SAP (Germany) ', 'IBM (US) ', 'Google (US) ', 'Hitachi (Japan) ', 'GE Digital (US) ', 'PTC (US) ', 'ARM (UK) ', 'Software AG (Germany) ', 'Particle (US) ', 'Losant (US) ', 'Samsara (US) ', 'Litmus Automation (US) ', 'Confidex (Finland)'

Sensors are the most critical components of IoT devices. They aid in the generation of data about a physical event or state. Sensors can measure everything from orientation, motion, light, sound, humidity, and temperature to biometrics like blood pressure and heart rate.  

Organizations have tremendous opportunities in the global IoT market to extract relevant data, such as consumer behaviour in retail outlets, for real-time marketing analysis, sensor-driven decision analytics, and instantaneous control response in complex autonomous systems. These will shape internet of things market trends.  

The presence of major technology providers has resulted in North America being a dominant force in the IoT market. The market entry of technological behemoths such as Cisco, Google Inc., and Samsung have resulted in the development of innovative connectivity solutions across a wide range of applications and devices. The major issues being addressed by regulators in the United States is to create a connected environment for optimal security are privacy and data security on the Internet of Things scenario.  

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