IoT Market Key Highlights:
- Market Size (2024): USD 38.28 Billion
- Projected Market Size (2034): USD 115.74 Billion
- CAGR (2023-2034): 11.7%
Pricing Analysis:
- Price Growth
- Regional Variations
Market Historic Sales
- Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
- Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
- Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
- Analysis of revenue contributions from different manufacturers in the market.
IoT Market Definition
The IoT (Internet of Things) market implies the overall context that includes all the technologies, devices, services, and applications that allow the connection of physical objects to the Internet on the global stage. The Internet of Things (IoT) is defined as the extension of the Internet to the physical world by connecting a wide variety of objects using embedded communications, software, sensors, and other platforms for data transmission and exchange. It acts as a worldwide network that all individuals can connect through changing means of communication. It is projected that generative AI, as a technology that implements machine learning algorithms to create new information, can enhance existing IoT systems, by improving predictive maintenance, anomaly detection, fraud detection, synthetic data generation, tailored recommendations, and energy management.
Also, blockchain technologies are in the picture to speed up the growth of the IoT market. Devices associated with the IoT are known to create enormous amounts of data. A blockchain-oriented framework provides very basic and dispersed security for connected devices. In this case, blockchains based on IoT will be able to log the time-of-arrival and the state of each shipping container, temperature, and its location if it is always on the move.
IoT Market Segmentation:
By Type
- Perception Technology
- Network Technology
- Application Technology
By Application
- Artificial Intelligence
- Connectivity
- Networking
- Sensing/Sensors
- Databases
- Others
IoT Market Companies:
- Amazon Web Services
- Autodesk SeeControl
- BlackBerry
- Bosch Software Innovations
- Bright Wolf
- C3 IoT
- Carriots
- Concirrus
- Connio
- Cumulocity
- Davra Networks
- Device Insight
- EVRYTHNG
- Exosite
- GE.
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