The global internet of things (IoT) market is expected to decline from $255.83 billion in 2019 to $247.97 billion in 2020 at a rate of -3.07%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $519.87 billion in 2023 at rate of 27.99%.
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The Internet of Things (IoT) market consists of sales of IoT and related services that are used in building and home automation, smart energy and utilities, connected logistics, smart retail, smart mobility, and transportation. The internet of things, or IoT, is a collection of interconnected smart devices, mechanical and digital machines, objects, animals or people supplied with unique identifiers (UIDs) and the ability to transmit data across a network without needing human-to-human or human-to-computer interaction.
Global Internet Of Things (IoT) Market Segmentation –
The IoT market covered in this report is segmented
1. By platform into device management, application management
2. By end use industry into BFSI, retail, government, healthcare, manufacturing, transportation, IT & telecom, others
3. By application into building and home automation, smart energy and utilities, smart manufacturing, connected logistics, smart retail, smart mobility and transportation, others
Global Internet Of Things (IoT) Market Drivers –
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.
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A Few Points From The Global Internet Of Things (IoT) Market ToC
1. Executive Summary
2. Internet Of Things (IoT) Market Characteristics
3. Internet Of Things (IoT) Market Size And Growth
3.1. Global Internet Of Things (IoT) Historic Market, 2015 – 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Internet Of Things (IoT) Forecast Market, 2019 – 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Internet Of Things (IoT) Market Segmentation
5. Internet Of Things (IoT) Market Regional And Country Analysis
5.1. Global Internet Of Things (IoT) Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Internet Of Things (IoT) Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
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