Pune, June 15, 2020 (GLOBE NEWSWIRE) — The global IoT market size is projected to reach USD 1,102.6 billion by 2026, exhibiting a CAGR of 24.7% during the forecast period. The outbreak of the COVID-19 pandemic is expected to create ample innovation opportunities in the market, finds Fortune Business Insights™ in its report, titled “Internet of Things (IoT) Market Size, Share and Industry Analysis By Platform (Device Management, Application Management, Network Management), By Software & Services (Software Solution, Services), By End-Use Industry (BFSI, Retail, Governments, Healthcare, Others) And Regional Forecast, 2019 – 2026”.
IoT is swiftly emerging as viable option solution of tracking, monitoring, and ultimately preventing the spread of the coronavirus infection around the world. Many companies are bringing out innovative products to aid frontline healthcare workers to effectively fight the contagion. For example, the Shanghai Public Health Clinical Center is utilizing connected thermometers developed by the Californian health startup, VivaLNK’s, to monitor temperatures of COVID-19 patients and protect workers from getting infected. Canada-based Visionstate designed its IoT buttons product for hospitals in Vancouver, to be used for sending alerts to officials regarding maintenance and sanitation issues. These novelty solutions powered by IoT are bolstering response of healthcare systems in many countries to the COVID-19 pandemic, benefiting the Internet of Things market growth in the process.
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this market.
As per the report findings, the market value was at USD 190.0 billion in 2018. The other highlights of the report include:
- Deep insights into the upcoming market opportunities;
- Comprehensive evaluation of the market drivers, trends, and restraints;
- Microscopic study of all individual market segments; and
- Thorough analysis of the regional developments and competitive dynamics of the market.
Increasing Applicability of IoT in Agriculture to Augment Market Growth
Adoption of smart farming methods is opening a new avenue of growth for Internet of Things. The Food and Agriculture (FAO) opines that application of IoT in agriculture could prove instrumental in meeting the escalating food demand worldwide by making farming activities more efficient. The lucrative opportunities generated by this sector have prompted many start-ups to explore and advance the integration of IoT in agricultural productivity. Some of them are:
- New Jersey-based Arable raised USD 8.9 million to design and develop a sensor called ‘Mark’, which has the capacity to collect around 40 different types of data associated with weather.
- Wexus Technology based in San Francisco secured USD 4.8 million in funding to provide utility data to farmers to track solar arrays, processing equipment, and irrigation pumps using cloud technology.
- The Israeli start-up FieldIn engineered special sensors for vineyards and orchard-growers to manage pest control.
Evolving Connectivity Infrastructure in Asia Pacific to Ensure Its Leading Position
Among regions, Asia Pacific is set to command the Internet of Things market share during the forecast period on account of rapid improvement in internet connectivity and growing usage of smartphones. China, which accounts for 64% of the global cellular connections, is likely to present plenty of attractive opportunities for market players. In 2018, the region’s market size was at USD 74.5 billion.
Europe and North America are anticipated to showcase steady growth in the coming years owing to massive investments in 5G technology and active adoption of Internet of Things for manufacturing activities. Moreover, the two continents are home to some of the biggest technological companies in the world that are aggressively innovating in AI and IoT applications.
Collaborative Innovation by Market Leaders to Stir Competitive Spirits
The competitive landscape of the IoT market is dominated by the presence and operations of tech behemoths such as Microsoft and Oracle. These companies are making speedy advancements in the Internet of Things and other AI-based technologies through innovation-centric collaborations with smaller players and new entrants.
- May 2020: Cisco entered into an agreement with the Government of Brazil to accelerate digital transformation of the Brazilian economy. Under the agreement, Cisco will establish an Experience Center aimed at nurturing innovation and fostering Industry 4.0 technologies to augment the country’s manufacturing sector.
- February 2020: The US-based IoT cyber security specialist company, Firedome, integrated its IoT-powered real-time protection and response solutions with Microsoft’s Azure Security Center. The combination will create an end-to-end enhanced cyber security solution, catering to the needs of IoT device manufacturers.
List of Key Players Profiled in the Internet of Things Market Report:
- Siemens AG
- Oracle Corporation
- Intel Corporation
- Huawei Technologies
- Bosch Software Innovations GmbH
- SAP SE
- Microsoft Corporation
- IBM Corporation
- Cisco Systems, Inc.
- AT&T Inc.
Quick Buy – IoT Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/100307
Detailed Table of Content
- Definition, By Segment
- Research Approach
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Industry SWOT Analysis
- Porter’s Five Forces Analysis
- Global Internet of Things (IoT) Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecasts – By Platform (US$ Bn)
- Device Management
- Application Management
- Network Management
- Market Size Estimates and Forecasts – By Software & Services (US$ Bn)
- Software Solution
- Real-Time Streaming Analytics
- Data Management
- Remote Monitoring
- Network Band Management
- Software Solution
- Market Size Estimates and Forecasts – By End Use Industry (US$ Bn)
- IT & Telecom
- Market Size Estimates and Forecasts – By Geography
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/internet-of-things-iot-market-100307
Have a Look at Related Research Insights:
Small Cell 5G Network Market Size, Share & Industry Analysis, By Application (Residential & SOHO, Enterprises and Others), By Communication Infrastructure (Femtocell, Metrocell, Picocell and Microcell), and Regional Forecast, 2019-2026
5G Infrastructure Market Size, Share and Industry Analysis By Component (Fibers, Cables, Antenna, Transceiver, Wireless Backhaul, Modem, Router), By Communication Infrastructure (Small Cell, Macro Cell, Radio Access Network (RAN), Distributed Antenna System (DAS)), and Regional Forecast 2019-2026
Home Automation Market Size, Share and Industry Analysis by Product Type (Luxury, Mainstream, Managed, DIY Do It Yourself Home Automation System), Application (Safety and Security, Lighting, Entertainment, Heating, Ventilation and Air conditioning), Networking Technology (Wired & Wireless) and Regional Forecast 2018-2025
IOT in Aerospace & Defence Market Size, Share and Global Trend By Components (Software Platforms & Service), By End User (Space Systems, Ground Vehicles, and others) and Geography Forecast till 2026
IOT in Aviation Market Size, Share & Industry Analysis, By Component (Communication Service, Data Centre Systems, IT Services & Software), By Application (Ground Operations, Asset Management, Passenger Experience, Air Traffic Management), By End User (Airline, Airport, MROs, Manufacturers) Others and Regional Forecast, 2019-2026
IIOT (Industrial Internet of Things) Technology Market Size, Share and Global By Deployment Type (Hardware & Software), By Industry Vertical (Manufacturing, Oil &Gas, Metal & Mining), By Applications (Distribution Management System, Visualization Software, Transit Management System, and others) and Geography Forecast till 2026
5G IOT Market Size, Share & Industry Analysis, By Technology (5G New Radio Standalone Architecture, 5G New Radio Non-Standalone Architecture), By Type (Short-Range IOT devices, Wide-Range IOT devices), By Industry (Manufacturing, Government, Energy and Utilities, Transportation and Logistics, Aviation, Others (Mining)) and Regional Forecast, 2019-2026
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune – 411045, Maharashtra, India.
Fortune Business Insights™
LinkedIn | Twitter | Blogs
Website of source