Enterprise IoT Market 2022-2030 : Inclinations Development

New York, United States -The global enterprise IoT market size was US$ 540 billion in 2021. The global enterprise IoT market is forecast to grow to US$ 1480 billion by 2030, registering a compound annual growth rate (CAGR) of 11.8% during the forecast period from 2022 to 2030.

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Factors Influencing the Market

The increasing number of wireless networking technology will benefit the global enterprise IoT market. In addition, the growing adoption of cloud platforms across various industry verticals will propel the global enterprise IoT market forward.

The emergence of sophisticated data analytics and data processing will benefit the global enterprise IoT market in the coming years.

Furthermore, favorable initiatives to establish smart city infrastructure are likely to accelerate the growth of the global IoT enterprise market. In addition, growing digitization and improved IoT efficiency will prompt market growth.

Growing IoT penetration among SMEs will offer ample growth opportunities for the enterprise IoT market.

COVID-19 Impact Analysis

The COVID-19 pandemic has negatively impacted the global IoT enterprise market. Due to the COVID-19 sudden impact, the demand for IoT solutions decreased. Various firms in the IoT market had to halt their operations in order to support government laws. The shutdown of the manufacturing, transportation, and automotive industries had a significant declining influence on the IoT industry. Following the shutdown, corporations would have to adopt and implement new strategies in accordance with government rules. Industries globally have planned to gradually restore industrial plants. Furthermore, it is projected that businesses and sectors will invest in digital technology once the pandemic is over. Companies have significantly witnessed the potential scope of IoT technologies. Moreover, it will help them reduce human error. As a result, it will fuel the growth of the global IoT enterprise market.

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Regional Analysis

North America dominated the global enterprise IoT market. Meanwhile, Europe and Asia-Pacific are forecast to hold the second and the third-largest share of the global enterprise IoT market. The growth of North America is attributed to the region’s well-developed infrastructure and rising penetration of advanced technology. Thus, the growing introduction and implementation of current technology and high adoption of smart gadgets are likely to benefit the market.

Competitors in the Market

  • Intel Corporation
  • Cisco Systems Incorporation
  • Microsoft Corporation
  • Oracle Corporation
  • IBM Corporation
  • Google Incorporated
  • Hewlett Packard Enterprise
  • Amazon Web Services Incorporated
  • Bosch Software Innovations GmbH
  • Verizon Communications
  • Siemens AG
  • AT&T Incorporated
  • Huawei Technologies
  • Other prominent players

Market segmentation

The global enterprise IoT market segmentation focuses on Type, Platform, Application, and Region.

Based on the type, the enterprise IoT market has been segmented into –

  • solutions
    • data management
    • Network bandwidth management
    • remote monitoring
    • Security
    • Real time streaming analytics
  • services
    • Professional Services
    • Support and Maintenance
    • Consulting
    • deployment
    • Integration Managed Services

Based on the platform, the enterprise IoT market has been segmented into –

  • device management
  • application management
  • network management

Based on the application, the enterprise IoT market has been segmented into –

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Based on the region, the enterprise IoT market has been segmented into –

  • NorthAmerica
  • TheUS
  • Canada
  • Mexico
  • Europe
  • Western Europe
  • TheUK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Western Europe
  • Eastern Europe
  • Poland
  • Russia
  • Rest of Eastern Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • Rest of Asia Pacific
  • Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
  • South America
  • Brazil
  • Argentina
  • Rest of South America

What are the key findings of the report?

•This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
•The report offers the current state of the market and future prospects for various geographical regions.
•This report provides both qualitative and quantitative information about the competitive landscape of the market.

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