Internet of Everything (IoE) Market Volume, Demand, Market Dynamic Forces & Forecast 2023
- ehteshampeerzade
- Dec 7, 2020
- 3 min read
Market Highlights
The emerging IoE technology is still in its nascent stage and with the proliferation of the technology across various industry verticals, the global IoE market is poised for significant growth. The market os driven by factors such as rising adoption of M2M technology and rise in cloud-based services. The advent of disruptive technologies such as IoT, Big Data, and others are also creating a conducive environment for the growth of the market. Other factors boosting the market growth include increased emphasis on Decarbonization which has given rise to number of smart city projects is likely to fuel the growth of the market. Furthermore, growing application of IoE in automated inventory management, predictive maintenance, and self-optimization are factors which is supporting the growth of the market.
Globally, the IoE market is likely to witness a significant growth due to the rising cloud-based services, rise in number of connected devices, increasing adoption of disruptive technologies such as artificial intelligence, Big data analytics in various industrial as well as commercial application are also some of the driving forces of the IoE market. On the flip side, security and privacy concerns are some of the limiting factors for the Internet of everything market.
Regional Analysis:
Region-wise, the Internet of Everything (IoE) market share has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
North America is spearheading the global IoE market. The region is a fast adopter of all latest technologies and has embedded IoE across diverse applications. The presence of major market players in the US is also providing unprecedented leverage to the North America market. These players have deep pockets which allows them to invest heavily on R&D activities.
Europe is anticipated to be the fastest growing market for IOE. The presence of industry giants in the region coupled with rising adoption Narrowband IoT modules and applications.
The APAC IoE market is anticipated to exhibit moderate growth over the forecast period. Reducing cost MEMS sensors and rapid development of network infrastructure is supporting the growth of the market.
Segmentation:
The IoE market is segmented into component, network technology, application, and end user.
Based on component, the IoE market is categorized into hardware, software, and services. The services bifurcated into professional services and managed services. The services further sub-segmented as consulting services, implementation services and others.
The network technologies segmented into Wi-Fi, Bluetooth, cellular technologies,802.15.4, GPS/GNSS, NFC devices & tags, RFID tags (active & passive), low-power wide area network (LPWAN), fixed line, satellite, other wireless technologies. Furthermore, the market is sub-divided into application comprising connected car, smart home, wearable computing & mobile devices, smart cities & buildings, smart metering, and others. Lastly, on the basis of end-user, the market is segmented as government, retail, BFSI, healthcare, IT & telecom, manufacturing, energy & Utilities, transportation & logistics, and others.
Key Players:
Some of the key players of global Internet of everything market include Cisco System Inc (US), Ericsson AB (Sweden), Qualcomm (US), Infineon Technologies (US), Texas Instruments (US), SAP SE (France), Amazon Web Services (US), Huawei Technolgies Co Ltd.(China), SAMSUNG (South Korea), Robert Bosch AG (Germany), AT& T Inc. (US), Nokia Corporation (Finland), Juniper Networks (US), Koninklijke Philips N.V (Netherlands) and other tier 1 companies.
Some other companies that have also gained a significant market share in the IoE market include Nest Labs (US), Mesh systems LLC (US), ThinxNet GmbH (Germany), Sigfox (France), Cloudera (US), resin.io (US), IOTA computing Inc.(US), and other newly entered companies.
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