Global Internet of Things (IoT) Industry

Global Internet of Things (IoT) Industry

  • July 2020 •
  • 264 pages •
  • Report ID: 3180724 •
  • Format: PDF
Global Internet of Things (IoT) Market to Reach $1 Trillion by 2027

Amid the COVID-19 crisis, the global market for Internet of Things (IoT) estimated at US$151.8 Billion in the year 2020, is projected to reach a revised size of US$1 Trillion by 2027, growing at a CAGR of 31.4% over the analysis period 2020-2027. Applications & Analytics, one of the segments analyzed in the report, is projected to record a 37.8% CAGR and reach US$466.4 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 34.3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $45.7 Billion, While China is Forecast to Grow at 29.8% CAGR

The Internet of Things (IoT) market in the U.S. is estimated at US$45.7 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$169.1 Billion by the year 2027 trailing a CAGR of 29.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 27.9% and 26.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 21.2% CAGR.

Security Segment to Record 42.1% CAGR

In the global Security segment, USA, Canada, Japan, China and Europe will drive the 42% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$8.9 Billion in the year 2020 will reach a projected size of US$104.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$118.8 Billion by the year 2027.We bring years of research experience to this 15th edition of our report. The 264-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others,
  • Amazon Web Services, Inc.
  • ARM Ltd.
  • AT&T, Inc.
  • Atmel Corporation
  • Ayla Networks
  • Bitdefender
  • Bosch Software Innovations GmbH
  • B-Scada
  • CLX Communications
  • DigiCert
  • ErgoTech Systems
  • Freescale Semiconductor, Inc.
  • Fujitsu Limited
  • Gemalto N.V.
  • General Electric Company
  • Google, Inc.
  • Greenwave Systems
  • Honeywell International, Inc.
  • IBM Corp.
  • Infineon Technologies AG
  • Ingenu Inc.
  • Intel Corporation
  • InvenSense Inc.
  • Karamba Security
  • Microsoft Corp.
  • Qualcomm Technologies, Inc.
  • Salesforce.com, Inc.
  • Samsung Electronics Co., Ltd.
  • SAP SE
  • Silver Spring Networks
  • STMicroelectronics N.V.
  • Symantec Corporation
  • Telefónica S.A.
  • Telit Communications PLC
  • Texas Instruments
  • Trustwave Holdings, Inc.
  • Verizon Communications, Inc.
  • Verizon Enterprise Solutions
  • Vodafone Group Plc
  • Zebra Technologies Corporation