The Enterprise IoT Market delves into various aspects, enabling readers to gain a deep understanding of the market dynamics, trends, and potential opportunities.
The global enterprise IoT market valued around USD 500 billion in 2020, and the market is anticipated to grow at a CAGR of around 15% during the forecast period 2021 to 2027.
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The software segment in the enterprise IoT market has the largest market share due to the growing use of cloud-based applications and cloud-based storage. Many companies combine IoT with big data analytics to increase performance and track real-time data. This trend would contribute to the overall growth of the enterprise IoT market.
Factors Impacting the Enterprise IoT Market
Enterprise IoT market growth primarily results from wireless networking technology development and increasing cloud platform adoption and usage. In addition, the emergence of sophisticated data analytics and data processing will boost the market growth.
The smart city initiative addresses the needs of the next generation through enhanced quality of life, digitalization, and improved IoT efficiency to encourage enterprises to implement IoT. The market is growing as connected device costs decline and IoT penetration increases in small businesses. There are numerous opportunities for the global enterprise IoT market as a result of shared security.
Market Dynamics
- Due to the rising demand for digitalization and the growing adoption of cloud-based platforms are some key driving factors for the Enterprise IoT Market Growth. Additionally, Bluetooth, Wi-Fi, and many more technologies reduce costs for easy wireless connectivity for consumers. Therefore, the dramatic shift towards digitalization and demand for cloud-based services is driving the market growth.
- In some parts of the world, some restraints, such as the lack of technological awareness, will hinder the overall market growth. As compared to other regions, the developing nations will have a slower growth rate. It is because of the low awareness and technological advancements.
- Globally, business enterprises will experience significant growth due to the adoption of IoT devices. Reducing costs will make the work environment better and allow enterprises to gain new customers. In addition, wireless connectivity devices will propel the market’s growth. Patients’ progress can be seen via them in the healthcare sector.
- The strong competitive environment among the key players and other industries poses a major challenge for the Enterprise IoT Market growth. Market growth has been improved by developing new products as a result of growing demand.
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Impact of Covid-19
COVID-19 has an unparalleled impact on the population and economy of these countries – the pandemic impacts multiple aspects of the IoT market. Several industries have suffered from the shutdown of the Internet of Things, including manufacturing, transportation, and automotive. After the lockdown, the companies would need to implement new strategies to comply with government guidelines. Around the world, industries plan to resume production. Further, digital technology needs to be invested in by businesses and industries.
Regional Analysis
Globally, there are five geographical regions in which enterprise IoT is available: Europe, Asia Pacific, South America, Europe, North America, and the Middle East and Africa (MEA). North America was the largest market for enterprise IoT in 2020, followed by Europe and the Asia Pacific. It is due to a well-developed infrastructure in the region that permits the introduction and implementation of modern technology and higher adoption of smart devices. In addition, a high CAGR is forecast for the Asia Pacific region over the forecast period.
Aim of the Report
The report outlines the global enterprise IoT market study based on type, platform, and application.
Segmentation based on the Type
- Solution
- Data Management
- Remote Monitoring
- Security
- Network Bandwidth Management
- Real-Time Streaming Analytics
- Services
- Professional Services
- Consulting
- Deployment
- Support and Maintenance
- Integrated Managed Services
- Professional Services
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Segmentation based on the Platform
- Application Management
- Device Management
- Network Management
Segmentation based on the Application
- Small Enterprises
- Medium Enterprises
- Large Enterprises
Key Competitors
There are a large number of players in the global enterprise IoT market. The key players operating in the worldwide enterprise IoT market include–
- Intel Corporation
- Microsoft Corporation
- Google Incorporated
- Huawei Technologies
- Amazon Web Services Incorporated
- Bosch Software Innovations GmbH
- Cisco Systems Incorporation
- Oracle Corporation
- IBM Corporation
- Hewlett Packard Enterprise
- Verizon Communications
- Siemens AG
- AT&T Incorporated
- SAP SE
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Table of Content
Chapter 1: Global Enterprise IoT Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Enterprise IoT market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Enterprise IoT Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Enterprise IoT market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Enterprise IoT market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Enterprise IoT market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Enterprise IoT market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Enterprise IoT business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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