Global IoT market to grow to $1.32 T by 2026

reogma|Global IoT market to grow to $1.32 T by 2026

The worldwide IoT (Internet of Things) market size was valued at $212.1 billion in 2018 and is expected to witness CAGR of 25.68% during 2019-2026 period reaching $1319.08 billion by 2026

  • Definition / Scope
  • Market Overview
  • Market Risks
  • Market Drivers
  • Industry Challenges
  • Technology Trends
  • Regulatory Trends
  • Other Key Market  Trends
  • Market Size and Forecast
  • Market Outlook
  • Technology Roadmap
  • Distribution Chain Analysis
  • Competitive Factors
  • Key Market Players
  • Strategic Conclusion
  • References

Definition / Scope

  • The IoT also known as Internet of things is a technology where network of devices are created where they are connected via internet. These devices are also known as connected products or smart devices which include home devices such as smart meters, smart locks, and smart a/c among others. Through IoT these devices are able to share data among each other providing benefits of quality of life and greater insights to their manufacturers/creators.
  • The scope of IoT has seen a radical change in the global Internet of Things market with a wide range of applications. The IoT market can further be sub-categorized by: 
    • Type of application: According to application, the types of deployment include, networks, platform applications and IoT services. Among these, the biggest share i.e. 68% of the market is captured by platform applications with number of IoT venture concentrated on this segment.
    • Type of industry: Majorly six industries are utilizing IoT on large scale which include, Manufacturing, Logistics & Transport, Retail, Healthcare, Automotive and Agriculture. **Among these, the IIoT Industrial Internet of Things platforms (manufacturing industry) will have the highest scope to thrive in 2019 and beyond where manufacturers are looking to solve most complex challenges by combining all production systems into single data model. These manufacturers that are coordinating analytics, BI, quality management, mobile technologies and IoT sensors are likely to grow faster than market innovating more than their competitors. Some of the areas where the potential of IIoT implementation is high at present include, environment monitoring, smart shelves, smart product tracking, operator productivity, inventory intelligence, warehouse management, renewable plant supervision among others.
    • Type of vertical: The IoT technology is being deployed across 10 major verticals that include: smart buildings, personal IoT, connected care, smart agriculture, commercial transport, smart cities, home automation, industrial IoT, medical IoT, retail IoT respectively.
  • Among these, the market value of home automation is highest as of 2018 ($1.2 billion) followed by smart cities ($473.2 million). However, in future the scope lies in other verticals such as IIoT and medical IoT.

reogma|Global IoT market to grow to $1.32 T by 2026


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The worldwide IoT (Internet of Things) market size was valued at $212.1 billion in 2018 and is expected to witness CAGR of 25.68% during 2019-2026 period reaching $1319.08 billion by 2026 Definition / Scope Market Overview Market Risks Market Drivers Industry Challenges Technology Trends Regulatory Trends Other Key Market  Trends […]
reogma|Global IoT market to grow to $1.32 T by 2026reogma|Global IoT market to grow to $1.32 T by 2026

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