Internet of Everything (IoE) Market to Reach $4.205.5 Trillion Globally by 2030 at a CAGR of 16.5%: Allied Market Research

Internet of Everything (IoE) Market to Reach $4.205.5 Trillion Globally by 2030 at a CAGR of 16.5%: Allied Market Research

Rising demand for connected devices, affordability of cloud computing services, improved internet access and low sensor and processor costs are driving the growth of the global internet of everything market (IoE).

PORTLANDOre. , May 9, 2022 /PRNewswire/ — Allied Market Research has released a report titled “Internet of Everything (IoE) Market by By Component (Hardware, Software, Services), by Industry Vertical (Manufacturing, Retail, BFSI, IT and Telecom, Healthcare, Others) ): Global Opportunities Analysis and Industry Forecast, 2020-2030.” According to the report, the global Internet of Everything (IoE) industry generated $928.11 billion in 2020, and should reach $4,205.50 billion by 2030, with a CAGR of 16.5% from 2021 to 2030.

Drivers, Re

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constraints and opportunities

Rising demand for connected devices, affordability of cloud computing services, improved internet access and low sensor and processor costs are driving the growth of the global internet of everything market (IoE). However, limitations associated with data security, integrity, and privacy in connected devices are restraining the growth of the market. On the other hand, increasing investment in information and communication technology (ICT) by the governments of many established and emerging countries is creating new opportunities in the coming years.

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Covid-19 scenario

  • During the Covid-19 pandemic, adoption of Internet of Everything apps has increased dramatically among large and small retailers. This is due to reduced maintenance costs and increased efficiency through the use of wireless systems and sensors in remote locations.

  • The adoption of the remote work culture has increased dramatically during the pandemic. This has led to increased application of the Internet by organizations to ensure seamless operations and improve productivity.

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The hardware segment to maintain its leading status during the forecast period

Based on components, the hardware segment held the highest market share in 2020, accounting for more than half of the global Internet of Everything market, and is expected to maintain its leading status during the forecast period. . This is due to the increase in smartphone penetration and the use of 3G and 4G networks. However, the services segment is expected to show the highest CAGR of 19.5% from 2021 to 2030, owing to the increase in adoption of IoE technologies and solutions in key evolving B2B verticals such as retail, healthcare, public and manufacturing sectors.

The manufacturing segment to maintain its leading position during the forecast period

Based on the industry vertical, the manufacturing segment accounted for the largest market share in 2020, contributing more than a quarter of the global Internet of Everything market, and is expected to maintain its leading position. during the forecast period. This is due to increased investment by manufacturers in IoE technology and solutions to simplify processes, achieve optimal results, and meet growing customer demands. However, the healthcare segment is expected to register the highest CAGR of 19.8% from 2021 to 2030, driven by advancements in medical technology, high adoption of connected healthcare devices, and the need to track the location of medical devices, patients and staff.

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North America maintain revenue dominance by 2030

Based on the region, North America contributed the highest market share by revenue in 2020, holding nearly two-fifths of the global IoE market, and is expected to maintain its dominance by revenue by 2030. This is due to the increased investment in the government and technology sector. advances in the telecommunications sector. However, Asia Pacific is expected to show the fastest CAGR of 20.4% during the forecast period, owing to the booming manufacturing industry in the region which requires supply chain connectivity, asset monitoring, occupational safety management and energy management.

Main market players

  • Amazon Web Services, Inc.

  • AT&T Intellectual Property

  • Bosch.IO GmbH

  • Cisco Systems, Inc.

  • FUJITSU

  • Google

  • Hewlett Packard Enterprise Development LP

  • IBM Corporation

  • Microsoft

  • SAP SE

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Allied Market Research (AMR) is a full-service market research and business advisory division of Allied Analytics LLP based in Portland, OR. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

Pawan Kumar, CEO of Allied Market Research, leads the organization in delivering high quality data and insights. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.

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