In a recent published report, Kenneth Research has updated the market report for Internet Of Things (IoT) Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Internet Of Things (IoT) Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
Internet of things (IoT) solutions enables wireless connectivity of devices which is changing the way people live and interact within their environment. Various IoT developments and the meteoric rise of smart devices and cloud based software and apps are transforming nearly every aspect of our lives.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
The global internet of things market constitute of various wired and wireless technologies such as Radio Frequency Identification (RFID), Near Field Communication, Zigbee, Supervisory Control And Data Acquisition (SCADA) and so on. Various components that are used to establish the internet of things network such as sensors, device gateway, LAN, Router, Switch, Cloud also forms the internet of things market.
It is expected that globally up to 50 billion ‘smart’ devices, ranging from cars and parking meters to coffee machines and combine harvesters could be connected to the internet by 2028, whereas, in 2010 the number of connected devices was 12.5 billion globally.The major drivers are increasing awareness levels of the consumers for wearable technology and smart home appliances. The rising demand for increasing efficiency from the manufacturing industry is the major driving force.
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Some key companies covered include
1. Alcatel-Lucent S.A
2. AT&T INC.
3. Cisco System Inc.
4. Huawei Technologies CO. LTD
5. Nxp Semiconductors NV
6. International Business Machine Corporation (IBM)
7. Google, INC.
8. Intel Corporation
9. Qualcomm Incorporated
10. Gemalto NV
This Research Report covers
1. Historical data
2. Revenue forecasts, growth rates and CAGR upto 2028
3. Industry Analysis
4. Competitive Analysis
5. Key geographic growth data
6. Deep profiles top competitive companies
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