Strong 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 (IoE) market.
PORTLANDOre. † May 9, 2022 /PRNewswire/ — Allied Market Research released a report entitled “Internet of Everything (IoE) Market by By Component (Hardware, Software, Services), by Industry Vertical (Manufacturing, Retail, BFSI, IT and Telecom, Healthcare, Others ) ): Global Opportunity Analysis and Industry Forecast, 2020-2030.” According to the report, the global Internet of Everything (IoE) industry has generated $928.11 billion in 2020, and is expected to reach $4,205.50 billion by 2030, at a CAGR of 16.5% from 2021 to 2030.
tensions and opportunities
Strong 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 (IoE) market. However, restrictions related to security, integrity, and privacy data in connected devices are limiting market growth. On the other hand, increasing investment in information and communication technology (ICT) by governments in many established and emerging countries will create new opportunities in the coming years.
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During the Covid-19 pandemic, the adoption of Internet of Everything applications increased significantly among retailers large and small. This is due to lower maintenance costs and higher efficiency through the use of wireless systems and sensors in remote locations.
The adoption of the culture of remote work has increased significantly during the pandemic. This led to the rapid adoption of the Internet of Everything by organizations to ensure seamless operations and improve productivity.
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The hardware segment to maintain its leadership status during the forecast period
In terms of components, the hardware segment held the highest market share in 2020, accounting for more than half of the global Internet everything market, and is expected to maintain its leadership status over the forecast period. This is due to the rise in the penetration of smartphones 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, reflecting the increasing adoption of IoE technologies and solutions in large and evolving B2B verticals such as retail, healthcare, government and the manufacturing sectors.
The manufacturing segment to maintain its leading position during the forecast period
Based on the vertical sector, the manufacturing segment accounted for the largest market share in 2020, contributing to more than a quarter of the global Internet everything market, and is expected to maintain its leadership position over the forecast period. This is due to the 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 largest CAGR of 19.8% from 2021 to 2030, thanks to advances in medical technology, the high adoption of connected devices in healthcare and the need to track the location of medical devices, patients and staff. follow.
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North America to maintain its dominance in terms of revenue by 2030
Based on region, North America delivered the largest market share in terms of revenue in 2020, accounting for nearly two-fifths of the global IoE market, and is expected to maintain its dominance in revenue terms by 2030. This is due to the increase in investment in the public sector and technological developments in the telecom sector. However, Asia-Pacific is expected to record the fastest CAGR of 20.4% over the forecast period, reflecting the rise of the region’s manufacturing industry that requires supply chain connectivity, asset management, workplace safety management and energy management.
Leading market players
Amazon Web Services, Inc.
Intellectual Property of AT&T
Cisco Systems, Inc.
Hewlett Packard Enterprise Development LP
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