Connected IoT Devices Market Overview:
Due to the rising popularity of cloud-based technologies and the growing advantages of the internet of things, the market for linked IoT devices is expected to expand quickly over the course of the forecast period. The global Connected IoT Devices market is also expanding as a result of rising demand for connected IoT devices across numerous industrial verticals, including BFSI, healthcare, manufacturing, retail, and IT & telecommunications. The market for linked IoT devices is expanding as a result of rising awareness of energy efficiency.
North America, Europe, Asia Pacific, and the Rest of the World are the geographical segments of the market for connected IoT devices worldwide. During the projected period, the North American market is anticipated to increase significantly and occupy the greatest share of the global market. The North American connected IoT devices market is expected to grow most rapidly in the U.S. and Canada due to the concentration of well-known important players in this region, including Apple, Cisco, IBM Corporation, and Oracle Corporation.
The Connected IoT Devices Market is anticipated to have tremendous expansion in the next years as a result of the region’s stable and established economies. Additionally, North America has a developed infrastructure that permits greater device penetration and subsequently improves connectivity. Other significant reasons fueling the expansion of the global market for connected IoT devices include the growing need for innovations and technological improvements.
By the end of the projection period (2022-2030), the Connected IoT Devices Market is expected to reach USD 36.5 billion at a CAGR of around 18.70%.
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Connected IoT Devices Market Key Players:
The key players of the connected IoT devices market are as follows:
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Connected IoT Devices Market Segmentation:
Component, deployment, and application are used to segment the Connected IoT Devices Market globally. There are three types of cloud deployments: private, public, and hybrid. However, during the course of the forecast period, the hybrid cloud segment is anticipated to develop at the fastest rate worldwide. Businesses can benefit from the hybrid cloud deployment in a number of ways, including by giving customers flexible and scalable access to low-cost solutions
Advantech Co., Ltd. of Taiwan, Aeris Communication, Inc. of the United States, Amplia Soluciones of Spain, Cumulocity GmbH of Germany, International Business Machines Corporation of the United States, Microsoft Corporation of the United States, Oracle Corporation of the United States, PTC Incorporation of the United States, Smith Micro Software, Inc. of the United States, Telit Communications PLC of Italy, Wind River Systems of the United States, Xively of the United States, and Samsung Electronic.
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Connected IoT Devices Market Regional Analysis:
North America is anticipated to hold the greatest market share, while Europe is anticipated to experience the quickest market growth during the projection period. Due to technology developments and rising demand for mobile application development platforms across several industry verticals in this area, the North American market is expanding quickly. Smart homes and other linked internet of things applications and devices are most often used in the U.S., both in terms of income and acceptance.
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