The latest market analysis report titled Internet of Things (IoT) Market Size, Share and Trends Analysis by Region, Type, Product, Enterprise Size, Vertical, and Segment Forecast 2021-2026 has been added to the report store by GlobalData Plc. The IoT market size was estimated at over USD 700 billion in 2021. The IoT market growth can be attributed to factors including the drop in sensor prices and the growth of cybersecurity. In addition, the rising penetration of 5G and smartphones coupled with the speeding up of IoT applications across several industry verticals post the pandemic will also promote the market’s growth during the projected period.
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The IoT market is anticipated to witness increasing IPOs and M&As in the upcoming years. IoT was the fifth largest theme driving IPO activity in the technology, media, and telecom (TMT) sector between 1 January 2018 and 31 December 2020, when measured by IPO proceeds raised. This will further accelerate the IoT market demand in the long run. However, challenges such as a lack of global IoT security standards and IoT communication standards might limit the market’s growth. Furthermore, design challenges coupled with hard and extensive integration are also expected to challenge the market’s growth.
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IoT Market Segment Highlights
By Product Type
By Enterprise Size Band
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IoT Market Competitive Landscape
The overall competitive landscape for the IoT sector is highly fragmented. Numerous venture capital companies are heavily investing in innovative IoT start-ups possessing pioneering expertise. IoT ecosystem de-fragmentation through M&A seems like a positive trend for an over-complicated market in which customers still complain that they need to buy and manage separate elements from disparate vendors and may have trouble proving adequate return of investment to key stakeholders. The key players leading the IoT market include Microsoft, Alphabet, IBM, Samsung, Intel, Qualcomm, Apple, Amazon, Salesforce, and Cisco, among others.
Top IoT Market Players
Other prominent IoT market companies are:
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