IoT Market Trend

The economic impact of the COVID 19 pandemic will impact global spending on the Internet of Things (IoT), with double-digit growth expected in the medium to long term. If I missed something, do not hesitate to contact me and I will change the list, but I am always open to suggestions. ^{Sources: 2}

The Worldwide Internet of Things Spending Guide shows that spending on the Internet of Things is increasing by 8.2% annually, to $742 billion in 2020. IoT Analytics predicts that the global Internet of Things market will grow 37% in 2017, from $151B in 2018. Gartner, Inc. predicts that it will grow to 5.8 billion endpoints by 2020, up 21% from 2019 and to 7.7 billion by 2021. ^{Sources: 1, 2}

Ericcson predicts that the number of cellular IoT compounds will reach 3.5 B by 2023, an increase of 30%. ^{Sources: 1}

IoT sensors and networks that provide real-time information on the health, safety, safety and health of the environment will make IoT business cases compelling by 2019. IoT creates rewarding opportunities for businesses through the combination of cloud computing and big data. ^{Sources: 1, 7}

The growth of the Internet of Things industry is driven by the increasing infiltration of smart devices, smart homes and smart cities. The growing implementation share of IoT in the industrial and commercial sectors is the main reason for the demand for the IoT market. ^{Sources: 7}

According to the report, global demand for consumer IoT is estimated to be around $52.76 billion in 2019 and is expected to grow by 17.2% from 2020 to 2027. According to this report, international demand for consumer IoT market will generate revenues of USD 188.24 billion by 2021, representing growth of 19.75% CPGR. Global IoT markets are expected to grow in the US, and they expect to grow at an 18.5% rate over the next five years from 2019 to 2021. ^{Sources: 3, 7}

Consumer IoT differs from the Internet of Things, and it is a broad term that is used to refer to any device connected to the Internet, such as smartphones, tablets, computers, smart home devices, or smart home devices. ^{Sources: 3}

Ten billion IoT connected devices are already available around the world, and this number is growing as Internet connectivity begins to become a major factor in the growth of the IoT market for consumers in North America, Europe, Asia-Pacific and Latin America. IoT in the highly integrated consumer electronics market goes far beyond handheld devices and household appliances. Technologies such as smart home (IoT) devices that dominate the Internet of Things (IoT) aim to automate various aspects of daily life, from food and beverage consumption to transportation, healthcare, healthcare, education, entertainment, transportation, and more. The global market for the Internet of Things is expected to grow at an annual rate of 7.5% by the end of 2019. ^{Sources: 4}

IoT connected devices and their applications are a key driver for the growth of the IoT market for consumers in North America, Europe, Asia-Pacific and Latin America. ^{Sources: 4}

According to the report, IoT technology has considerable potential: the global market is valued at $190 billion in 2018 and will reach $1.1 trillion by 2026. The IoT market is driven by the increasing adoption of smart homes, smart cities and smart infrastructure. The companies that manage to transform and strengthen IoT (IoT) themselves could create an undeniable competitive advantage. ^{Sources: 6}

The report predicts that the global market will expand in the forecast years with a brutal CAGR of 24.7%. ^{Sources: 6}

The global artificial intelligence and IoT market is segmented by type, application, end-user and region. The report provides an in-depth analysis of the leading artificial intelligence in the global IoT market. It provides a detailed analysis and forecast for the next five years for each segment and subsegments of this market. With the demand for smart homes and smart cities growing, the world's second largest market by market size, it is expected to grow at its fastest pace over the forecast period. ^{Sources: 8}

The market is segmented on the basis of type, application, end-user, region and sub-segments of artificial intelligence and the IoT market. ^{Sources: 8}

Latest data shows the total valuation has been reached from $2.99 trillion in 2014 and the total will rise to $8.9 trillion by 2020. The figure is O (r) r (e) d (tm) s, t (t) e (d) rising from $1.1 trillion in 2015 to $3.8 trillion, rising to sums of more than $6.5 trillion in 2020 and $7.4 trillion in 2021. ^{Sources: 5}

The installed base of Internet of Things devices is forecast to grow to nearly 31 billion worldwide. The IoT segment will generate over $300 billion this year, of which $85 billion will be generated in the industrial sector. D growth reflects the growth of the IoT equipment market, A report by Future Market Insights (FMI) says that the global market for smart home devices, smart thermostats and smart lighting devices will grow from $12 billion in 2017 to $50 billion in 2027.

Cited Sources