Internet of Everything (IoE) market
According to the report, the global Internet of Everything (IoE) industry generated $928.11 billion in 2020 and is expected to reach $4,205.50 billion by 2030, growing at a CAGR of 16.5%. from 2021 to 2030.
Rising 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 market (IoE). However, limitations associated with data security, integrity, and privacy in connected devices are restraining the growth of the market. On the other hand, increasing investment in information and communication technology (ICT) by the governments of many established and emerging countries is creating new opportunities in the coming years.
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The hardware segment to maintain its leading status during the forecast period
Based on components, the hardware segment held the highest market share in 2020, accounting for more than half of the global Internet of Everything market, and is expected to maintain its leading status during the forecast period. . This is due to the increase in smartphone penetration 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, owing to the increase in adoption of IoE technologies and solutions in key evolving B2B verticals such as retail, healthcare, public and manufacturing sectors.
The manufacturing segment to maintain its leading position during the forecast period
Based on the industry vertical, the manufacturing segment accounted for the largest market share in 2020, contributing more than a quarter of the global Internet of Everything market, and is expected to maintain its leading position. during the forecast period. This is due to 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 highest CAGR of 19.8% from 2021 to 2030, driven by advancements in medical technology, high adoption of connected healthcare devices, and the need to track the location of medical devices, patients and staff.
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North America will maintain its revenue dominance by 2030
Based on region, North America contributed the highest market share in terms of revenue in 2020, holding nearly two-fifths of the global IoE market, and is expected to maintain its dominance in terms of revenue by 2030. This is due to increased investment. in the government sector and technological advancements in the telecommunications industry. However, Asia-Pacific is expected to show the fastest CAGR of 20.4% during the forecast period, owing to the booming manufacturing industry in the region which requires the connectivity of the supply chain. procurement, asset monitoring, occupational safety management and energy management.
Main market players
• Amazon Web Services, Inc.
• AT&T Intellectual Property
• Bosch.IO GmbH
• Cisco Systems, Inc.
• FUJITSU
• Google
• Hewlett Packard Enterprise Development LP
• IBM Corporation
• Microsoft
• SAPSE
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Major Results of the Railway Management System Market:
• By component, the hardware segment led the Internet’s highest market share of all, in terms of revenue in 2020.
• By vertical, the healthcare segment is expected to show the fastest growth rate during the forecast period for the Internet of Everything market.
• Regionally, North America generated the highest revenue in 2020.
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