The internet of everything (IoE) market witnesses substantial revenue growth. Factors such as the proliferation of the Internet of Things (IoT) and machine-to-machine (M2M) communications drive the market growth. Besides, growing uses of machine-to-people (M2P) and technology-assisted people-to-people (P2P) interactions create substantial market demand.
With the IoT quickly becoming IoE and more connected devices and objects able to collect and transmit data over the internet, the market is expected to garner significant traction in the next few years. According to Market Research Future (MRFR), the global internet of everything (IoE) market is poised to grow at a whopping 15.1% CAGR and to hit US$ 3,335.2 Billion, Globally throughout the forecast period 2021-2027.
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Additionally, automation of thing communications, alongside the growing user-generated communications and interactions associated with the global entirety of networked devices, boosts the market size. Rising deployments of IoT devices and growing automation across industries create vast market demand.
The rise in deployments of connected devices and digital sensors, remote appliances, and connected mobile devices push the market sale. Furthermore, the emergence of disruptive technologies such as artificial intelligence (AI) and big data analytics, along with the rising cloud computing infrastructure services, act as major tailwinds for the market increase.
Global IoE Market – Segments
The market analysis is segmented into components, network technologies, applications, end-users, and regions. The component segment is sub-segmented into hardware, software, and services (consulting services, implementation services, and others). The network technology segment is sub-segmented into Wi-Fi, Bluetooth, cellular technologies, GPS/GNSS, NFC devices & tags, RFID tags (active & passive), low-power wide-area network (LPWAN), fixed-line, satellite, others.
The application segment is sub-segmented into connected cars, smart homes, wearable computing & mobile devices, smart cities & buildings, smart metering, and others. The end-user segment is sub-segmented into government, retail, BFSI, healthcare, IT & telecom, manufacturing, energy & utilities, transportation & logistics, and others. The region segment is sub-segmented into Europe, Americas, Asia-Pacific, and the Rest-of-the-World.
Global Internet of Everything Market – Geographical Analysis
North America leads the global internet of everything (IoE) market. Factors such as the presence of network giants and increasing adoption of Narrowband IoT modules & applications drive the market growth. Besides, advanced network infrastructure and increased IoT expenditure among the leading industrial giants substantiate the market size. North America is likely to remain the dominating region during the forecast period.
Global IoE Market – Competitive Landscape
Highly competitive, the IoE market appears fragmented, with several well-established players forming a competitive landscape. Innovation, mergers & acquisitions, and brand reinforcement remain key trends for these players to gain a larger competitive share. They make substantial R&D investments in the development of new technologies and cost-effective portfolios. Also, considerable investments are fostered in expanding global footprints and gaining diverse expertise.
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Players leading the global IoE market are AT& T Inc. (US), Cisco System Inc (US), Nokia Corporation (Finland), Ericsson AB (Sweden), Juniper Networks (US), Huawei Technologies Co Ltd.(China), Robert Bosch AG (Germany), SAMSUNG (South Korea), Koninklijke Philips N.V (Netherlands), Infineon Technologies (US), Qualcomm (US), Texas Instruments (US), Amazon Web Services (US), and SAP SE (France), among others.
Internet of Everything (IoE) Market Recent updates -
The Internet of Everything (IoE) market is expected to be driven by the increasing demand for connected devices, such as smartphones, tablets, and wearables, as well as the increasing demand for cloud computing services. Furthermore, the increasing usage of connected devices in the automotive industry is expected to drive the growth of the market. Additionally, the increasing adoption of wireless technologies, such as Wi-Fi and Bluetooth, is expected to increase the demand for connected devices, thereby driving the growth of the Internet of Everything (IoE) market.
The key players operating in the Internet of Everything (IoE) market are Accenture, Cisco Systems, IBM Corporation, Intel Corporation, Microsoft Corporation, Oracle Corporation, Qualcomm Technologies, SAP SE, Siemens AG, and VMware. These players are focusing on the development of innovative products and services to gain a competitive edge in the market.
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