Internet of Things (IoT) Market to Register Stunning CAGR of 25.4%by 2028; DENSO Launches Factory-IoT Platformto Broaden Usage of IoT: Fortune Business Insights™

List of the Companies Profiled in the Market: Inc., AT&T Inc, Bosch Software Innovations GmbH, Cisco Systems, Inc., IBM Corporation, Intel Corporation, Oracle Corporation, Microsoft Corporation, SAP SE, Siemens AG

Pune, India, Sept. 16, 2021 (GLOBE NEWSWIRE) -- The global internet of things (IoT) market size was USD 308.97 billion in 2020. The market is projected to grow from USD 381.30 billion in 2021 to USD 1,854.76 billion in 2028 at a CAGR of 25.4% in the 2021-2028 period.This information is provided by Fortune Business Insights™ in its report titled, “Internet of Things (IoT) Market, 2021-2028.”

According to our expert analysts, the ability of IoT devices to interactwith each otherself-reliantly without human interferenceis expected to open fresh revenue sources, fuel business proficiencies, empowernovel business models, and augment the method of howprevailing services are offered across numerousdiverseindustries and sectors.

Request To Sample PDF Brochure:

List of Key Players Covered in the Internet of Things (IoT) Market Report

  • Amazon Web Services, Inc. (Washington, U.S.)
  • AT&T, Inc. (Texas, U.S.)
  • Robert Bosch LLC (Gerlingen, Germany)
  • Cisco Systems, Inc. (California, U.S.)
  • IBM Corporation (New York, U.S.)
  • Oracle Corporation (California, U.S.)
  • SAP SE (Walldorf, Germany)
  • Siemens AG (Munich, Germany)
  • Broadcom, Inc. (California, U.S.)
  • Texas Instruments, Inc. (Texas, U.S.)

Report Scope & Segmentation -

Report CoverageDetails
Forecast Period2021-2028
Forecast Period 2021 to 2028 CAGR25.4 %
2028 Value ProjectionUSD 1,854.76 Billion
Base Year2020
Market Size in 2020USD 308.97 Billion
Historical Data for2017-2019
No. of Pages130
Segments coveredComponent ; End-Use Industry; Regional
Growth DriversRising Smart City Initiatives to Bolster Growth of Market.
Connected Solutions to Offer Competitive Edge and Ability to Sustain in Market.

Pitfalls & Challenges
Limitations Associated with Security, Integrity, and Privacy of Data in IoT Ecosystem to Inhibit Growth

COVID-19 Impact

Internet of Things (IoT) Technology to be utilized to Tackle Coronavirus Situation

Healthcare professionals and producers are working incessantly to offerappropriate services in order to safeguardresidents from being infected by novel coronavirus disease. Moreover, hospitals have initiated theusage oflinked thermometers to observe patients and work for personnel. For example,

  • In January 2021, Nuance Communication, Inc. unveiled an AI-empowered virtual associatemedium for patient communication in order to altervocal and digital experiences throughout the patient’s stay at the hospital.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit:

Report Coverage

We provide reports which are conducted with an all-inclusive examination approach that majorly emphasizes delivering precise material. Our scholars have applied a data triangulation method which further assists us in offering trustworthy estimations and testing the general market dynamics accurately. Further, our analysts have received admission to numerous international as well as regional funded registers for providing the up-to-date material so that the stakeholders and business professionals invest only in essential zones.


Based on the component, themarket is divided into platforms and solutions & services. The platform is further sub-segmented into device management, cloud platform, and network management. Network management holds a significant market share due to the rising need for remote monitoring systems and internet-enabled devices in organizations.

On the basis of end-use industry, the market has been segregated into BFSI, retail, government, healthcare, manufacturing, agriculture, sustainable energy, transportation, IT & telecom, and others.

The market has been branched across five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Drivers and Restraints

Increasing Smart City Programs Set to Spur Market Growth

As the world shifts towards urbanization, the increasing number of smart city ventures and rising government spending towards the digital bionetworkis estimated toupsurge the demand for IoT devices.

Moreover, the IoT platforms and gadgets are utilized for observingmovement, infrastructures, and air and water superiority to refine infrastructure, public services, as well asservices. For example,

  • According to IoT Analytics, the European Innovation Partnership for Smart Cities and Communities (EIP-SCC) has expendedabout USD 1.12 billion to build around 300 smart cities based in Europe in 2019.

This is expected to bolster the internet of things market growth.

Regional Insights

Asia Pacific to Lead Backed by Surging Government Expenditure

Asia Pacific was responsible for the maximumIoT market share owing to the rising smart city programs by the government and cloud expenditure in the region. Communication service suppliers and producers in the Asia Pacific industry are extending their product collection.

North America has made substantialdevelopment in the embracement of IoT, particularly in the industrial and automotive sectors. Nevertheless, the upsurge in the number of data openings has made a significant contribution towardstherequirement for security solutions.

The European internet of things market is projected to display the highest CAGR during the forecast period.

Ask for Customization:

Competitive Landscape

Reputable Players Financing in Fundamental Technologies to Remain Competitive in Market

Companies are making considerable investments in progressive technologies such as Artificial Intelligence AI, cloud computing, and others. Investments in innovative technologies have empoweredchief players to extend their business into several end-user industries and attain a competitive edge.

Recognized market players are making significantfinancing in startups and mid-scale corporations to provideproficient solutions to the end-use sectors such as healthcare, industrial production, retail, and others.

Industry Development

October 2020: DENSO Corporation presented Factory-IoT Platform that allows the notion of ‘as if under one roof.’ This platform aidsin associatingabout 130 production facilities across the globepermitted with Information Technology (IT) and IoT technologies.

Quick Buy –

Table Of Content

  • Introduction
    • Definition, By Segment
    • Research Methodology/Approach
    • Data Sources
  • Key Takeaways
  • Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints,Opportunities and Trends
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
  • Competition Landscape
    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
  • Global Internet of Things Key Players Market Share Insights and Analysis, 2020       
  • Key Market Insights and Strategic Recommendations
  • Companies Profiled(Covered for key 10 players only)
    • Overview
      • Key Management
      • Headquarters etc.
    • Offerings/Business Segments
    • Key Details (Subjected to data availability in public domain and/or on paid databases)
      • Employee Size
      • Key Financials
        • Past and Current Revenue
        • Geographical Share
        • Business Segment Share
    • Recent Developments
  • Annexure / Appendix
    • Global Internet of Things (IoT) Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
      • By Component(USD)
        • Platform
          • Device Management
          • Cloud Platform
          • Network Management
        • Solution & Services
          • Solution
            • Real-Time Streaming Analytics
            • Security
            • Data Management
            • Remote Monitoring
            • Network Band Management
        • Services
      • By End-Use Industry (USD)
        • Banking, Financial Services and Insurance (BFSI)
        • Retail
        • Government
        • Healthcare
        • Manufacturing
        • Agriculture
        • Sustainable Energy
        • Transportation
        • IT & Telecom
        • Others

TOC Continued…!

Speak To Our Analyst-

Have a Look at Related Research Insights:

Unified Communication as a Service (UCaaS) Market Size, Share & COVID-19 Impact Analysis, By Component (Telephony, Unified Messaging, Collaboration Platforms, Conferencing), By Delivery Model (Managed Services, and Hosted/ Cloud Services), By Organization Size (Large Enterprises, SMEs), By Vertical (BFSI, IT and Telecommunications, IT-enabled Services (ITeS), Education, Retail and Consumer Goods), and Regional Forecast, 2021 –2028

Location Analytics Market Size, Share & COVID-19 Impact Analysis, By Component (Solution, Services), By Location Type (Indoor, Outdoor), By Deployment (On-Premises, Cloud), By Application (Disaster and Emergency Response Management, Sales and Marketing Optimization, Supply Chain Management), By Vertical (BFSI, Transportation and Logistics, Government and Defense, Tourism and Hospitality), and Regional Forecast, 2021-2028

Fleet Management Software Market Size, Share & COVID-19 Impact Analysis, By Component (Solution, and Services), By Fleet Type (Commercial Fleet and Passenger Cars), By Deployment (Cloud, and On-premises), By Industry (Manufacturing, Logistics, Transportation, Oil & Gas, Chemical, and Others), and Regional Forecast, 2021-2028

Virtual Reality (VR) Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, Software, and Content), By Device Type (Head Mounted Display, VR Simulator, VR Glasses, Treadmills & Haptic Gloves, and Others), By Industry (Gaming, Entertainment, Automotive, Retail, Healthcare, Education, Aerospace & Defense, Manufacturing, and Others), and Regional Forecast, 2021-2028

Virtual Fitting Room Market Size, Share and COVID-19 Impact Analysis, By Component (Hardware, Software, and Services), By Application (Apparel, Eyewear, Beauty & Cosmetic Products, Jewelry & Watches, and Others), By End-use (Physical Stores and Virtual Store), and Regional Forecast, 2021-2028

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. 

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. 

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

308, Supreme Headquarters,

Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune - 411045, Maharashtra, India.


US :+1 424 253 0390

UK : +44 2071 939123

APAC : +91 744 740 1245




Read Press Release :