The IoT Solutions and Services Global Market Report 2023, provides comprehensive information on the IoT solutions and services market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s IoT Solutions and Services Global Market Report 2023, the global IoT solutions and services market size is expected to grow from $227.90 billion in 2022 to $265.48 billion in 2023 at a compound annual growth rate (CAGR) of 16.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global IoT solutions and services market size is expected to reach $483.57 billion in 2027 at a CAGR of 16.2%.
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Technology advancements are a key trend gaining popularity in the IoT solutions and services market. Major companies operating in the IoT solutions and services market are adopting new technologies to sustain their position in the market. For instance, in March 2023, Siemens Smart Infrastructure (a subsidiary of Siemens AG), a Germany-based industrial manufacturing company, launched a smart IoT solution for small to medium-sized buildings called “Connect Box”. Connect Box allows intuitive online access via desktop or smartphone, monitors building performance, optimizes energy efficiency by up to 30%, and improves indoor air quality in small to medium-sized buildings. Connect Box users can manage essential daily building management tasks via a cloud-based interface with no additional gateway or software.
The IoT solutions and services market is segmented:
1) By Component: Solution, Services
2) By Focus Area: Smart Manufacturing, Smart Transportation/mobility, Smart Energy and Utilities, Smart Retail, Connected Healthcare, Smart Agriculture, Smart Buildings, Other Focus Area
3) By Organization Size: Small and Medium-Sized Enterprises, Large Enterprises
4) By Application: Web Security, Network Security, Database, Cloud Security, Email Security, Other Application
5) By End-User: Wind, Oil And Gas, Solar, Other End-User
North America was the largest region in the IoT solutions and services market in 2022.
The table of contents in TBRC’s IoT solutions and services market report includes:
1. Executive Summary
2. IoT Solutions and Services Market Characteristics
3. IoT Solutions and Services Market Trends And Strategies
4. IoT Solutions and Services Market – Macro Economic Scenario
5. IoT Solutions and Services Market Size And Growth
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26. Africa IoT Solutions and Services Market
27. IoT Solutions and Services Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The IoT Solutions and Services Market
29. IoT Solutions and Services Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Siemens AG
- Microsoft Corporation
- Amazon Web Services Inc
- International Business Machines Corporation
- Intel Corporation
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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