Qualitative Report on Internet of Things (IoT) Market by Trends, Opportunities, Demand, Growth, Future Scope & Forecast to 2023


The global internet of things (IoT) market is expected to decline from $255.83 billion in 2019 to $247.97 billion in 2020 at a compound annual growth rate (CAGR) of -3.07%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $519.87 billion in 2023 at CAGR of 27.99%.

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Leading players of Internet of Things (IoT) Market:

Cisco Systems, Inc., Microsoft Corporation, Oracle Corporation, International Business Machine (IBM) Corporation, Google Inc., Hewlett-Packard Enterprise, Amazon Web Services Inc., Bosch Software Innovation GmbH, Huawei Technologies, and Intel Corporation.

The “Global Internet of Things (IoT) Market Analysis to 2023” is a specialized and in-depth study of the Internet of Things (IoT) market with a focus on the global market trend. The report aims to provide an overview of the global Internet of Things (IoT) market with detailed market segmentation by service, technology, industry vertical, and geography. The global Internet of Things (IoT) market is expected to witness high growth during the forecast period.

Segmentation by Platform:

Device Management; Application Management; Network Management

Segmentation by Application:

Building and Home Automation; Smart Energy and Utilities; Smart Manufacturing; Connected Logistics; Smart Retail; Smart Mobility And Transportation; Others

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