The Internet of Everything (IoE) is a wide phrase that refers to internet-connected gadgets and consumer items with enhanced digital functionalities. It is a theory that the future of technology is believed to be made up of many various sorts of appliances, gadgets, and products that are all connected to the internet. Moreover, the Internet of Everything is based on the idea that, unlike earlier decades, Internet connections will not be limited to laptop or desktop computers and a few tablets in the future. Instead, machines are expected to grow more intelligent as a result of increase in data access and networking options.
Pay-as-you-drive (smart drive meter), smart garbage bins, and remote healthcare services are all examples of emerging business models based on the Internet of Things (IoT). In addition, sensors, often known as integrated things, are the main part of the Internet of Things, and sensor prices have been steadily declining in recent years. IOE is becoming a reality as a result of these two advancements. These factors notably contribute toward the growth of the global Internet of Everything market. However, consumers and businesses are concerned about the possible exploitation of their information as a result of increasing cyberattacks. In addition, IOE expansion is hampered by security concerns which further limits the market growth. On the contrary, rise in initiatives for smart cities in developed nations is expected to boost the growth of the market in future. In addition, increase in use of blockchain technologies in IoE is expected to provide lucrative opportunities for the market growth in the coming years.
The internet of everything market is segmented into component, industry vertical, and region. By component, the market is differentiated into hardware, software, and services. By industry vertical, it is segmented into manufacturing, retail, BFSI, IT & telecom, healthcare, and others. Region-wise, the market is analysed across North America, Europe, Asia-Pacific, and LAMEA.
The Internet of Everything market analysis includes top companies operating in the market, such as Amazon Web Services, Inc., AT&T Intellectual Property, Bosch.IO GmbH, Cisco Systems, Inc., FUJITSU, Google, Hewlett Packard Enterprise Development LP, IBM Corporation, Microsoft, SAP SE. These players have adopted various strategies to increase their market penetration and strengthen their position in the Internet of Everything industry.
Pay-as-you-drive (smart drive meter), smart garbage bins, and remote healthcare services are all examples of emerging business models based on the Internet of Things (IoT). In addition, sensors, often known as integrated things, are the main part of the Internet of Things, and sensor prices have been steadily declining in recent years. IOE is becoming a reality as a result of these two advancements. These factors notably contribute toward the growth of the global Internet of Everything market. However, consumers and businesses are concerned about the possible exploitation of their information as a result of increasing cyberattacks. In addition, IOE expansion is hampered by security concerns which further limits the market growth. On the contrary, rise in initiatives for smart cities in developed nations is expected to boost the growth of the market in future. In addition, increase in use of blockchain technologies in IoE is expected to provide lucrative opportunities for the market growth in the coming years.
The internet of everything market is segmented into component, industry vertical, and region. By component, the market is differentiated into hardware, software, and services. By industry vertical, it is segmented into manufacturing, retail, BFSI, IT & telecom, healthcare, and others. Region-wise, the market is analysed across North America, Europe, Asia-Pacific, and LAMEA.
The Internet of Everything market analysis includes top companies operating in the market, such as Amazon Web Services, Inc., AT&T Intellectual Property, Bosch.IO GmbH, Cisco Systems, Inc., FUJITSU, Google, Hewlett Packard Enterprise Development LP, IBM Corporation, Microsoft, SAP SE. These players have adopted various strategies to increase their market penetration and strengthen their position in the Internet of Everything industry.
Key Benefits For Stakeholders
- The study provides in-depth analysis of the global internet of everything market share along with current trends and future estimations to illustrate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analysis on the global internet of everything market size are provided in the report.
- The Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the internet of everything market applications.
- An extensive analysis of the key segments of the industry helps to understand the internet of everything market trends.
- The quantitative analysis of the global internet of everything market forecast from 2021 to 2030 is provided to determine the market potential.
Key Market Segments
By Component
- Hardware
- Software
- Services
By Industry Vertical
- Healthcare
- Others
- Manufacturing
- Retail
- BFSI
- IT and Telecom
By Region
- North America
- U.S.
- Canada
- Europe
- United Kingdom
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- AMAZON WEB SERVICES INC.
- AT&T INTELLECTUAL PROPERTY
- BOSCH SOFTWARE INNOVATIONS GMBH
- CISCO SYSTEMS, INC.
- FUJITSU LIMITED
- GOOGLE INC.
- HEWLETT-PACKARD ENTERPRISE
- INTERNATIONAL BUSINESS MACHINES CORPORATION
- MICROSOFT CORPORATION
- SAP
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: INTERNET OF EVERYTHING (IOE) MARKET, BY COMPONENT
CHAPTER 5: INTERNET OF EVERYTHING (IOE) MARKET, BY INDUSTRY VERTICAL
CHAPTER 6: INTERNET OF EVERYTHING (IOE) MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Internet of Everything (IoE) Market,' the internet of everything (IoE) market size was valued at $928.11 billion in 2020, and is estimated to reach $4,205.50 billion by 2030, growing at a CAGR of 16.5% from 2021 to 2030.Increase in government initiatives to adopt IoE technologies, introduction of smart sensors & devices, rise in adoption of cloud-based IoT solutions, evolution of business models across end user industries, and rise in inclination of industries, such as manufacturing and mining towards process automation are all factors that have a significant impact on the global Internet of Everything market. For instance, in February 2022, the Indian government drafted a draught IoT policy with the goal to create a connected and smart IoT-based system for the country's economy, society, environment, and global requirements. This policy established the Smart City initiative, with a goal of building 100 smart cities across the country and a budget of INR 7,060 crores ($93.13 USD). The establishment of the Digital India Program is a continuation of this effort, with the goal to transform the Indian society into a digitally enabled society and boost the IoT sector. Thus, driving the growth of the Internet of Everything industry.
By component, the hardware segment acquired major share in the Internet of Everything industry. The growth of this industry is fueled by increase in smartphone penetration and the use of 4G and 5G networks. To meet the rise in customer demand, major firms are progressively manufacturing low-cost sensors and other components. The market for hardware components is predicted to develop in tandem with the adoption of cloud computing and big data applications.
Region-wise, North America dominated the market in 2020, and is expected to maintain this trend during the forecast period. The expansion of IoE in this region has been facilitated by technology improvements and a rise in the number of linked devices for every home. The use of IoE solutions in the region is dominated by the manufacturing and government industries.
The demand for Internet of Everything applications has increased considerably during the COVID-19 pandemic. This is attributed to increase in digitization of businesses and adoption of IoE in the medical sector. Digi solutions, which links hospitals, medical offices, and other health institutions with remote patients at home while maintaining complete security and Health Insurance Portability and Accountability Act (HIPAA) compliance for faster care and improved patient outcomes, has given the market a significant boost. Moreover, reduction in maintenance and increase in efficiencies by using wireless systems and sensors in remote locations have increased the adoption of IoE across various industry verticals. Thus, these factors promote the growth of the Internet of Everything industry during the pandemic situation.
Key findings of the Study
- By component, the hardware segment led the highest Internet of Everything market share, in terms of revenue in 2020.
- By industry vertical, the healthcare segment is expected to exhibit the fastest growth rate during the Internet of Everything market forecast period.
- Region-wise, North America generated the highest revenue in 2020.
Companies Mentioned
- AMAZON WEB SERVICES INC.
- AT&T INTELLECTUAL PROPERTY
- BOSCH SOFTWARE INNOVATIONS GMBH
- CISCO SYSTEMS, INC.
- FUJITSU LIMITED
- GOOGLE INC.
- HEWLETT-PACKARD ENTERPRISE
- INTERNATIONAL BUSINESS MACHINES CORPORATION
- MICROSOFT CORPORATION
- SAP
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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