IoT market | rises gradually with the adoption of new technologies | Forecast, 2021-2030

Internet of Things (IoT) Industry

The global IoT market is segmented into components, deployment, organization size, platform, technology, industry vertical, and region.

PORTLAND, PORTLAND, OR, USA, July 24, 2022 /EINPresswire.com/ — High penetration of IoT-based solutions in the energy sector and increased adoption of network technologies have driven the growth of the global market internet of things (IoT) market.

On the other hand, the increase in the adoption of IoT and AI in the energy industry and the deployment of the smart grid for energy optimization in commercial, domestic and industrial buildings are expected to open lucrative opportunities in the future.

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Covid-19 scenario:

• The Covid-19 pandemic has had a positive impact on the market due to the increased adoption of work-from-home culture across the globe.

• During the pandemic, IoT has proven to be of great benefit to the energy sector as it has enabled remote control of energy consumption.

The report splits the global Energy Internet of Things (IoT) market on the basis of component, network technology, application, organization size, and region.

Based on components, the solutions segment held the largest share in 2021, accounting for more than two-thirds of the market. However, the services segment is expected to show the highest CAGR of 22.1% during the forecast period.

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Based on networking technology, the radio networking segment captured the lion’s share in 2021, contributing about two-thirds of the market. However, the cellular network segment is estimated to have the highest CAGR of 25.4% from 2022 to 2031.

The report offers analysis of the global Energy Internet of Things (IoT) market across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The North American market held the lion’s share in 2021, accounting for around two-fifths of the market. However, the Asia-Pacific market is expected to show the highest CAGR of 24.0% during the forecast period.

The Global Internet of IoT in Energy Market report includes an in-depth analysis of major market players such as Accenture PLC, HCL Technologies, Bosch, Cisco, Google Inc., Hewlett-Packard, IBM Corporation, Intel Corporation, SAP SE and Schneider Electric.

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Main benefits for stakeholders:

• The study provides in-depth analysis of the IoT market share along with current trends and future estimates to elucidate impending investment pockets.

• Information on major drivers, restraints and opportunities and their impact analysis on the IoT market size is provided.

• Porter’s Five Forces Analysis illustrates the power of buyers and suppliers operating in the IoT industry.

• Quantitative analysis of the IoT market share from 2020 to 2030 is provided to determine the potential of the Internet of Things industry.

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Finally, this report provides market insights in the most comprehensive way. The structure of the report has been kept to provide maximum business value. It provides essential insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those looking to enter the market.

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