Internet of Things Market size to increase by USD 695.38 billion | Industrial segment to offer significant growth opportunity | Technavio |

NEW YORK , March 10, 2022 /PRNewswire/ — The global internet of things market size is expected to increase by USD 695.38 billion between 2020 and 2025. The market witnessed year-over-year growth of 18.97% in 2021. However, the growth momentum is expected to decelerate at a CAGR of 13.77% during the forecast period.

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The market is driven by technological developments across industries. In addition, the exponential growth of internet-connected and operated devices will further propel the growth of the global IoT market. However, factors such as the lack of awareness of efficient management of IoT initiatives and investments, increasing cybersecurity threats, and the high cost of implementation of IoT will hamper the market growth.

Internet Of Things Market: End-user Landscape

Based on the end-users, the market is segmented by industrial, retail, healthcare, ICT, and others. The demand and adoption of IoT technologies are significant among industrial end-users. Industrial operators are increasingly adopting IoT solutions to ensure a smooth transition of their manufacturing operations. These solutions are also enabling industrial operators to control and maintain all the equipment remotely. Such factors are fostering the growth of the industrial end-user segment.

Internet Of Things Market: Geographic Landscape

By geography, APAC is going to have a lucrative growth during the forecast period. About 34% of the market’s overall growth is expected to originate from APAC. The modernization of small and medium-sized enterprises (SMEs) in countries such as China, India, and the Philippines is increasing the adoption of IoT technologies. Besides, many governments in APAC countries are undertaking various initiatives to develop smart cities and deliver better public services. Many such factors are driving the growth of the IoT market in APAC. China is the key market for IoT in APAC.

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Companies Covered:

The global IoT market is fragmented due to the presence of a large number of players. Vendors are trying to consolidate their market position by increasing their product offerings and partnering with other companies as well as suppliers. Vendors are also focusing on expanding their business in new geographies and opting for vertical integration with system integrators to help them increase their market reach. These are some of the dominant players identified in the market:

  • Alphabet Inc.
  • Cisco Systems Inc.
  • Honeywell International Inc.
  • Intel Corp.
  • International Business Machines Corp.
  • Microsoft Corp.
  • Oracle Corp.
  • Robert Bosch GmbH
  • SAP SE
  • Siemens AG

What our reports offer:

  • Market share assessments for the regional and country-level segments
  • Strategic recommendations for the new entrants
  • Covers market data for 2020, 2021, until 2025
  • Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
  • Strategic recommendations in key business segments based on the market estimations
  • Competitive landscaping mapping the key common trends
  • Company profiling with detailed strategies, financials, and recent developments
  • Supply chain trends mapping the latest technological advancements

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Related Reports:

Global Internet of Things (IoT) Market in Retail Applications 2022-2026: The global internet of things market in retail applications is segmented by technology (RFID, sensors, NFC, cloud services, and others) and geography (APAC, North America, Europe, MEA, and South America).

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Global Smart City Market 2021-2025: The global smart city market is segmented by application (smart infrastructure, smart energy, smart mobility, smart security, and others) and geography (Europe, North America, APAC, South America, and MEA).

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Internet Of Things Market Scope

Report Coverage


Page number


Base year


Forecast period


Growth momentum & CAGR

Decelerate at a CAGR of 14%

Market growth 2021-2025

USD 695.38 billion

Market structure


YoY growth (%)


Regional analysis

APAC, North America, Europe, MEA, and South America

Performing market contribution

APAC at 34%

Key consumer countries

US, China, Germany, Norway, and France

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Alphabet Inc., Cisco Systems Inc., Honeywell International Inc., Intel Corp., International Business Machines Corp., Microsoft Corp., Oracle Corp., Robert Bosch GmbH, SAP SE, and Siemens AG

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 – 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by End-user

  • Market segments
  • Comparison by End-user
  • Industrial – Market size and forecast 2020-2025
  • Retail – Market size and forecast 2020-2025
  • Healthcare – Market size and forecast 2020-2025
  • ICT – Market size and forecast 2020-2025
  • Others – Market size and forecast 2020-2025
  • Market opportunity by End-user

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC – Market size and forecast 2020-2025
  • North America – Market size and forecast 2020-2025
  • Europe – Market size and forecast 2020-2025
  • MEA – Market size and forecast 2020-2025
  • South America – Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Alphabet Inc.
  • Cisco Systems Inc.
  • Honeywell International Inc.
  • Intel Corp.
  • International Business Machines Corp.
  • Microsoft Corp.
  • Oracle Corp.
  • Robert Bosch GmbH
  • SAP SE
  • Siemens AG


  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

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