Enterprise IoT Market By Amazon.com, Inc; Cisco Systems, Inc.; IBM Corporation; Intel Corporation; Microsoft Corporation

[sara James]

The global Enterprise Iot Market size is expected to reach USD 1416.8 billion by 2030 and is projected to expand at a compound annual growth rate (CAGR) of 13.5% from 2022 to 2030, based on a new report by Grand View Research, Inc. The growing adoption of cloud-based platforms and rising demand for digitalization are fueling the growth of the market. Additionally, enterprise IoT is a new era of global transformation driven by advancements in technology, growing economic opportunities, and increasing demand for operational efficiency. These factors are expected to boost the market growth exponentially.

Furthermore, by enhancing the quality of life, embracing digitalization, and boosting internet of things (IoT) efficiency, the smart city initiative meets the needs of the next generation and inspires businesses to adopt IoT. The market is expanding as small businesses adopt the IoT at a faster rate while the cost of the connected devices falls. Additionally, the rise in trends toward shared security offers numerous opportunities for the global market, thereby propelling the global market.

Moreover, the enterprise IoT is anticipated to positively impact a wide range of businesses, stakeholders, favorable government regulations, and business models to promote adoption across industries worldwide. For instance, in March 2022, Intel Corporation introduced the 12th generation intel core processors to get extreme business performance. The company has introduced this in industrial IoT to increase the business class experience. As a result, it is anticipated to fuel the overall growth of the global IoT enterprise market.

The COVID-19 pandemic has adversely affected the market growth. Lockdowns have been implemented worldwide, which has impacted product development, and manufacturing and has disrupted the supply chain. However, the COVID-19 pandemic opened up new growth opportunities for the market, as the global health crisis increased the demand for solutions that can aid patients to obtain care remotely. In addition, businesses and industries have also initiated investment in technological reforms such as automation, IoT, and AI among others which is expected to catalyze market growth.

Related Press Release@ Enterprise IoT Market Report

Enterprise IoT Market Report Highlights

• The manufacturing segment accounted for over 60% of the total revenue share in 2021 owing to the emergence of industry 4.0
• The small and medium-sized enterprise segment accounted for the largest market share in 2021. This growth can be attributed to rising government initiatives across major nations in the world for SMEs in enterprise IoT
• The software & solutions segment is anticipated to grow at a CAGR of 15.6% during the forecast period owing to its usage in provisioning, firmware upgrades, reporting, security patching, and notifying on certain metrics associated with enterprise IoT
• North America market accounted for the highest market share in 2021. This growth is due to the presence of significant technology providers such as Cisco, Amazon.com, Inc

Enterprise IoT Market Report Scope

Report Attribute	Details
Market size value in 2022	USD 516.09 billion
Revenue forecast in 2030	USD 1,416.8 billion
Growth rate	CAGR of 13.5% from 2022 to 2030
Base year for estimation	2021
Historical data	2018 - 2020
Forecast period	2022 - 2030

 

Related Reports@

Enterprise Software Market

Enterprise Data Management Market

Enterprise IoT Market Segmentation

Grand View Research has segmented the enterprise IoT market based on component, enterprise type, end-use, and region:

Enterprise IoT Component Outlook (Revenue, USD Billion, 2018 - 2030)

• Hardware
• Software & Solutions
• • Surveillance & Security
  • Network & Connectivity Management
  • Data Management
  • Application Management
  • Device Management
• Services

Enterprise IoT Enterprise Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Small & Medium Sized Enterprise
• Large Enterprise

Enterprise IoT End-use Outlook (Revenue, USD Billion, 2018 - 2030)

• Manufacturing
• Oil & Gas
• Utilities
• Transport
• BFSI
• IT & Telecomm
• Healthcare
• Others

Enterprise IoT Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
• • U.S.
  • Canada
  • Mexico
• Europe
• • Germany
  • U.K.
  • Rest of Europe
• Asia Pacific
• • China
  • Japan
  • India
  • Rest of Asia
• Latin America
• • Brazil
  • Rest of Latin America
• Middle East & Africa

List of Key Players of the Enterprise IoT Market

• Amazon.com, Inc.
• Cisco Systems, Inc.
• IBM Corporation
• Intel Corporation
• Microsoft Corporation
• Oracle Corporation
• SAP SE
• Siemens AG
• PTC Inc.
• Robert Bosch, Inc.