Global IoT Connectivity Market to Grow at 21.67% During 2024-2032, Bolstered by Emerging Automation Trend

January 03, 2022 | Technology & Media

As per the latest report by IMARC Group titled, “IoT Connectivity Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” the global IoT connectivity market is expected to grow at a CAGR of 21.67% during 2024-2032. Internet of things (IoT) connectivity refers to the connection between the points in the IoT ecosystem, such as sensors, routers, applications, gateways, platforms, and other systems. It relies on various network solutions, depending on the range, bandwidth and power consumption. For instance, a Wi-Fi system is a widely utilized wireless communication technology that provides internet services to numerous devices like smartphones, computers and laptops.

 Global IoT Connectivity Market Trends: 
The market is primarily driven by the widespread adoption of IoT technology in the commercial sector to derive data-driven insights, boost productivity and efficiency, create new business models and revenue streams, and expand business globally. In addition, the emerging automation trend in industrial processes is escalating the demand for IoT connectivity to continuously monitor products and address quality defects in real-time. Besides this, the market is favored by the growing adoption of IoT wearables in the healthcare industry as they are utilized to remotely monitor a patient. Along with this, IoT devices are employed to track the health and safety of workers working in hazardous conditions. Moreover, the increasing sales of luxury cars are driving the demand for IoT connectivity to aid device-to-device communication. Furthermore, the increasing investments by governments of different countries in developing smart cities are also creating a positive market outlook. 

Market Summary:

  • On the basis of the component, the market has been bifurcated into solutions and services.
  • Based on the application, the market has been classified into buildings and home automation, smart energy and utility, smart manufacturing, smart retail, smart transportation, and others. 
  • The market has been segmented based on the enterprise size into small and medium, and large enterprises. 
  • Based on the end-use industry, the market has been segregated into BFSI, healthcare, travel and hospitality, defense and aerospace, IT and telecommunication, retail and e-commerce, manufacturing, and others.
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the industry has also been examined, along with the profiles of the key players being Aeris Communications India Pvt. Ltd, AT&T Inc., Cisco Systems Inc., Huawei Technologies Co. Ltd., Orange, Sierra Wireless, Sigfox, Telefonaktiebolaget LM Ericsson, Telefónica S.A., Telit IoT Platforms, LLC, Verizon Communications Inc. and Vodafone Group Plc.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Component, Application, Enterprise Size, End Use Industry, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Aeris Communications India Pvt. Ltd, AT&T Inc., Cisco Systems Inc., Huawei Technologies Co. Ltd., Orange, Sierra Wireless, Sigfox, Telefonaktiebolaget LM Ericsson, Telefónica S.A., Telit IoT Platforms, LLC, Verizon Communications Inc. and Vodafone Group Plc
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global IoT Connectivity Market to Grow at 21.67% During 2024-2032, Bolstered by Emerging Automation Trend
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