Need for secure, reliable, and high-speed network connectivity, growth in requirement for connected devices, and ability to incorporate non-standalone as well as standalone components of IoT ecosystem drives the demand for IoT Connectivity market
The global IoT Connectivity market size is anticipated to reach at USD 10 billion by 2025. The extended usage of internet of things, big data, and machine learning technology, along with artificial intelligence and probabilistic logic has paved the way for a greater development of IoT connectivity past few years. The evolution of Internet of Things (IoT) solutions has also fueled the growth momentum of the industry with its various applications in the advancements of the interactive software platform. The industry players operating within the IoT connectivity market are investing significant resources to continuous product development in order to keep up with the market dynamics.
The industries such as healthcare, retail/logistics, grid & utilities, and manufacturing services that utilize different IoT systems to provide real-time data on a large scale exhibit high growth potential for IoT connectivity. The rapid surge of these technologies is accredited to the reducing costs of the devices coupled with reducing the component size by making it compact and user friendly to use.
Based on the application, the market is segmented into connected health, smart retail, smart manufacturing, building and home automation, smart transportation, smart grid & utilities, and others. The market for smart manufacturing is anticipated to possess a significant market share in 2019 since the IoT connectivity are used for planning and designing the stages of manufacturing procedures, hence, creating huge growth prospects. On the other hand, growing investments in the industrial automation is expected to fuel the industry growth in the next five years.
The global IoT connectivity market has strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
The global IoT connectivity solution industry is a wide range to North America, Asia Pacific, Europe, South America, and the Middle East & Africa. The Asia Pacific region is expected to be the prominent region with India as the largest IoT connectivity market. Countries such as Japan, China, and South Korea are anticipated to be at the forefront in the adoption of IoT connectivity owing to increased technological investment in the countries. Moreover, rising trend of cloud-based solution in medium and large industries propels the demand for IoT connectivity in the region.
The major players of the global IoT connectivity solution market are AT&T, Verizon, Vodafone, Cisco, Ericsson, Sierra Wireless, Telefónica, Huawei, Telit, Orange, Hologram, Particle, Aeris, Sigfox, and more. The IoT connectivity solution market is fragmented with the existence of well-known global and domestic players across the globe.
Segment Overview of Global IoT Connectivity Market
Component Overview, 2018-2025 (USD Billion)
Organization Size Overview, 2018-2025 (USD Billion)
- Large Enterprises
Application Overview, 2018-2025 (USD Billion)
- Connected Health
- Smart Retail
- Smart Manufacturing
- Building and Home Automation
- Smart Transportation
- Smart Grid & Utilities
Regional Overview, 2018-2025 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America