The global Internet of Everything (IoE) market is valued at approximately USD million in 2021 and is expected to grow at a healthy growth rate of over $$% in the forecast period 2022-2028. The Internet of Everything (IoE) refers to the networking of people, processes, data and things. In the Internet of Everything (IoE) concept, billions of objects work on sensors to detect, measure and evaluate their state, and all of them are connected over public or private networks using standard and proprietary protocols.
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Increasing automation across several industries and growing demand for cloud-based IoT solutions, as well as recent product innovations by major market players, are factors that are accelerating global market demand. For example, according to Statista in 2021, the global industrial automation market was $175 billion. The market is expected to grow compoundly annual growth rate (CAGR) of approximately 9% between 20201 and 2025 to reach $265 billion by 2025. Furthermore, key market players are working towards product innovations to leverage the growing adoption of Internet of Everything solutions. For example, in March 2021, US-based Oracle released updates to its existing Oracle Fusion Cloud Supply Chain and Manufacturing platform. The company has included IoT production monitoring capabilities and IoT asset monitoring capabilities to allow customers to monitor key characteristics of their assets. Furthermore, growing public investments towards smart city projects and increasing penetration of IoE solutions in the healthcare sector are expected to act as a catalyst for market demand during the forecast period. However, high implementation and maintenance costs associated with IoE solutions impede market growth in the forecast period 2022-2028.
The key regions considered for the global Internet of Everything (IoE) market study include Asia Pacific, North America, Europe, Latin America and the rest of the world. North America is the leading region globally in terms of market share due to the presence of the necessary technological infrastructure and major market players in the region. On the other hand, Asia Pacific is expected to show a significant growth rate in the forecast period 2022-2028. Factors such as growing industrialization and increasing penetration of 5G technologies in the region would create lucrative growth prospects for the global Internet of Everything (IoE) market across the Asia Pacific region.
Key market players included in this report are:
Amazon Web Services Inc.
AT&T Intellectual Property
Bosch Software Innovations Gmbh
Cisco Systems, Inc.
International business machinery company
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The objective of the study is to define the market sizes of different segments and countries in recent years and predict the values for the next eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry in each of the regions and countries involved in the study. Furthermore, the report also provides detailed information about the crucial aspects such as drivers and challenges that will define the future growth of the market. Furthermore, the report should also include opportunities available in micro markets for interested parties to invest along with detailed analysis of the competitive landscape and product offerings of key players.
The detailed segments and sub-segments of the market are explained below:
By end use sector
IT and Telecommunications
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Rest of the world
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