Enterprise IoT Market Will Reach 87.7 Billion by 2025. The reports forecast the enterprise IoT market by component, platform, enterprise type and region. It highlights COVID-19 impact on the enterprise IoT industry.

Description

Enterprise IoT Market: by Component (Solution and Services), by Platform (Device Management, Application Management, and Network Management), By Enterprise Type (SMEs and Large Enterprises), and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2020–2025)

The Enterprise IoT market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating in the global market. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region-wise and segment-wise market share/growth analysis. The report's study will outlook one of the most exhaustive analyses of the market, capturing all the aspects of the enterprise IoT industry.

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Enterprise IoT Market: Introduction

The enterprise IoT market is anticipated to be valued at 25.3 billion in 2019 and experience a CAGR of 23.1% over the forecast period (2020-2025). Owing to the rising cloud-based applications and cloud-based data storage, the software segment holds the largest share in the enterprise IoT market. To optimize performance and real-time tracking, companies often use IoT in combination with big data analytics. This trend will gain traction in the global enterprise IoT market growth over the forecast period.

Factors Affecting the Enterprise IoT Market over the Forecast Period

• Growing wireless networking technology and the increase in cloud platforms' adoption are some key drivers for the growth of the enterprise IoT market
• The emergence of sophisticated data analytics and data processing will fuel the growth of the enterprise IoT market
• The market's growth accelerates with the decline in costs of connected devices and IoT penetration in SMEs. Moreover, growth in the shared security model will create significant opportunities in the global enterprise's IoT market.
• The enterprise IoT market may be limited by data protection and privacy. Moreover, interoperability and lack of standardization are hampering the market growth.
• Data transfer from legacy networks and rapid demand for bandwidth requirements pose significant challenges in the global enterprise IoT market.

Impact of COVID-19 on Enterprise IoT Market

The COVID-19 pandemic has an unrivaled impact on the population and economics of the countries. The pandemic impacted the IoT market in various ways, such as the shutdown of manufacturing and fabrication industries. The companies will have to adopt and follow new strategies after the lockdown, in compliance with the government guidelines. Industries across the globe intend to reopen the manufacturing facilities progressively. Moreover, enterprises and industries are expected to invest in digital technology, which will affect the enterprise IoT market.

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Global Enterprise IoT Market: Key Competitors

The global Enterprise IoT market is fragmented, with the presence of a large number of players across the globe. The key players operating in the global Enterprise IoT market include –

• Intel Corporation
• Cisco Systems Incorporation
• Microsoft Corporation
• Oracle Corporation
• IBM Corporation
• Google Incorporated
• Hewlett Packard Enterprise
• Amazon Web Services Incorporated
• Bosch Software Innovations GmbH
• Verizon Communications
• Siemens AG
• AT&T Incorporated
• SAP SE
• Huawei Technologies

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