Internet of Things – Thematic Research

The Internet of Things, or IoT, describes the use of connected sensors and actuators to control and monitor the environment, the things that move within it, and the people that act within it. Use cases include the automated home, the connected car, wearable technology, the automated home, smart cities, and predictive maintenance for industrial machinery.

Scope

This report provides an overview of the Internet of Things (IoT) theme.

It identifies the key trends impacting growth of the theme over the next 12 to 24 months, split into three categories: technology trends, macroeconomic trends, and regulatory trends.

It contains a comprehensive industry analysis, including market size and growth forecasts for both enterprise and consumer IoT, details of M&A deals driven by the IoT theme, and analysis of patent trends.

The detailed value chain shows comprises five layers: devices, connectivity, data, apps, and services. Leading and challenging vendors are identified across each of the five layers.

Key Highlights

For IoT technology to become truly pervasive, two things need to happen: latency levels need to drop to allow real-time decision making, and IoT deployments need to operate more autonomously. Advances in data center technology are already pushing more intelligence to the edge of data networks, reducing latency, while Artificial Intelligence of Things (AIoT) technology is gradually reducing the role of human decision-making in many IoT ecosystems.

Pervasive IoT will become closer to reality as AIoT and edge computing – both nascent technologies – mature, perhaps in a decade or so for markets such as autonomous trucks.

From a wearable fitness tracker to a smart speaker at home, from a connected car to a smart building, and from advanced automation to asset tracking, IoT plays a role in every aspect of life in every industry. COVID-19 has highlighted the crucial role the IoT has come to play in our lives. Many traditional use-cases like smart city projects were put on hold as businesses coped with the pandemic-driven economic slowdown and governments reprioritized budgets in response to the health crisis. By contrast, several IoT use cases saw growing adoption during the pandemic, such as using connected thermal cameras to detect potential COVID-19 infections and sensors for monitoring office occupancy levels. The demand for technologies that can help the workforce get safely back to work is rising and will likely continue to grow. IoT applications such as contact tracing devices and health-monitoring wearables provide critical data to help fight the pandemic.

Historically, much of the actual value of IoT came from industrial applications. This is not the flashy multicolored world of the automated home. It’s the domain of grimy factory machines. Currently, the consumer IoT market is beginning to take off. More than 5 billion consumers own a smartphone. We expect spending on wearable technology to increase from $59bn in 2020 to $156bn by 2024. Penetration of automated home technology is rising too, with our forecasts for spending on the automated home rising from $66bn in 2020 to $93bn by 2024.

The next phase of IoT has the potential to transform how we live and work. As IoT penetration extends to the point of being pervasive, entirely new business models will emerge. IoT networks will even do business with one another, providing services resulting from autonomous, or near-autonomous, collaboration. IoT enabled factories could operate with far greater efficiency and flexibility. Farms could increase productivity and improve sustainability. Cities could optimize their use of resources and offer residents all kinds of new services at a lower cost. To make these new IoT ecosystems more intelligent and communicative and reduce the human-machine gap, connected things will be embedded with AI capabilities.

Reasons to buy

We forecast the global IoT market to reach $1.1 trillion in revenue by 2024. Enterprise IoT will account for 73% of market revenue by 2024, down from 76% in 2020, while the consumer segment will make up 27% in 2024, up from 24% in 2020, with significant growth coming from wearables. In a post-COVID-19 world, we expect a new wave of digital transformation to fuel higher growth across all IoT markets.

This report includes a comprehensive technology briefing, which identifies five major IoT markets (automated home, connected car, wearable technology, smart cities, and Industrial Internet). It also discusses key enabling technologies for IoT, including AI, cloud computing, 5G, and cybersecurity, and analyzes the four stages of IoT development.

As well as market forecasts for the global IoT market, this report also includes forecasts to 2024 for consumer and enterprise IoT, and the five major IoT markets.

The value chain identifies leading vendors and notable challengers across all layers, including devices, connectivity, data, and apps.

Companies mentioned

AAC Technologies

Accenture

Accton

Actifio

ADT

Akamai

Alarm.com

Alibaba

Alphabet

Alps Electric

Alteryx

Altibase

Amazon

Ambarella

AMD

AMS

Analog Devices

Apple

Arcadia Data

Arista Networks

Arm

Armis

Arup

AT&T

Atkins

Atos

Attivio

Audi

BAE Systems

Baidu

Bentley Systems

Bharti Airtel

BigPanda

Black & Veatch

BMC Software

BMW

Boeing

Bosch

Broadcom

BT Group

C3.ai

Canon

Capgemini

Celestica

Check Point Software

Chicony

China Mobile

China Telecom

China Unicom

Ciena

Cisco

Citrix Systems

Cloudera

Cognex

Cognizant

Comcast

Continental

Control4

Couchbase

CrowdStrike

Daimler

Darktrace

Dassault Systèmes

Data Virtuality

Dataiku

Datameer

DataRobot

DataStax

DataTorrent

DataVirtuality

Dell Technologies

Deloitte

Delphix

Denodo Technologies

Denso

Deutsche Telekom

Didi Chuxing

DJI

Domo

Dundas

DXC Technologies

EnterpriseDB

Equinix

Ericsson

Exago

Exasol

Exeros Technologies

Extreme Networks

F5 Networks

Facebook

FICO

FireEye

Floow

Fortinet

Fujifilm

Fujitsu

Gafcon

Garmin

GE

Geely

Genpact

Geotab

Goertek

Google

GoPro

HCL Technologies

Here Technologies

Hikvision

Hitachi

Hitachi Vantara

Holitech Technology

HollySys

Honeywell

HPE

HTC

Huawei

IBM

iFlytek

InetSoft

Infineon

Infor

Informatica

Information Builders

Infosys

INRIX

Inspur

Intel

JD.com

Juniper Networks

Kakao

Kanematsu

KDDI

Keboola

Keyence

KNIME

Knowles

Konica Minolta

KT

Kyvos

Largan Precision

Leadspace

Lenovo

LG Electronics

LG Innotek

Libelium

Link Labs

Lite-On

Lockheed Martin

Lumen Technologies

Lytx

MapR (HPE)

MarkLogic

McAfee

McKinsey

MediaTek

Microchip

Microsoft

MicroStrategy

MiTAC

Mix Telematics

Mobileye

Mobvoi

MongoDB

Mott McDonald

Murata

Naver

NetApp

Netgear

Nikon

Nippon Ceramic

Nokia

Northrop Grumman

NTT

Nutanix

Nvidia

NXP

Okta

OnStar

OpenText

Oracle

Orange

Palantir

Palo Alto Networks

Panasonic

Panoply

Percona

Plantronics

PostgreSQL

Precisely

Progress Software

PTC

Pure Storage

PwC

Pyramid Analytics

Qlik

Qorvo

Q-Tech

Qualcomm

Quanta Cloud Technology

Rackspace Technologies

Rakuten

Rapid Insight

RapidMiner

Redis Labs

Renesas

Ricoh

Rockwell Automation

Rohm

Rokid

Rstudio

SAIC Motors

Salesforce

Samsara

Samsung Electronics

SAP

SAS

Scality

Schneider Electric

Securonix

Seiko Epson

Sensata

Siemens

Simility (PayPal)

SingTel

Sisense

SK Telekom

Skyworks

Snowflake

Softbank

Software AG

Sonos

Sony

Splunk

STMicroelectronics

Sunny Optical

Surbana Jurong

Talend

Tata Communicationss

Tata Motors

TCS

TDK

TE Connectivity

Telefónica

Telstra

Tencent

Teradata

Tesla

Texas Instruments

Thales

ThoughtSpot

TIBCO

Toshiba

Toyota

Trend Micro

Tsinghua Unigroup

TSMC

Uber

Ubiquiti

Under Armor

Vdoo

Verizon

VMware

Vodafone

VoltDB

Vuzix

VW

Webfleet Solutions

Wipro

Workato

Xiaomi

Xilinx

Yandex

ZTE

Table of Contents

Executive summary

Players

Technology briefing

Trends

Industry analysis

Value chain

Companies

Sector scorecards

Glossary

Further reading

Thematic methodology

    Pricing

Discounts available for multiple purchases.

reportstore@globaldata.com
+44 20 7947 2745

Join our mailing list

Saved reports