Internet Of Things Market size to grow by USD 1,036.83 billion from 2022 to 2027

The Internet of Things market size is estimated to increase by USD 1,036.83 billion from 2022 to 2027, with a CAGR of 15.12%, according to a recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report -Request a sample report

The market share growth by the industrial segment will be significant during the forecast period. The industrial sector is experiencing positive outcomes from the implementation of IoT technology which helps in improving business productivity and gaining a competitive advantage. Through software integration machines and devices are connected to the internet enabling data to be generated. This data is used to gain insights into the manufacturing process allowing for predictive maintenance and performance optimization on the factory floor.

The Internet of Things market is segmented by geography into APAC, North America, Europe, the Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the Internet of Things market.