Internet of Everything Market: Size, Dynamics, Regional Insights, and Market Segment Analysis

Internet of Everything Market was valued at USD 1346.96 Billion in 2023, and it is expected to reach USD 3168.86 Billion by 2030, exhibiting a CAGR of 13% during the forecast period (2024-2030)
Internet of Everything Market Overview:
People, processes, data, and things are the four pillars of the Internet of Everything. The Internet of Everything's key uses includes connecting hospitals and roads to save more lives, connecting people and food in the supply chain, and monitoring geriatric care. Pay-as-you-drive (smart drive meters), smart rubbish bins, and remote healthcare services are all examples of developing Internet of Things business models (IoT). Secondly, sensors, also known as integrated things, are a key component of the Internet of Things, and sensor prices have been rapidly falling in recent years. As a result of these two developments, IOE is becoming a reality.To know about the Research Methodology :- Request Free Sample Report
Research Methodology
MMR conducts a thorough research method to deliver the most accurate market analysis. The organization uses a data triangulation methodology, which aids in assessing market trends and producing precise estimations. The following are essential elements of the research methodology we use for all of our market reports: primary research (trade surveys and expert interviews), desk analysis, and market data analytics model.

The company analyses the market from a 360-degree perspective, or both the supply and demand sides, allowing us to deliver precise information on the whole ecosystem for each research. To get at the final study findings, a Top-Down strategy and Bottom-Up approach are used.

MMR has a big internal industry database store. This is used as a burner to start a new research project. Important secondary sources are:

Governmental organizations, international and national social welfare agencies, and businesses that develop economic policies are a few examples

Business publications, national and international media

Company annual reports, SEC filings, corporate presentations, press releases, news, and specification sheets from manufacturers, system integrators, brick-and-mortar distributors, and retailers, as well as independent online marketplace participants

Whitepapers, technical periodicals, and scientific journals
Internet of Everything Market Dynamics
Market Growth Drivers:

Constant government support for advanced technology adoption is expected to drive growth in the global internet of everything market during the forecast period. Governments in industrialised and rising countries such as Germany, India, Brazil, and Saudi Arabia have begun to implement numerous IT projects and programs to boost spending on modern technology to better serve their population. Additionally, the introduction of smart city projects, smart public transportation projects, and 5-year smart grid projects by electric utilities have boosted IoE acceptance. For example, the Singapore government subsidised ICT items worth $500 million for commercial businesses to embrace modern technology over the following three years in 2013.

In addition, the increased usage of big data analytics is likely to drive growth in the worldwide internet of everything market over the forecast period. The surge in big data analytics across several sectors has revolutionized the way companies are conducted by enterprises, educational institutions, and governments.

The number of records in organizations, especially multinational corporations, increases every 18 months, according to the American Institute of CPAs (AICPA). For example, IBM estimates that 2.5 quintillion bytes of data are created per day in large enterprises, while email users generate 204.2 million emails every minute. As data volumes expand, companies are turning to third-party cloud storage providers, necessitating the development of new off-premise connection platforms and solutions.

Market Trends and Opportunities:

As new technologies spread over the world, the international demand for the internet of everything (IoE) is likely to grow. The importance of digital sensors in a variety of segments is expected to grow in the overall internet of things (IoT) market. Likewise, the necessity to maintain a continuous connection to faraway equipment will be critical to market growth. Another important aspect that has benefited market growth in recent times is the presence of a profitable market for machine learning devices. With the implementation of the internet of everything, several old and new technologies may be enhanced (IoE). As a result, there is little uncertainty that the global internet of things (IoT) segment is expected to generate substantial profits in the forecast period.

Infrastructure spending prioritizes network connection developments. Wired and wireless communication platforms are quickly expanding as a result of global network upgrade efforts such as small cell networks and LTE deployment.

For example, by the end of 2014, 66 3G/4G networks had been implemented in the United States and Canada. As of 2014, 63 3G/4G networks had been implemented in 27 Asian Pacific countries.

Market Growth Restraints:

Over the forecast period, inadequate network infrastructure is likely to hamper the Internet of Everything Market growth. Inadequate network infrastructure is a serious concern in both emerging and industrialized countries.

The Internet of Everything Market is expected to grow slowly over the forecast period due to a lack of understanding about IoE. Low understanding among consumers and B2B sectors in emerging markets about various types of IoE technologies and modules is a big impediment. These technologies have the potential to improve corporate operations and productivity.
Internet of Everything Market Segment Analysis:
Throughout the forecast period, the hardware segment is expected to dominate the market.

In terms of components, the hardware segment accounted for more than half of the internet of everything market in 2023, and it is anticipated that it is expected to continue the top position throughout the forecast period. This is brought on by an increase in smartphone use and the use of 3G and 4G networks. However, the services segment is anticipated to grow at a CAGR of 19.5% from 2024 to 2030, due to a rise in IoE technology and solution adoption across significant and developing B2B verticals including the industrial, healthcare, public, and retail sectors.

During the forecast period, the manufacturing segment will continue its lead.

Manufacturing accounted for the largest market share in 2023, accounting for more than one-fourth of the internet of everything market, and is likely to continue its top position throughout the forecast period. This is attributable to increased expenditures by manufacturers in IoE technology and solutions to streamline operations, provide optimal results, and fulfill the expanding needs of customers. However, due to advancements in healthcare technology, widespread acceptance of healthcare-connected devices, and the necessity to track the location of medical devices, patients, and employees, the healthcare segment is expected to grow at the fastest rate of 19.8% from 2024 to 2030.
Regional Insights
North America held largest market share of the IoE market in 2023. By 2030, it is anticipated that North America is expected to continue to dominate the market in terms of revenue. This is a result of rising government sector spending and telecom industry technology improvements.

The U.S. Internet of Everything market is anticipated to grow at a CAGR of 7.6% during the forecast period. Due to the introduction of cutting-edge technology and rising corporate investment in intelligent production methods and process automation across a range of industries, the U.S. is expected to present opportunities for revenue creation throughout the forecast period.Over the forecast period of 2024–2030, Asia Pacific is expected to have a strong growth rate. The Asia Pacific region's Internet of Everything Market is excepted to have profitable growth opportunities as a result of factors including the region's expanding industrialization and increased use of 5G technology. After China, the IoE market in India is expected to grow significantly, with a 5.5X growth in market size by 2030. India has made technological strides in a variety of industries, including consumer electronics and transportation.

The need and desire of consumers to enhance convenience, utility, and efficiency is what fuels these technology advancements. Additionally, it was demonstrated in 2019 that established as well as small and medium-sized businesses in the industrial production sector have begun to adopt IoT-enabled technology. To monitor their surroundings, many IoT devices rely on a variety of electronic devices, including sensors, cameras, smart lights, smart TVs, smart meters, smartphones, smart wearables, and others.
Report Objectives:
The report covers revenue growth at the global, regional, and country levels (2024-2030), as well as an examination of the most recent strategies and breakthroughs in each sub-sector. For this research, MMR divided the internet of everything market into components, End Users, and regions. The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.

Additionally, the research provides in-depth details on important variables like motivating drivers & challenges that will determine the market's future growth. Along with a thorough examination of the competitive environment and the product offerings of major companies, the report will also include possible possibilities for stakeholders to invest in micro-markets.
Internet of Everything Market Scope: Inquire before buying



Internet of Everything Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 1346.96 Bn.


Forecast Period 2024 to 2030 CAGR:
13%
Market Size in 2030:
US $ 3168.86 Bn.


 Segments Covered:
by Component
Hardware
Software
Services


by Technology
Wi-Fi
Bluetooth
NFC
Other


by Application
Smart Homes
Mobile & Wearable Devices
Connected Cars
Smart Cities
Other


by End User
Government
Retail
BFSI
Healthcare
IT & Telecom
Manufacturing
Energy & Utilities
Transportation & Logistics
Public



Internet of Everything Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key Players Are:
1. Amazon Web Services, Inc (US)
2. AT&T, Inc. (US)
3. Cisco Systems, Inc. (US)
4. Juniper Networks (US)
5. Intel Corporation (US)
6. IBM Corporation (US)
7. Qualcomm Technologies, Inc. (US)
8. C-Labs Corporation (US)
9. Hewlett Packard Enterprise Development LP (US)
10.Microsoft Corporation (US)
11.Google, Inc. (US)
12.General Electric (GE) (US)
13.SAP SE (Germany)
14.Siemens (Germany)
15.Bosch Software Innovations GmbH (Germany)
16.Software AG. (Germany)
17.Royal Dutch Shell (UK)
18.Eastern Peak (UK)
19.ABB Ltd. (Switzerland)
20.Nokia Corporation (Finland)
21.Ericsson AB (Sweden)
22.Peach John Co. Ltd (Japan)
23.Fujitsu Limited (Japan)
24.Wipro Limited (India)
25.Huawei Technolgies Co Ltd. (China)

Frequently Asked Questions:

1] What segments are covered in the Global Internet of Everything Market report?
Ans. The segments covered in the Internet of Everything Market report are based on Component, End-User, and Frequency.

2] Which region is expected to hold the highest share in the Global Internet of Everything Market?
Ans. The North America region is expected to hold the highest share in the Internet of Everything Market.

3] What is the market size of the Global Internet of Everything Market by 2030?
Ans. The market size of the Internet of Everything Market by 2030 is expected to reach USD 3168.86 Bn.

4] What is the forecast period for the Global Internet of Everything Market?
Ans. The forecast period for the Internet of Everything Market is 2024-2030.

5] What was the market size of the Global Internet of Everything Market in 2023?
Ans. The market size of the Internet of Everything Market in 2023 was valued at USD 1346.96 Bn.