The Internet of Everything (IoE) is a concept that refers to the network of connections between people, things, data, and processes that provide general intelligence. It involves the intelligent connection of people, processes, data, and things, with the aim of delivering new levels of efficiency, convenience, and productivity. IoE is a broader umbrella term than the Internet of Things (IoT), as it encompasses many other technological transitions beyond just the IoT.
Global Internet of Everything Market Share was valued at USD 390.4 Billion in 2022. The Internet of Everything market industry is projected to grow from USD 490.7 Billion in 2023 to USD 2,899.4 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 28.89% during the forecast period (2023 – 2030).
Additionally, automation of thing communications, alongside the growing user-generated communications and interactions associated with the global entirety of networked devices, boosts the market size. Rising deployments of IoT devices and growing automation across industries create vast market demand.
The rise in deployments of connected devices and digital sensors, remote appliances, and connected mobile devices push the market sale. Furthermore, the emergence of disruptive technologies such as artificial intelligence (AI) and big data analytics, along with the rising cloud computing infrastructure services, act as major tailwinds for the market increase.
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Global IoE Market – Segments
The market analysis is segmented into components, network technologies, applications, end-users, and regions. The component segment is sub-segmented into hardware, software, and services (consulting services, implementation services, and others). The network technology segment is sub-segmented into Wi-Fi, Bluetooth, cellular technologies, GPS/GNSS, NFC devices & tags, RFID tags (active & passive), low-power wide-area network (LPWAN), fixed-line, satellite, others.
The application segment is sub-segmented into connected cars, smart homes, wearable computing & mobile devices, smart cities & buildings, smart metering, and others. The end-user segment is sub-segmented into government, retail, BFSI, healthcare, IT & telecom, manufacturing, energy & utilities, transportation & logistics, and others. The region segment is sub-segmented into Europe, Americas, Asia-Pacific, and the Rest-of-the-World.
Global Internet of Everything Market – Geographical Analysis
North America leads the global internet of everything (IoE) market. Factors such as the presence of network giants and increasing adoption of Narrowband IoT modules & applications drive the market growth. Besides, advanced network infrastructure and increased IoT expenditure among the leading industrial giants substantiate the market size. North America is likely to remain the dominating region during the forecast period.
Global IoE Market – Competitive Landscape
Highly competitive, the IoE market appears fragmented, with several well-established players forming a competitive landscape. Innovation, mergers & acquisitions, and brand reinforcement remain key trends for these players to gain a larger competitive share. They make substantial R&D investments in the development of new technologies and cost-effective portfolios. Also, considerable investments are fostered in expanding global footprints and gaining diverse expertise.
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Players leading the global IoE market are AT& T Inc. (US), Cisco System Inc (US), Nokia Corporation (Finland), Ericsson AB (Sweden), Juniper Networks (US), Huawei Technologies Co Ltd.(China), Robert Bosch AG (Germany), SAMSUNG (South Korea), Koninklijke Philips N.V (Netherlands), Infineon Technologies (US), Qualcomm (US), Texas Instruments (US), Amazon Web Services (US), and SAP SE (France), among others.
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