The Internet of Everything (IoE) market is projected to be worth US$ 1.2 billion in 2023 and is anticipated to grow to US$ 5.0 billion by 2033, with a Compound Annual Growth Rate (CAGR) of 15.2%. This signifies a substantial increase in the market’s value over the next decade. The IoE market encompasses the interconnectedness of devices and systems, fostering a network that enhances efficiency and connectivity across various industries. As we move forward, the IoE is expected to play a pivotal role in shaping technological landscapes, driving innovation, and creating new opportunities for businesses.
FMI, in its recent statement, highlighted the rapid proliferation of connected devices. It also emphasized the noteworthy expansion of technology investments in prominent nations like Finland and Singapore. Additionally, the increasing adoption of ICT (Information and Communication Technology) products, with a particular surge in demand within the Asia-Pacific region, is poised to fuel the exponential growth of the worldwide Internet of Everything (IoE) market.
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Further, the explosion of big data and a growing need for enhanced customer experience in public, telecom and media, and banking, financial services and insurance (BFSI) sectors are likely to increase the adoption of IoE solutions and technology in the near future.
This report includes two segments, namely, business-to-business (B2B) IoE components and IoE verticals. B2B IoE components are further sub-segmented into intelligent systems, infrastructure enablement spending, and services enablement spending.
Among all the aforementioned sub-segments, intelligent systems accounted for more than 80% of the global IoE market share in 2013; however, this is expected to decrease by 620 BPS by 2020. The global IoE market can also be segmented into consumer and B2B verticals. IoE B2B segment growth is 1.1 times of the IoE consumer segment’s CAGR in 2020.
This report also covers eight types of B2B IoE verticals in the global IoE market. Among the B2B IoE verticals, manufacturing and public sectors dominated with over 50% share of the global market in 2013. However, the healthcare sector is anticipated to exhibit the fastest CAGR of 20.6% during the forecast period, followed by the utility sector. Improved eHealth delivery has contributed to the increased uptake of IoE solutions in the healthcare sector.
Key Players in the Market:
- Google LLC
- Cisco Systems, Inc.
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- Schneider Electric
- General Electric
- Qualcomm
- Apple Inc.
- SAP SE
- Accenture PLC
- Amazon
- Samsung Electronics
For instance,
- In March 2021, Oracle released enhancements to its existing Oracle Fusion Cloud Supply Chain and Manufacturing platform. Further updates include IoT Production Monitoring Capabilities and IoT Asset Monitoring that will enable customers to monitor the key characteristics of their assets.
- In February 2021, Siemens, Red Hat, and IBM released a Hybrid Cloud initiative that will increase the real-time value of Industrial IoT data.
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Internet of Everything Industry Segmentation:
By Component:
- IoE Hardware
- Sensors
- RFID Tags
- Smart Devices
- Others
- IoE Software
- Data Management
- Device Management
- Connectivity Management
- Others
- Services
- Professional
- Consulting
- Implementation
- Support & Maintenance
- Managed
- Professional
By Network Technology:
- Wi-Fi
- Bluetooth
- NFC
- Others
By Application:
- Smart Homes
- Mobile & Wearable Devices
- Connected Cars
- Smart Cities
- Others
By Vertical:
- BFSI
- Manufacturing
- Transportation & Logistics
- Healthcare
- IT & Telecom
- Retail
- Energy & Utility
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
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