IoT [New] The Global Internet of Things (IoT) Security Market was valued at USD 1490.34 million in 2019, and it is expected to reach a value of USD 7994.97 million by 2025, registering a CAGR of 31.87% over the forecast period (2020-2025). [New] The Industrial IoT market will grow from USD 68.8 billion in 2019 to USD 98.2 billion by 2024, at a Compound Annual Growth Rate of 7.4% during the forecast period (2019-2024). [New] The IoT chip market is expected to register a CAGR of 13.5% during the forecast period 2020-2025. [New] With the expanding application of IoT, the global internet of things market is expected to witness a double digit growth over the coming years. Global IoT spending will return to double-digit growth rates in 2021 and achieve a compound annual growth rate of 11.3% over the 2020-2024 forecast period. Worldwide spending on the Internet of Things (IoT) has been significantly impacted by the economic effects of the COVID-19 pandemic in 2020, although a back to double-digit growth rebound is expected both in the mid and long-term. The global impact of COVID-19 on the IoT market size is expected to grow from USD 150 billion in 2019 to USD 243 billion by 2021, at a Compound Annual Growth Rate of 13.7% during the forecast period. ABI Research issued a forecast at the start of 2020 that 0.36 billion new wide-area IoT connections, on both fixed and wireless networks, will be added in the year, taking the total installed base to 1.97 billion IoT connections worldwide. Consumer Internet of Things Market is growing at a High CAGR during the forecast period 2020-2026. Global IoT in Construction Market is valued approximately USD 7.8 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 16.5% over the forecast period 2020-2027. The global Internet of Things (IoT) in Energy Market size is expected to grow from USD 20.2 billion in 2020 to USD 35.2 billion by 2025, at a Compound Annual Growth Rate of 11.8% during the forecast period. Internet of Things (IoT) - the number of connected devices in the world is expected to reach 30 billion by the end of 2020. The total installed base of Internet of Things (IoT) connected devices is projected to amount to 75.44 billion worldwide by 2025 - a fivefold increase in 10 years. Increasing expenditure by the major vendors operating in the industry on Internet of Things and enhancements is anticipated to positively impact the growth of market over the next few years. The military IoT market in North America is expected to register a CAGR of 10.85% during the forecast period. The global military IoT market is expected to account for USD 17,720.6 million by 2024, registering a CAGR of 10.64% during the forecast period of 2019 to 2024. The global market for the Internet of Things in Buildings will rise from $22.93Bn in 2014 to over $85Bn in 2020. By 2022, the world's networks will connect to 14.6 billion Internet of Things (IoT) devices. The number of unique mobile subscribers will reach 5.9 billion by 2025, while the number of IoT connected devices will grow to a staggering 25 billion - with the number business-related connected devices overtaking the number of consumer-related devices in 2023. This year, global spending on IoT is forecast to total $195bn and the number of IoT devices is set to rise to 20.4 billion worldwide. Spending on internet of things technology is expected to hit $248 billion this year, more than twice the amount spent three years ago. The annual impact of IoT technology on the global economy is up to $11 trillion by 2025 across different sectors. Overall, IoT connected devices per capita grow from 4.47 in 2019 to 13.24 in 2030. See full forecast Last updated: 05 July 2020 Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No
