Global IoT Technology Market Size study, By Node Component (Processor, Connectivity IC, Memory Device, Sensor, Logic Device), By Software Solution (Data Management, Real-Time Streaming Analytics, Network Bandwidth Management, Remote Monitoring, Security Solution), By Platform (Device Management, Application Management, Network Management), By Service (Professional Services, Managed Services), By End-Use (Healthcare, Automotive & Transportation, Building Automation, Manufacturing, Retail, BFSI, Oil & Gas, Agriculture, Aerospace & Defense, Wearable Devices, Consumer Electronics), and Regional Forecasts 2022-2028

"Global IoT Technology Market is valued approximately USD XX billion in 2021and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2028.  The Internet of things (IoT) technology can be described as the integration of software, sensors, processing ability, and other technologies with a physical object. This technology connects and exchanges data with other systems and devices with the help of the internet or other communications networks. 

The emergence of 5G communications technology, rising use of wireless smart sensors and networks, growing need for data centers, coupled with the increasing adoption of cloud platforms are the chief factors that are bolstering the market demand across the globe. For instance, according to Statista, in 2020, nearly 226 million mobile 5G subscriptions were recorded and it is expected the amount will increase and reach 3000 million by 2025. Thereby, the increasing penetration of 5G technology is propelling the demand for IoT technology in the near future. 

However, interoperability and lack of common standards, and unsettled concerns regarding the security and privacy of user data impede the growth of the market over the forecast period of 2022-2028. Also, rising government support for research and development of IoT technologies and the growing adoption of IoT in healthcare is anticipated to act as a catalyzing factor for the market demand during the forecast period.

The key regions considered for the global IoT Technology Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the rising investments in the R&D activities in the field of IoT by various public and private organizations and the adoption of emerging technologies. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the rising proliferation of the internet, as well as the growth of the developing countries such as India, China, and Australia, would create lucrative growth prospects for the IoT Technology market across the Asia-Pacific region.

Major market players included in this report are:
Intel Corporation 
Qualcomm Technologies, Inc.  
Texas Instruments Incorporated 
STMicroelectronics NV
IBM Corporation
Hewlett Packard Enterprise Company
Cisco Systems, Inc. 
Microsoft Corporation 
PTC, Inc.
Amazon Web Services, Inc.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Node Component offerings of key players. The detailed segments and sub-segment of the market are explained below: 

By Node Component:
Processor
Connectivity IC
Memory Device
Sensor
Logic Device
By Software Solution:
Data Management
Real-Time Streaming Analytics
Network Bandwidth Management
Remote Monitoring
Security Solution
By Platform:
Device Management
Application Management
Network Management
By Service:
Professional Services
Managed Services
By End-Use:
Healthcare
Automotive & Transportation
Building Automation
Manufacturing
Retail
BFSI
Oil & Gas
Agriculture
Aerospace & Defense
Wearable Devices
Consumer Electronics
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia 
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028 
Target Audience of the Global IoT Technology Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors