Internet of Things Market Size, Share, Growth, Trends, Analysis and Forecast To 2023 | Credence Research

According to a new market report published by Credence Research, Inc. “Internet of Things Market By Type (Hardware, Software, Service), By Software (Data Management, Security, Analytics, Communication, Other Software), By Service (Consulting, Implementation & Integration, Operation Management, Other Services), By Deployment Model (On-premise, Cloud-based), By End-User Vertical (Consumer Vertical, B2B Vertical), By B2B Vertical (Public Sector, Retail, BFSI, Healthcare, Manufacturing, Energy & Utility, IT & Telecom, Transportation) – Growth, Share, Opportunities & Competitive Analysis, 2016 -2023”, the global internet of things market is expected to witness a steady growth, expanding at a CAGR of over 19% from 2016 to 2023.

Browse the full report at

Market Insights

Growing digitization of business models both front-end and back-end across major end-user verticals and increasing government initiatives and support to deploy IoT technologies in small- and mid-sized enterprises is driving growth of the internet of things market worldwide. However, high cost associated with deployment of connected devices and intelligent systems is hampering growth of the market especially in developing regions such as Asia-Pacific and Latin America.

Competitive Insights:

The global internet of things market is fragmented in nature, with top players constituting less than 40% market share of the overall market revenue. Currently, Microsoft Corporation, IBM Corporation and Google Inc. are the dominant players in the global Internet of things market. These players follow the strategy of acquiring regional players to enter untapped market and increase customer base. Also, key vendors are concentrating on entering strategic partnership to develop and introduce industry-specific IoT platforms and solutions to gain first mover advantage. The prominent players operating in the global Internet of things market are IBM Corporation, Cisco Systems, Inc., Google Inc., Hewlett-Packard Company, Microsoft Corporation, Accenture PLC, Oracle Corporation, SAP S.E., General Electric (GE), and Telefonica S.A.

Key Trends:

  • Growing adoption of cloud-based IoT solution and platform to intensify competition among players in the market
  • Large vendors are focusing on acquiring regional players
  • Surge in strategic partnerships and joint ventures among prominent players
  • Introduction of advanced connected systems and sensors by vendors

Download Free PDF Sample Request:

Table of Content

  1. Preface
    1.1. Report Scope and Description
    1.2. Research Methodology
    1.2.1. Phase I-Secondary Research
    1.2.2. Phase II-Primary Research
    1.2.3. Phase II-Expert Panel Review
    1.2.4. Assumptions
    1.2.5. Approach Adopted
  2. Executive Summary
    2.1. Global Internet of Things Market Snapshot
  3. Market Dynamics: Internet of Things 
    3.1. Introduction
    3.1.1. Global Internet of Things Market Revenue and Y-o-Y Growth, 2014 – 2023
    3.2. Market Dynamics
    3.2.1. Market Drivers
    3.2.2. Restraints
    3.2.3. Impact Analysis of Market Drivers and Restraints
    3.3. Ecosystem Analysis
    3.4. Market Positioning of Key Players
  4. Market Inclination Insights: Internet of Things
    4.1. Overview
    4.1.1. Evolution of Internet of Things
    4.1.2. Market Ecosystem
    4.1.3. Key Trends Analysis
  5. Global Internet of Things Market Revenue, By Type, 2014 – 2023 (US$ Bn) 
    5.1. Hardware (Intelligent System, Smart Devices etc.)
    5.2. Software
    5.3. Service
  6. Global Internet of Things Market Revenue, By Software, 2014 – 2023 (US$ Bn) 
    6.1. Data Management Software
    6.2. Security Software
    6.3. Analytics Software
    6.4. Communication Software
    6.5. Other Software
  7. Global Internet of Things Market Revenue, By Service, 2014 – 2023 (US$ Bn) 
    7.1. Consulting
    7.2. Implementation & Integration
    7.3. Operation Management
    7.4. Repair & Maintenance
    7.5. Other Services
  8. Global Internet of Things Market Revenue, By Deployment Model, 2014 – 2023 (US$ Bn) 
    8.1. On-premise
    8.2. Cloud-based
  9. Global Internet of Things Market Revenue, By End-User Vertical, 2014 – 2023 (US$ Bn) 
    9.1. Consumer Vertical
    9.2. B2B Vertical
    9.2.1. Public Sector
    9.2.2. Retail
    9.2.3. BFSI
    9.2.4. Healthcare
    9.2.5. Manufacturing
    9.2.6. Energy & Utility
    9.2.7. IT & Telecom
    9.2.8. Transportation

Do Enquiry before Buying for research report:

Medium Blog:

About Us

Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.

Media Contact

Name: Chris Smith

Address: 105 N 1st ST #429,


Toll-Free (US/CANADA) Ph.: +1-800-361-8290



Facebook Comments

Share this post