According to the new reportpublished by Industry Research Place Global IoT Connectivity Market is valued at USD 44.28 Million in 2020 and is expected to reach USD 316.44 Million by 2026 with the CAGR of 38.79 % over the forecast period
This report analyses the global market for IoT Connectivity. The report will enable the user to understand and gain insights into the current and forecast market situation. The market is comprehensively analyzed by geography to give complete information on the global scenario. The qualitative and quantitative data provided in this study can help user understand which market segments, regions are expected to grow at higher rates, factors affecting the market and key opportunity areas. The report also includes competitive landscape of key players in the industry along with emerging trends in the market.
Based on Device Type, the market for IoT Connectivity Market is segmented into IoT and Non-IoT. The Non IoT segment was valued at USD 22.84 billion in the year 2020 and is forecasted to reach a value of USD 80.96 billion in the year 2026, registering a CAGR of 23.48% during the period of assessment.
Based on type, the market for IoT Connectivity Market is segmented into WAN, Cellular and Others. The WAN segment was valued at USD 31.96 million in the year 2020 and is forecasted to reach a value of USD 224.49 million in the year 2026, registering a CAGR of 38.39% during the period of assessment.
Based on Application, the market for IoT Connectivity Market is segmented into Smart Cities, Industrial IOT, Connected Health, Smart Homes, Connected Cars, Wearables, Smart Utilities, and Others. The WAN segment was valued at USD 31.96 million in the year 2020 and is forecasted to reach a value of USD 224.49 million in the year 2026, registering a CAGR of 38.39% during the period of assessment.
Global IoT Connectivity Market Trends and Opportunities
IoT Edge Computing
Edge computing for the Internet of Things (IoT) permits IoT placements to be improved through data processing closer to the end device. This results in lower latency and enhanced efficacies in data transport. Edge computing is changing the way data is being handled, processed, and delivered from millions of devices around the world. The explosive growth of internet-connected devices – the IoT – alongside with new applications that oblige real-time computing power continues to drive edge-computing systems. Faster networking technologies, such as 5G wireless, are permitting for edge computing systems to accelerate the creation or support of real-time applications, such as video processing and analytics, self-driving cars, artificial intelligence and robotics, to name a few.
Blockchain for the IoT
The launch of Bitcoin in 2008 indicated that distributed ledger technologies could be used to create a decentralised, peer-to-peer trust network where transactions in the form of payments could be secured without depending on a central authority. These similar technologies are now being applied to the Internet of Things to support new ways of delivering products and services for this new, vastly distributed, world.
Big Data, Machine Learning (ML) and Artificial Intelligence (AI)
The Internet of Things is subsequent in the generation of a enormous amount of data. Key to getting value out of this data is the ability to combine rich data sets from multiple systems, organizations and verticals with the application of big data platforms, machine learning and artificial intelligence. The GSMA continues to work with the mobile industry on best practices and commercial case studies showing how the IoT can be transformational when huge, diverse data sets are processed using advanced analytical techniques.
Innovative prime technologies and a propagation of devices have helped fuel the growth of IoT technologies. Certainly, investments in IoT technology are projected to grow at 13.6 percent per year through 2022. Additional growth in the coming years will be possible thanks to new sensors, more computing power, and reliable mobile connectivity. Sensor technology implanted in IoT devices will continue to become cheaper, more advanced, and more widely available. In turn, this availability and cost-effectiveness will make new sensor applications possible, with large-scale monitoring and detection. For now, computing power has amplified about 100 times in the past 15 years. Applications such as real-time analytics and artificial intelligence can thus shift activity from local devices toward cloud and edge computing solutions. In addition, enhanced mobile connectivity with the initiation of 5G will allow new applications for involvements such as augmented and virtual reality.
Recent Development in Global IoT Connectivity Market
Construction begins on £22.4 million National Robotarium in the UK
The UK has begun construction of a £22.4 million National Robotarium in Edinburgh which aims to solidify the country as a leader in AI and robotics.
Semtech and DTDS Accelerate IoT Development With New Module
Semtech Corporation and DTDS Technology (DTDS), a distribution company in the field of electronic components and design value-added services, have announced the development of a new module operating on the LoRaWAN® protocol. DTDS’s “622 Module” leverages an integrated Renesas MCU to offer enhanced network coverage and strength in automotive and industrial Internet of Things (IoT) applications.
uCIFI Alliance, Dedicated to Providing IoT Device Interoperability, Releases Unified Data Model for Smart City & Utility Devices
uCIFI Alliance brings market leaders, cities and utilities together via a unified data model that enables a native communication format between connected sensors on cellular, NB-IoT and LoRaWAN® networks, as well as an open source reference implementation on Wi-SUN mesh to be released as another cornerstone of the alliance’s vision.
Turning to Rust Development For IoT Performance
Rust is an up-and-coming programming language that provides secure application performance for device-run code. Rust is an open source systems programming language developed by the Mozilla Foundation. It’s designed to be memory safe, fast, and with the ability to easily support concurrency. AI Ups the Ante for IoT Cybersecurity Security providers in IT and OT have implemented AI, ML and other advanced technologies to make systems smarter than malicious attackers.
Global IoT Connectivity Market COVID-19 impact Analysis
This report highlights the impact of the Covid-19 pandemic on Global IoT Connectivity Market. By combining data from a range of industry sources, as well as predictive modeling and market trend analysis, we provide an evidence-based set of projections that will allow organizations to plan their strategies more effectively. The report gives in depth analysis of short term and long term impacts of epidemic on the industry.
The COVID 19 impact assessment of Global IoT Connectivity Market is divided into following sections:
Section1: Pre Lockdown
This part of the report looks at how market changed throughout early 2020, as the spread of COVID-19 intensified on different geographies.
Section2: During Lockdown
This part of the report collects data from across the sector to know how people have responded to lockdown. It analyses the impact of the epidemic on the workforce in the industry and disruption in various regions and countries
Section3: Post Lockdown
This part of the report project what sector recovery could look like and summarizes ways in which the business landscape could shift.
Get COVID 19 Impact Analysis on GlobalIoT Connectivity Market Here:https://industryresearchplace.com/enquiry-now/MjU0NTU5
•An overview of the Global IoT Connectivity market
•In depth analysis of market dynamics and major factors such as drivers, restraints, opportunities and trends influencing the global market
•Global IoT Connectivity market revenue data historic and forecast analysis (2016 to 2026)
•Characterization and quantification of the market segments for IoT Connectivity market
•Market share analysis of key market participants and their competitive landscape
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Important Questions Answered by Global IoT Connectivity Market Report
•What is the impact of COVID 19 epidemic on the Global IoT Connectivity market?
•Which is mostly affected region, country?
•Which is the current largest and fastest-growing region?
•What is the market size and growth rate of the Global IoT Connectivity market?
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