The revenue is forecast to experience significant growth in all segments in 2029. As part of the positive trend, the indicator achieves the maximum value across all seven different segments by the end of the comparison period. Notably, the segment Industrial IoT stands out with the highest value of 11.1 billion U.S. dollars.
Data provided by Statista Market Insights are estimates.
Definition:
The term Internet of Things (IoT) describes a network of physical and virtual devices that are able to communicate autonomously with each other using the Internet Protocol (IP). The physical devices are embedded with sensors, software and connectivity capabilities that enable them to collect and exchange data over the internet. Its scope encompasses a wide range of use cases from household objects to more complex industrial applications.
Structure:
The IoT market consists of 7 different segments. Consumer IoT includes connected devices used by end users for personal purposes such as smart security cameras or smart home hubs. Smart Finance covers IoT applications used in financial sectors such as insurance telematics/usage-based insurance, real estate, ATMs. IoT in Healthcare covers all IoT applications in a healthcare setting such as the ones used for patient care, remote patient monitoring and surgeries. The Industrial IoT covers IoT applications in Industrial settings such as the factory & agriculture automation, supply chain optimization and predictive maintenance. Automotive IoT covers IoT use cases in mobility and transportation settings, such as the V2X connections, advanced driver assistance systems (ADAS) & telematics solutions. Other IoT covers use cases such as the ones used in professional sports such as player or equipment tracking.
Additional information:
The Internet of Things market compromises of revenue, revenue growth, IoT Investment, and a list of top companies and their consolidated revenues. The market consists of pure IoT revenues generated through the sale of hardware (such as sensors, chips, and other hardware), platforms (IoT platforms, security software and other software), connectivity (cellular, LoRa, SigFox and other connectivity) and services (integration &maintenance of equipment & systems). As an example, the pure IoT revenue for a smart security camera is only the component that makes the camera 'smart' and connected, not the full product price. Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.
The market is fragmented, but the key players in the market include Cisco (Cisco IoT platforms and software), Qualcomm, Dell EMC, and IBM.
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Statista Market Insights. (June 27, 2024). Revenue in the Internet of Things market for different segments Japan from 2019 to 2029 (in million U.S. dollars) [Graph]. In Statista. Retrieved November 03, 2024, from https://www.statista.com/forecasts/1444578/revenue-internet-of-things-market-for-different-segments-japan
Statista Market Insights. "Revenue in the Internet of Things market for different segments Japan from 2019 to 2029 (in million U.S. dollars)." Chart. June 27, 2024. Statista. Accessed November 03, 2024. https://www.statista.com/forecasts/1444578/revenue-internet-of-things-market-for-different-segments-japan
Statista Market Insights. (2024). Revenue in the Internet of Things market for different segments Japan from 2019 to 2029 (in million U.S. dollars). Statista. Statista Inc.. Accessed: November 03, 2024. https://www.statista.com/forecasts/1444578/revenue-internet-of-things-market-for-different-segments-japan
Statista Market Insights. "Revenue in The Internet of Things Market for Different Segments Japan from 2019 to 2029 (in Million U.S. Dollars)." Statista, Statista Inc., 27 Jun 2024, https://www.statista.com/forecasts/1444578/revenue-internet-of-things-market-for-different-segments-japan
Statista Market Insights, Revenue in the Internet of Things market for different segments Japan from 2019 to 2029 (in million U.S. dollars) Statista, https://www.statista.com/forecasts/1444578/revenue-internet-of-things-market-for-different-segments-japan (last visited November 03, 2024)
Revenue in the Internet of Things market for different segments Japan from 2019 to 2029 (in million U.S. dollars) [Graph], Statista Market Insights, June 27, 2024. [Online]. Available: https://www.statista.com/forecasts/1444578/revenue-internet-of-things-market-for-different-segments-japan