The Business Research Company’s Internet Of Things (IoT) Market Global Report 2020: COVID-19 Growth and Change. The report covers market size, key players, market share and trends to 2030.
Internet Of Things (IoT) Market Global Report 2020: COVID-19 Growth and Change is one of a series of new reports from The Business Research Company that provide Internet Of Things (IoT) market overviews, analyze and forecast market size and growth for the whole market, Internet Of Things (IoT) market segments and geographies, Internet Of Things (IoT) market trends, Internet Of Things (IoT) market geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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The Internet of Things (IoT) market consists of sales of IoT and related services that are used in building and home automation, smart energy and utilities, connected logistics, smart retail, smart mobility, and transportation. The internet of things, or IoT, is a collection of interconnected smart devices, mechanical and digital machines, objects, animals or people supplied with unique identifiers (UIDs) and the ability to transmit data across a network without needing human-to-human or human-to-computer interaction.
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The global internet of things (IoT) market is expected to decline from $255.83 billion in 2019 to $247.97 billion in 2020 at a compound annual growth rate (CAGR) of -3.07%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $519.87 billion in 2023 at CAGR of 27.99%.
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