The global Enterprise Iot Market size is expected to reach USD 1416.8 billion by 2030 and is projected to expand at a compound annual growth rate (CAGR) of 13.5% from 2022 to 2030, based on a new report by Grand View Research, Inc. The growing adoption of cloud-based platforms and rising demand for digitalization are fueling the growth of the market. Additionally, enterprise IoT is a new era of global transformation driven by advancements in technology, growing economic opportunities, and increasing demand for operational efficiency. These factors are expected to boost the market growth exponentially.
Furthermore, by enhancing the quality of life, embracing digitalization, and boosting internet of things (IoT) efficiency, the smart city initiative meets the needs of the next generation and inspires businesses to adopt IoT. The market is expanding as small businesses adopt the IoT at a faster rate while the cost of the connected devices falls. Additionally, the rise in trends toward shared security offers numerous opportunities for the global market, thereby propelling the global market.Moreover, the enterprise IoT is anticipated to positively impact a wide range of businesses, stakeholders, favorable government regulations, and business models to promote adoption across industries worldwide. For instance, in March 2022, Intel Corporation introduced the 12th generation intel core processors to get extreme business performance. The company has introduced this in industrial IoT to increase the business class experience. As a result, it is anticipated to fuel the overall growth of the global IoT enterprise market.The COVID-19 pandemic has adversely affected the market growth. Lockdowns have been implemented worldwide, which has impacted product development, and manufacturing and has disrupted the supply chain. However, the COVID-19 pandemic opened up new growth opportunities for the market, as the global health crisis increased the demand for solutions that can aid patients to obtain care remotely. In addition, businesses and industries have also initiated investment in technological reforms such as automation, IoT, and AI among others which is expected to catalyze market growth.
Related Press Release@ Enterprise IoT Market Report
Enterprise IoT Market Report Highlights
| Report Attribute | Details |
| Market size value in 2022 | USD 516.09 billion |
| Revenue forecast in 2030 | USD 1,416.8 billion |
| Growth rate | CAGR of 13.5% from 2022 to 2030 |
| Base year for estimation | 2021 |
| Historical data | 2018 - 2020 |
| Forecast period | 2022 - 2030 |
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Enterprise IoT Market Segmentation
Grand View Research has segmented the enterprise IoT market based on component, enterprise type, end-use, and region:
Enterprise IoT Component Outlook (Revenue, USD Billion, 2018 - 2030)
Enterprise IoT Enterprise Type Outlook (Revenue, USD Billion, 2018 - 2030)
Enterprise IoT End-use Outlook (Revenue, USD Billion, 2018 - 2030)
Enterprise IoT Regional Outlook (Revenue, USD Billion, 2018 - 2030)
List of Key Players of the Enterprise IoT Market