Iot Infrastructure Enabling Seamless Connectivity

 

The IoT infrastructure market consists of hardware, software, and services that enable seamless connectivity of devices. IoT infrastructure plays a crucial role in connecting sensors, machines, vehicles, industrial equipment, consumer products and other items embedded with electronics that interact and exchange data with minimal human intervention. This allows for remote monitoring as well as collection and exchange of huge amounts of data from interconnected physical objects and devices. The global IoT infrastructure market is estimated to be valued at US$ 611.00 Bn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Growth accelerated by increasing adoption across industries. One of the key trends driving the growth of the IoT infrastructure market is the increasing adoption of IoT technology across various industries such as manufacturing, healthcare, retail, transportation and logistics. IoT enables industries to gain real-time insights from data collected by connected devices, automate business processes for improved productivity and efficiency, enhance customer experiences, and make informed decisions. This is leading to increasing investments by industries in developing IoT infrastructure to integrate connected devices and sensors with existing IT systems. For instance, Boeing’s new 787 Dreamliner contains over 1000000 lines of code and uses IoT technology to monitors thousands of data inputs during flights which helps detect issues quickly and reduce downtime.

Segment Analysis

The Global Iot Infrastructure Market Growth is dominated by the connectivity sub-segment. It accounted for over 35% share of the overall market in 2024. This is due to the rising need for connectivity solutions such as integrated circuit, network infrastructure and others for seamless communication between IoT devices. Rising adoption of connected devices in industries is driving the demand for robust connectivity infrastructure.

Key Takeaways

The global IoT infrastructure market is expected to witness high growth over the forecast period. Rapid penetration of connected devices across sectors is propelling the need for advanced IoT infrastructure.

Regional analysis: North America dominated the IoT infrastructure market in 2024 with over 35% share due to strong technological advancement and high disposable income in the region. However, Asia Pacific is expected to grow at the fastest pace during the forecast period owing to increasing digitization in countries like China and India.

Key players operating in the IoT infrastructure market are Belden Inc., Alpha Wire, General Cable Corporation, L-Com Global Connectivity, LS Cable & System, Southwire, TE Connectivity Ltd, Nexans S.A., Amphenol Corporation, and Coleman Cable Inc. Belden Inc.and TE Connectivity Ltd captured significant market share due to their innovative connectivity solutions and global footprint.

Get More Insights On This Topic: https://www.newsstatix.com/iot-infrastructure-market-size-share-analysis-2023-2030/

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