Iot Infrastructure Market Is Estimated To Witness High Growth Owing To Trends In Edge Computing

The Iot Infrastructure Market is estimated to be valued at US$ 611.00 Bn in 2023 and is expected to exhibit a CAGR of 30% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

IoT infrastructure consists of interconnected devices and systems that collect and share data about their conditions and surrounding environment. IoT infrastructure enables companies to gain valuable business insights by connecting and gathering data from various assets such as vehicles, machinery and supply chains, among others. This allow organizations to increase operational efficiency, enhance productivity and reduce costs.

Market key trends:

The rapid adoption of edge computing across various industries is estimated to be a major trend fueling the growth of the IoT infrastructure market. Edge computing helps organizations process and analyze data closer to sensors and IoT devices where data is generated. This reduces latency issues and ensures real-time analysis and insights. Moreover, edge computing enables organizations to manage large volumes of data generated from IoT devices in a cost-effective manner without requiring cloud connectivity at all times. The adoption of edge computing is expected to grow significantly over the forecast period as more businesses leverage IoT for critical applications such as predictive maintenance and real-time monitoring.

Porter’s Analysis

Threat of new entrants: The Iot Infrastructure market has moderate threat of new entrants as it requires huge initial capital investment in technology and infrastructure development. However, few barriers for new players are easy access to required technologies and emergence of niche players focusing on specific applications.

Bargaining power of buyers: Buyers have moderate bargaining power in Iot Infrastructure market due to availability of substitutes and preference for technologies with lower implementation and infrastructure costs. However,Switching costs for established technologies and customized requirements increase their dependence.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power due platforms have capability to make or break their businesses. However, differentiated and key components increase supplier power to some extent.

Threat of new substitutes: Threat of substitutes is high with emergence of new technologies like edge computing,5G and AI acting as substitutes by fulfilling requirements more efficiently at lower costs.

Competitive rivalry: Market dominated by technology giants and competition is high based on pricing models and capabilities.

SWOT Analysis

Strength: Wide range of solutions and domain expertise. Growing adoption across industries maximizing returns.

Weakness: High initial investment and complexity of architecture. Fragmented regulatory landscape increases compliance costs.

Opportunity: Emerging applications in autonomous vehicles, smart cities presents large addressable market. Regional expansions into developing markets.

Threats: Stringent data privacy laws. Dependence on third party infrastructure raises security concerns.

Key Takeaways

The Global Iot Infrastructure Market Size is expected to witness high growth, exhibiting CAGR of 30% over the forecast period, due to increasing demand for cloud-based solutions and managed services. The market size for 2023 is US$ 611.00 Bn.

Regional analysis Asia Pacific region dominates the global market currently and is expected to grow at fastest pace due to increasing investments by Chinese and Japanese technology companies in development of 5G infrastructure and smart cities. North America and Europe are also major markets however Asia Pacific presents largest opportunity.

Key players operating in the Iot Infrastructure market are CISCO Systems, INC., Amazon Web Services Inc., Accenture PLC, IBM Corporation, Microsoft Corporation, SAP SE, Oracle Corporation, Intel Corporation, PTC Inc., and AT&T Inc. These companies focus on collaborations and partnerships to expand capabilities and gain larger share.

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