Internet of Everything (IoE) Market Size, Segments, and Growth by 2031

Improvements in the internet technology through which sending and receiving of data between smart devices via network connectivity have led to innovation of new technology called Internet of Everything (IoE). IoE is a combination of Internet of people (IoP) and machine to machine (M2M). The use of M2M communication technology is primarily for the monitoring of remotely connected machines, thereby converting them to intelligent assets. Cellular network, radio-frequency identification (RFID), intelligent sensors, and connectivity platforms are the major components of M2M communication. Whereas, IoP includes all the devices and electronic systems that communicate data with end users.

IoE specifies to consumer products and devices linked to the internet and have digital features. It is an ideology for future with different types of devices, products and appliances connected to the worldwide internet. Thereby, enabling smarter machines that have more access to data and enhanced networking opportunities. IoE caters to an array of applications that include industrial machine learning systems, digital sensor interfaces/tools utilized for remote appliances, smarter and connected mobile devices and other distributed smart/automated hardware.

The global IoE market is segmented into two end-user verticals: business to business (B2B) and consumer. The B2B segment is further sub-segmented into public sector, transportation sector, communication & media sector, healthcare sector, retail sector, manufacturing sector, BFSI (banking, financial services and insurance) sector and utility sector. Among these mentioned IoE B2B verticals, manufacturing sector heads the global IoE market and then the public sector. Though, healthcare sector market is growing fastest across the world. The IoE market is bifurcated based on technologies into application technologies, infrastructure technologies and network technologies. The global IoE market is bifurcated on the basis of regions into North America, Europe, Asia Pacific, South America and Middle East & Africa.

North America dominates the global IoE market followed by Europe and Asia Pacific. IoE market is a growing market as it generates extraordinary opportunities for organizations, individuals, communities and countries to gain huge value from networked connections through data, processes, things and people. The major reason for the growth of IoE market in the upcoming years is the highly growing use of the internet. The market is in the promising stage and is expected to grow further as it offers benefits like decision making and enhancing operational efficiency. It performs merging of technologies such as mobility, data analytics, social networks and cloud computing by way of inexpensive intelligent sensors. The growing acceptance by local, federal and state governments; non-governmental organizations, healthcare organizations and educational institutions creates many opportunities for IoE market in the future. The growing demand between high speed processors, high network speed and internet security equipment helped to create the stable market.

Internet security is an issue that can hampers the market growth. Also, low speed of internet is a major restraint in IoE market. Advancements in standardized technologies and ultra-low power will also help in the growth of IoE market. The development of big-data analytics has taken wireless enabled services and applications of IoE to a new level creating a demand for the IoE market.

PTC Inc., Axiros GmbH, Hewlett-Packard Development Company, L.P, SAP SE, Oracle Corporation, Apple Inc., Continental AG, Atmel Corporation, Accenture PLC, Cisco Systems, Inc., Microsoft Corporation, International Business Machines Corp., Ericsson, Schneider Electric SE, Amazon.com, Inc., Freescale Semiconductor, General Electric Company, Enlighted Inc., Samsung Electronics Co. Ltd., Telefonica S.A, Qualcomm Technologies, Inc., Altimetrik Inc. and Wireless Logic Group Ltd are some of the key players in the industry.

Internet of Everything (IoE) Report Scope