News Highlights: Global IoT Market & Technology Forecast 2020-2029 – Growth in support infrastructure, extensive internet connectivity and high mobile adoption
DUBLIN– (BUSINESS WIRE) –The “Global IoT Market & Technology Forecast to 2029 report ”has been added to ResearchAndMarkets.com’s offering.
The global IoT market would be dominated by three regions: North America, Western Europe and Asia Pacific. The Asia Pacific market is expected to make up more than 30% of the total market. The global IoT market is expected to grow at a CAGR of approximately 10.2% over the forecast period, the market is expected to grow from $ 916.9 billion in 2020 to $ 1994.3 billion in 2029. The cumulative market will move towards expected to reach $ 13100 billion.
The cost of implementation and legacy devices is expected to hold back the growth of the IoT market during the forecast period. The current IoT market is fragmented and one of the main challenges is the lack of standardization. Bottlenecks are expected as the IoT market grows, which would result in the shift from cloud computing to edge computing and then to a mesh …
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