United States Internet of Things (IoT) Market

United States Internet of Things Market Overview

Internet of Things is the connection of several devices to the internet by the use of embedded sensors and software for communicating, collecting, and exchanging data among each other. The internet of things offers a virtually endless array of connections and opportunities at the workplace and home and combines the connectivity with devices, sensors, and people for allowing free-flow of conversation between software and hardware, man, and machine. With the advancements in machine learning and artificial intelligence, such conversations can allow devices to respond, react, anticipate, and enhance the physical world in almost the same way as the internet currently uses the computer screens and networks to improve the world of information.

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Major United States Internet of Things Market Drivers

Increasing development of the wireless networking technologies, the rising adoption of the cloud platform, along with the arrival of advanced data processing and data analytics, are the key factors driving the growth of the internet of things market in the United States. Increasing investments by the government for the development of smart cities is propelling the growth of United States internet of things market during the forecast period. In addition to this, the increasing investments in the IoT systems and the emerging trends for artificial intelligence and security assurance are the other major factors that have accelerated the growth of the internet of things market across the country. Moreover, the growing deployment of IoT devices across several sectors, including defense, energy, agriculture, healthcare, and industrial operations, along with the reducing price of sensors, are encouraging the consumers to opt for IoT-enabled devices over the coming years. The factors which are responsible for restraining the growth of United States internet of things market are the security, privacy of the data, and the legal and regulatory challenges.

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Based on the component, the software segment is projected to grow at a higher CAGR in the coming years. The software segment addresses its main networking areas through embedded systems, middleware, platforms, and others. The increasing applications for performing various activities such as device integration, collection of data, real-time analytics, and process and application extension within an IoT network, is the major factor that is surging the demand of the segment. The real-time analytics is responsible for collecting the input or data from several devices and convert it into clear patterns for the analysis of human.

On the basis of the node component, the sensor segment is expected to witness a higher CAGR during the forecast period. The sensor segment is one of the key drivers for the expansion of the internet of things. The device is responsible for the measurement of physical inputs and transforming it into raw data, which is then stored digitally for the analysis and access. The miniaturization of the sensors has enabled them to be integrated into smart devices hence expanding their capacity beyond data analytics and measurement. All these factors are responsible for the growing demand for the segment in the market.

On the basis of application, the smart manufacturing segment is anticipated to lead the market over the coming years. Smart manufacturing enables the managers of the factory to analyze and collect data for making better decisions automatically and to optimize the production process. The data from machines and sensors is communicated to the cloud by the IoT connectivity solutions that are installed in the factory. The IoT technology provides both wireless and wired connectivity, enables the flow of data, thus providing the ability to manage and monitor the processes and change plans in real-time accordingly.

Based on network infrastructure, the storage segment is projected to grow at a higher CAGR during the forecast period. This segment helps in managing and capturing the data and provides the capabilities to compute which analyze and aggregate the data in real time for delivering actionable and immediate insights at the level of the device.

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Top Market Players

Various notable players operating in the United States Internet of Things market include IBM Corporation, Intel Corporation, SAP SE, Cisco Systems Inc., Microsoft Corporation, Oracle Corporation, PTC Inc, Google LLC, Hewlett Packard Enterprise, and Amazon Web Services, Inc. among others.

Key Market Developments: 

• • In 2019, IBM launched a supply chain service that is based on blockchain and open-source software, which was incorporated by the acquisition of a company called RedHat. By the use of open APIs, the supply chain suite enables the manufacturers, distributors, and retailers to integrate their networks and data and of the suppliers.
  • In 2018, Intel entered into a partnership with Arm for offering solutions that can run securely onboard both Intel and Arm IoT devices to any type of cloud framework or application.

Segments covered in the Report:

United States Internet of Things (IoT) Market has been segmented on the basis of category and end-use. Based on category, the market is segmented into device hardware, systems integration, software solutions and network connectivity. Based on end-use, the market is segmented into manufacturing, automotive, agriculture, retail, healthcare, transportation and logistics and others.

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Key questions answered in this research report:

• • At what pace is the United States Internet of Things market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the United States Internet of Things market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the United States Internet of Things market?
  • What are the various application areas of the United States Internet of Things market, and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

United States IoT Market by Category

• • Device Hardware
  • Systems Integration
  • Software Solutions
  • Network Connectivity

United States IoT Market by End-Use

• • Manufacturing
  • Automotive
  • Agriculture
  • Retail
  • Healthcare
  • Transportation and Logistics
  • Others

Leading market players (Option 1: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • IBM Corporation
  • Intel Corporation
  • SAP SE
  • Cisco Systems, Inc.
  • Microsoft Corporation
  • Oracle Corporation
  • PTC Inc
  • Google LLC
  • Hewlett Packard Enterprise
  • Amazon Web Services, Inc.