Global IoT Market to be Worth USD 1,463.19 Billion by 2027 at 24.9% CAGR; Demand for Real-time Insights to Spur Growth, says Fortune Business Insights

By Globe Newswire4 days ago


Pune, India, April 08, 2021 (GLOBE NEWSWIRE) -- The global IoT market is set to gain impetus from the rising adoption of digital twin by a wide range of industries. They help in transforming the physical assets of the industries into a virtual representation. It further aids in controlling, examining, and viewing the operations based on the digital platform. The Internet of Things (IoT) market size was USD 250.72 billion in 2019 and is projected to reach USD 1,463.19 billion by 2027, exhibiting a CAGR of 24.9% during the forecast period. Fortune Business Insights™ provided this information in a recent study, titled, “Internet of Things (IoT) Market Size, Share & Covid-19 Impact Analysis, By Component (Platform, Solution and Services), By Platform (Device Management, Cloud Platform, and Network Management), By Solution (Real-Time Streaming Analytics, Security, Data Management, Remote Monitoring, Network Band Management), By End-Use (BFSI, Retail, Government, Healthcare, Manufacturing, Transportation, IT & Telecom, and Others), and Regional Forecast, 2020-2027.“

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