Trending

Stories

Global IoT Market Revenue to Surpass $1 Trillion in Worth by 2024: Report

Tidio Live Chat Software - Add Tidio live chat software to your website in minutes. Contact visitors and turn them into happy customers. Enhance their experience and boost your sales. Get it for Free

WP Rocket - WordPress Caching Plugin

Must Read

The global internet of things (IoT) market by revenue will be worth $1.1 trillion by 2024, with much of the growth coming from wearables, a new report said on Wednesday.

The global IoT market was worth $622 billion in 2020, up from $586 billion in 2019. It will grow to reach $1,077 billion by 2024, with a compound annual growth rate (CAGR) of 13 percent over the period, according to data and analytics company GlobalData.

Also Read

The dominance of the enterprise IoT will continue for the foreseeable future. The enterprise IoT dominates the overall IoT market, generating 76 percent of total revenue in 2020.

GlobalData expects this segment to still occupy 73 percent of the overall IoT market in 2024.

Elegant Themes - The most popular WordPress theme in the world and the ultimate WordPress Page Builder. Get a 30-day money-back guarantee. Get it for Free

“The ongoing Covid-19 pandemic has highlighted the crucial role the IoT has come to play in our lives. Several IoT use cases saw growing adoption during the pandemic, including using connected thermal cameras to detect potential Covid-19 infections and sensors for monitoring office occupancy levels,” said Jasaswini Biswal, Associate Project Manager for Thematic Research at GlobalData.

The Covid-19-driven new digital transformation wave will fuel higher growth across all IoT markets.

“The demand for technologies that can help the workforce get safely back to work is rising and will likely continue to grow. IoT applications such as contact tracing devices and health-monitoring wearables provide critical data to help fight the pandemic,” Biswal added.

According to a Globaldata survey, 48 per cent of respondents showed a positive sentiment towards IoT, and 45 per cent believed IoT would play a critical role in the new business generation over the next three years.

iThemes WordPress Hosting

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.

Latest

Stories

- Advertisement -
- Advertisement -

Latest

Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

- Advertisement -

Grow Your Business

Get these business solutions, tools and services to help your business grow.
Elementor

Elementor -Join 5,000,000+ Professionals Who Build Better Sites With Elementor. Build your website with 100% visual design that loads faster and speeds up the process of building them.

WP Rocket

WP Rocket - Speed up your website with the most powerful caching plugin in the world. The website speed increase means better SEO ranking, user experience, and conversation. It’s a fact that Google loves a fast site.

Kinsta

Kinsta - If you are looking for WordPress managed hosting, Kinsta is in the leading front. Kinsta provides WordPress hosting for a small or large business that helps take care of all your needs regarding your website with cutting-edge technology.

OptinMonster

OptinMonster - Instantly boost leads and grow revenue with the #1 most powerful conversion optimization toolkit in the world. 700,000+ websites are using OptinMonster to turn their traffic into leads, subscribers, and sales.

Related

- Advertisement -
- Advertisement -
India to Produce Upcoming iPhones: Trade Minister Japanese Professor Developed A Power Semiconductor made of Diamond Google Releases New Product for India’s Merchants Indian EV Startup Unveil Two AutoBalancing Electric Scooters OPPO Find X6 Pro Images Render via Weibo Sony Develops New Tech to Reduce Noise of Image Sensors Tesla’s S & Y Models Earn Best-in-Class Cars of 2022 India Approved $320m to Promote Homegrown Payments Network Twitter Roll Out TikTok-like ‘For You’ Timeline on iOS Nothing Phone Enters US with Beta Membership Program
Finally! Apple’s VR Headset Coming this Spring Harvard Scientists Develop New Cell Therapy to Kill, and Prevent Brain Cancer HTC Vive XR Elite VR/AR Headset Now Selling for $1099 Realme 10 Launched in India with Helio G99 Gaming Chipset Twitter Data Breach Revealing User’s Private Information Instagram New Feature to Create Albums With Friend Redmi Note12 Pro Plus Launched in India POCO C50 Launched in India