The Asia Pacific Enterprise IoT Market would witness market growth of 16.4% CAGR during the forecast period (2022-2028).
It is predicted that government-supported initiatives and market expansion efforts by leading industry players will increase the adoption of enterprise IoT globally. For example, the government of India has committed over USD 900 million, specifically in innovative city projects. In more than 100 smart cities, the investment is concentrated on creating smart parking, intelligent transportation systems, waste management, bright lighting, and smart city maintenance, among other things.
Additionally, as Enterprise IoT solutions evolve, human-machine interaction becomes more effective, enhancing operational productivity, safety, and efficiency. As a result, customer demand for applications like remote management and predictive maintenance, among others, rises.
IoT sector advances throughout the years have concentrated on reducing energy usage and enhancing output performance. For instance, Texas Instruments created the first DC/DC buck-boost converter in the industry in September 2020, increasing battery life by 50%. Consequently, it is anticipated that the benefit of energy conservation in a wireless environment will open up lucrative business prospects.
Despite major upheavals, India's banking system has traditionally been among the most stable in the world. Through a number of measures designed to expand access to banking for the nation's unbanked citizens, the government has continually worked to promote financial inclusion. This is contributing to the rapid pace of technological advancements in the regional banking sector.
The China market dominated the Asia Pacific Enterprise IoT Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $58,892.6 million by 2028.The Japan market is estimated to grow a CAGR of 15.7% during (2022 - 2028). Additionally, The India market would experience a CAGR of 17.1% during (2022 - 2028).
Based on Enterprise Type, the market is segmented into Large Enterprise and Small & Medium Sized Enterprise. Based on Component, the market is segmented into Hardware, Software & Solutions and Services. Based on Software & Solutions Type, the market is segmented into Surveillance & Security, Network & Connectivity Management, Data Management, Application Management and Device Management. Based on End-use, the market is segmented into Manufacturing, Oil & Gas, Utilities, Transport, BFSI, IT & Telecom, Healthcare and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Enterprise IoT Market is Projected to reach USD 681.4 Billion by 2028, at a CAGR of 15.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amazon.com, Inc., Cisco Systems, Inc., IBM Corporation, Intel Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, Siemens AG, Robert Bosch GmbH, and PTC, Inc.
By Enterprise Type
By Component
By End-use
By Country
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 