The North America Enterprise IoT Market would witness market growth of 14.0% CAGR during the forecast period (2022-2028).
Enterprise internet of things also lowers maintenance costs, improves energy efficiency, and boosts employee competency, which leads to higher output. Applications of internet of things (IoT) innovation include resource management, inventory management, device management, and resource management in sectors like BFSI, agriculture, manufacturing, and utilities.
Furthermore, the market is anticipated to expand due to the growing significance of enterprise IoT implementation for applications, including remote administration services, asset management, operational information creation, predictive maintenance, and remote monitoring. For example, in June 2020, Schneider Electric SE partnered with Marlink, a provider of ICT services and a satellite connection, to give customers access to the Internet of Things when running equipment and systems in distant and challenging areas (IoT).
The presence of developed nations like the U.S and Canada with well-established economies can motivate them to invest strongly in Research & Development activities. Radical growth digitalization across industry focus areas, rising adoption of smart connected devices, and technological advancements are few growth factors. By utilizing IoT capabilities, Canadian companies are bettering and optimizing their business processes. Further, the companies are manufacturing and selling IoT infrastructure for business optimization.
The US market dominated the North America Enterprise IoT Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $162,697.6 million by 2028.The Canada market is poised to grow at a CAGR of 16.6% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 15.6% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Enterprise IoT Market is Estimated to reach $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
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