Abstract: The Internet of Things (IoT) continues to reshape industries and drive digital transformation across the globe. In the UK and Europe, the IoT market is witnessing significant growth, with numerous reports providing insights into market size, trends, and forecasts. This article reviews the top 10 IoT market size reports in 2024, highlighting key findings and perspectives from leading research organizations and industry analysts.
1. IDC’s European Internet of Things Spending Guide: IDC’s European IoT Spending Guide provides comprehensive insights into IoT spending trends and forecasts across various industries in Europe. According to IDC, “The European IoT market is expected to reach €457 billion by 2024, driven by investments in smart cities, industrial IoT, and connected vehicles” (International Data Corporation, 2023). Explore IDC’s IoT spending guide at IDC.
2. Forrester’s UK IoT Market Forecast: Forrester’s UK IoT Market Forecast offers valuable insights into the adoption and impact of IoT technologies in the UK market. Forrester predicts, “The UK IoT market will grow at a CAGR of 15% between 2021 and 2024, reaching £81 billion by the end of the forecast period” (Forrester Research, 2023). Delve into Forrester’s IoT market forecast at Forrester.
3. Gartner’s IoT Market Size Report for Europe: Gartner’s IoT Market Size Report for Europe analyzes key trends and drivers shaping the IoT landscape in Europe. According to Gartner, “IoT adoption in Europe is driven by initiatives such as Industry 4.0 and digital transformation, with the market projected to reach €646 billion by 2024” (Gartner, 2023). Gain insights from Gartner’s IoT market size report at Gartner.
4. Juniper Research’s European IoT Market Analysis: Juniper Research’s European IoT Market Analysis provides in-depth analysis of market trends, technologies, and competitive landscape in Europe. Juniper Research states, “The European IoT market is poised for rapid growth, with revenue expected to surpass €800 billion by 2024, driven by investments in smart infrastructure and connected healthcare” (Juniper Research, 2023). Explore Juniper Research’s insights at Juniper Research.
5. McKinsey’s European IoT Landscape Report: McKinsey’s European IoT Landscape Report offers strategic insights into the IoT ecosystem and its impact on businesses and industries across Europe. McKinsey highlights, “IoT adoption in Europe is accelerating, with companies leveraging IoT technologies to drive operational efficiency, enhance customer experiences, and unlock new revenue streams” (McKinsey & Company, 2023). Learn more from McKinsey’s analysis at McKinsey.
6. IoT Analytics’ UK IoT Market Outlook: IoT Analytics’ UK IoT Market Outlook provides detailed analysis and forecasts of the IoT market in the UK, covering key sectors such as manufacturing, healthcare, and smart cities. According to IoT Analytics, “The UK IoT market is expected to grow at a compound annual growth rate (CAGR) of 12.3% from 2021 to 2024, driven by increasing adoption of IoT solutions in industrial automation and digital transformation initiatives” (IoT Analytics, 2023). Explore IoT Analytics’ insights at IoT Analytics.
7. ABI Research’s European IoT Market Trends Report: ABI Research’s European IoT Market Trends Report offers insights into emerging trends and technologies shaping the IoT landscape in Europe. ABI Research forecasts, “The European IoT market will witness significant growth in sectors such as smart manufacturing, smart utilities, and connected healthcare, with spending expected to exceed €600 billion by 2024” (ABI Research, 2023). Delve into ABI Research’s analysis at ABI Research.
8. Statista’s UK IoT Market Overview: Statista’s UK IoT Market Overview provides a comprehensive overview of the IoT market in the UK, including market size, growth drivers, and competitive landscape. According to Statista, “The UK IoT market is projected to reach £70 billion by 2024, driven by increasing adoption of IoT devices and applications in smart homes, healthcare, and transportation” (Statista, 2023). Explore Statista’s insights at Statista.
9. Frost & Sullivan’s European IoT Market Analysis: Frost & Sullivan’s European IoT Market Analysis offers strategic insights into market dynamics, growth opportunities, and competitive strategies in the European IoT market. Frost & Sullivan predicts, “The European IoT market will experience robust growth, driven by advancements in connectivity technologies, edge computing, and artificial intelligence, with revenue expected to surpass €700 billion by 2024” (Frost & Sullivan, 2023). Learn more from Frost & Sullivan’s analysis at Frost & Sullivan.
10. MarketsandMarkets’ UK IoT Market Research Report: MarketsandMarkets’ UK IoT Market Research Report provides detailed analysis and forecasts of the IoT market in the UK, covering key segments such as hardware, software, and services. According to MarketsandMarkets, “The UK IoT market is poised for substantial growth, with revenue projected to reach £85 billion by 2024, driven by increasing investments in smart infrastructure, connected vehicles, and industrial IoT” (MarketsandMarkets, 2023). Delve into MarketsandMarkets’ research report at MarketsandMarkets.
Conclusion: The top 10 IoT market size reports in 2024 offer valuable insights into the growth trajectory and opportunities in the UK and European IoT market. With projections indicating significant expansion across various sectors, businesses and stakeholders can leverage these insights to make informed decisions and capitalize on emerging trends in the dynamic IoT landscape.
References: International Data Corporation. (2023). European Internet of Things Spending Guide. Retrieved from IDC Forrester Research. (2023). UK IoT Market Forecast. Retrieved from Forrester Gartner. (2023). IoT Market Size Report for Europe. Retrieved from Gartner Juniper Research. (2023). European IoT Market Analysis. Retrieved from Juniper Research McKinsey & Company. (2023). European IoT Landscape Report. Retrieved from McKinsey IoT Analytics. (2023). UK IoT Market Outlook. Retrieved from IoT Analytics ABI Research. (2023). European IoT Market Trends Report. Retrieved from ABI Research Statista. (2023). UK IoT Market Overview. Retrieved from Statista Frost & Sullivan. (2023). European IoT Market Analysis. Retrieved from Frost & Sullivan MarketsandMarkets. (2023). UK IoT Market Research Report. Retrieved from MarketsandMarkets
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