Europe IoT Market Expected to Reach USD 12.30 Billion by 2031-AMR

Europe IoT Market

IoT provides businesses with a real-time look into how their systems really work, delivering performance of machines to supply chain and logistics operations

PORTLAND, PORTLAND, OR, UNITED STATE, November 2, 2022 / — Allied Market Research published a new report, titled, “Europe IoT Market Expected to Reach USD 12.30 Billion by 2031-AMR .” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

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Advancements in industrial-grade digital technology, increase in inclination toward cloud-based IoT software, and rise in need for improved supply chain & customer relation management majorly contribute toward growth of the IoT market across Europe. IoT helps people live and work smarter, as well as gain complete control over their lives in addition to offering smart devices to automate homes, which is becoming primary need of customers.

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The on-premise IoT segment led the market in 2021, and is expected to continue to remain dominant in the future. This is attributed to the fact that on-premise-based IoT solution allows organizations to have control over security & other connectivity issues and improves scalability, speed, reliability, and connectivity of organizations. However, the cloud-based software segment is expected to witness highest growth rate, owing to rise in adoption of cloud-based IoT software in small- & medium-sized enterprises.

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The IoT industry was also drastically affected by the pandemic. The major players operating in the Germany Internet of Things (IoT) Market are Intel Germany GmbH, IBM Germany, Amazon Web Services Germany, Robert Bosch GmbH, SAP SE and more. Major companies started developing advanced technologies and launching new services to stay competitive in the Europe IoT market.

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Key Findings Of The Study

• By deployment model, cloud-based segment accounted for the largest Europe IoT market share in 2021.

• Depending on enterprise size, large enterprise generated the highest revenue in 2021.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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