Europe IoT Market Forecast to 2030 - COVID-19 Impact and Regional Analysis - by Component [Hardware, Software (Device Management, Application Management, Data Management, and Network Management), and Services], Enterprise Size (Large Enterprises and SMEs), and Application (Building & Automation, Smart Energy & Utilities, Smart Manufacturing, Connected Logistics, Banking & Financial Services, Aerospace & Defense, and Others)
The Europe IoT market is expected to grow from US$ 216.29 billion in 2023 to US$ 1,319.75 billion by 2030; it is estimated to grow at a CAGR of 29.5% from 2023 to 2030.
Progressive Deployment of 5G Networks
In the past few years, 2G, 3G, and 4G communication technologies were mainly developed for mobile broadband and personal communication services and have proven extremely proficient in meeting the demands for IoT. However, the emergence of 5G has encouraged dedicated capabilities tailored for numerous IoT applications. There is an increase in investment in 5G infrastructure across developed and developing countries as 5G enables stable, faster, and secure connectivity, helping advance IoT applications for self-driving vehicles, smart grids for renewable energy, and AI-enabled robots on factory floors. According to Qualcomm, an American multinational corporation, the global 5G value chain is anticipated to reach US$ 3.5 trillion by 2035, which is greater than the mobile value chain as of 2021. Therefore, this growth of the 5G value chain is a major contributor to the expansion and deployment of the 5G network. Moreover, according to the report published by GSM Association, the number of IoT-connected devices is expected to reach 25.2 billion by 2025. The integration of 5G network technology with IoT devices is projected to enable seamless and reliable connection. Due to the growth of the critical communication services industry, there is a rapid rollout of the 5G network by various telecom providers, which is expected to create lucrative opportunities for IoT software players in the coming years.
Europe IoT Market Overview
Europe dominated the IoT market with the largest share in 2022. The demand for IoT solutions is increasing across Europe, especially in countries such as Germany, the UK, and France. A surge in inclination toward cloud-based IoT software, the need for improved supply chain and customer relationship management operations, and advancements in industrial-grade digital products are the major factors contributing to the growth of the IoT market across the region. The manufacturing, healthcare, and BFSI sectors are the key contributors to the IoT market in Europe.
Governments of European countries are taking various initiatives to bolster the adoption of IoT and edge computing. In March 2021, the European Commission conducted a Fireside Chat workshop to mobilize and connect expert stakeholders from the agriculture, automotive, aerospace, construction machinery, home, and industrial automation verticals, among others. The aim of this workshop was to design a strategy for the future progress of IoT and edge computing in Europe with a market window over five years. In addition, the European Union (EU) hosts various funding programs for next-generation IoT and edge computing. For example, through Horizon Europe, the EU will contribute more than US$ 169.86 million (EUR 150 million) in research and innovation (R&I) under its 2021 “World Leading Data and Computing Technologies: From Cloud to Edge to IoT for European Data.’’ The program will support the development and deployment of next-generation computing components, systems, and platforms. Thus, such initiatives by the EU would fuel the growth of the Europe IoT market in the coming years.
Europe IoT Market Revenue and Forecast to 2030 (US$ Billion)
Europe IoT Market Segmentation
The Europe IoT market is segmented based on component, enterprise size, application, and country. Based on component, the Europe IoT market is segmented into hardware, software, and services. The hardware segment held the largest market share in 2023. Furthermore, software is segmented into device management, application management, data management, and network management.
Based on enterprise size, the Europe IoT market is bifurcated into large enterprises and SMEs. The large enterprises segment held a larger market share in 2023.
Based on application, the Europe IoT market is segmented into building & automation, smart energy & utilities, smart manufacturing, connected logistics, banking & financial services, aerospace & defense, and others. The smart manufacturing segment held the largest market share in 2023.
Based on country, the Europe IoT market is segmented into Germany, France, Italy, the UK, Russia, Sweden, Belgium, Netherlands, Switzerland, and the Rest of Europe. Germany dominated the Europe IoT market share in 2023.
Amazon Web Services Inc.; Cisco Systems Inc.; Google LLC; Software AG; International Business Machines Corp; Intel Corp; Microsoft Corp; Oracle Corp; Siemens AG; and SAP SE are the leading companies operating in the Europe IoT market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Company Profile:
3.2.4 Sources:
3.2.5 Calculation Base and Assumptions
3.2.6 List of Companies Analysed
4. Europe IoT Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Europe
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Europe IoT Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increase in Number of Smart City Projects
5.1.2 Low Cost of Connected Devices and Increase in Investments in IoT
5.1.3 Rise in Implementation of IoT in Automotive Sector
5.2 Market Restraints
5.2.1 Data Security and Interoperability Issues
5.3 Market Opportunities
5.3.1 Progressive Deployment of 5G Networks
5.4 Future Trends
5.4.1 Massive Expansion of E-Commerce Industry
5.4.2 Increase in Digitalization Across Industries
5.5 Impact Analysis of Drivers and Restraints
6. IoT Market – Europe Market Analysis
6.1 Europe IoT Market Overview
6.2 Europe IoT Market Revenue and Volume Forecast and Analysis
7. Europe IoT Market – By Component
7.1 Overview
7.2 IoT Market, by Component (2022 and 2030)
7.3 Hardware
7.3.1 Overview
7.3.2 Hardware: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
7.4 Software
7.4.1 Overview
7.4.2 Software: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
7.4.3 Device Management
7.4.3.1 Overview
7.4.3.2 Device Management: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
7.4.4 Application Management
7.4.4.1 Overview
7.4.4.2 Application Management: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
7.4.5 Data Management
7.4.5.1 Overview
7.4.5.2 Data Management: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
7.4.6 Network Management
7.4.6.1 Overview
7.4.6.2 Network Management: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
7.5 Services
7.5.1 Overview
7.5.2 Service: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
8. Europe IoT Market Analysis – by Enterprise Size
8.1 Overview
8.2 IoT Market, by Enterprise Size (2022 and 2030)
8.3 Large Enterprises
8.3.1 Overview
8.3.2 Large Enterprises: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
8.4 SMEs
8.4.1 Overview
8.4.2 SMEs: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
9. Europe IoT Market Analysis – by Application
9.1 Overview
9.2 IoT Market, by Application (2022 and 2030)
9.3 Building & Automation
9.3.1 Overview
9.3.2 Building & Automation: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
9.4 Smart Energy & Utilities
9.4.1 Overview
9.4.2 Smart Energy & Utilities: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
9.5 Smart Manufacturing
9.5.1 Overview
9.5.2 Smart Manufacturing: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
9.6 Connected Logistics
9.6.1 Overview
9.6.2 Connected Logistics: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
9.7 Smart Mobility and Transportation
9.7.1 Overview
9.7.2 Smart Mobility and Transportation: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
9.8 Banking & Financial Services
9.8.1 Overview
9.8.2 Banking & Financial Services: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
9.9 Aerospace & Defense
9.9.1 Overview
9.9.2 Aerospace & Defense: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
9.10 Others
9.10.1 Overview
9.10.2 Others: IoT Market – Revenue and Forecast to 2030 (US$ Billion)
10. Europe IoT Market – by Country Analysis
10.1 Europe: IoT Market
10.1.1 Overview
10.1.2 Europe IoT Market, by Country
10.1.2.1 Germany IoT Market - Revenue and Forecast to 2030
10.1.2.1.1 Germany IoT Market, By Component
10.1.2.1.2 Germany IoT Market, By Software
10.1.2.1.3 Germany IoT Market, By Enterprise Size
10.1.2.1.4 Germany IoT Market, By Application
10.1.2.2 France IoT Market - Revenue and Forecast to 2030
10.1.2.2.1 France IoT Market, By Component
10.1.2.2.2 France IoT Market, By Software
10.1.2.2.3 France IoT Market, By Enterprise Size
10.1.2.2.4 France IoT Market, By Application
10.1.2.3 Italy IoT Market - Revenue and Forecast to 2030
10.1.2.3.1 Italy IoT Market, By Component
10.1.2.3.2 Italy IoT Market, By Software
10.1.2.3.3 Italy IoT Market, By Enterprise Size
10.1.2.3.4 Italy IoT Market, By Application
10.1.2.4 UK IoT Market - Revenue and Forecast to 2030
10.1.2.4.1 UK IoT Market, By Component
10.1.2.4.2 UK IoT Market, By Software
10.1.2.4.3 UK IoT Market, By Enterprise Size
10.1.2.4.4 UK IoT Market, By Application
10.1.2.5 Russia IoT Market - Revenue and Forecast to 2030
10.1.2.5.1 Russia IoT Market, By Component
10.1.2.5.2 Russia IoT Market, By Software
10.1.2.5.3 Russia IoT Market, By Enterprise Size
10.1.2.5.4 Russia IoT Market, By Application
10.1.2.6 Sweden IoT Market - Revenue and Forecast to 2030
10.1.2.6.1 Sweden IoT Market, By Component
10.1.2.6.2 Sweden IoT Market, By Software
10.1.2.6.3 Sweden IoT Market, By Enterprise Size
10.1.2.6.4 Sweden IoT Market, By Application
10.1.2.7 Belgium IoT Market - Revenue and Forecast to 2030
10.1.2.7.1 Belgium IoT Market, By Component
10.1.2.7.2 Belgium IoT Market, By Software
10.1.2.7.3 Belgium IoT Market, By Enterprise Size
10.1.2.7.4 Belgium IoT Market, By Application
10.1.2.8 Netherlands IoT Market - Revenue and Forecast to 2030
10.1.2.8.1 Netherlands IoT Market, By Component
10.1.2.8.2 Netherlands IoT Market, By Software
10.1.2.8.3 Netherlands IoT Market, By Enterprise Size
10.1.2.8.4 Netherlands IoT Market, By Application
10.1.2.9 Switzerland IoT Market - Revenue and Forecast to 2030
10.1.2.9.1 Switzerland IoT Market, By Component
10.1.2.9.2 Switzerland IoT Market, By Software
10.1.2.9.3 Switzerland IoT Market, By Enterprise Size
10.1.2.9.4 Switzerland IoT Market, By Application
10.1.2.10 Rest of Europe IoT Market - Revenue and Forecast to 2030
10.1.2.10.1 Rest of Europe IoT Market, By Component
10.1.2.10.2 Rest of Europe IoT Market, By Software
10.1.2.10.3 Rest of Europe IoT Market, By Enterprise Size
10.1.2.10.4 Rest of Europe IoT Market, By Application
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Product Development
11.4 Mergers & Acquisitions
12. Company Profiles
12.1 Amazon Web Services Inc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Cisco Systems Inc
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Google LLC
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Software AG
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 International Business Machines Corp
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Intel Corp
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Microsoft Corp
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Oracle Corp
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Siemens AG
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 SAP SE
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Europe IoT Market Revenue and Forecast to 2030 (US$ Billion)
Table 2. Germany IoT Market - Revenue and Forecast to 2030 – By Component (US$ Billion)
Table 3. Germany IoT Market - Revenue and Forecast to 2030 – By Software (US$ Billion)
Table 4. Germany IoT Market - Revenue and Forecast to 2030 – By Enterprise Size (US$ Billion)
Table 5. Germany IoT Market - Revenue and Forecast to 2030 – By Application (US$ Billion)
Table 6. France IoT Market - Revenue and Forecast to 2030 – By Component (US$ Billion)
Table 7. France IoT Market - Revenue and Forecast to 2030 – By Software (US$ Billion)
Table 8. France IoT Market - Revenue and Forecast to 2030 – By Enterprise Size (US$ Billion)
Table 9. France IoT Market - Revenue and Forecast to 2030 – By Application (US$ Billion)
Table 10. Italy IoT Market - Revenue and Forecast to 2030 – By Component (US$ Billion)
Table 11. Italy IoT Market - Revenue and Forecast to 2030 – By Software (US$ Billion)
Table 12. Italy IoT Market - Revenue and Forecast to 2030 – By Enterprise Size (US$ Billion)
Table 13. Italy IoT Market - Revenue and Forecast to 2030 – By Application (US$ Billion)
Table 14. UK IoT Market - Revenue and Forecast to 2030 – By Component (US$ Billion)
Table 15. UK IoT Market - Revenue and Forecast to 2030 – By Software (US$ Billion)
Table 16. UK IoT Market - Revenue and Forecast to 2030 – By Enterprise Size (US$ Billion)
Table 17. UK IoT Market - Revenue and Forecast to 2030 – By Application (US$ Billion)
Table 18. Russia IoT Market - Revenue and Forecast to 2030 – By Component (US$ Billion)
Table 19. Russia IoT Market - Revenue and Forecast to 2030 – By Software (US$ Billion)
Table 20. Russia IoT Market - Revenue and Forecast to 2030 – By Enterprise Size (US$ Billion)
Table 21. Russia IoT Market - Revenue and Forecast to 2030 – By Application (US$ Billion)
Table 22. Sweden IoT Market - Revenue and Forecast to 2030 – By Component (US$ Billion)
Table 23. Sweden IoT Market - Revenue and Forecast to 2030 – By Software (US$ Billion)
Table 24. Sweden IoT Market - Revenue and Forecast to 2030 – By Enterprise Size (US$ Billion)
Table 25. Sweden IoT Market - Revenue and Forecast to 2030 – By Application (US$ Billion)
Table 26. Belgium IoT Market - Revenue and Forecast to 2030 – By Component (US$ Billion)
Table 27. Belgium IoT Market - Revenue and Forecast to 2030 – By Software (US$ Billion)
Table 28. Belgium IoT Market - Revenue and Forecast to 2030 – By Enterprise Size (US$ Billion)
Table 29. Belgium IoT Market - Revenue and Forecast to 2030 – By Application (US$ Billion)
Table 30. Netherlands IoT Market - Revenue and Forecast to 2030 – By Component (US$ Billion)
Table 31. Netherlands IoT Market - Revenue and Forecast to 2030 – By Software (US$ Billion)
Table 32. Netherlands IoT Market - Revenue and Forecast to 2030 – By Enterprise Size (US$ Billion)
Table 33. Netherlands IoT Market - Revenue and Forecast to 2030 – By Application (US$ Billion)
Table 34. Switzerland IoT Market - Revenue and Forecast to 2030 – By Component (US$ Billion)
Table 35. Switzerland IoT Market - Revenue and Forecast to 2030 – By Software (US$ Billion)
Table 36. Switzerland IoT Market - Revenue and Forecast to 2030 – By Enterprise Size (US$ Billion)
Table 37. Switzerland IoT Market - Revenue and Forecast to 2030 – By Application (US$ Billion)
Table 38. Rest of Europe IoT Market - Revenue and Forecast to 2030 – By Component (US$ Billion)
Table 39. Rest of Europe IoT Market - Revenue and Forecast to 2030 – By Software (US$ Billion)
Table 40. Rest of Europe IoT Market - Revenue and Forecast to 2030 – By Enterprise Size (US$ Billion)
Table 41. Rest of Europe IoT Market - Revenue and Forecast to 2030 – By Application (US$ Billion)
Table 42. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe IoT Market Segmentation
Figure 2. Europe IoT Market Segmentation – By Country
Figure 3. Europe IoT Market Overview
Figure 4. Europe IoT Market, by Component
Figure 5. Europe IoT Market, by Software
Figure 6. Europe IoT Market, by Enterprise Size
Figure 7. Europe IoT Market, by Country
Figure 8. Europe – PEST Analysis
Figure 9. Europe IoT Market- Ecosystem Analysis
Figure 10. Europe Expert Opinion
Figure 11. Europe IoT Market: Impact Analysis of Drivers and Restraints
Figure 12. Europe IoT Market Revenue and Forecast (US$ Billion)
Figure 13. Europe IoT Market Revenue Share, by Component (2022 and 2030)
Figure 14. Hardware: Europe IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 15. Software: Europe IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 16. Device Management: Europe IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 17. Application Management: Europe IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 18. Data Management: Europe IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 19. Network Management: Europe IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 20. Service: Europe IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 21. Europe IoT Market Revenue Share, by Enterprise Size (2022 and 2030)
Figure 22. Large Enterprises: Europe IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 23. SMEs: Europe IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 24. Europe IoT Market Revenue Share, by Application (2022 and 2030)
Figure 25. Building & Automation: Europe IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 26. Smart Energy & Utilities: Europe IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 27. Smart Manufacturing: Europe IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 28. Connected Logistics: Europe IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 29. Smart Mobility and Transportation: Europe IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 30. Banking & Financial Services: Europe IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 31. Aerospace & Defense: Europe IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 32. Others: Europe IoT Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 33. Europe IoT Market, by Key Country – Revenue (2022) (US$ Million)
Figure 34. Europe IoT Market, by Country, 2022 & 2030 (%)
Figure 35. Germany IoT Market - Revenue and Forecast to 2030 (US$ Billion)
Figure 36. France IoT Market - Revenue and Forecast to 2030 (US$ Billion)
Figure 37. Italy IoT Market - Revenue and Forecast to 2030 (US$ Billion)
Figure 38. UK IoT Market - Revenue and Forecast to 2030 (US$ Billion)
Figure 39. Russia IoT Market - Revenue and Forecast to 2030 (US$ Billion)
Figure 40. Sweden IoT Market - Revenue and Forecast to 2030 (US$ Billion)
Figure 41. Belgium IoT Market - Revenue and Forecast to 2030 (US$ Billion)
Figure 42. Netherlands IoT Market - Revenue and Forecast to 2030 (US$ Billion)
Figure 43. Switzerland IoT Market - Revenue and Forecast to 2030 (US$ Billion)
Figure 44. Rest of Europe IoT Market - Revenue and Forecast to 2030 (US$ Billion)
- Amazon Web Services Inc.
- Cisco Systems Inc.
- Google LLC
- Intel Corp
- International Business Machines Corp
- Microsoft Corp
- Oracle Corp
- SAP SE
- Siemens AG
- Software AG
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe IoT market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Europe IoT market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the Europe IoT market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution