Internet of everything (IoE) Market Capturing Competitive Landscape, Cost Benefits, Trends Strategic Insights By 2028

The internet of everything (IoE) is an extended concept of the Internet of Things (IoT), which focuses on machine-to-machine communications, in order to describe a more complex system. It also includes people and processes. As connected devices and platforms become more and more prevalent, the association between connected devices and people is going to greatly affect not only our lives, however also our work environments. More expansive IoE concepts beside M2M includes machine-to-people (M2P) and technology-assisted people-to-people (P2P) interactions. There are different physical devices connected devices, sensors, and intelligent systems.

Constant support from government authorities to adopt advanced technologies is expected to drive growth of the global internet of everything (IoE) market during the forecast period. Governments in developed and emerging economies such as Germany, India, Brazil, and Saudi Arabia have started introducing various IT projects and initiatives, in order to increase expenditure on advanced technologies to serve their citizens in better ways. Furthermore, advent of smart city projects, smart public transit projects, and 5-year smart grid projects by electric utilities have increased the adoption of IoE. For instance, in 2013, Singapore government-subsidized ICT goods with an estimated cost of US$ 500 Mn for business firms to adopt advanced technologies for the next three years.

The global internet of everything (IoE) market is estimated to be valued at US$ 6,222.5 billion in 2021 and is expected to exhibit a CAGR of 16.6% over the forecast period (2021-2028).

The growing use of linked devices may present attractive business prospects. The demand for connected devices such smartphones, mobile phones, tablets, laptops, and other similar gadgets is fast expanding. As a result of this, IoE adoption is rapidly expanding. Furthermore, during the projection period, the growing trend of carrying your own device (BOYD) in companies is likely to enhance demand for IoE technologies.