Global IoT market to surpass $1 trillion mark by 2024: Report
By IANS |
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Harvesting energy from radio waves to power wearable devices.(photo:pixabay.com). Image Source: IANS News
New Delhi, June 2 : The global internet of things (IoT) market by revenue will be worth $1.1 trillion by 2024, with much of the growth coming from wearables, a new report said on Wednesday.
The global IoT market was worth $622 billion in 2020, up from $586 billion in 2019, and will grow to reach $1,077 billion by 2024, with a compound annual growth rate (CAGR) of 13 per cent over the period, according to data and analytics company GlobalData.
The dominance of the enterprise IoT will continue for the foreseeable future. The enterprise IoT dominates the overall IoT market, generating 76 per cent of total revenue in 2020.
Since the Coronavirus pandemic struck, approximately 90% of pharma companies have initiated artificial intelligence projects focused on a range of major areas such as immuno-oncology and metabolic diseases.
Colonial Pipeline attack will concentrate government and operators’ minds on the ransomware threat, says GlobalData
Following the disclosure of a cyberattack on the Colonial Pipeline;
David Bicknell, principal analyst, Thematic Research at GlobalData, a leading data and analytics company, offers his view:
“The economic impact wrought by this cyberattack will bring home to government and energy operators the vulnerabilities in critical infrastructure. This is not the first ransomware cyberattack on an oil and gas utility – and it won’t be the last – but it is the most serious. It is also potentially one of the most successful cyberattacks against US critical national infrastructure
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Chinese companies will struggle to list on US stock markets, says GlobalData
The ongoing geopolitical stand-off between the US and China will discourage Chinese companies from listing on the US stock exchanges while those with existing listings in the US will look eastwards, says GlobalData, a leading data and analytics company.
GlobalData’s latest report, ‘Thematic Research – TMT IPO themes’, reveals that 25 Chinese tech, media, and telecom (TMT) companies completed IPOs on the US stock exchanges in 2020. However, geopolitical developments mean there are increasing concerns about the future of some large Chinese company listings in the US. These challenges will force Chinese TMT companies to stay away from US exchanges in 2021.