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Company profile

American Acquisition Opportunity Inc. is a blank check company. The Company is formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. It has not selected any specific business combination target and has not engaged in any substantive discussions, directly or indirectly, with any business combination target. The Company intends to focus its search for prospects within the land and resource holding company industry. The Company neither engages in any business operations nor generates any revenues.

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Internet of Things (IoT) Market to Exhibit 25.4% CAGR till 2028; Critical Need to Virtually Monitor Operations to Boost Growth: Fortune Business Insights(TM)

6:12 am ET August 23, 2021 (Globe Newswire) Print

The global Internet of Things market is expected to reach USD 1,854.76 billion by 2028, exhibiting a CAGR of 25.4% during the forecast period. The market is expected to gain impetus from the rising adoption of digital twins by a wide range of industries. They help in transforming the physical assets of the industries into a virtual representation. It aids in controlling, examining, and viewing the operations based on the digital platform. Fortune Business Insights(TM) provided this information in a recent study, titled, "Internet of Things (IoT) Market, 2021-2028." The study further states that the market size was USD 308.97 billion in 2020.

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Will the COVID-19 Pandemic Affect the Market Severely?

-- The spread of the coronavirus infection has a varied impact on the market growth.

-- As per the guidelines given by the governments, the percentage of workforce is set to be lowered after the opening of the industries.

-- Such measures are expected to increase the dependency of people on technologies.

-- Therefore, multiple organizations worldwide would consider investing hefty amounts of money in digital technology.

-- Integration of artificial intelligence and cloud in IoT solutions is expected to contribute to the growth of the market during the current scenario.

List of key players in Internet of Things market:

-- Inc. (US)

-- AT&T Inc. (US)

-- Bosch Software Innovations GmbH (Germany)

-- Cisco Systems, Inc. (US)

-- IBM Corporation (US)

-- Intel Corporation (US)

-- Oracle Corporation (US)

-- Microsoft Corporation (US)

-- SAP SE (Germany)

-- Siemens AG (Germany)

Report Scope & Segmentation

Report Coverage                   Details
Forecast Period                   2021 to 2028
Forecast Period 2021 to 2028 CAGR 25.4%
2028 Value Projection             USD 1854.76 Billion
Base Year                         2020
Market Size in 2020               USD 381.30 Billion
Historical Data for               2017 to 2019
No. of Pages                      130
Segments covered                  Component, End Use Industry and Geography
Growth Drivers                    Device Management Segment to Grow Steadily Fueled by Need to Manage Several Devices
                                  Usage of Smart Sensors Owing to Their Ability to Digitally Analyze Processes to Spur Growth
                                  Asia Pacific to remain at Forefront Backed by 'Make in India' Initiative
                                  Key Companies Aim to Launch New Solutions to Intensify Competition

To get to know more about the short-term and long-term impact of COVID19 on this market, please visit:

Highlights of This Report:

-- In-depth information about the market growth drivers, dynamics, and obstacles.

-- Elaborate data about the challenges and opportunities.

-- Extensive analysis of the latest trends in the market.

-- Profiles of all the companies operating in the market.

Market Segments:

Device Management Segment to Grow Steadily Fueled by Need to Manage Several Devices

In terms of platform, the market is divided into network management, cloud platform, and device management. Amongst these, the device management segment held the largest IoT market share in 2020. This growth is attributable to the rising need to manage multiple devices owing to the increasing number of connected devices present on the IoT platforms. It provides in-depth information about the working state of the devices and remotely manages the errors. This platform also reduces the testing and development time of solutions by automating the network and device administration. In an organization, such platforms aid in delivering real-time insights and centralized management of the integrated and connected devices.

Driving Factor:

Usage of Smart Sensors Owing to Their Ability to Digitally Analyze Processes to Spur Growth

A crucial factor driving the IoT market growth is the increasing adoption of smart sensors. They aid in measuring the external environments such as light intensity, position, flow, pressure, force, and temperature. Also, they measure physical inputs and convert them into raw data. The data is then stored digitally for analyzing the processes. The IoT solutions require persistent flow of data from the surroundings for functioning in a much better way. For instance, the data of the user's activities is provided by the smart sensors integrated with the connected devices.

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Regional Insights

Asia Pacific to remain at Forefront Backed by 'Make in India' Initiative

In 2020, Asia Pacific generated USD 120.85 billion revenue because of the rapid adoption of IoT in developing countries, such as India. The 'Make in India' policy, for instance, covers 25 sectors of the country's economy. It promotes the investment in manufacturing, as well as encourages the organizations to manufacture their products in the country. The Government of India is presently planning to build 100 smart cities in the coming years. Such steps would help the region in maintaining its dominant position in the market.

North America is set to remain in the second position throughout the forthcoming years on account of the presence of the maximum number of companies in the U.S. They are frequently investing in the development of new solutions to surge sales. The European countries, on the other hand, are focusing on enhancing their SMEs by deploying various digital solutions. The U.K. and Germany are anticipated to generate the maximum revenue. The governments of these countries are investing extensively in implementing the latest technologies for refining the advancements across a wide range of industries.

Competitive Landscape-

Key Companies Aim to Launch New Solutions to Intensify Competition

The market houses a large number of enterprises that are currently aiming to launch new products for intensifying competition. They are also investing in research and development activities to bring in their in-house products. Below are two of the key industry developments:

-- April 2020 - Haltian, a leading IoT solution provider based in Finland, received USD 9.8 million funding from Finnish venture capital (FVC), Ilmarinen, an employment pension company, and Nordic Option Haltian.

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About Us:

Fortune Business Insights(TM) delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. We aim to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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