Latest News- IOT Market in UK: Industrial is expected to lead the End-user segment during 2025-2029

The IOT Market in UK is being driven by Industry 4.0 implementation

The IOT Market in UK is expected to grow at a CAGR of 12.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 25736.5 million. In the dynamic IoT market of the UK, a collaborative effort is underway among service providers, retailers, enterprise technology companies, innovative startups, and chipset manufacturers, to drive innovation through the AllJoyn open-source software project. This platform, developed by the Open Interconnect Consortium, comprised of Intel, Samsung, Broadcom, Atmel, and Dell, aims to establish interoperability standards across various industries, including smart homes and offices, automotive, industrial, and healthcare applications. By utilizing a common framework, members can test and develop interoperable products, enabling the exchange of valuable information and research, regardless of brand or category. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Industrial
  • Retail
  • Healthcare
  • ICT
  • Others
• Technology
  • RFID
  • Sensors
  • NFC
  • Cloud services
  • Others
• Component
  • Hardware
  • Software
  • Services
• Deployment
  • Cloud-based
  • On-premises
• Geography
  • UK

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Industry 4.0 implementation
• Growing demand for smart homes
• Large-scale benefits of using IoT devices

However, the market also witnesses some limitations, which are as follows:

• Lack of awareness about IoT devices
• Connectivity issues and lack of infrastructure
• Rise in privacy and security issues

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Market Scope in IOT Market in UK Research Report

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Research Analysis Overview

The IOT market in the UK is witnessing significant growth with the adoption of various technologies such as smart home automation, connected car technology, and Industrial IOT. Cities are becoming smarter with infrastructure developments, enabling remote asset tracking, data-driven insights, and predictive analytics. IOT solutions providers are offering industrial-grade security solutions to ensure the safety of these systems. Digital transformation is driving the implementation of IOT strategy in sectors like manufacturing, agriculture, healthcare, energy, and logistics. Connected manufacturing, precision agriculture, telehealth solutions, smart energy grids, and renewable energy integration are some of the key areas of focus. Building automation systems, connected logistics, and supply chain visibility are revolutionizing retail, finance, and education, respectively. IOT is enabling personalized learning experiences and smart classrooms in education. In finance, IOT is being used for fraud detection and risk management.

Market Research Overview

The IOT market in the UK encompasses the development and implementation of smart homes, connected devices, sensor networks, data analytics, and remote monitoring solutions. This sector falls under the broader global application software market, which caters to specialized business and consumer applications. Technavio's market analysis covers revenue generated by companies providing IT software solutions, including cloud-based services, within this domain. It is essential to note that this market segment excludes interactive home entertainment software providers and those specializing in systems or database management software.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/