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 and evolving Internet of Things (IoT) market in the UK, a collaborative effort is underway among service providers, retailers, enterprise technology companies, innovative startups, and chipset manufacturers. They have come together through an open-source software project called AllJoyn, which offers a common platform for testing and developing interoperable IoT products. The Open Interconnect Consortium, founded by Intel, Samsung, Broadcom, Atmel, and Dell, aims to establish a standard for interoperability, enabling seamless information exchange and research collaboration across various industries, including smart homes and offices, automotive, industrial, and healthcare applications. 

Get more information on IOT Market in UK by requesting a sample report

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

Benefits of Buying Global IOT Market in UK Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in IOT Market in UK Research Report

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The IOT market in the UK is witnessing significant growth, with a focus on 'device connectivity' and 'data transmission rates'. However, challenges such as 'power consumption metrics', 'security vulnerabilities', 'network latency issues', and 'scalability challenges' need to be addressed. Solutions include 'data integrity protocols', 'system reliability', 'data encryption methods', 'authentication protocols', and 'authorization mechanisms'. Other considerations include 'access control policies', 'privacy considerations', 'data governance frameworks', and 'application programming interfaces'. 'Software updates management', 'hardware upgrades planning', and 'system maintenance procedures' are crucial for long-term success. 'Network monitoring tools', 'performance optimization techniques', and 'deployment strategies' ensure efficient operation, while 'integration methodologies' and 'interoperability issues' require attention for seamless implementation. Cost optimization strategies, energy efficiency improvements, data analytics platforms, application development tools, customer relationship management, and business process optimization complete the IOT landscape in the UK.

Market Research Overview

The IOT market in the UK encompasses businesses specializing in sensor networks, data acquisition systems, wireless communication protocols, and edge computing platforms. These companies contribute to the broader global IT software industry, which includes application and system software developers and producers. Technavio estimates the IT software market size based on the consolidated revenue of these entities, encompassing both traditional and cloud-based software offerings. This sector caters to the growing demand for specialized software solutions in various industries, driving innovation and digital transformation.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/