Author: Himanshu Patni
24 March 2023
The Hyperconnectivity Market is expected to grow at a strong CAGR of 25.2% during the forecast period owing to the rapid development of various technologies such as smartphones, tablets, wearables, and the Internet of Things (IoT) devices. Moreover, the increased convenience, efficiency, and productivity of hyperconnectivity is further contributing to the growth of the market. In addition, the increasing investments in industry 4.0 by key market players are also contributing to the growth of the market. For instance, In September 2021, Siemens announced a EUR 750 million (USD 790.9 million) investment in its research and development activities in the field of Industry 4.0. The investment will focus on developing new digital technologies and solutions for the manufacturing sector.
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Based on component, the market is divided into solutions and services. Amongst these, the solutions segment catered to a dominating share of the market in 2021. This is due to technological advancements, increasing reliance on digital devices, and globalization. With the advent of new technologies such as 5G networks, the Internet of Things (IoT), and cloud computing, it has become easier to connect devices, people, and services. This has made hyperconnectivity more accessible and affordable. Hence, the demand for hyperconnectivity solutions is increasing.
By product, the market is segmented into enterprise wearable device, middleware software, cloud platforms, network & communication, and business solutions. The cloud platforms segment captured more than a 30% share of the hyperconnectivity market in 2021. Many enterprises are transitioning from traditional on-premise IT infrastructure to cloud-based services. This has resulted in a significant increase in demand for cloud platforms that can provide the necessary computing power, storage, and others.
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For a better understanding of the market adoption of the Hyperconnectivity industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America led the market in 2021. In North America, the demand for hyperconnectivity has increased in recent years, driven by the rising adoption of digital technologies and the growing need for businesses to remain competitive in a rapidly changing market. North America has one of the world’s largest populations of internet users, with the rapid spread of smartphones and IoT devices. This is creating greater connectivity between people and devices, creating new opportunities for growth and innovation. In addition, with a strong ecosystem of digital technology providers, a highly skilled workforce, and favorable regulatory policies, the region is well-positioned to capitalize on this trend.
Some of the major players operating in the market are Oracle; Fujitsu; IBM; Iberdrola, S.A.; Microsoft; Orange Business; Cisco Systems, Inc.; General Electric; AT&T; and Verizon.
Global Hyperconnectivity Market Segmentation
Market Insight, by Component
· Solutions
· Services
Market Insights, by Product
· Enterprise Wearable Device
· Middleware Software
· Cloud Platforms
· Network & Communication
· Business Solutions
Market Insights, by Industry
· Banking & Financial Services
· Information & Communication Technology
· Healthcare
· Manufacturing
· Government
· Others
Market Insight, by Region
· North America
o U.S.
o Canada
o Rest of North America
· Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Rest of Europe
· Asia-Pacific
o China
o Japan
o India
o Rest of Asia-Pacific
· Rest of the World
Top Company Profiles
· Oracle
· Fujitsu
· IBM
· Iberdrola, S.A.
· Microsoft
· Orange Business
· Cisco Systems, Inc.
· General Electric
· AT&T
· Verizon
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