Hyperconnectivity Market to be worth $1,742.1 Billion by 2030: Grand View Research, Inc.

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Dec 15, 2022, 06:00 ET

SAN FRANCISCO, Dec. 15, 2022 /PRNewswire/ -- The global hyperconnectivity market size is estimated to reach USD 1,742.1 billion by 2030, expanding at a CAGR of 20.3% from 2022 to 2030, according to a new study by Grand View Research, Inc. The increased use of smartphones, internet connectivity, and the Internet of Things (IoT) are some major factors driving the market.

Key Industry Insights & Findings from the report:

· In terms of the component, the software segment holds leading share owing to its provision of operational efficiency and enhanced customer experience.

· Based on end use, the IT & telecommunication sector accounts for a considerable share of the global market. The trend is attributed to the digitization trend in the It and telecom industries across the globe.

· The North American market held the largest share in the market in 2021. Its technological improvement and an increase in smart connected devices have facilitated the rapid growth in the region.

· Some of the leading players, including Fujitsu Limited, Microsoft Corporation, Oracle Corporation, IBM Corporation, PathPartner Technology, Broadcom Inc., are prepared to expand their product portfolios to enter the global market.

Read 100-page full market research report for more Insights, "Hyperconnectivity Market Size, Share & Trends Analysis Report By Component, By Product, By Organization Size, By End-use, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Hyperconnectivity Market Growth & Trends

The rise of connected gadgets creates diverse data contact points, giving marketers an improved understanding of customer behavior. Many companies use hyperconnected devices to boost employee engagement through ongoing communication, which drives market expansion. The development of 5G technologies is anticipated to fuel the market demand for hyperconnected devices.

With the advancement of virtual and remote working, new ways for communications are being developed, and the latest technologies are some of the key factors that are propelling hyperconnectivity market growth. Advances in the latest smartphones, browsers, voice assistants, and the Internet of Things (IoT) are some examples of rapidly advancements in the hyperconnectivity market. The phrase smart city has emerged in response to the growing interconnectedness of cities. For instance, some smart cities in Spain, such as Santander, Madrid, Malaga, Barcelona, and others, are already using hyperconnectivity to build smart parking and water conservation solutions.

The healthcare sector is witnessing promising growth for hyperconnectivity services, mainly attributed to expanding handheld devices connected to global positioning satellites (GPS). The trend for a patient-centric approach is the rising prominence in improving patient care, supporting mobile and virtual care, and Reducing travel requirements for patients and physicians. In a hyperconnected healthcare industry, nurses and doctors can monitor patients remotely and diagnose the health issues with medical applications connected with sensors attached with the body. The availability of remote care can reduce overall healthcare costs, where healthcare services are offered at home instead of in a dedicated healthcare facility. It also allows people to access the services from a distance from healthcare facilities without worrying about increase in their risk.

Its technological improvement and an increase in smart connected devices have facilitated the rapid growth of development in the hyperconnectivity business sector in the North American region. The developed economies in the region can invest significant amounts for R&D initiatives. The primary drivers of the market growth in the North America region are connected devices, the corresponding network infrastructure, and the increasing collaboration between network, software, and hardware vendors. For instance, In July 2021, Huawei and China Mobile Group formed a cooperation to create the world's largest Internet of Things (IoT) support platform. Both companies are expected to work together through this relationship and address IoT service needs through effective O&M and service innovation.

Well-established firms, startups, and other stakeholders are emphasizing on hyperconnectivity to automate processes and leverage organizations to emphasize business innovation. Prominent businesses could contribute money to organic and inorganic growth plans, such as product launches, mergers and acquisitions, technical improvements, and R&D initiatives. For instance, in February 2022, Fujitsu acquired Oobe, a cloud service provider company. Through this acquisition, Fujitsu will enhance its government positioning and competence in the defense and public sectors while utilizing Oobe's cloud, modern workplace, and security capabilities for digital transformation initiatives.

Hyperconnectivity Market Segmentation

Grand View Research has segmented the global hyperconnectivity market based on component, product, organization size, end-use, and region:

Hyperconnectivity Market - Component Outlook (Revenue, USD Million, 2017 - 2030)

· Solutions

· Services

Hyperconnectivity Market - Product Outlook (Revenue, USD Million, 2017 - 2030)

· Enterprise Wearable Devices

· Middleware Software

· Cloud Platforms

· Business Solutions

Hyperconnectivity Market - Organization Size Outlook (Revenue, USD Million, 2017 - 2030)

· Large Enterprises

· Small & Medium Enterprises

Hyperconnectivity Market - End-use Outlook (Revenue, USD Million, 2017 - 2030)

· BFSI

· Healthcare & Life Sciences

· IT & Telecommunications

· Government

· Manufacturing

· Retail & E-commerce

· Media & Entertainment

· Others

Hyperconnectivity Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

· North America

U.S.
Canada
Mexico

· Europe

U.K.
Germany
France

· Asia Pacific

China
Japan
India

· South America

Brazil

· Middle East and Africa (MEA)

List of Key Players in the Hyperconnectivity Market

· Avaya

· Broadcom Inc.

· Extreme Networks

· Fujitsu Limited

· Iberdrola SA

· IBM Corporation

· Microsoft Corporation

· Oracle Corporation

· Orange IT solutions

· PathPartner Technology

Check out more related studies published by Grand View Research:

· Data Center Transformation Market - The global data center transformation market size is anticipated to reach USD 24.13 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 13.5% from 2022 to 2030. The demand for data center transformation is likely to grow owing to increasing investment in data center technologies.

· Data Center Interconnect Market - The global data center interconnects market size is expected to reach USD 21.7 billion by 2030, growing at a CAGR of 12.6% from 2022 to 2030, according to a new report by Grand View Research, Inc. The emphasis by the data center providers on latency, throughput, streamlined operations, intelligence, security, and maintenance is expected to drive the growth of the industry during the forecast period.

· Enterprise IoT Market - The global enterprise IoT market size is expected to reach USD 1416.8 billion by 2030 and is projected to expand at a compound annual growth rate (CAGR) of 13.5% from 2022 to 2030, based on a new report by Grand View Research, Inc. The growing adoption of cloud-based platforms and rising demand for digitalization are fueling the growth of the market.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.