IoT Market in UK by Technology and End-user - Forecast and Analysis 2022-2026

The IoT market share in UK is expected to increase by USD 21.81 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 11.80%.

This IoT market in UK research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers IoT market segmentation in UK by technology (RFID, sensors, NFC, cloud services, and others) and end-user (industrial, retail, healthcare, ICT, and others). The IoT market report in the UK also offers information on several market vendors, including 8power Ltd., Adaptive Wireless Solutions Ltd., Altiux Innovations Pvt. Ltd., Amazon.com Inc., Apple Inc., Arm Ltd., AT and T Inc., Eseye, EVRYTHNG Ltd., and Oracle Corp. among others.

What will the IoT Market Size in UK be During the Forecast Period?

Download the Free Report Sample to Unlock the IoT Market Size in UK for the Forecast Period and Other Important Statistics

IoT Market in UK: Key Drivers and Trends

Industry 4.0 is notably driving the IoT market growth in the UK, although factors such as lack of awareness about IoT devices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the IoT industry in the UK. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key IoT Market Driver in UK

One of the key factors driving growth in the IoT market in the UK is Industry 4.0. The industrial environment is currently witnessing evolutionary changes due to the rising automation of industrial processes. The combination of physical and digital systems has improved HMI and enabled M2M communication. Industry 4.0 defines the entire lifecycle of products, where smart machines carry out the manufacturing processes on their own, while smart robots coordinate with human workers to assemble products, and driverless transport vehicles operate logistics on their own. The integration of cyber systems and physical systems in industrial manufacturing enables higher efficiency, greater safety, predictive maintenance of machinery, and increased profitability. Industries across the globe are implementing Industry 4.0 to optimize material flows and detect errors at the early stages of the lifecycle of a product. Factory and process automation requires the presence of control systems, networking technologies, and software. IoT falls under the category of control systems, and with the emerging trend of industrial automation, the demand for such devices will grow in the UK.

Key IoT Market Challenge in UK

The lack of awareness about IoT devices will be a major challenge for the IoT market vendors in the UK during the forecast period. Most consumers, whether individuals or enterprises are still not aware of the benefits and advantages of using the IoT network and devices. Leading electronic device vendors, such as Samsung, Apple, LG, and Motorola, are investing significantly in creating awareness about this technology through marketing and advertising. Although certain consumer groups are aware of the IoT technology, the low value offered by some of the IoT solutions makes consumers highly reluctant to purchase those products. There is a lack of standardization among different products such as smart locks, smart wearables, smart thermostats, and smart appliances, which complicates the buying decision of consumers. A significant gap in the market is created as vendors, as well as developers, are unsure about customer needs and preferences.

This IoT market in UK analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major IoT Market Vendors in UK?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• 8power Ltd.
• Adaptive Wireless Solutions Ltd.
• Altiux Innovations Pvt. Ltd.
• Amazon.com Inc.
• Apple Inc.
• Arm Ltd.
• AT and T Inc.
• Eseye
• EVRYTHNG Ltd.
• Oracle Corp.

This statistical study of the IoT market in UK encompasses successful business strategies deployed by the key vendors. The IoT market in UK is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The IoT market in UK forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

What are the Revenue-generating Technology Segments in the IoT Market in UK?

To gain further insights on the market contribution of various segments Request for a FREE sample

The IoT market share growth in UK by the RFID segment will be significant during the forecast period. Radiofrequency identification (RFID) technology is expected to grow, owing to the increase in its adoption in the e-commerce industry. The growth of the retail and healthcare industries is another factor that drives the adoption of RFID systems. RFID technology is integrated into smart cabinets in the healthcare sector to reduce manual entries and increase the adoption of automation. RFID-based asset tracking can be used in healthcare to track real-time data of ventilators, hospital beds, and other important equipment. Also, the retail industry is shifting to RFID-based IoT solutions. This shift is attributed to the low inventory accuracy of retail outlets.

This report provides an accurate prediction of the contribution of all the segments to the growth of the IoT market size in UK and actionable market insights on post COVID-19 impact on each segment.

Request for a FREE sample

What are the Key Data Covered in this IoT Market Report in UK?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive IoT market growth in UK during the next five years
• Precise estimation of the IoT market size in UK and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the IoT industry in UK
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of IoT market vendorsin UK

We can help! Our analysts can customize this report to meet your requirements. Get in touch