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

  • Published: Nov 2021
  • Pages: 120
  • SKU: IRTNTR71531
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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?

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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.

 

IoT Market Scope in UK

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 11.80%

Market growth 2022-2026

$ 21.81 billion

Market structure

Fragmented

YoY growth (%)

10.86

Regional analysis

UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

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.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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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

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2021
    • Market outlook: Forecast for 2021 - 2026

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Technology

    • Market segments
    • Comparison by Technology
    • RFID - Market size and forecast 2021-2026
    • Sensors - Market size and forecast 2021-2026
    • NFC - Market size and forecast 2021-2026
    • Cloud services - Market size and forecast 2021-2026
    • Others - Market size and forecast 2021-2026
    • Market opportunity by Technology

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Industrial - Market size and forecast 2021-2026
    • Retail - Market size and forecast 2021-2026
    • Healthcare - Market size and forecast 2021-2026
    • ICT - Market size and forecast 2021-2026
    • Others - Market size and forecast 2021-2026
    • Market opportunity by End-user

    Customer landscape

    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Vendor landscape
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • 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.

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
    Technavio

    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
    Technavio

    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
    Interested in this report?
    Get your FREE sample now!
    The iot market growth will increase by $21812.60 million during 2021-2026.
    The iot market is expected to grow at a CAGR of 11.80% during 2021-2026.
    Technavio has segmented the iot market by technology (RFID, Sensors, NFC, Cloud services, and Others) ,end user (Industrial, Retail, Healthcare, ICT, and Others) , and geographic (APAC).
    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. are a few of the key vendors in the iot market.
    APAC will register the highest growth rate of 100.00% among the other regions. Therefore, the iot market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the iot market growth are:
    • Industry 4.0
    The iot market vendors should focus on grabbing business opportunities from the rfid segment as it accounted for the largest market share in the base year.
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