The Business Research Company’s IoT Global Market Report 2021: COVID-19 Growth And Change to 2030

Huawei Technologies launched its operating system HarmonyOS last week for smartphones and tablets. It will be rolling out the operating system on a selected range of smartphones, giving users the option to shift to HarmonyOS from the current Android platform. This helps Huawei, as the company was on the losing side when the US government’s sanctions banned Google from delivering any technical support to new Huawei models and restricted it from giving access to Google Mobile Services – the developer services package on which most Android apps are built on. These sanctions also impacted Huawei’s business in other countries such as Sweden, where the government banned it from supplying 5G equipment, citing security concerns. This in turn affected the prospects of Swedish companies in China, such as Ericsson’s 5G share in China.

It is interesting to note that Huawei is not presenting HarmonyOS as a direct replacement of other mobile operating systems but rather describes it as an Internet-of-Things platform that can be used for cross-device collaboration across devices including laptops, smartwatches, vehicles, and appliances. This is an interesting move as the IoT market is expected to see a significant growth of more than 15% during 2020-2021, as per the latest report by The Business Research Company.

As per data on the Global Market Model, the Internet-of-Things (IoT) market is expected to grow from $244.47 billion in 2020 to $286.9 billion in 2021 at a compound annual growth rate (CAGR) of 17.4%. The IoT market size is expected to reach $767.3 billion in 2025 at a CAGR of 28% and cross $1,600 billion by 2030.

Huawei intends to get its operating system to around 200 million smartphones and 100 million third-party smart devices by the end of 2021. The company is also looking to recover

from the effects of sanctions from the United States due to the ongoing US-China trade war, which has shaken its handset business across the globe. It was once the biggest smartphone maker in the world, but now sits at the sixth position. Therefore, the company has started to explore multiple opportunities, including maneuvering its focus on one of the promising markets today – the Internet of Things.

As per TBRC’s research on IoT market trends, edge or cloud computing is enhancing the deployment of workload on IoT devices. Edge or cloud computing is a solution that facilitates data processing and data storage in the cloud. For instance, Microsoft’s Azure IoT Edge is a managed service built on Azure IoT Hub that deploys the workloads like artificial intelligence, third-party services, or own business logic on the cloud and runs the workload on IoT Edge devices. Edge devices spend less time communicating with the cloud and react quickly to changes and operate reliably.
from the effects of sanctions from the United States due to the ongoing US-China trade war, which has shaken its handset business across the globe. It was once the biggest smartphone maker in the world, but now sits at the sixth position. Therefore, the company has started to explore multiple opportunities, including maneuvering its focus on one of the promising markets today – the Internet of Things.

The Internet of Things Global Market Report is one of a series of new reports from The Business Research Company that provides IoT market overviews, analyzes and forecasts IoT market size, share, IoT market players, IoT market segments and geographies, the market’s leading competitors’ revenues, profiles and market shares.

About The Author

Moïn has eight years of experience in research and analysis. He has worked with some prominent market intelligence firms in India including Progressive Digital Media, Ovum, and GlobalData. His job roles involved data and trend analysis, market modelling, and report writing across industries. He has a bachelor’s degree in Biotechnology and a postgraduate degree in management from IMI Belgium. At TBRC, he has worked for clients such as Mitsubishi, Kobe Steel, and Amazon. Some key projects he has been involved in include market analysis for an automotive parts company and a market strategy project for an international NGO.

About The Global Market Model

The Global Market Model is the world’s most comprehensive database of integrated market information available. The ten-year forecasts in the Global Market Model are updated in real time to reflect the latest market realities, which is a huge advantage over static, report-based platforms.

Here Is A List Of Related Reports To The IoT Market From The Business Research Company –

IoT Services Global Market Report 2021: COVID-19 Growth And Change To 2030

IoT Sensors Global Market Report 2021: COVID-19 Growth And Change To 2030

IoT Testing Global Market Report 2021: COVID-19 Growth And Change To 2030

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