[309 Pages Report] The IoT development kit market is anticipated to reach USD 30,725.5 million in 2032, up from USD 6,221.3 million in 2022, rising at a CAGR of 17.3% during the forecast period of 2022 to 2032. Previously, the demand for IoT development kits increased at a CAGR of 14.2% from 2017 to 2021.
The IoT development kit is a completely pre-programmed prototype kit that gives developers access to all of the hardware and software building blocks required for deploying, assessing, and creating the residential, medical, and industrial internet of things application. IoT development kits are utilized in a number of industries, including smart cities, industrial automation, mHealth solutions, and medical monitoring.
Sensors, actuators, clouds, and front-end modules may all be tested with an IoT development kit. The developer can operate the system remotely, get alerts before they occur based on specification-defined triggers, and keep track of its functioning. As a result, the market for IoT development kits is expected to rise, which will increase end-user demand for these kits.
| Report Attribute | Details |
|---|---|
| IoT Development Kit Market Historical Growth Rate (2017 to 2021) | 14.2% |
| IoT Development Kit Market Value (2022) | USD 6,221.3 million |
| IoT Development Kit Market Anticipated Forecast Value (2032) | USD 30,725.5 million |
| IoT Development Kit Market Projected Growth Rate (2022 to 2032) | 17.3% |
The IoT development kits market is expanding as a result of the growing need for IoT remote monitoring systems for predictive maintenance and reducing operational costs. In addition, it is anticipated that in the upcoming years, the demand for IoT development kits would be affected by the expanding usage of connected devices, the development of wireless technologies, the increasing use of IoT devices, and the modernization of infrastructure. Systems for control and automation that are IoT-enabled aid service delivery for enterprises, remote employees, and manufacturing.
The use of IoT development kits, on the other hand, is growing in telemedicine to support healthcare professionals in monitoring their patients, accessing the data, and providing therapy from a distance utilizing smart devices. The IoT sensors keep an eye on a number of building-related factors, environmental conditions, and system energy usage. As a result of the IoT sensors' numerous benefits, there is a growing market for IoT remote monitoring systems, which is boosting the expansion of the IoT development kit industry.
Many IoT development kits have cloud connectivity, either to a general-purpose cloud platform from Microsoft, Google, Amazon, or IBM or to an IoT-specific cloud platform like Medium One or Particle. When data is stored and processed locally, on a storage device nearby an IoT device, or at the network's edge, cloud infrastructure is becoming increasingly often used in IoT design. The data are delivered to the cloud after being sorted and processed on edge, which lowers network strain and enables quicker operation of an IoT device. Many of these cloud services provide free or inexpensive solutions to connect a few devices.
Currently, North America is the market leader, expected to hold almost 35.6% of the market in 2022. The consumer electronics sector of this region is booming, which is fueling the need for IoT development kits. Due to the presence of several prominent players, North America is anticipated to maintain its lead in the IoT development kit market over the forecast period.
The North American IoT development kit market has expanded as a result of rising internet usage in countries with developing technology as well as the expanding use of wireless sensors and networks in key end-use industries like healthcare, retail, consumer electronics, industrial, automotive, and transportation. The market is also expanding as a result of increased research and development (R&D) in the IoT space for new and enhanced technologies, as well as an increase in consumer demand for better lifestyle options.
With roughly 24.1% of the market, Europe is the second-largest market share holder. Since IoT devices are being used more widely there, the region is predicted to develop rapidly throughout the projection period.
Additionally, the market is likely to expand in the area as more IoT sensors are being adopted by sectors including automotive, food and beverage, transportation, and others for monitoring. Together with important stakeholders, the European Commission has been working hard to create the ideal European IoT ecosystem and has started a dedicated cluster of R&D initiatives to address security and privacy concerns and promote confidence in IoT solutions.
To manage the zettabytes of data generated by tiny, omnipresent IoT devices, cloud connection is becoming an increasingly essential component of the IoT. Using sensors, analogue and electrical devices, and connection modules, startups are producing IoT development kits that offer a whole solution for cloud connectivity.
Example:
IoT solutions for infrastructure, applications, and security provide new experiences and drive better operations using data gathered at the Intelligent Edge. Large corporations are focusing on developers that wish to create Internet of Things devices. In addition to the industry-standard hardware components needed to swiftly prototype a wireless IoT system from scratch, this kit also contains the software frameworks, network stacks, and cloud connectivity capabilities necessary to safely connect and authenticate devices to the cloud.
Example:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 17.3% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Component, Application, Region |
| Regions Covered | North America; Latin America; The Asia Pacific; Middle East and Africa; Europe |
| Key Countries Profiled | The USA, Canada, Brazil, Argentina, Germany, The United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASIAN, GCC, South Africa |
| Key Companies Profiled | Google; Amazon AWS; Microsoft Azure; ARM; Broadcom; Gemalto; Intel; Others. |
| Customization | Available Upon Request |
Table 1: Global Market Value (US$ million) Forecast by Region, 2017 to 2032
Table 2: Global Market Value (US$ million) Forecast by Component, 2017 to 2032
Table 3: Global Market Value (US$ million) Forecast by Application, 2017 to 2032
Table 4: North America Market Value (US$ million) Forecast by Country, 2017 to 2032
Table 5: North America Market Value (US$ million) Forecast by Component, 2017 to 2032
Table 6: North America Market Value (US$ million) Forecast by Application, 2017 to 2032
Table 7: Latin America Market Value (US$ million) Forecast by Country, 2017 to 2032
Table 8: Latin America Market Value (US$ million) Forecast by Component, 2017 to 2032
Table 9: Latin America Market Value (US$ million) Forecast by Application, 2017 to 2032
Table 10: Europe Market Value (US$ million) Forecast by Country, 2017 to 2032
Table 11: Europe Market Value (US$ million) Forecast by Component, 2017 to 2032
Table 12: Europe Market Value (US$ million) Forecast by Application, 2017 to 2032
Table 13: Asia Pacific Market Value (US$ million) Forecast by Country, 2017 to 2032
Table 14: Asia Pacific Market Value (US$ million) Forecast by Component, 2017 to 2032
Table 15: Asia Pacific Market Value (US$ million) Forecast by Application, 2017 to 2032
Table 16: MEA Market Value (US$ million) Forecast by Country, 2017 to 2032
Table 17: MEA Market Value (US$ million) Forecast by Component, 2017 to 2032
Table 18: MEA Market Value (US$ million) Forecast by Application, 2017 to 2032
Figure 1: Global Market Value (US$ million) by Component, 2022 to 2032
Figure 2: Global Market Value (US$ million) by Application, 2022 to 2032
Figure 3: Global Market Value (US$ million) by Region, 2022 to 2032
Figure 4: Global Market Value (US$ million) Analysis by Region, 2017 to 2032
Figure 5: Global Market Value Share (%) and BPS Analysis by Region, 2022 to 2032
Figure 6: Global Market Y-o-Y Growth (%) Projections by Region, 2022 to 2032
Figure 7: Global Market Value (US$ million) Analysis by Component, 2017 to 2032
Figure 8: Global Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 9: Global Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 10: Global Market Value (US$ million) Analysis by Application, 2017 to 2032
Figure 11: Global Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 12: Global Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 13: Global Market Attractiveness by Component, 2022 to 2032
Figure 14: Global Market Attractiveness by Application, 2022 to 2032
Figure 15: Global Market Attractiveness by Region, 2022 to 2032
Figure 16: North America Market Value (US$ million) by Component, 2022 to 2032
Figure 17: North America Market Value (US$ million) by Application, 2022 to 2032
Figure 18: North America Market Value (US$ million) by Country, 2022 to 2032
Figure 19: North America Market Value (US$ million) Analysis by Country, 2017 to 2032
Figure 20: North America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 21: North America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 22: North America Market Value (US$ million) Analysis by Component, 2017 to 2032
Figure 23: North America Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 24: North America Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 25: North America Market Value (US$ million) Analysis by Application, 2017 to 2032
Figure 26: North America Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 27: North America Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 28: North America Market Attractiveness by Component, 2022 to 2032
Figure 29: North America Market Attractiveness by Application, 2022 to 2032
Figure 30: North America Market Attractiveness by Country, 2022 to 2032
Figure 31: Latin America Market Value (US$ million) by Component, 2022 to 2032
Figure 32: Latin America Market Value (US$ million) by Application, 2022 to 2032
Figure 33: Latin America Market Value (US$ million) by Country, 2022 to 2032
Figure 34: Latin America Market Value (US$ million) Analysis by Country, 2017 to 2032
Figure 35: Latin America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 36: Latin America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 37: Latin America Market Value (US$ million) Analysis by Component, 2017 to 2032
Figure 38: Latin America Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 39: Latin America Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 40: Latin America Market Value (US$ million) Analysis by Application, 2017 to 2032
Figure 41: Latin America Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 42: Latin America Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 43: Latin America Market Attractiveness by Component, 2022 to 2032
Figure 44: Latin America Market Attractiveness by Application, 2022 to 2032
Figure 45: Latin America Market Attractiveness by Country, 2022 to 2032
Figure 46: Europe Market Value (US$ million) by Component, 2022 to 2032
Figure 47: Europe Market Value (US$ million) by Application, 2022 to 2032
Figure 48: Europe Market Value (US$ million) by Country, 2022 to 2032
Figure 49: Europe Market Value (US$ million) Analysis by Country, 2017 to 2032
Figure 50: Europe Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 51: Europe Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 52: Europe Market Value (US$ million) Analysis by Component, 2017 to 2032
Figure 53: Europe Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 54: Europe Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 55: Europe Market Value (US$ million) Analysis by Application, 2017 to 2032
Figure 56: Europe Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 57: Europe Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 58: Europe Market Attractiveness by Component, 2022 to 2032
Figure 59: Europe Market Attractiveness by Application, 2022 to 2032
Figure 60: Europe Market Attractiveness by Country, 2022 to 2032
Figure 61: Asia Pacific Market Value (US$ million) by Component, 2022 to 2032
Figure 62: Asia Pacific Market Value (US$ million) by Application, 2022 to 2032
Figure 63: Asia Pacific Market Value (US$ million) by Country, 2022 to 2032
Figure 64: Asia Pacific Market Value (US$ million) Analysis by Country, 2017 to 2032
Figure 65: Asia Pacific Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 66: Asia Pacific Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 67: Asia Pacific Market Value (US$ million) Analysis by Component, 2017 to 2032
Figure 68: Asia Pacific Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 69: Asia Pacific Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 70: Asia Pacific Market Value (US$ million) Analysis by Application, 2017 to 2032
Figure 71: Asia Pacific Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 72: Asia Pacific Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 73: Asia Pacific Market Attractiveness by Component, 2022 to 2032
Figure 74: Asia Pacific Market Attractiveness by Application, 2022 to 2032
Figure 75: Asia Pacific Market Attractiveness by Country, 2022 to 2032
Figure 76: MEA Market Value (US$ million) by Component, 2022 to 2032
Figure 77: MEA Market Value (US$ million) by Application, 2022 to 2032
Figure 78: MEA Market Value (US$ million) by Country, 2022 to 2032
Figure 79: MEA Market Value (US$ million) Analysis by Country, 2017 to 2032
Figure 80: MEA Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 81: MEA Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 82: MEA Market Value (US$ million) Analysis by Component, 2017 to 2032
Figure 83: MEA Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 84: MEA Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 85: MEA Market Value (US$ million) Analysis by Application, 2017 to 2032
Figure 86: MEA Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 87: MEA Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 88: MEA Market Attractiveness by Component, 2022 to 2032
Figure 89: MEA Market Attractiveness by Application, 2022 to 2032
Figure 90: MEA Market Attractiveness by Country, 2022 to 2032
The global IoT development kit market is expected to progress at a CAGR of 17.3% (2022 to 2032).
With almost 35.6% market share in 2022, North America is expected to hold the highest share in the global IoT development kit market.
Global IoT development kit market is predicted to account for USD 30,725.5 million by 2032.
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