The Global Hyperconnectivity Market size is expected to reach $1045.1 billion by 2028, rising at a market growth of 19.0% CAGR during the forecast period.
The term "hyperconnectivity" describes the highest level of possible link between people and machines via technology, social media, and other platforms. In the last three Industrial Revolutions, the steam engine, computers, and electricity all fundamentally altered the global economy.
Hyperconnectivity is proving to be the key technological development of Industry 4.0, or the Fourth Industrial Revolution, as it is currently being called. In a single network, connectivity methodically connects different operations. The idea has expanded and changed during the 2000s.
However, three key innovations—the internet, mobile technology, and the Internet of Things—are responsible for its most recent advancements into the hyperconnectivity phase (IoT). Experts claim that the following growth of social networks has further accelerated this process.
In the future hyperconnected world, interactions will not simply be between people. It includes instant connections among all entities, including those made between people and machines, machines and machines, and platforms.
In a highly connected e-commerce ecosystem, retailers can easily interface with a range of partners and service providers for smooth company operations. One administration platform, for instance, can be used to manage all parts of selling through an online store, including product registration, marketing, payments, shipping, and order management, customer care.
The linked living room trend is being fueled by the current capabilities of smart TVs, which allow users to search, explore, communicate, update, share, and download content. Due to linked living's ability to transform homes into on-demand workspaces and much more, the COVID-19 outbreak in 2020 has led to an upsurge in demand for these solutions. In 2020, the world was more digitally connected than ever. The use of technology and data for business and personal relationships has grown significantly. A boom in the adoption of new technologies has been caused by creative technical solutions that satisfy basic human needs like nourishment, physical security, and interpersonal interactions. This has subsequently opened up new growth opportunities for the hyperconnectivity sector.
As part of their digitalization agenda, governments all around the world are urging citizens to utilize the internet more frequently. Due to rising urbanization and technological advancements, a sizeable section of the population will have internet access in the next years. Increasing percentages of consumers entering the workforce, decreased bandwidth, higher internet speeds, and technological advancements all contribute to the growth of the Internet user base. As a result, the Hyperconnectivity market is expanding faster than ever owing to the growing global internet connectivity.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The below illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
Both in developed and developing countries, there is a much greater need for connected living rooms. One of the main causes is the growing consumer preference for high-quality content viewing devices over conventional television sets. The popularity of multimedia streaming and networking has been fueled by consumers' propensity to incorporate cutting-edge interactive aspects into home entertainment systems with cutting-edge software. Therefore, the Hyperconnectivity market is expanding because of the rise in connectivity and stability in connected devices trends.
Applications for IoT technology range from collecting biometric data via cloud technologies and communication networks. To communicate and exchange data both internally and with other machines, these devices have individual IP addresses. However, as deployment becomes more advanced, data security and privacy for connected devices, smart devices, mobile devices, and platforms are also growing. All of these systems and networks may include private and sensitive data that others could access.
Based on component, the hyperconnectivity market is divided into Software and Services. In 2021, the software sector held the majority of the market. Software for hyperconnectivity enables commercial applications that increase operational effectiveness, boost customer satisfaction, and present new income prospects. IoT devices that are connected to the internet easily communicate data with other IoT devices, apps, and objects to give customers transparent data-driven decisions.
Based on product, the Hyperconnectivity Market is classified into Business Solutions, Middleware Software, Cloud Platforms, and Enterprise Wearable Devices. Middleware software displayed a significant revenue share in 2021. The market for hyperconnectivity may grow as a result of middleware software's ability to help major market participants better comprehend the industry and product strategy. The worldwide middleware software market offers helpful data on the key players, company profiles, impending opportunities, and probable outcomes.
Based on organization size, the hyperconnectivity market is divided into Large Enterprises and Small & Medium Enterprises. In 2021, the large enterprises category had the lion's share of the market, which can be ascribed to an increase in IoT technology adoption by businesses seeking to outperform their rivals strategically and competitively. Customers employ hyperconnection technology to uncover fresh information from huge, heterogeneous databases that contain both old and new data.
Based on end-use, the market is classified into BFSI, Healthcare & Life Sciences, IT & Telecommunications, Government, Manufacturing, Retail & E-commerce, Media & Entertainment, and Others. Healthcare & Life Sciences will command a sizeable revenue share of the market in 2021. Hyperconnectivity is already shown to have enormous potential in the field of healthcare. M2M2H communications systems, which are now a reality, can enhance patient care, facilitate mobile and virtual care, and lessen the need for travel for both patients and doctors.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 315.7 Billion |
| Market size forecast in 2028 | USD 1045.1 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 19% from 2022 to 2028 |
| Number of Pages | 291 |
| Number of Tables | 479 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Companies Strategic Developments, Company Profiling |
| Segments covered | Component, Product, Organization Size, End-use, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on geography, the Hyperconnectivity Market is classified into North America, Europe, Asia Pacific, and LAMEA. In 2021, North America had the largest share and kept the dominant position. With a bullish digital transition across numerous industries, North America is set to offer lucrative prospects. The primary drivers of the market growth in the North America market are the adoption of connected devices and the related network infrastructure, as well as the expanding collaboration between network, hardware, and software vendors. This region's newly developing smart cities are promoting market expansion.
Free Valuable Insights: Global Hyperconnectivity Market size to reach USD 1045.1 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, IBM Corporation, Microsoft Corporation, Broadcom, Inc., Fujitsu Limited, Avaya Inc. (Avaya Holdings Corp.), Extreme Networks, Inc., Orange S.A. (Orange Business Services), and PathPartner Technology Pvt. Ltd. (KPIT Technologies Limited)
By Component
By Product
By Organization Size
By End-use
By Geography
The global Hyperconnectivity Market size is expected to reach $1045.1 billion by 2028.
Extending Global Accessibility To The Internet are driving the market in coming years, however, Challenges In The IoT Ecosystem Related To Data Security, Privacy, And Integrity restraints the growth of the market.
Oracle Corporation, IBM Corporation, Microsoft Corporation, Broadcom, Inc., Fujitsu Limited, Avaya Inc. (Avaya Holdings Corp.), Extreme Networks, Inc., Orange S.A. (Orange Business Services), and PathPartner Technology Pvt. Ltd. (KPIT Technologies Limited)
The expected CAGR of the Hyperconnectivity Market is 19.0% from 2022 to 2028.
The Cloud Platforms segment acquired maximum revenue share in the Global Hyperconnectivity Market by Product in 2021 thereby, achieving a market value of $475.1 billion by 2028.
The North America market dominated the Global Hyperconnectivity Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $404.4 billion by 2028.
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