Published Date: 20-Jan-2023
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According to a new report, published by KBV research, 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 Services segment is showcasing a CAGR of 21.3% during (2022 - 2028). The significant global market expansion of lighting services can be attributed to their use for cost- and energy-saving purposes. Additionally, these services are offered by qualified professionals, which enables the user to experience flawless home automation following installation. As a result, this is the main factor driving the segment's growth.
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. Hyperconnectivity gives companies an edge over rivals by tying up every component in the value chain. The fact that the cloud serves as the basis for corporate cooperation and permits data to be transferred at any time, from any place, using any smart device, is one of the cloud's most enticing benefits. As a result, some of the most successful hyperconnected businesses no longer need physical assets to operate.
The Small & Medium Enterprises (SMEs) segment has shown the growth rate of 20.7% during (2022 - 2028). SMEs are evolving into more intelligent, productive, and efficient organizations as a result of moving their operations to digital platforms and utilizing hyperconnectivity technology.
The Government segment is anticipated to grow a CAGR of 19.5% during (2022 - 2028). Governments may communicate with their public more effectively thanks to hyperconnectivity by transferring information more swiftly and openly. It also makes it simpler for citizens to touch base with their elected officials and utilize government services, regardless of where they live or work. In this approach, hyperconnectivity has the ability to modify the way societies and their governments interact.
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. The Europe market is exhibiting a CAGR of 18.2% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 20.1% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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).
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