MarketsandMarkets Presents

North America is leading the IoT technology market in 2020

North America held the largest share in the IoT technology market in 2020. Increasing penetration of the internet in technologically advancing economies and growing adoption of wireless sensors and networks across major end-use applications such as healthcare, retail, consumer electronics, industrial, and automotive and transportation have resulted in the growth of the global IoT technology market. North America held the largest volume share in 2020. An established IT ecosystem and early adoption of various IoT-enabled products across multiple end-use applications are the most prominent factors behind the growth of the market this region.