Market Share of IoT Devices Industry
The IoT devices market is highly fragmented. Some prominent players include Apple Inc., Google Inc. (Alphabet), and Samsung Electronics Co. Limited. Players in the market are adopting strategies such as partnerships, joint ventures, and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
In November 2022, Samsung India unveiled its new Internet of Things (IoT)-enabled air purifiers. The new air purifier line contains two models, AX46 and AX32, with a one-button operation and guarantees to remove 99.97% of nano-sized particles, ultrafine dust, germs, and allergies. They also claim to easily remove potentially hazardous volatile organic compounds (VOCs), such as formaldehyde, ensuring that customers breathe clean air. Furthermore, Samsung announced SmartThings Home Life in August 2022, and the updated family hub links customers worldwide to an ecosystem of smarter living solutions that expand their home life experience.
In September 2022, Honeywell and Internet of Things Technologies Company (IoT-squared), a joint venture between Saudi Arabia's Public Investment Fund (PIF) and STC Group (STC), signed a Memorandum of Understanding (MoU) to advance the fields of logistics platforms, sustainable cities, and technologies which would drive the digitalization in Saudi Arabia. The strategic MoU supports the goals established in Saudi Vision 2030 for smart city development and expanding technology adoption in society.
IoT Devices Market Leaders
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Apple Inc.
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ABB Limited
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Cisco Systems Inc
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Google Inc. (Alphabet)
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Samsung Electronics Co. Limited
*Disclaimer: Major Players sorted in no particular order
