Market Overview

This research has surveyed 433 IoT-related companies that were established after FY1995 and were identified as having entered the IoT-related market based on disclosed information.

We surveyed the target companies of the above 433 companies and categorized them into each of the industries (a total of 2,032 cases, including cases where one company targeted multiple industries) and calculated their incidence rate (*1).
The most targeted industry by the 433 companies was Manufacturing, with 221 cases (51.0% incidence rate), followed by Retail/Distribution with 40.6% incidence rate, Marketing with 36.0% incidence rate, IT/information systems (including mainframe) with 36.0% incidence rate. On the other hand, the industries with a relatively small number of targeted companies were Agriculture/Animal Husbandry with an incidence rate of 8.1%, Government/Municipalities with an incidence rate of 13.6%, Education/Training with an incidence rate of 16.9%, and Automotive with an incidence rate of 18.0%.  

*1) The incidence rate was calculated by dividing the number of companies in each of target industries with the number of survey targets (433 companies).

Noteworthy Topics

Conventionally, IoT has been used for understanding the status of equipment/facilities, collecting sensor data (visualization), collecting location information, etc. However, with the advancement of AI development, an approach of merging AI with IoT has emerged, which can be referred to as "AIoT". For example, the application of generative AI in the analysis of data collected by IoT streamlines the organization and analytics of data analysis results.
Thus, the convergence of IoT and AI is likely to play a major role in the future development of the IoT-related market. In this case, AI/analytics vendors will have a higher profile, as the importance of AI seems to be greater than that of IoT. In addition, among AI/analytics vendors, the role of university-based vendors is expected to become more important.

Research Outline