According to the report, Expansion in the use of wireless sensors and low-power wide-area networks (LPWA) network is one of the primary growth factors for the market. Expansion of Internet connectivity is also expected to contribute significantly to the IoT Communication Protocol market. Overall, Wearable Devices applications of IoT Communication Protocol, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. New players are beginning to enter the market and established companies have been changing their business models – a trend that will continue in the future.

AMA’s Analyst on the Global IoT Communication Protocol Market identified that the demand is rising in many different parts of the world due to "Significant government funding across the globe for research and development of the Internet of Things ". Furthermore, some recent industry insights like "In May 2023,NOVUS has expanded its vision for modular technology and brought the simplicity of IoT to the N20K48 controller. With the new Wi-Fi micromodule, it is easy to integrate legacy devices. The integration is efficient and makes communication between devices an affordable and simple process." is constantly making the industry dynamic. One of the challenges that industry facing is "Security and privacy of the information in IoT"

The Network, such as IP network, is boosting the IoT Communication Protocol market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

The IoT Protocols, such as IoT Network Protocols, is boosting the IoT Communication Protocol market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

The report provides an in-depth analysis and forecast about the industry covering the following key features:
o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies
o Analyses the Global IoT Communication Protocol market according to Type, Application, and regions
o Analyzes the top 10 players in terms of market reach, business strategy, and business focus
o Provides stakeholders’ insights and key drivers & trends of the market

Market Size Estimation
In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the IoT Communication Protocol market and other related sub-markets covered in the study.

o Key & emerging players in the IoT Communication Protocol market have been observed through secondary research.
o The industry’s supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes.
o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation
The overall IoT Communication Protocol market size is calculated using market estimation process, the IoT Communication Protocol market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global IoT Communication Protocol market size has been validated using both top-down and bottom-up approaches.