The research report
“Internet of Things Market
Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy,
Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE,
South Africa), Application Development Potential, Price Trend, Competitive
Market Share & Forecast, 2017 – 2024”, Global Internet
of Things Market size will witness a significant growth, owing to increasing
applications of cloud computing and big data in IT structure by organizations
in the forecast period.
Rising demand of the apps and solutions will
propel the growth for internet of things market in forecast time frame.
Industry focus on innovative technologies providing real time data to improve
performance and optimize operations are anticipated to increase substantially
which will add to internet of things market size. Increasing demand for sensor
based information and analytically rich data sets are most key factor
responsible for driving product growth in forecast period.
Rising demand for software solutions,
platforms, services and application domains will add to internet of things
market in forecast time frame. Predictive analytical tools to manage the data
generated from machines and evaluation of the results to improve the decision
making are the major driving factors for internet of things market growth.
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Increasing
adoption of IOT technologies including RFID, NFC, sensors, gateways and cloud
services in manufacturing, transportation, automotive, and logistics are
expected to see highest adoption levels in forecast period. Rapid development
of networking and digitization will lead to surge in internet of things market
size.
Asia Pacific
lead by China and Japan is anticipated to witness significant growth for
internet of things market in forecast period owing to increasing spending in
network infrastructure by organizations to enhance their productivity. Rising
manufacturing sector in the region will further support the IOT growth.
Manufacturing sector is one of the largest end user of IOT technologies.
Increasing demand to track and manage inventories will supplement the rising
internet of things market size. Fleet management in transportation sector will
propel the demand for IOT technologies. In emerging countries mainly India,
government initiative to develop strong IOT infrastructure will propel the
internet of things market size.
U.S. is
projected to provide various growth opportunities for the product owing to
surge in advanced robotics and cloud technology over forecast period. The
region will lead to surge in IOT technologies due to advancement in machine to
machine communication. At the same time, surge in demand for security and
surveillance applications in government inventory will propel the product
demand in forecast period. Strong presence of large number of service providers
in the region will boost the IOT market size.
Europe will
continue to witness substantial growth owing to several government initiatives
to promote IOT technologies in the region. European commission launched
Alliance for Internet of Things Innovation to support the creation of an
innovative industry and implementing new business models. Government intends to
work closely with all technology providers towards the establishment of a
competitive IOT structure. The recently proposed "European data
economy" initiative will also add to internet of things market size in
forecast period.
Some of the key companies are Alcatel-Lucent, Cisco,
AT&T, Qualcomm. Other prominent players are Amazon Web Services (AWS),
Apple, ARM Holdings, Digi International, Atmel, Atos, Bosch Software
Innovations, Broadcom, CTS, Dell, Echelon, Ericsson, Accenture, Freescale
Google, Semiconductor, GE, Hitachi, HP, IBM, Huawei Technologies and Infosys.
Established IOT players are competing to gain a major share and increase their
customer base. Organizations worldwide are investing heavily to develop
innovative IOT technologies to gain competitive advantage.
IOT industry is highly fragmented owing to presence of
many large and small players. Network and services providers are adopting
mergers and acquisition strategies to expand their global presence and increase
their customer reach. For instance, Qualcomm acquired NXP to increase its
semiconductor product portfolio in automotive industry. Internet of things
market is also anticipated to witness the entrance of new players over forecast
period, which will further increase the level of competition.
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