Internet of Things (IoT) Market - Overall Industry Analysis
Progressive Markets added a report, “Global Internet of Things Market - Size, Trend, Share, Opportunity Analysis & Forecast, 2014-2025”, which says that the market is likely to grow at a CAGR of 32.7% from 2017 to 2025.
The Internet of Things (IoT) is the future of technology that is expected to make our lives simpler and efficient in the coming decades. The technology refers to the network of real-world objects such as vehicles, home appliances, buildings, and other things connected via software, sensors, actuators, and internet connectivity, allowing them to generate and exchange data. The devices have their own IP addresses and communicate with each other to carry out simple tasks without direct human intervention.
IoT is a fast emerging-ecosystem that is growing across industries and governmental organizations. It finds application in smart homes, smart buildings, wearable devices, transportation, water distribution, traffic management, environmental monitoring, smart grid, health and personal care, retail, agriculture, construction, and much more.
IoT has gained enormous popularity due to its potential to deliver significant benefits to individuals, businesses, and society. Some of its benefits include saved cost and money, process efficiency, convenience, automation of daily tasks, and better quality of life.
Market Drivers and Restraints
Currently, the global Internet of Things market is witnessing a swift growth. The growth is mainly due to factors such as constantly evolving graphics games and the growing demand for Artificial Intelligence (AI), augmented reality (AR), and virtual reality (VR). However, the technology is in the commercialization stage and is still maturing due to a few pressing challenges such as security, privacy, interoperability & standards, and emerging economies & development. These factors are impeding the IoT market growth.
Internet of Things Market Key Segmentation:
The IoT industry report encompasses the market segmentation based on the component, application, the industry vertical, and geography. Based on the component, the market is classified as networks, sensors, hardware, software, protocols, and others. Based on application, the market is divided into environment monitoring, industrial application, infrastructure management, medical & healthcare system, energy management, building & home automation, and transport system. By industry vertical, the market is divided into electronics, IT & telecommunication, industrial, automotive, aerospace & defense, healthcare, and others. Based on end-user, the market is classified into pharmaceutical and biopharmaceutical companies, contract research organizations, hospitals, medical device manufacturers, consulting service companies, and academic research institutions. Based on geography, the report studies the Internet of Things industry across regions such as North America, Europe, Asia-Pacific, and LAMEA. The market in North America is analyzed in the U.S., Canada, and Mexico. In Europe, the market is analyzed in the UK, France, Germany, Italy, Spain, and the other parts of Europe. The market in the Asia-Pacific region is covered across China, Japan, India, Taiwan, South Korea, and the other parts of Asia-Pacific. Lastly, the market in the LAMEA region has been studied in Brazil, Saudi Arabia, South Africa, and the other parts of LAMEA.
- Environment Monitoring
- Infrastructure Management
- Industrial Application
- Energy Management
- Medical & Healthcare System
- Building & Home Automation
- Transport System
By Industry Vertical
- IT & Telecommunication
- Aerospace & Defense
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
The top players operating in the global Internet of Things (IoT) market include International Business Machines Corporation, Microsoft Corporation, Amazon.com, Inc., General Electric Company, Intel Corporation, Siemens AG, Cisco Systems, Inc., AT&T Inc., Google Inc., and Honeywell International Inc.
Key Benefits from the Report
The report provides a thorough analysis of the global Internet of Things market in terms of the Internet of Things market size, Internet of Things market share analysis, Internet of Things market forecast (2017-2025), market dynamics, current and future trends, market segmentation, Porter’s analysis, and market players. The Internet of Things market size helps understand the potential buyers and sellers in the industry. The market share analysis (2014-2025) helps determine how the Internet of Things market is performing. The Internet of Things market forecast and estimations have been done for all the segments and regions mentioned. The Porter’s Five Forces Analysis constitutes the bargaining power of buyers, bargaining power of suppliers, the threat of substitutes, industry rivalry, and the threat of new entrants. The Internet of Things industry analysis report focuses on the elements influencing the rise and fall of the market. Information about the latest and future market trends help businesses stay at the forefront. The segmentation in the Internet of Things industry report helps businesses bring profitability and opportunities for growth. Information about the leading market players such as their recent developments, financial and business segments, and more are included in the study.