IOT Market in the Nordic Region 2016-2020

Overview of the IOT Market in the Nordic region

Technavio’s market research analyst has predicted the IOT (Internet of Things) Market in the Nordic region to grow impressively at a CAGR of over 15% by 2020. The increasing adoption of IoT solutions by enterprises is considered to be one of the major growth drivers for this market. Since IoT uses several technologies like RFID (radio frequency identification), sensors, barcodes, and GPS (global positioning system), it can be used to monitor and manage physical assets in an organization. By connecting every device or physical asset to other assets, organizations can achieve a significant improvement in their business processes. The need for effective monitoring of business processes, improvement in business values, and the requirement for a significant increase in efficiency are all factors that will fuel market growth in the coming years.

This market study report identifies the growing demand for big data analytics as one of the primary trends that will contribute to the growth of this market during the forecast period. The substantial increase in government interest to digitize information has escalated the need for better infrastructure to manage and utilize this data effectively. However, the estimated increase in expenses has induced governments to outsource their data analytics activities. This in turn increases the need for IOT systems for achieving the efficient communicative transfer of real-time data between machines. Additionally, many industries like automotive, healthcare, energy and utilities, and mining have started using stored data on which analytics is applied to derive actionable insights.

Segmentation by industry vertical and analysis of the IOT market in the Nordic region

• Consumer electronics
• Smart buildings
• Cities
• Automotive
• Utilities

The IOT market in the Nordic region was dominated by the consumer electronics segment in 2015. Factors such as the increase in adoption of high-speed broadband networks in households and smart devices allow end users to monitor homes and control home appliances from remote locations. This will further increase the demand for this market segment during the forecast period. The revenue from consumer electronics was estimated to be about USD 2 billion in 2015, and this market analysis report predicts that this segment will continue to dominate the market until 2020.

Competitive landscape and key vendors

As a result of the high acceptance rate of advanced technological solutions, the IOT market in the Nordic region is growing rapidly. Though a few major vendors dominate this market, the high growth potential will invite new vendors to the market, which will, in turn, intensify the level of competition in the market in the next four years.

The leading vendors in the market are -

• Ericsson
• Tele2
• Telenor
• TeliaSonera
• Tieto

The other prominent vendors in the market are Accenture, Cisco, Gemalto, Huawei, IBM, Intel, Nordic Semiconductor, Novatel Wireless, Orange Business Services, PTC, Qualcomm, SAP, Sierra Wireless, Wipro, and Wireless Matrix.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the IOT Market in the Nordic region?
• What are the key market trends impacting the growth of the IOT Market in the Nordic region?
• What are the challenges to market growth?
• Who are the key vendors in the IOT Market in the Nordic region?
• What are the market opportunities and threats faced by the vendors in the IOT Market in the Nordic region?
• Trending factors influencing the market shares of the Nordic region.
• What are the key outcomes of the five forces analysis of the IOT Market in the Nordic region?

Technavio also offers customization on reports based on specific client requirement.

Related reports

• Global IOT Devices Market 2015-2019
• Global Internet of Things Security Market 2016-2020
• Internet of Things (IOT) Market in China 2015-2019

IoT (Internet of Things) is an emerging ecosystem of IP-connected devices with the potential to have a positive impact across multiple industries. Also, IoT helps in improving asset utilization, enhances process efficiency, and boosts productivity due to which several organizations are increasingly focussing on this technology. It can help organizations to utilize their business infrastructure and assets in innovative ways to offer new services to end-users and achieve additional revenue.

The report, IoT market in Nordic is part of Technavio’s ICT research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as automatic identification system, cloud computing, data center, enterprise application, IT security, ITO and BPO, and product lifecycle management. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.