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The global Internet of Things (IoT) devices market size is expected to reach USD 1,374.93 billion by 2021. This report provides an analysis of the market by product (computing devices, smart media, wireless printers, smart meters, smart wearables, smart camera, smart home appliances, smart locks, connected bulbs, and smart thermostat) and by geography (the Americas, APAC, and EMEA). The report also provides an analysis of the market’s competitive landscape and offers information on several companies including Samsung Electronics, Google, LG Electronics, Sony, Seiko Epson, and Honeywell International.
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The global Internet of Things devices market report predicts the market to grow steadily during the forecast period and post a CAGR of almost 4% by 2021. The rise in industrial automation is one of the major Internet of Things devices market drivers. With the rise in adoption of automation in the manufacturing sector, industries will soon focus on employing smart machines that automatically carry out manufacturing processes, smart robots that coordinate with employees for assembling products, and smart driverless transport vehicles that can automatically carry out logistics processes.
One of the major Internet of Things devices market trends is the rise in the development of high-power processors for IoT devices. With the rising need to handle processing equivalent to that of laptops and smartphones, IoT devices will likely be equipped with powerful embedded processors that will enable them to carry out advanced computing processes.
The market is at the nascent phase of development and is highly fragmented. There is very less competition among the market players and the market does not have any clear market leaders. However, with the all vendors focusing on gaining majority revenue shares, the market’s competitive environment will intensify significantly over the forecast period.
According to the Internet of Things devices market research, some of the vendors in the various product segments are -
Computing devices - Samsung Electronics, Apple, Lenovo, ASUS, Acer, Huawei, Coolpad, and LG Electronics; smart STB – Apple, Google, Pace, and Technicolor; smart TV - LG Electronics, Panasonic, and Samsung Electronics; gaming consoles – Sony, Microsoft, and Nintendo; wireless printers – Canon, Brother Industries, and Seiko Epson; smart meters – Itron, Honeywell International, and Landis+Gyr; smartwatch – Apple, Fitbit, and Garmin; smart band - Samsung Electronics, Lenovo, and Xiaomi; smart glasses – ODG, Recon Instruments, and Seiko Epson; smart clothing – Heddoko, Hexoskin, and Cityzen Sciences; smart camera – Canon, Nikon, and Panasonic; smart appliances - Samsung Electronics, LG Electronics, and Whirlpool; smart locks – Kwikset, August Home, and Goji; connected bulbs – OSRAM, Philips, and Sengled; smart thermostat - Nest Labs, Honeywell International, and Ecobee.
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In 2016, the computing devices segment accounted for the major IoT devices market share and dominated the market. This is mainly due to the increased usage of the Internet that led to the rise in the adoption of tablets and smartphones.
In terms of geographical regions, APAC will be the major IoT devices market revenue throughout the forecast period. The increase in buying power of people in countries such as China and India that will result in the rise in demand for computing devices and smart wearables will be the major factor driving market growth in this region.
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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