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This market research report presents a detailed segmentation of the global IoT market by technology (RFID, sensors, NFC, gateways, cloud services, and others), by end user (manufacturing, retail, healthcare, ICT, and others), and by geography (the Americas, APAC, and EMEA). The leading vendors in this market are Alcatel-Lucent, AT&T, Cisco, and Qualcomm.
Technavio’s market research analyst predicts that the global internet of things (IoT)market will grow at a high CAGR of nearly 36% by 2020. Increased usage of the Internet coupled with favorable government initiatives from many countries has boosted the growth prospects for the global IoT market. Several organizations are implementing IoT solutions to enhance their business efficiency through process optimization. Moreover, with the growing number of low-cost smart connected devices like portable navigation devices, media players, and imaging devices, the demand for IoT over the next four years will increase significantly.
An interesting trend gaining traction in this market is the growing demand for big data analytics. Several industries such as healthcare, energy and utilities, manufacturing, and transportation are using analytics to gain insights on their stored data. The integration of analytics and IoT allows seamless transfer of real-time data between machines and networks, which in turn results in the efficient management of the voluminous data. This growing requirement to analyze and monitor information will positively influence the IoT market during the forecast period.
The manufacturing sector is the largest end user of IoT, occupying around 22% of the overall market share. Manufacturers are opting for IoT technology to enhance their business productivity and for predictive maintenance and optimization of factory floor performance. Increased use of location-based sensors in the manufacturing sector to track and manage inventories will augment the growth prospects for the IoT market in the coming years.
APAC dominated the IoT market in 2015 and is expected to occupy more than 49% of the overall market share by 2020. The primary reason for this region’s growth is increased investments in infrastructure development by several APAC nations and the adoption of new technologies such as the use of nanoscale devices and sensors.
This market is highly fragmented due to the presence of numerous large and small players. Established players, network and internet services providers, and core M2M vendors are adopting M&A strategies to expand their global presence and increase their customer reach. The market is also expected to witness the entry of several new vendors during the forecast period, which in turn will further intensify the level of market competition.
Key vendors in the market are -
The other prominent vendors in the IoT market are Accenture, Amazon Web Services (AWS), Apple, ARM Holdings, Atmel, Atos, Bosch Software Innovations, Broadcom, CTS, Dell, Digi International, Echelon, Ericsson, Freescale Semiconductor, GE, Google, Hitachi, HP, Huawei Technologies, IBM, Infosys, Intel, Juniper Networks, Microsoft, National Instruments, NEC, Oracle, PTC, Rockwell Automation, Samsung Electronics, SAP, Schneider Electric, Siemens, Symantec, TCS, Tech Mahindra, Telefonica, Texas Instruments, Tieto, Verizon Communications, and Zebra Technologies.
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The Internet of Things (IoT) is a grid of interconnected physical devices, sensors, and machines that are integrated into everyday objects and are connected to the Internet for the effective communication of data. Its ability to bolster business productivity, cost reduction, operational efficiency, and to bring about work environment improvement will result in its increased adoption across the healthcare, manufacturing, retail, energy and utilities, and transportation sectors over the next few years.
The report, global IoT market, 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.
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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