Internet Of Things Technology Market

Internet of Things Technology Market Insights

The global Internet of Things Technology market is expected to grow at an exponential CAGR over the forecast period. This growth is mainly attributed to increasing inclination towards small and cheap smart sensors coupled with growing adoption of cloud platforms. Along with this, rising investment by key manufacturers to develop IoT based products is also likely to stimulate market growth.

Moreover, rising penetration of internet connectivity in developing countries is expected to augment the market growth over the coming years. However, risks associated with a web of connected devices such as lack of privacy and security of data is projected to affect the profitability of the market over the coming years.

Internet of Things Technology Market: Node Component Insights

On the basis of node component, the industry is segmented into processor, sensor, connectivity IC, memory device and logic device. The market for connectivity IC is expected to occupy the highest share owing to the increasing demand for better connectivity. Moreover, growing adoption of low power connectivity technology such as Bluetooth, Wi-Fi and BLE among others is likely to boost the market over the forecast period.

Internet of Things Technology Market: Network Infrastructure Insights

The industry is segmented into server, storage, ethernet switch & routing and gateway on the basis of network infrastructure. The routing gateway is anticipated to occupy the highest market share due to its rising application in providing connectivity via Wi-Fi and Zigbee among other network technologies.

Internet of Things Technology Market: Software Solution Insights

By software solution, the industry is segmented into real-time streaming analytics, security solution, data management, remote monitoring, and network bandwidth management. The software solutions segment is anticipated to register a significant growth over the forecast period on account of rising adoption of cloud based application globally coupled with increasing requirement of data storage by companies. Along with this, the growing number of connected devices is projected to augment the market growth over the coming years.

Internet of Things Technology Market: Services/ Platform Insights

By services, the industry is segmented into professional and managed services. The managed services segment is projected to grow significantly on account of rising application by retailers to reduce risks associated with web of connected devices. Along with this, rising application of services such as Payment-as-a-Service (PaaS) for more efficient transactions is also anticipated to favor the sector.

On the basis of platform, the industry is segmented into device management, application management, and network management.

Internet of Things Technology Market: Application Insights

Internet of Things (IoT) technology finds its application in wearable devices, healthcare, automotive & transportation, automation, industrial, consumer electronics, retail, oil & gas and agriculture among others. The industrial segment is anticipated to dominate the market over the forecast period owing to rising adoption of predictive maintenance technique coupled with growing government initiative for developing IoT platforms and solution for industrial application. BFSI industry is likely to grow at the highest CAGR due to increased trend of online banking, contactless payment methods, and several mobile banking apps.

Internet of Things Technology Market: Regional Insights

North America occupied the largest share of this market since the past few years due to high application of IoT technology across several industry verticals coupled with growing adoption of IoT enabled products across the region.

Asia Pacific is anticipated to witness highest CAGR over the coming years. This can be associated with increasing investment by companies for advancing IoT technology. Moreover, growing consumer base and increasing application of internet across various end use industries is projected to favour the market growth.

Internet of Things Technology Market: Vendor Landscape

The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.

Internet of Things Technology Market: End-Use Landscape

The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase IoT technology over the coming years. Some leading consumers of this market are Apple, Samsung, and Sony among others.

Internet of Things Technology Market: Market Share & Competitor Analysis

The global market for this product is expected to be significantly large due to the presence of numerous manufacturers. The key players include STMicroelectronics, Intel, QUALCOMM, International Business Machines, General Electric, Hewlett Packard Enterprise, Cisco Systems, Losant IoT, Microsoft, PTC, Ayla Networks, Symantec, Helium Systems, and Amazon Web Services.

Please note: This is not an exhaustive list of companies profiled in the report.

Related Report: Global Internet of Things Services Market Size, Trends & Analysis - Forecasts to 2025