The IoT (Internet of Things) market is poised to earn around
USD 1.8 trillion by 2022. It was about USD 605 billion in 2014. Technological
advances and investments by venture capitalists should drive the market over
the next seven years (2015 to 2022). Advances in telecommunication and
increased penetration of broadband services also boost the market.
New startups invest in IoT innovations and have an advantage
over big market players. For instance, cloud service provider, Electric Imp and
smart plug maker, Zuli are quite prominent and attract huge funding owing to
their multiple product applications. Issues of safety and privacy could hinder
the IoT (Internet of Things) market.
On the basis of components, the market is segmented into
devices, connectivity, platforms, and IT services. Devices consisting of
modules and sensors occupied 30% shares in 2014. Platforms like IoTivity by
Intel would link various devices on a network. Apple HomeKit and Google Brillo
will integrate applications seamlessly owing to their consumer-friendliness.
Consumer electronics, transportation, manufacturing, retail,
and healthcare are the applications of the IoT (Internet of Things) market.
Consumer electronics generated almost 30% of the overall revenues in 2014. They
are estimated to occupy the biggest shares in the future. Manufacturing and
retail should be the next largest income generators.
Full research report on IoT (Internet of Things) market analysis: http://www.grandviewresearch.com/industry-analysis/iot-market
Further key findings from the study suggest:
- Devices segment comprising modules and sensors dominated the global IoT industry accounting for over 30% of the market share in 2014. Proliferation of innovative IoT platforms such as Brillo by Google Inc. and HomeKit by Apple Inc. has led competitors to develop and offer substitutes to the industry, thereby fueling segment growth.
- Consumer electronics application segment is estimated to acquire a major segment of the revenue share in the IoT industry followed by retail and manufacturing. The development of the connected cars concept has pushed the transportation segment to acquire over 25% of the overall industry in 2014.
- Asia Pacific is expected to grow at a CAGR close to 16% over the forecast period. Countries such as China, Japan, and India are expected to drive industry growth during the next seven years. Increasing penetration of high-speed broadband internet and the presence of major technology and component manufacturers such as Samsung and Huawei have led to the regional industry growth.
- Technological and product innovations have driven the highly dynamic market. Key industry players include major technology and telecom giants such as Accenture PLC, Alcatel-Lucent, Apple Inc., Google Inc., General Electric, Freescale Semiconductors, IBM, Samsung Electronics, and SAP SE. Companies have aggressively fueled up investments in R&D and IoT divisions and innovation labs in order to gain on the first-mover advantage establishing their dominance in the market.
Request for sample of this research report: http://www.grandviewresearch.com/industry-analysis/iot-market/request
Grand View Research has segmented the global IoT market on
the basis of component, application and region:
IoT Component Outlook (Revenue, USD Billion, 2012 – 2022)
- Devices
- Connectivity
- IT Services
- Platforms
IoT Application Outlook (Revenue, USD Billion, 2012 –
2022)
- Consumer Electronics
- Retail
- Manufacturing
- Transportation
- Healthcare
- Others
IoT Regional Outlook (Revenue, USD Billion, 2012 – 2022)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
View more reports of this category by Grand View Research at: http://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
About Grand View Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
No comments:
Post a Comment