Internet of Things Technology Market is forecast to reach $639.74 billion by 2022 from $176.00 billionin 2016 at a CAGR of 25.1% during (2017-2022) driven by the growing penetration of Internet connectivity, the increasing adoption of cloud platforms, increased IP address space with the introduction of IPv6 and large investments by the industry giants in IoT to introduce new IoT-based products.
Companies profiled in the Internet of Things Technology Market report are Intel (US), QUALCOMM (US), Texas Instruments (US), International Business Machines (US), STMicroelectronics (Switzerland), General Electric (US), Hewlett Packard Enterprise (US), Cisco Systems (US), Microsoft (US), Amazon Web Services (US), Symantec (US), PTC (US), and Alphabet (US). The report also covers some of the new players in the Internet of Things (IoT) Technology market such as Ayla Networks (US), Losant IoT (US), Notion (US), Pepper (US), and Helium Systems (US).
The IoT technology market for the BFSI end-use application is expected to grow at the highest CAGR from 2017 to 2022. The growing mass adoption of online banking, contactless payment, and mobile banking apps has increased significantly, which would propel the growth of IoT technology in the BFSI sector.
IoT technology market in APAC expected to grow at the highest rate during the forecast period. The IoT technology market segmented on the basis of region into North America, Europe, Asia Pacific, and Rest of the World. The market in APAC is expected to grow at the highest rate from 2017 to 2022 owing to the growing penetration of the Internet across commercial as well as residential spaces, high consumer base, and improving IT infrastructure.
North America held the largest share of the IoT technology market in 2016 owing to the strategic initiatives taken by many large American technology firms, the early adoption of various IoT-enabled products across multiple end-user applications, and the increased research and development in the field of IoT.
This report includes the IoT technology market statistics pertaining to node component, network infrastructure, software solution, platform, service, end-use application, and geography along with their respective revenue. However, the lack of common communication protocols and communication standards across platforms, and high-power consumption by connected devices are hindering the growth of the IoT technology market.
The report describes the IoT technology market and related developments in terms of node component, network infrastructure, hardware, software solution, platform, service, and end-use applications across different regions. It aims at estimating the market size and future growth potential of this market across different segments such as node component, network infrastructure, software solution, platform, service, end-use application, and geography. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
Breakdown of profiles of primary participants:
- By Company Type: Tier 1 – 55%, Tier 2 – 25%, and Tier 3 – 20%
- By Designation: Directors – 50%, CEO – 20%, Vice Presidents – 25%, and Others – 5%
- By Region: North America – 35%, APAC – 35%, Europe – 20%, and RoW – 10%
Another research titled IoT Node and Gateway Market Global Forecast to 2023 says, the IoT node and gateway market is projected to reach 17.18 billion units by 2023, growing at a CAGR of 30.9% between 2017 and 2023. Logic device is expected to grow at the highest CAGR from 2017 to 2023. Retail end-use application is expected to hold the largest market share in terms of unit shipments during the forecast period. IoT node and gateway market in Asia Pacific is expected to grow at the highest rate. Companies such as Intel Corporation (US), Huawei Investment & Holding Co., Ltd. (China), NXP Semiconductor N.V. (Netherlands), Texas Instruments Inc. (US), Cisco Systems Inc. (US), Hewlett Packard Enterprise Co. (US), TE Connectivity Ltd. (Switzerland), STMicroelectronics N.V. (Switzerland), Advantech Co., Ltd. (Taiwan), Dell Inc. (US), Eurotech S.P.A (Italy), Aaeon Technology Inc. (Taiwan), Adlink Technology Inc. (Taiwan), NEXCOM International Co. Ltd. (Taiwan), Microchip Technology Inc. (US), Notion (US), Helium System Inc. (US), Samsara Networks Inc. (US), Estimote Inc. (US), Beep Inc. (US) have been profiled in this 262 pages research report.