Internet of Things Technology - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Internet of Things Technology Market is accounted for $335.55 billion in 2019 and is expected to reach $1,769.39 billion by 2027 growing at a CAGR of 23.1% during the forecast period. Growth in the use of wireless smart sensors, increasing adoption of cloud platforms and growing penetration of the internet connectivity are propelling the market growth. However, concerns regarding the data security and data privacy are hampering the market growth.
The internet of things (IoT), incorporates a set of advanced equipment (sensors and meters), network connectivity architecture, smart devices and software, that helps to interchange the information between machines and devices. The internet of things technology helps in interfacing different smart devices together to ease the operation and sharing of data amongst themselves.
Based on the end user, the industrial segment is going to have a lucrative growth during the forecast period due to the need to implement predictive maintenance techniques in industrial equipment to monitor their working and to avoid unprepared downtimes in the production cycle. By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the huge investments by the companies for the development of IoT and the increasing penetration of the Internet across commercial as well as residential spaces, high customer base, and recuperating IT infrastructure.
Some of the key players profiled in the Internet of Things Technology Market include Texas Instruments, Symantec, Stmicroelectronics , Qualcomm, PTC, Pepper, Notion, Microsoft, Losant Iot, International Business Machines (IBM) , Intel, Hewlett Packard Enterprise (HPE), Helium Systems, General Electric (GE), Cisco Systems, Ayla Networks, Amazon Web Services (AWS), and Alphabet.
Network Infrastructures Covered:
• Ethernet Switch and Routing
• Network Management Platform
• Device Management Platform
• Application Enablement/Development Platform
• Professional Services
• Managed Services
Software Solutions Covered:
• Security Solution
• Remote Monitoring System
• Real-time Streaming Analytics
• Network Bandwidth Management
• Data Management
Node Components Covered:
• Connectivity IC
End Users Covered:
• Banking, Financial Services, and Insurance (BFSI)
• Wearable Devices
• Building Automation
• Aerospace and Defense
• Oil and Gas
• Consumer Electronics
• Automotive & Transportation
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
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- Company profiling with detailed strategies, financials, and recent developments
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