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2019-06-18
380
Global
Global Internet of Things Market
Market Overview:
According to our global internet of things market outlook report “Disruptive technologies: Advances that will transform life, business, and the global economy“, the Internet of things (IoT) is one of the top three technological advancements of the next decade (together with the mobile internet and the automation of knowledge work). According to the Cisco, in 2008 number of things connected to Internet was greater than the population residing on earth, by 2020 number of things connected to internet will be about 50 billion.
Healthcare (16%) and manufacturing (16%) acquire the major section of IoT followed by insurance (12%), banking & securities (11%), retail and wholesome (8%), computing service (8%), government (7%), transportation (6%), utilities (5%), real estate (4%), agriculture (4%) and others (3%) contributes to IoT value add of USD1.9 trillion by 2020. Although estimated number of installed IoT devices in enterprise sector dominates the market, however that share may decline as the government and home sectors gain momentum.
Market Segmentation:
By Components
By Software
By Application
By End-User
Impact Analysis (%) of Connectivity Technologies on IoT Market
By Region
Market Size and Forecast:
By the year 2020 each person will own an average of 7 connected devices in the communications. In the automobiles 8.7 million cars had internet access which has now grown to 23.6 million in 2016. Industrial segment tends to see the annual growth rate of 30% due to increase in machine to machine connection.
According to Verizon report, global internet of things market in the year 2014 was USD 591.7 billion and growing at the pace of 17% forecasted to reach USD 1.3 trillion. The installed base of internet of things tends to grow from USD 9.7 billion in 2014 to 25.6 billion in the year 2019, hitting USD 30 billion in 2020. The total market size of digital precision agriculture services is expected to grow at the CAGR of 12.2% b/w 2014 and 2020, to reach USD 4.5 billion.
Settings |
Economic Impact in 2025 (USD) |
Human |
1.6 trillion |
Home |
350 billion |
Offices |
150 billion |
Factories |
3.7 trillion |
Worksites |
930 billion |
Vehicles |
740 billion |
Cities |
1.6 trillion |
Outside (Ship, planes, etc) |
850 billion |
Source: Goldstein Research
According to our research, IoT has the potential to support total service spending of more than USD 250 billion in the year 2016.
There are significant regional variations between more established markets, such as Europe, North America and Oceania, where M2M’s share of total connections exceeds the global average, and rapidly developing markets, such as Asia, which have experienced annual growth of 55% a year between 2010 and 2013. M2M connections as a share of total connections is an indicator of M2M market maturity. The top four markets worldwide by this measure in 2013 were Sweden (23%), Norway (15%), New Zealand (14%) and Finland (11%).
IBM would invest USD 3 billion over the next four years into internet of things division. According to the Cisco study, there is the possibility for USD 14 trillion profits for the next two decades.
Market Drivers:
Risks Factors:
The high cost of internet of things (IoT) devices and cost associated with the maintenance of IoT ecosystem are the two major risk factors for the internet of things (IoT) market.
Key Findings:
Opportunities:
Whereas, enterprise IoT being the largest of three and estimated to account for nearly 40% or 9.1 billion devices in 2016.
Key Players:
Scope Background
Market Synopsis
Market Segmentation
The Global Internet of Things (IoT) market is segmented as follows:
By Regions
Market Dynamics: Growth Drivers, Restraints and Opportunities
Key Market Players
Porter’s Five Force Model
Market Landscape: Competition and Beyond
Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem
Expert Analysis
Concluding Remarks
A complementary 2hrs free facility through which report buyers can interact with our pool of experienced analysts for any report related queries, clarifications or additional data requirements
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