Internet of Things Market
Internet of Things IOT is the core of digital transformation. It is an emerging concept of technical, economic and social significance. It describes the connection of devices such as desktops PC, smartphones, heart monitors, cars, kitchen appliances and wearable devices to the internet via wireless and wired internet connections using embedded software and sensors to communicate, collect and exchange data with one other. In the arena of IoT, the array of opportunities with regards to connectivity at home, work and at play are virtually endless. This embedded technology in the devices helps them to interact internally or externally, which results in an impact on the decision-making procedure. Additionally, it is changing the playing field for the organization in every industry vertical, thereby helping companies increase operational efficiency and grow their business.
Driving factors for IOT
Factors such as the development of wireless networking technologies, increasing adoption of cloud applications, the advent of advanced data analytics and data processing, reduction in the cost of connected devices, new product launches and acquisition of major players in IoT arena are primarily driving the IOT market. However, the lack of consistency among the standards for interconnectivity, interoperability, and security threats are some of the restraining factors hampering the growth of the market.
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Market segmentation
The IOT market is split across various segments based on a software solution, platform, service, application area and region. Considering software solutions, there are real-time streaming analytics, security solutions, data management, remote monitoring systems, and network bandwidth management. Additionally, the respective segment holds the prominent share in the market owing to the increase in the development of cloud-based applications and their growing adoption. Device management, application management and network management constitute as sub-segments falling under the platform segment.
The market is also segmented based on service, which is further classified into professional service, deployment and integration, support and maintenance, consulting service and managed service. Furthermore, based on the application area, the market is classified into the building and home automation, smart energy and utilities, smart manufacturing, connected logistics, smart retail, smart mobility and transportation, and others.
For better understanding of the geographical penetration of Internet of Things market, the market is analyzed based on its outreach in the countries such as North America U.S., Canada, Mexico and rest of North America , Europe Germany, France, U.K., Russia, Italy, Spain and rest of Europe , Asia-Pacific China, Japan, India, South Korea, Singapore, Taiwan and rest of Asia-Pacific and LAMEA Brazil, Argentina, UAE, Saudi Arabia, South Africa, Israel and rest of LAMEA . Currently, North America holds the largest market share in the Internet of Things market and is anticipated to hold the same in near future.
With the rapid digitalization across industry verticals and technological advancements coupled with new players foraying into the market, the IoT market in North America region has gained a significant share. Moreover, manufacturing and automation companies in the region are also incorporating IoT solutions, thereby boosting their efficiency. Taking into consideration, Asia Pacific APAC region constituting emerging economies, the high adoption rate of new technologies has made this region a lucrative market for the IT industries. Moreover, the countries in this region are taking aggressive initiatives to upsurge the IT infrastructure, enabling commercial users to adopt cutting-edge technologies.
Prominent companies in the IOT market
The report also highlights few prominent players operating in the Global IOT market. Key companies profiled in the report include Intel Corporation, SAP SE, Cisco Systems Inc., Microsoft Corporation, Oracle Corporation, International Business Corporation, PTC Inc, Google Inc, Hewlett Packard Enterprise and Amazon Web Services Inc.
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Market Segmentation
Market Insight, by Software Solution
Real Time Streaming Analytics
Security Solution
Data Management
Remote Monitoring System
Network Bandwidth Management
Others DNA and Signature Recognition
Market Insight, by Platform
Device Management
Application Management
Network Management
Market Insight, by Services
Professional Service
Deployment and Integration
Support and Maintenance
Consulting Service
Managed Service
Market Insight, by Application Area
Building and Home Automation
Smart Energy and Utilities
Smart Manufacturing
Connected Logistics
Smart Retail
Smart Mobility and Transportation
Others
Market Insight, by Region
North America Internet of Things Market Insight
United States
Canada
Mexico
Rest of North America
Europe Internet of Things Market Insight
Germany
France
United Kingdom
Spain
Russia
Italy
Rest of Europe
Asia-Pacific Internet of Things Market Insight
China
Japan
India
Singapore
South Korea
Australia
Rest of Asia-Pacific
Middle East Africa Internet of Things Market Insight
United Arab Emirate
Kingdom of Saudi Arabia
Algeria
Egypt
Kuwait
Qatar
Rest of MENA
Latin America Internet of Things Market Insight
Brazil
Argentina
Chile
Rest of Latin America
Companies Profiled
Intel Corporation
SAP SE
Cisco Systems Inc
Microsoft Corporation
Oracle Corporation
International Business Machine IBM Corporation
PTC Inc.
Google Inc.
Hewlett Packard Enterprise
Amazon Web Services Inc.
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