Internet of Things Technology Market by Node Component (Processor, Sensor, Connectivity IC, Memory Device, and Logic Device), Network Infrastructure, Software Solution, Platform, Service, End-use Application, and Geography - Global Forecast to 2022
“IoT technology market expected to grow at a CAGR of 25.1% during the forecast period”
The IoT technology market is expected to be valued at USD 639.74 billion by 2022, growing at a CAGR of 25.1% from 2017 to 2022. The growth of the IoT technology market can be attributed to the growing market of connected devices and increasing investments in the IoT industry. 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.
“IoT technology market for BFSI end-use application expected to grow at the highest rate from 2017 to 2022”
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. 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. 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.
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%
Companies profiled in this 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 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.
Reasons to Buy the Report:
• This report includes the market statistics pertaining to node component, network infrastructure, software solution, platform, service, end-use application, and geography along with their respective revenue.
• Major drivers, restraints, opportunities, and challenges for the IoT technology market have been detailed in this report.
• Illustrative segmentation, analysis, and forecast based on node component, network infrastructure, software solution, platform, service, end-use application, and geography have been provided to give an overall view of the IoT technology market.
• A detailed competitive landscape has been provided including key players, in-depth analysis, and revenue of key players.
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