Internet of Things (IoT) Infrastructure: Market for IoT Platforms, Hardware, and Software 2015 - 2020
Anticipated to eventually support a multi-trillion dollar marketplace, IoT Platforms, Hardware, and Software are at the cornerstone of success for IoT-enabled products and services. Internet enabled hardware, chips, edge devices and other hardware used in IoT solutions will constitute 30% market of total revenue generated by 2020. Revenue generated in 2015 was approximately $330 billion and is projected to reach $453 billion by 2020 with a CAGR of 6.2%. In 2015, software for IoT generated revenue of roughly $197 billion by way of platforms, APIs, applications, controlling systems, security solutions, management and operations. Substantial growth is anticipated through the year 2020.
IoT Platforms can be defined as a convergence of software and hardware solutions to interconnect “things” (people, things, objects, spaces, processes, data, etc.) in the real world and the virtual world on the Internet, and make the “things” communicate and interact with each other. IoT hardware includes microcontrollers, microprocessors, embedded systems, sensors, gateway devices and allied materials (such as amplifiers, step-down converters, batteries, fixtures, etc.). IoT is also expected to be a substantial driver for software development in infrastructure, platforms, devices, security, applications and services.
This research evaluates the technologies, solutions, and market outlook for IoT Platforms, Hardware, and Software. The report includes detailed forecasts for the period 2015 to 2020. This report also identifies opportunities for embedded hardware and software in IoT including Other Equipment Manufacturers (OEM) providers. Mind Commerce also evaluates the market opportunities and outlook for OEM channels and quantifies the markets and business for IoT hardware. All purchases of Mind Commerce reports includes time with an expert analyst who will help you link key findings in the report to the business issues you're addressing. This needs to be used within three months of purchasing the report.
OEM hardware developers
IoT service and app developers
Network operators and other CSPs
Big Data and data management companies
IoT hardware, platform, and infrastructure providers
ISV, SI, and VAR channels for software implementation
Mind Commerce Publishing's research methodology encompasses input from a wide variety of sources.
We rely heavily upon our Subject Matter Experts (SME) in terms of their market knowledge, unique perspective, and vision. We utilize SME industry contacts as well as previous customers and participants in our market surveys and interactive interviews.
In addition, we rely upon our extensive internal database, which contains modeling, qualitative analysis, and quantitative data. We review secondary sources and compare to our primary sources to update previous findings (for prior version reports) and/or compile baseline information for technology and market modeling.
We share preliminary models with industry contacts (select previous clients, experts, and thought leaders) to verify the veracity of initial modeling. Prior to final report production (analysis, findings, and conclusions), we engage in an internal review with internal SMEs as well as cross-expertise, senior staff members to challenge results.
We believe that forecasts should be prepared as part of an integrated process which involves both quantitative as well as qualitative factors. We follow the following 3-step process for forecasting.
Step 1 - Forecasts Input: The inputs for the present and historical revenues are derived from industry players. Financial and other quantitative data for individual sub-market categories are derived from original research and tested with interviews with major industry constituents.
Step 2 - Forecasting of Future Years: Mind Commerce extends forecasts based on a variety of factors including demand drivers as well as supply side data. Key success factors and assumptions are considered.
Step 3 - Validation of Data: The final step is to validate projections, which is accomplished in consultation with both internal and external industry experts, including both topic and regional experts. Adjustments are made to the forecasts based on factors identified throughout this process.