Market outlook of the global IoT devices market
The Internet-of-Things (IoT) is a network of physical devices that are interconnected through various network technologies. The global market for IoT devices is positively influenced by factors like the changing consumers' lifestyle and growing preference for technologically advanced products, which results in its profound CAGR of more than 43% by 2019.
Recent increase in the number of smart homes is a major driver that influences growth in this market during the forecast period. A smart home connects domestic appliances like heating modules, air conditioning units, television sets, lighting systems, PCs, entertainment systems, security devices, and camera systems using communication units such as smartphones and connected tablets. Since smart homes offer the user complete operational control over appliances, their augmented demand during the forecast period is expected to result in this market's impressive growth by 2019.
Competitive landscape and key vendors
Since this market is still in its nascent stage, high growth is expected during the forecast period. However, at present, this market is dominated by a few large enterprises like Carrier Corp., LG, and Honeywell International as they have extensive product portfolios.
Key vendors in this market are -
- Carrier Corp.
- Honeywell International Inc.
- Ingersoll-Rand plc
- Nest Labs
- AGC Group
- PPG Industries
Other prominent vendors in this market are Computime, Emerson, Energate, Radio Thermostat Company of America, Venstar, Garmin, Martian, Mota, Qualcomm, 3M, ASG, AutoGlass, Balcony Systems, BASF, Bayer, Cardinal Glass Industries, Carlex, ChromoGenics, Citala, Corning, Domoticware, Dow Chemical, Garware Suncontrol, Gentex, Gesimat, GKN Group, GlasNovations, Heliotrope Technologies, Hitachi Chemicals, ICE AV, Innovative Glass, InvisiShade, Kinestral Technologies, LTI Smart Glass, NeoView Kolon, Nippon Sheet Glass, Pleotint, Polytronix, Pulp Studio, Ravenbrick, Scienstry, Sekisui Chemical, Smartglass International, Solutia, SPD Control Systems, Switch Materials, US e-Chromic, VELUX, View, and Xinology.
Product-based segmentation of the IoT devices market
- Smart refrigerators
- Smart lighting system
- Smart ACS
- Smart watches
- Smart thermostats
- Smart glasses
The market research analyst has estimated the smart lighting system segment to account for more than 45% of the total market share by 2019. The growing focus on energy consumption and the introduction of strict government policies pertaining to energy consumption are the major growth impelling factors in this segment during the forecast period.
Geographical segmentation of the IoT devices market
In this market study report, analysts estimate factors like rapid advances in technology and changing consumer preferences over the usage of electronic devices to spur market growth in the Americas during the forecast period. The Americas currently dominate this market in terms of revenue shares and is expected to reach close to 49% by 2019.
Key questions answered in the report include
- What will the market size and the growth rate be in 2019?
- What are the key factors driving the global IoT devices market?
- What are the key market trends impacting the growth of the global IoT devices market?
- What are the challenges to market growth?
- Who are the key vendors in the global IoT devices market?
- What are the market opportunities and threats faced by the vendors in the global IoT devices market?
- Trending factors influencing the market shares of the EMEA, Americas, and APAC?
- What are the key outcomes of the five forces analysis of the global IoT devices market?