“Internet of things technology market is expected to grow at a high CAGR during the forecast period”
The Internet of Things technology market size, in terms of value is expected to grow from USD 130.33 billion in 2015 to USD 883.55 billion by 2022, at a CAGR of 32.4% between 2016 and 2022.
The Internet of Things technology market is driven by factors such as increasing Internet connectivity worldwide, increasing demand for the smartphones & other connected devices, increasing adoption of wireless sensors, and mainstreaming of cloud computing. The increasing government funding across globe for research and development in IoT and scope for innovative cross-domain application provide significant growth opportunities in the market.
“Applications in automotive and transportation expected to drive the Internet of Things technology market in the near future”
The automotive and transportation application is expected to hold the largest share of the Internet of Things technology market by 2022, whereas the consumer electronics application is expected to witness highest growth between 2016 and 2022. IoT is changing the technological landscape across all industry verticals, and organizations are seeking ways to make improvements amidst the evolution. The Internet of Things technology market in consumer electronics segment is expected to grow significantly owing to the emergence of a number of smart appliances that can connect to the Internet and smartphones,.Automotive component suppliers across the globe as automobile manufacturers are investing in IoT to deliver the next generation of automobile vehicles and related services to their customers.
In the process of determining and verifying the market size for several segments and subsegments gathered through the secondary research, extensive primary interviews have been conducted with key people. The breakdown of the profile of primary participants is given below:
- By Company Type: Tier 1 – 50%, Tier 2 – 20%, and Tier 3 – 30%
- By Designation: C-level Executives– 40%, Directors – 35%, Others – 25%
- By Region:North America – 15%, Europe – 30%, APAC – 40%, RoW – 15%
The key players in internet of things technology market that are profiled in the report are as follows:
- Intel Corporation (U.S.),
- International Business Machines Corp. (U.S.)
- Cisco Systems (U.S.)
- NXP Semiconductors N.V. (Netherlands)
- General Electric Co. (U.S.)
- PTC, Inc. (U.S.)
- SAP SE (Germany)
- Oracle Corporation (U.S.)
- ARM Holdings Plc. (U.K.)
- Qualcomm Incorporated (U.S.)
- Texas Instruments Incorporated (U.S.)
- Atmel Corporation (U.S.)
- STMicroelectronics N.V. (Switzerland)
- Microsoft Corporation (U.S.)
- AT&T, Inc. (U.S.)
The report would help the market leaders or new entrants in this market in the following ways:
- This report segments the Internet of Things technology market comprehensively and provides the closest approximation of the market size for the overall market and the subsegments across industries and regions.
- The report would help stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for the growth of the market.
- This report would help stakeholders understand the competitors and gain insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.