Base Year: 2018
Estimated Year: 2019
Forecast Period: 2019 to 2026
Description:
According to the report, the global IoT market is valued at approximately USD xxxx million in 2019 and is expected to generate revenue of around USD xxxx million by 2026, growing at a CAGR of roughly xxxx% from 2019 and 2026.
The market growth is primely attributed to the adoption of cloud Platform as a Service (PaaS). Furthermore, the advent of advanced data analytics and data processing are some of the other crucial factors that propelling the market growth. Besides, technological explosion and cumulative investments are also helpful to promoting the market growth.
The internet of things, or IoT, is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers (UIDs) and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.
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Competitive Insights
Major manufacturers profiled in the analysis report include Google Inc., Hewlett Packard Enterprise, Amazon Web Services, Bosch Software Innovation GMBH, General Electric, Intel Corporation, SAP SE, Cisco Systems Inc., Microsoft Corporation, Oracle Corporation, International Business Machine (IBM) Corporation, PTC Inc., and others.
Regional Insights
North America is expected to occupy more market share during the forecast period. The countries in this region have established economies, which empowers them to strongly invest in R&D. The rapid digitalization across industry verticals, the increasing adoption of smart connected devices, and the technological advancements have further fueled the growth of the IoT market in this region. The Asia Pacific is projected to witness a tremendous growth in the predicted period. The market is driven by presence of huge players of consumer electronics in Asia-Pacific region such as Philips, Samsung, etc. which leads to introduce advanced and affordable consumer electronics in near future. Factors such as government initiatives towards adoption of advanced technology and positive GDP growth in developing nations are expected to bolster the demand for internet of things (IoT). Europe is also estimated to grow owing to the increasing adoption of advanced devices and implementation on healthcare IT.
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Type Insights
Important types of the product covered in this report include Software, Hardware, Services, Platform, and Others.
Application Insights
The application of the IoT market is segmented into IT & Telecom, Retail, Healthcare, Manufacturing, Automotive, Connected Logistics.
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Audience
• IoT manufacturers
• Raw material suppliers of IoT
• Distributors and resellers of IoT
• IoT industry associations
• Product managers, IoT industry administrator, C-level executives of the industries
• Market Research and consulting firms
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