The worldwide Internet of Things (IoT) market is projected to hit a CAGR of 33.3% to 2021 driven by rising need for operational efficiency and increasing penetration of connected devices while the services segment is expected to gain maximum growth during forecast period.
The growth of Internet of Things (IoT) Market is driven by factors such as development of cheaper and smarter sensors, rising adoption of cloud computing, evolution of high speed networking technologies, and increasing penetration of connected devices. In terms of segments, the Services segment is estimated to grow at the highest CAGR during the forecast period due to the increasing penetration of connected devices and higher adoption of Internet of Things (IoT) solutions across industry verticals. Managed services segment is expected to grow at the highest rate between 2016 and 2021. Due to the increasing technological adoption, Asia-Pacific (APAC) is projected to witness the fastest growth rate among regions.
In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (20%), Tier 2 (42%) and Tier 3 (38%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level (55%), Director Level (26%) and others (19%) from various key organizations operating in the global Internet of Things (IoT) market. The primary interviews were conducted worldwide covering regions such as North America (47%), Europe (32%) and APAC (21%).
The key vendors profiled in the Internet of Things (IoT) market research report such as  IBM Corporation, Cisco Systems, Inc., SAP SE, PTC, Inc., General Electric, Oracle Corporation, Microsoft Corporation, Symantec Corporation, Amazon Web Services and Bosch Software Innovation. Order a copy of Internet of Things (IoT) Market by Software Solution (Real-Time Streaming Analytics, Security, Data Management, Remote Monitoring, & Network Bandwidth Management), Platform, Service, Application Domain, and Region – Global Forecast to 2021 research report at https://www.rnrmarketresearch.com/contacts/purchase?rname=527884 .
The latest trends in Internet of Things (IoT) include growing IoT integration across different industry verticals, diversification of IT giants toward providing analytics and security software, and cost benefits of predictive maintenance. The availability of cloud deployment options for Internet of Things (IoT) solutions has further provided a huge opportunity.
On a related note, another research on Internet of Things (IoT) in Smart Cities Market Global Forecast to 2020says, increasing demand for intelligent cities and IoT devices is expected to drive the Internet of Things (IoT) in smart cities market. Data management solutions sub segment holds the most promising potential for the next five years. The overall market size is estimated to grow from USD 51.96 billion in 2015 to USD 147.51 billion by 2020, at a CAGR of 23.2%. Companies like Bosch Software Innovation Gmbh, CISCO Systems, Inc., Huawei Technologies Co., Ltd, Intel Corporation, IBM Corporation, Harman International Industries (ADITI TECHNOLOGIES), Enevo Oy Technologies, Infineon Technologies AG, Symantec Corporation and Schneider Electric Software, Llc. have been profiled in this 135 pages research report.
Courtsey:Â PRNewswire
