PUNE, India, April 13, 2016 /PRNewswire/ --
According to a new market research report, "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", published by MarketsandMarkets, the IoT market is estimated to grow from USD 157.05 Billion in 2016 to USD 661.74 Billion by 2021, at a compound annual growth rate (CAGR) of 33.3%.
Browse 65 market data Tables and 47 Figures spread through 154 Pages and in-depth TOC on "Internet of Things (IoT) Market"
Early buyers will receive 10% customization on this report.
The major forces driving the IoT market are development of cheaper and smarter sensors, evolution of high speed networking technologies, and rising adoption of cloud platforms across industry verticals. Furthermore, increasing penetration of connected devices has unleashed the growth potential through predictive maintenance, security, and analytics which is expected to drive the market during the forecast period.
Software Solutions segment is expected to play a significant role in the IoT market
Software solutions would dominate the IoT market during the forecast period. This growth is driven by the increase in adoption of connected devices and smart technologies for various application areas. Data management solution is expected to dominate the IoT software solutions segment during the forecast period due to the generation of huge data through various devices from various locations. Security solution is expected to witness the highest growth rate during the forecast period as security of devices, applications, and network is one of the major challenges that organizations are facing these days.
North America is expected to dominate the IoT market during the forecast period
The IoT market segments the global market on the basis of regions, which include North America, Asia-Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America. North America is expected to hold the largest share of the IoT market in 2016 due to the technological advancements and early adoption of IoT in the region. The market in APAC is expected to grow at the highest CAGR between 2016 and 2021. The primary driving forces for this growth are increasing technological adoption and huge opportunities across industry verticals in APAC countries, especially India, China, and Japan.
The report also encompasses different strategies, such as mergers & acquisitions, partnerships & collaborations, and product developments, adopted by major players to increase their share in the market. Some of the major technology vendors include Cisco Systems, General Electric, IBM Corporation, PTC, Microsoft Corporation, SAP SE, Oracle Corporation, Symantec Corporation, and Bosch Software Innovations Gmbh.
Request a sample copy: http://www.marketsandmarkets.com/requestsample.asp?id=573
The scope of the report covers detailed information regarding the major factors influencing the growth of the Internet of Things Market, such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products and services, key strategies, new product launches, mergers and acquisitions, partnerships, agreements, collaborations, and recent developments associated with the IoT market. Additionally, the overall IoT market is segmented into platforms, software solutions, services, application domains, and regions.
Browse Related Reports
Internet of Things (IoT) Middleware Market by Type (IoT Application & Data Management), by IoT Platform (Application Enablement, Device & Connectivity Management), by Services, by End Users, by Industry Verticals and by Regions - Global Forecast to 2020
Internet of Things (IoT) Security Market by Technologies (Network, Cloud and Application Security, Identity Access Management, Analytics, UTM, IDS/IPS, Device Management, Encryption), Industry Verticals and Applications - Global Forecast to 2020
MarketsandMarkets is the world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Visit MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com/market-reports/telecom-it
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets