NEW YORK, June 19, 2017 /PRNewswire/ -- Highlights
· The Internet of Things (IoT) market is expected to grow from USD 170.57 billion in 2017 to USD 561.04 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 26.9%.
· The report considers 2017 as the estimated year for the study and the market size forecast is done from 2017 to 2022.
· The bottom-up procedure was employed to arrive at the total market size of the IoT market from the revenue of the key IoT service providers in the market.
· After arriving at the overall market size, the total market was split into several segments and sub segments, which were then verified through a primary research, by conducting extensive interviews with key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives.
· To know about the assumptions considered for this research report, download the pdf brochure
The Internet of Things (IoT) market is expected to grow from USD 170.57 billion in 2017 to
USD 561.04 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 26.9%. The report considers 2017 as the estimated year for the study and the market size forecast is done from 2017 to 2022.
Objectives of the study
- To define, describe, and forecast the IoT market on the basis of platforms, software solutions, services, application areas, and regions with respect to the individual growth trends and contribution toward the overall market
- To provide a detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, industry-specific challenges, and restraints)
- To analyze micro markets with respect to individual growth trends, future prospects, and contributions to the overall market
- To analyze the opportunities in the market and the details of the competitive landscape for stakeholders and market leaders
- To forecast the market size of segments with respect to 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and
- To profile the key players and analyze their market shares and core competencies
- To analyze competitive developments, such as, mergers and acquisitions, new partnerships, new contracts, and new product developments in the IoT market
The research methodology used to estimate and forecast the IoT market began with the collection and analysis of data on key vendor revenues through the secondary research, such as annual reports and press releases, investor presentations of companies, conferences and associations, such as IoT Association, Institute of Electrical and Electronics Engineers (IEEE) Standards Association, IoT Alliance Australia, white papers, technology journals, certified publications, and articles from recognized authors, directories, and databases. The vendor offerings were taken into consideration to determine the market segmentation.
The bottom-up procedure was employed to arrive at the total market size of the IoT market from the revenue of the key IoT service providers in the market.
After arriving at the overall market size, the total market was split into several segments and sub segments, which were then verified through a primary research, by conducting extensive interviews with key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all the segments and sub segments. The breakdown of profiles of primary is depicted in the below figure:
BREAKDOWN OF PRIMARY PARTICIPANTS
"To know about the assumptions considered for this research report, download the pdf brochure"
The IoT market comprises vendors providing IoT services to their commercial clients. Companies such as Intel Corporation (US), SAP SE (Germany), Cisco Systems, Inc. (US), Microsoft Corporation (US), Oracle Corporation (US), International Business Machine (IBM) Corporation (US), PTC Inc. (US), Google Inc. (US), Hewlett Packard Enterprise (US), Amazon Web Services Inc. (US), Bosch Software Innovation GmbH (Germany), and General Electric (US) have adopted partnerships and collaborations as their key strategy to expand their market reach. This strategy accounted for the largest share of the total strategies adopted by the market players.
• Machine-to-Machine (M2M), and Telecom and IoT providers
• IoT platform/middleware providers
• Device and sensor providers
• Application developers and aggregators
• Third-party integration providers
• Application Program Interface (API) integrators
• Consultancy firms and advisory firms
• Regulatory agencies
"Study answers several questions for the stakeholders, primarily which market segments to focus in next 2 to 5 years for prioritizing the efforts and investments."
Scope of the Report
The research report segments the IoT market into the following submarkets:
By Software Solution
• Real- time Streaming Analytics
• Security solution
• Data management
• Remote monitoring system
• Network bandwidth management
• Device management
• Application management
• Network management
• Professional service
- Deployment and integration
- Support and maintenance
- Consulting service
• Managed service
By Application Area
• Building and home automation
• Smart energy and utilities
• Smart manufacturing
• Connected logistics
• Smart retail
• Smart mobility and transportation
• North America
• Asia Pacific (APAC)
• Middle East and Africa (MEA)
• Latin America
With the given market data, MarketsandMarkets offers customizations as per the company's specific needs. The following customization options are available for the report:
• Further breakdown of the European IoT market
• Further breakdown of the APAC IoT market
• Detailed analysis and profiling of additional market players
Read the full report: http://www.reportlinker.com/p04944762/Internet-of-Things-Market-by-Software-Solution-Service-Platform-Application-Area-and-Region-Global-Forecast-to.html
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