NEW YORK, Dec. 9, 2015 /PRNewswire/ -- This report highlights three verticals in the IoT market, where there is significant traction today. These verticals include the smart home (home automation), industrial smart devices or industrial Internet of things (iIoT) and wearables (smart devices). These verticals are discussed and analyzed in detail, while the segments for the devices and chipsets used for IoT within them are sized and forecast (through 2020) in terms of revenue opportunity.
The global market for Internet of Things (IoT) devices and chipsets reached nearly $4.2 billion in 2014. This market is expected to reach $6.6 billion by 2015 and nearly $49.2 billion by 2020, registering a compound annual growth rate (CAGR) of 49.3% from 2015 to 2020.
This report provides:
- An overview of the global markets for the parts and technologies used to make the Internet of Things (IoT) devices.
- Analyses of global market trends, with data from 2014, estimates for 2015, and CAGRs through 2020.
- Coverage of major industry verticals including home automation, healthcare, industrial automation, smart energy, wearable technology, asset tracking and transportation, and connected vehicles.
- A look at the technologies involved from both a software as well as hardware point of view.
- Information on current state of the art of IoT devices and areas where market traction is predominant.
- Profiles of key players in different segments along with market share information.
SCOPE OF REPORT
The IoT market is booming but lacks clear direction and many companies are trying to come up their own solutions. Top players such as Google, Samsung and Apple are creating products for which they see a market whereas many start-ups are coming up with novel ideas for technology adoption. The race is on to become vendor of choice.
The nature of IoT applications is limited only by one's imagination. A list of overall applications for IoT includes segments such as:
- Wearable and smart devices.
- Infrastructure management.
- Industrial control and automation.
- Energy management.
- Medical systems.
- Home automation.
- Smart cities.
In addition, IoT devices offer two types of value propositions. First, there is the value added by the device in which the device itself is the vital link in a system that provides savings through efficient data capture, analysis and system calibration. An example of this is the Nest thermostat from Google's Nest Labs subsidiary, which regulates temperature to enable power savings with proper calibration through integrated IT systems. Without the connected device (in this case the thermostat) there is no data capture to allow the IT system to properly analyze and calibrate energy usage.
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