Internet of things (IoT) Market Size, Share, Growth, and Forecast to 2025
Posted by rekhamuthyala on September 25th, 2019
The global internet of things (IoT) market accounted for US$ XX Mn in 2018 and burgeoning over the forthcoming years. Some of the key factors propelling the market growth are rising demand for internet of things across various end user sectors, emergence of wireless networking technologies and rise in cloud platform adoption. However, increasing number of data security & privacy concerns and interoperability issues and lack of common standards are hampering the market growth.
Global internet of things (IoT) market segmented on the basis of platform, service, software solution, end-user and region.
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Smart Retail Dominate the Global Internet of things (IoT) Market
Based on end user, global internet of things (IoT) market segmented into connected logistics, building and home automation, smart manufacturing, smart mobility and transportation, smart energy and utilities, smart retail and others. Smart retail segment held considerable market growth during estimated period.IoT in retail can help retailers improve store operations, enhance customer experience and drive more conversions. Moreover, IoT can help retailers solve day-to-day problems such as tracking energy utilization, managing in-floor navigation, detecting crowded areas, reducing check out timings, managing product shelves, preventing theft, monitoring goods, etc. Thus the demand for IoT in retail sectors is rising.
Asia Pacific Leads the Global Internet of things (IoT) market
PBI’s global internet of things (IoT) market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis.This region is one of the key markets for internet of things (IoT). The growth of this region is due to growing investments by the market players in IoT technology, rising demand for IoT devices from various sectors such as smart manufacturing, smart energy & utilities and building, and home automation in emerging countries such as India and China.
Strategic Collaboration are the Key Strategies Adopted by Market Players
Global internet of things (IoT) market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For Instance, in 2019,IBM Corporation announced a collaboration with Sund & Bælt, which owns and operates some of the largest infrastructures in the world, to assist in IBM's development of an AI-powered IoT solution designed to help prolong the lifespan of aging bridges, tunnels, highways, and railways.
Key player’s profiles in the report are Microsoft Corporation, Oracle Corporation, International Business Machine (IBM) Corporation, Intel Corporation, SAP SE, Cisco Systems, Inc., PTC Inc., Google Inc., Hewlett Packard Enterprise and Amazon Web Services, Inc.
Precision Business Insights (PBI) in its report titled “Global Internet of things (IoT) Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. Moreover, the report also includes the total revenue and volume for the market.
o Application Management
o Device Management
o Network Management
o Managed Services
o Professional Services
By Software Solution
o Data Management
o Real-Time Streaming Analytics
o Remote Monitoring
o Network Bandwidth Management
By End User
o Connected Logistics
o Building and Home Automation
o Smart Manufacturing
o Smart Mobility and Transportation
o Smart Energy and Utilities
o Smart Retail
o North America
o Latin America
o Middle East and Africa (MEA)
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