According to the new market research report, “Internet of Things (IoT) Market, by Type (Intelligent System, Software, Service), Software (Security, Data Management, Analytics, Communication), Services (Consulting, Integration & Implementation, Outsourcing, Repair & Maintenance Services), End-user (Public Sector, BFSI, Retail, Healthcare, IT & Telecom, Media & Entertainment, Energy & Utility, Transportation) – Global Revenue, Trends, Growth, Share, Size and Forecast to 2022“, published by Scalar Market Research, the global Internet of Things (IoT) market is expected to grow at a CAGR of 12.6%. At the estimated growth rate the Internet of Things (IoT) market is expected to grow from USD 1,470.8 billion in 2016 and reach USD 2,995.2 billion by 2022.
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The global Internet of Things (IoT) market report offers in-depth analysis about the market size (revenue), market share, major market segments, global geographies, forecast, key players, and premium trends. It also focuses on the key drivers and opportunities in this market.
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Few key findings of the report:
- The rapid rise in digitization is the major driving factor for this market. The Internet of Things (IoT) market report suggests the rising digitization of the business models across the small and medium businesses around the world to be a strong growth driver for the market.
- The introduction of smart cities is also expected to create exciting business opportunities for the key players in the Internet of Things (IoT) market during the forecast period.
- The report suggests that smartphone revolution and the rising number of smartphone buyers, especially across the emerging markets will be a significant driving factor for the Internet of Things (IoT) market.
The report segments the global Internet of Things (IoT) market based on the types, services, software, and end-users. By the types, the market is segmented into software, services, and intelligent services. By services, the market is segmented into integration & implementation, consulting, repair & maintenance, and outsourcing. By software, the Internet of Things (IoT) market is segmented into analytics, data management, security, communication, and analytics.
North America is expected to be the largest geographic region. Asia-Pacific region is set to become the fastest-growing geographic segment in the market. Growth in demand, advancing technologies and increased investment in the region are expected to be the major driving factors for the market in this particular region. The report suggests that Internet of Things (IoT) market is expected to create potential investment opportunities for the emerging players in the industry.
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The key players analyzed in the Internet of Things (IoT) market report include:
- Accenture Plc.
- Bosch Software Innovations GmbH
- Cisco System Inc.
- General Electric
- Hewlett-Packard Company
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- Telefonica S.A.
- Vodafone Group Plc.
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Scalar Market Research, Inc., a U.S.-based market research and consulting firm, aspires to assist organizations from around the world to achieve their business goal with premium market research reports and consulting services. Our real-time industry tracking, with the help of advanced analytics, offers a crystal clear view of all the activities in niche markets. Our team, with thorough global understanding, works relentlessly to gather the necessary market insights, including customer analysis, competitions and global forecast.
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