Global Internet of Things (IoT) Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024

Industry : ICTPublished Date : April 7th, 2018
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Global Internet of Things (IoT) market is expected to grow significantly from USD 1.2 Trillion in 2017, to USD 6.5 Trillion in 2024, at a CAGR of 26.6% from 2018 to 2024. The factors driving the growth of the global IoT market are increasing usage of internet, rising demand for automation technologies in various verticals, declining cost of smart sensors, and better cost efficiency in data processing. Moreover, advancement in technology attributes to increased efficiency and accuracy of various devices making them more user-friendly which is further driving the growth in the global IoT market. Furthermore, rising number of start-ups and investments in technology is also propelling the growth in the global market. The years used for the assessment are as follows:

  • Historical year : 2014, 2015,2016
  • Base year  : 2017
  • Forecast period : 2018 – 2024

RESEARCH METHODOLOGY

The research and analysis is based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are:

  • Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, and other secondary sources
  • Interacting with key opinion leaders of the market and developing data points based on interaction with them
  • Study of past trends in the market and their year on year Impact on the market size and share
  • Analyzing the collected data points
  • Bridging the data points to calculate the total IoT market and it various segments
  • Anticipating potential risks
  • Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the global IoT market
  • Finalizing the overall size and share for the global IoT market 

OBJECTIVES:  

  • To classify the global IoT market, segments are classified in software solution, service, platform, application area, Technology and region and analyze their growth prospects individually
  • To analyze market trends, opportunities, drivers and restraints associated with the global IoT market
  • Profiling key companies operating in the global IoT market
  • To study market response with respect to the mergers and acquisitions in the industry 

MARKET SCOPE

The research scope for global IoT market is as follows:

By Software Solution  

  •  Security
  •  Real time streaming analytics
  •  Network bandwidth management
  •  Remote monitoring system

By Service

  •  Deployment & integration
  •  Management service
  •  Professional service
  •  Maintenance

By Platform

  • Network management
  • Device management
  • Application management

By Application Area

  • Small retail
  • Connected logistics
  • Buildings & homes
  • Automation
  • Healthcare
  • Smart mobility
  • Others 

 By Technology

  • Zigbee
  • Bluetooth 4.0
  • Wi-Fi
  • RFID
  • Near field communication
  • Others

By Region 

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Middle East & Africa

Global Internet of Things (IoT) Market is expected to grow significantly from USD 1.2 Trillion in 2017, to USD 6.5 Trillion in 2024, at a CAGR of 26.6% from 2018 to 2024. Factors driving the growth of the IoT market are increasing usage of internet, rising demand for automation technologies in various verticals, declining cost of smart sensors, and better cost efficiency in data processing.  Moreover, advancement in technology attributes to increased efficiency and accuracy of various devices making them more user-friendly which is further driving the growth in the global IoT market. Furthermore, rising number of start-ups and investments in technology is also propelling the growth in the global market

On the basis of software solution, remote monitoring systems hold the largest market share. Based on service, consulting service is the largest segment, and support & maintenance is anticipated to be the fastest growing segment in the global IoT market. On the basis of technology, Wi-Fi technology holds the major market share owing to more secured and stable network with wide range of coverage area. Moreover, On the basis of application area, the smart manufacturing segment is expected to hold the major share in the global IoT market during the forecast period owing to increasing demand for automation technology among manufacturers.

Global IoT market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is expected to hold the major share of the global IoT market during the forecast period. The North American IoT market is driven by increasing investment in research and development (R&D), as the countries in this region are already economically well established. The rapid digitalization across industry verticals and technological advancements has further propelled the growth of the IoT market in North American region. Asia-Pacific is expected to be the fastest growing IoT market during the forecast period owing to increasing adoption of connected devices.

Key players operating in the global IoT technology market are ARM Holdings PLC, IBM Corporation, Symantec Corporation, FireEye Inc., Intel Corporation, Infineon Technologies, Sophos Group PLC, Wurldtech Security Technologies Inc., Trend Micro Inc., Gemalto NV, Qualcomm, Zebra Technologies, Hitachi Data Systems, Cisco Systems Inc., General Electric, Verizon, AT&T, Qualcomm, Siemens AG, CSC, Microsoft Corporation, PTC, SAP SE, Zebra Technologies, and Bosch Software Innovations.

internet of things market

TABLE OF CONTENTS

CHAPTER 1. Market Scope and Methodology

1.1. Market Definition

1.2. Market Segmentation

1.2.1. Market Breakdown, By Software Solution

1.2.2. Market Breakdown, By Service

1.2.3. Market Breakdown, By Technology

1.2.4. Market Breakdown, By Platform

1.2.5. Market Breakdown, By Application Area

1.2.6. Market Breakdown, By Region

1.3. Research Methodology

1.3.1. Initial Data Search

1.3.2. Secondary Research

1.3.3. Primary Research

1.3.4. Scope and Assumptions

1.4. Executive Summary

CHAPTER 2. Market Outlook

2.1. Introduction

2.2. Market Outlook

2.2.1. Market Share

2.2.2. Opportunities

    2.2.2.1. Increasing usage of IOT technology in various industries

2.2.3. Trends

  2.2.3.1. Advancement in technology and rising number of startups

2.2.4. Growth Drivers

   2.2.4.1. Growing usage of internet

   2.2.4.2. Increasing usage of automation technology

  2.2.4.3. Better cost efficiency in data processing

  2.2.4.4. Declining cost of smart sensors

2.2.5. Impact Analysis of Drivers on Future Forecast of the Market

2.2.6. Restraints of the Market

   2.2.6.1. Lack of awareness

   2.2.6.2. Dependency on micro controller

   2.2.6.3. Poor or no network connectivity

2.2.7. Impact Analysis of Restraints on Future Forecast of the Market

CHAPTER 3. Market Entry Strategy

3.1. PESTLE Analysis

3.2. Value Chain Analysis

3.3. Competitive Analysis

3.3.1. Company Market Share Analysis

3.3.2. Porter’s Five Forces Analysis

CHAPTER 4. Global Internet of Things (IoT) Market Size and Forecast (2014 – 2024)

4.1. Global Internet of Things (IoT) Market, By Software Solution

4.1.1. Security solutions

4.1.2. Real-time streaming analytics

4.1.3. Network bandwidth management

4.1.4. Remote monitoring systems

4.1.5. Data management

4.2. Global Internet of Things (IoT) Market, By Service

4.2.1. Deployment and integration

4.2.2. Managed service

4.2.3. Consulting service

4.2.4. Professional service

4.2.5. Support and maintenance

4.3. Global Internet of Things (IoT) Market, By Technology

4.3.1. Wi-Fi

4.3.2. RFID

4.3.3. Zigbee

4.3.4. Near Field Communication

4.3.5. Bluetooth Low Energy

4.3.6. Others

4.4. Professional service Global Internet of Things (IoT) Market, By Platform

4.4.1. Network management

4.4.2. Device management

4.4.3. Application management

4.5. Global Internet of Things (IoT) Market, By Application Area

4.5.1. Smart retail

4.5.2. Connected logistics

4.5.3. Building and home automation

4.5.4. Smart mobility and transportation

4.5.5. Healthcare

4.5.6. Smart energy and utilities

4.5.7. Smart manufacturing

4.5.8. Others

4.6. Global Internet of Things (IoT) Market, By Region

4.6.1. North America

4.6.2. Europe

4.6.3. Asia-Pacific (APAC)

4.6.4. Rest of the World (RoW)

   4.6.4.1. Middle East and Africa (MEA)

   4.6.4.2. Latin America

CHAPTER 5. Global Internet of Things (IoT) Market, By Region

5.1. North America Internet of Things (IoT) Market (USD Trillion)

5.1.1. North America Internet of Things (IoT) Market, By Software Solution (USD Trillion)

5.1.2. North America Internet of Things (IoT) Market, By Service (USD Trillion)

5.1.3. North America Internet of Things (IoT) Market, By Technology (USD Trillion)

5.1.4. North America Internet of Things (IoT) Market, By Platform (USD Trillion)

5.1.5. North America Internet of Things (IoT) Market, By Application Area (USD Trillion)

5.1.6. North America Internet of Things (IoT) Market, By Country (USD Trillion)

  5.1.6.1. U.S. Internet of Things (IoT) Market (USD Trillion)

  5.1.6.2. Canada Internet of Things (IoT) Market (USD Trillion)

  5.1.6.3. Rest of North America Internet of Things (IoT) Market (USD Trillion)

5.2. Europe Internet of Things (IoT) Market (USD Trillion)

5.2.1. Europe Internet of Things (IoT) Market, By Software Solution (USD Trillion)

5.2.2. Europe Internet of Things (IoT) Market, By Service (USD Trillion)

5.2.3. Europe Internet of Things (IoT) Market, By Technology (USD Trillion)

5.2.4. Europe Internet of Things (IoT) Market, By Platform (USD Trillion)

5.2.5. Europe Internet of Things (IoT) Market, By Application Area (USD Trillion)

5.2.6. Europe Internet of Things (IoT) Market, By Country (USD Trillion)

  5.2.6.1. Germany Internet of Things (IoT) Market (USD Trillion)

  5.2.6.2. France Internet of Things (IoT) Market (USD Trillion)

  5.2.6.3. Italy Internet of Things (IoT) Market (USD Trillion)

  5.2.6.4. Rest of Europe Internet of Things (IoT) Market (USD Trillion)

5.3. Asia-Pacific Internet of Things (IoT) Market (USD Trillion)

5.3.1. Asia-Pacific Internet of Things (IoT) Market, By Software Solution (USD Trillion)

5.3.2. Asia-Pacific Internet of Things (IoT) Market, By Service (USD Trillion)

5.3.3. Asia-Pacific Internet of Things (IoT) Market, By Technology (USD Trillion)

5.3.4. Asia-Pacific Internet of Things (IoT) Market, By Platform (USD Trillion)

5.3.5. Asia-Pacific Internet of Things (IoT) Market, By Application Area (USD Trillion)

5.3.6. Asia-Pacific Internet of Things (IoT) Market, By Country

  5.3.6.1. China Internet of Things (IoT) Market (USD Trillion)

  5.3.6.2. Japan Internet of Things (IoT) Market (USD Trillion)

  5.3.6.3. India Internet of Things (IoT) Market (USD Trillion)

  5.3.6.4. South Korea Internet of Things (IoT) Market (USD Trillion)

  5.3.6.5. Rest of Asia-Pacific Internet of Things (IoT) Market (USD Trillion)

5.4. Rest of the World (RoW) Internet of Things (IoT) Market (USD Trillion)

5.4.1. Rest of the World (RoW) Internet of Things (IoT) Market, By Software Solution (USD Trillion)

5.4.2. Rest of the World (RoW) Internet of Things (IoT) Market, By Service (USD Trillion)

5.4.3. Rest of the World (RoW) Internet of Things (IoT) Market, By Technology (USD Trillion)

5.4.4. Rest of the World (RoW) Internet of Things (IoT) Market, By Platform (USD Trillion)

5.4.5. Rest of the World (RoW) Internet of Things (IoT) Market, By Application Area (USD Trillion)

5.4.6. Rest of the World (RoW) Internet of Things (IoT) Market, By Region

  5.4.6.1. Middle East and Africa (MEA) Internet of Things (IoT) Market (USD Trillion)

  5.4.6.2. Latin America Internet of Things (IoT) Market (USD Trillion)

CHAPTER 6. Key Players and Strategic Developments

6.1. Cisco Systems

6.1.1. Business Overview

6.1.2. Product and Service Offering

6.1.3. Financial Overview

6.1.4. SWOT Analysis

6.1.5. Strategic Developments

6.2. Ericsson

6.2.1. Business Overview

6.2.2. Product and Service Offering

6.2.3. Financial Overview

6.2.4. SWOT Analysis

6.2.5. Strategic Developments

6.3. AT&T

6.3.1. Business Overview

6.3.2. Product and Service Offering

6.3.3. Financial Overview

6.3.4. SWOT Analysis

6.3.5. Strategic Developments

6.4. Intel Corporation

6.4.1. Business Overview

6.4.2. Product and Service Offering

6.4.3. Financial Overview

6.4.4. SWOT Analysis

6.4.5. Strategic Developments

6.5. Microsoft Corporation

6.5.1. Business Overview

6.5.2. Product and Service Offering

6.5.3. Financial Overview

6.5.4. SWOT Analysis

6.5.5. Strategic Developments

6.6. Oracle Corporation

6.6.1. Business Overview

6.6.2. Product and Service Offering

6.6.3. Financial Overview

6.6.4. SWOT Analysis

6.6.5. Strategic Developments

6.7. Hitachi Data System

6.7.1. Business Overview

6.7.2. Product and Service Offering

6.7.3. Financial Overview

6.7.4. SWOT Analysis

6.7.5. Strategic Developments

6.8. IBM Corporation

6.8.1. Business Overview

6.8.2. Product and Service Offering

6.8.3. Financial Overview

6.8.4. SWOT Analysis

6.8.5. Strategic Developments

6.9. Qualcomm.

6.9.1. Business Overview

6.9.2. Product and Service Offering

6.9.3. Financial Overview

6.9.4. Strategic Developments

6.10. International Business Machines Corporation

6.10.1. Business Overview

6.10.2. Product and Service Offering

6.10.3. Financial Overview

6.10.4. SWOT Analysis

6.10.5. Strategic Developments

6.11. Abbreviations

Global Internet of Things (IoT) Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation Forecast 2024