Global Internet of Things (IoT) Market Growing To Reach on an Average 7 Connected Devices per Person By 2020

According to Goldstein Research, global IoT market is potential of USD 250 billion in 2016 to support total service expenditure, growing at a compounded annual growth rate of 17.0% over the forecast period 2016-2024. The technological advancement has increased the connectivity through telecommunication and internet. Increasing adoption of connected devices such as smart wearable and smart home appliances is driving the growth of IoT market globally. Internet of Things (IoT) market segmentation has been carried out on the basis of components, software, application, end-user, and geography. Based on the end-user, industrial segment accounted for largest market share. Moreover, enterprise, home, and government are the core sectors of global IoT industry. Global IoT market is majorly driven by developed regions such as Europe and North America. Sweden, Norway, New Zealand and Finland are the top IoT market across the world. Further, in the Asia Pacific, the India Internet of Things (IoT) market is the fastest growing IoT market in terms of adoption of advanced technologies and other developmental activities.

Market Segmentation

On the basis of our in-depth analysis, Global IoT Market can be segmented as follows:

  • By Components
    • Internet of Things (IoT) Devices
      • Non-wearable Devices
      • Wearable Devices
    • Internet of Things (IoT) Platforms
      • Connectivity/M2M Platforms
      • Infrastructure-as-a-Service (Iaas) Backend Platforms
      • Hardware specific software Platforms
      • Consumer/Enterprise Software Extension Platforms
    • Sensors & Actuators


  • By Software
    • Data Management S/W
    • Network Management S/W
    • Security S/W
    • Remote Monitoring S/W
    • Real-Time Streaming Analytics S/W


  • By Application
    • Smart Homes (e.g. smart thermostats, connected lights, smart appliances, smart door locks)
    • Wearables (e.g. smartwatch, activity tracker, smart glass)
    • Smart City (e.g. smart parking, smart waste management)
    • Smart Grid (e.g. smart metering)
    • Industrial automation (e.g. remote asset control, workforce monitoring)
    • Connected car (e.g. remote car control)
    • Connected Health (e.g. Tele-medicine)
    • Smart Retail (e.g. smart mirrors)
    • Smart Supply Chain (e.g. RFID Trackers)
    • Smart Agriculture (e.g. smart watering systems)


  • By End-User
    • Consumer Electronics Sector
    • Transportation & Logistics Sector
    • Energy Sector
    • Manufacturing Sector
    • Healthcare Sector
    • Agriculture Sector
    • Retail Sector
    • Others (Education Sector)


  • By Region
    • North America (US, Canada) {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
    • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
    • Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
    • Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
    • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
    • Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}


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Market Growth Drivers & Key Players

“Global IoT Market Outlook 2016-2024” report contains a detailed overview of the global IoT market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by components, software, application and end user.

Further, for the in-depth analysis, IoT Market Trends report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such asIBM, Google, Intel, Microsoft, Cisco, Ericsson, Qualcomm, Facebook, PTC Inc., Accenture PLC, Inc., Hewlett Packard Enterprise, International Business Machine, Verizon (Networkfleet, GridWide, Verizon Share, hum and Intellegent Track and Trace), NXP Semiconductors, EIP-AGRI, Empatica (Embrace), Lumo Bodytech Inc. (Lumolift), Philips (Respironics and SleepMapper), Zerintia Healthcare (Real Time Healthcare), Chrono Therapeutics (Chrono SmartStop), FuGenX Technologies, etc.

The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments. Overall, the report represents the global IoT market trends along with the market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

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