Market Synopsis of Connected IoT Devices Market:
Connected IoT devices refer to a network of physical devices, home appliances, vehicles and other electronics, sensors, and actuators that enable objects to connect with each other and send & receive data. It comprises of various application areas including consumer applications, infrastructure management, enterprise management, and others.
Technology giants such as IBM Corporation, Microsoft Corporation, Oracle Corporation, and PTC Incorporation are some of the major players in the global Connected Iot Devices Market. IBM Corporation has launched IoT for electronics, which ingests device data and transforms that data into meaningful insights, which can help optimize processes and provide new guided designs. The IoT for electronics focuses on controlling and analyzing connected electronics, enhancing product development, and integrating enterprise asset management with IoT devices. Whereas, Oracle Corporation focuses on providing solutions for a connected world by providing end to end solutions.
Increasing demand for mobile applications and growing popularity of connected things are other major factors driving the growth of the global connected IoT devices market. Furthermore, increasing adoption of bring your own device and carry your own device is boosting the growth of the market. The proliferation of intelligent connected devices is one of the major factors driving the growth of the connected IoT devices market.
The global connected IoT devices market is segmented on the basis of the component, deployment, and application. The component segment is classified into solution and services. The solution segment is further classified into data management, remote monitoring, and real-time streaming analytics, security solutions, and network bandwidth management. However, the security solutions are expected to grow at the highest rate over the forecast period owing to the increasing security concerns amongst the clients deploying IoT solutions for the connected devices. Non-standardization and non-compatibility in devices is another factor responsible for driving the growth of security solutions, thereby is also responsible for fueling the growth of the global connected IoT devices market.
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The North American region holds the largest share of the market across the globe followed by Europe, and Asia Pacific region. The U.S. and Canada are dominating the North America market due to rising technological enhancements and proliferation of intelligent connected devices in the region. Moreover, the region has a well-established infrastructure, which allows faster implementation of advanced technologies. Additionally, the growing adoption of device and vendor agnostic platform is another major factor driving the growth of the connected IoT devices market in the region.
The global connected IoT devices market is expected to grow at a CAGR of approximately 19% during the forecast period 2017-2023.
Some of the prominent players in the global connected IoT devices market are Advantech Co., Ltd. (Taiwan), Aeris Communication, Inc. (U.S.), Amplia Soluciones (Spain), Cumulocity GmbH (Germany), IBM Corporation (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), PTC Incorporation (U.S.), Smith Micro Software, Inc. (U.S.), Telit Communications PLC (Italy), Wind River Systems (U.S.), Xively (U.S.), Samsung Electronics Co. Ltd. (South Korea), Motorola Inc. (U.S.), Nokia Solutions Network (Finland), LG Corporation (South Korea), Hewlett-Packard (U.S.), HTC Corporation (Taiwan), Apple Inc. (U.S.), Dell Inc. (U.S.) and others.
The global connected IoT devices market is segmented by component, deployment, and application. Based on the component, the market is segmented into solution and service. The solution segment is further classified into data management, remote monitoring, real-time streaming analytics, security solutions and, network bandwidth management. Whereas, the service segment is further classified into professional services and managed services. The professional services segment is further classified into consulting services, integration services, and support and maintenance. Based on the deployment, the market is segmented into a private cloud, public cloud, and hybrid cloud. Whereas, based on the application, the market is segmented into smart homes, smart manufacturing, smart utilities, smart retail, connected health, connected logistics, and others.
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The global connected IoT devices market is studied in Asia Pacific, North America, Europe, and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Europe is projected to grow at the fastest rate during the forecast period. The North American market growth is attributed to technological advancements and increased adoption of mobile devices enabled with NFC services across various industry verticals.
- Technology Investors
- Research/Consultancy firms
- Technology Solution Providers
- Government Bodies
- IoT devise management solution vendors
- System integrators
- Regulatory agencies
- Investors and venture capitalists
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