Market Overview
The global connected IoT devices market is expected to exhibit a strong 19% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global connected IoT devices market is expected to garner a solid growth rate in the coming years due to the growing demand for the implementation of IoT technology in a number of industrial end use channels. The global connected IoT devices market is likely to be a vital market for ensuring steady progression of the global economy, as IoT devices and technology are likely to be used in an increasing number of end-use industries over the forecast period.
The report presents a detailed historical report on the global Connected IoT Devices Market, further using the historical data to make qualified, reliable projections about how the market is likely to grow over the forecast period. Leading players in the global connected IoT devices market and their key competitive strategies are also profiled in the report in order to provide readers with a clear picture of the competitive landscape in the market.
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The growing demand for IoT technology in manufacturing, smart homes, telehealth, and other end-use applications is likely to be the major driver for the global connected IoT devices market over the forecast period. Smart homes are likely to be increasingly popular over the forecast period, as users around the world become more aware of the various advantages of smart home technology and opt to incorporate the same into their residential architecture. Governments are also supporting the growth of the smart homes market due to the significant reduce in power expenditure that could be achieved by widespread adoption of smart home technology. Industrial IoT is also likely to be a major revenue generator for the global connected IoT devices market over the forecast period, as the manufacturing sector is increasingly making use of IoT technology to keep track of disparate processes.
Segmentation
The segmental analysis of the global connected IoT devices market has been conducted among the elements of component, deployment, and application
- In terms of component: Solution and service are the segments. Wherein, the solution segment is further classified into remote monitoring, data management, real-time streaming analytics, security solutions, data management, and network bandwidth management. At the same time, the service segment is further categorized into professional services and managed services. Next, the professional services segment is additionally classified into consulting services, integration services, and support and maintenance.
- In terms of the deployment: Private cloud, public cloud, and hybrid cloud are the segments.
- In terms of application: Smart homes, connected logistics, smart utilities, connected health, smart retail, smart manufacturing, and more are the segments.
Key Players:
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.
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Regional Analysis
Regionally, the global connected IoT devices market is studied among the key regions of Asia Pacific, North America, Europe, and the Rest of the World.
Among these, it has been studied that North America can own the largest share of the market where the growth is attributed to the factors of technological advancements and surged adoption of mobile devices that are enabled with NFC services across various industry verticals. Other factors responsible for growth in this region, therefore, include rapid digitalization across different industry verticals, rising adoption of smart connected devices. Apart from this, IoT has observed vast applications among various industries in the US. In case of point, Lineage Logistics, a warehouse, and storage company in the US collaborated with Monnit Corporation for enabling IoT sensors. Monnit Corporation also provided Lineage Logistics with IoT temperature and vibration sensors.
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