San Francisco, California, December 15, 2017 – The global market for Internet of Things (IoT) is anticipated to experience vast opportunities of growth in the forthcoming years, as reported by TMR Research. The report by the market research company, bearing the title, “Internet of Things Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” details about how the growing popularity of IoT is essentially propelling the market growth in an unprecedented way. However, continuous technological development and innovation are two aspects of this field that need to be relied on for the betterment of all the players of this market.
The market for IoT is projected to expand exponentially over the forecast period of 2017-2025. The market for IoT is also forecasted to register a robust CAGR throughout the period of forecast. Proven research methodologies that comprise market segmentation of IoT, key opportunities, market size and growth prospects, industry analysis that includes Porter’s five forces and value chain analysis are some of the important elements of the report. The report has been prepared in such a way that it serves as an information guide for stakeholders such as suppliers and distributors, private equity groups, and OEM. The report also features about key companies that are active in the global market for IoT. The market value of the companies, their recent strategic initiatives and financial performance gave also been gauged.
High-speed industrialization of Asia Pacific and Latin America are reportedly expected to bolster the growth of the market for IoT. Expanding global population, particularly in the Asia Pacific region is estimated to contribute towards the growth. Furthermore, phenomenal rise in the usage of smartphones and internet across the region is also responsible for the exponential growth of the market for IoT in Asia Pacific. IoTs have their applications in a wide range of industrial segments. IoTs are used in various industries such as automotive, building automation, energy, healthcare, logistics, and so on. IoT is used in improving upon the efficiency and connectivity across various industries.
However, there is a flipside of the market as well. There has been an increasing concern over threats of privacy and security. These factors are anticipated to mar the growth of the market for IoT during the forecast tenure.
The market for IoT has been segmented on the basis of geography, namely Asia Pacific, Latin America, North America, Europe, and Middle East and Africa. Asia pacific offers a promising market for IoTs and is poised for substantial growth over the forecast tenure of 2017-2025. Countries such as China, Singapore, South Korea and India are anticipated to be the major markets in the Asia Pacific region for IoT market
Smartron, a startup that is based out of India, has made its foray into the world of IoT and the company plans to launch a bundle of new IoT products in the coming years. Smartron will launch 8 new products with an aim to make their Tronx platform strong.
Amongst the North American countries, the market for IoTs in the U.S. is set to grow registering a healthy CAGR during the forecast period. Effective utilization of resources and government initiatives favoring IoT will further improve the market for IoT in the US and Europe.
Some of the key players of global IoT market are Qualcomm, Intel Corp., Microsoft Corp., Tech Mahindra, Apple Inc., Google Inc., Bosch Software Innovations, Accenture, GE, Ericsson, HP, Siemens, Samsung Electronics, Juniper Networks, Dell, Alcatel-Lucent, and so on.
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