Industry Background:
Software became an important segment for the whole IoT industry after hardware and services with the security spending crossing the USD 1.5 billion in 2017 itself. From 2018 to 2020, the market for software will grow at a huge rate with double-digit compounded annual growth rate as a result of growing government involvement, and technological evolution in the business and consumer sector being the main contributing factors.
This growth is primarily driven by Advent of Advanced Data Analytics and Data Processing and Reduction in the Cost of Connected Devices.
Globally, a noticeable market trend is evident Development of Wireless Networking Technologies
. The Internet Software & Services sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Cisco (United States), Centri Technology (United States), Dell EMC (United States), McAfee (United States), Symantec (United States), Microsoft Corporation (United States), IBM Corporation (United States), HP (United States) and Salesforce (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 28th January 2020, Cisco Launches a Comprehensive Security Architecture for Industrial IoT, Cisco Cyber Vision™ advanced anomaly threat detection, powered by Cisco Talos, provides real-time detection of cybersecurity threats to industrial assets.
On 11th December 2019, Cisco has unveiled further details behind its technology strategy for building a new internet one designed to push digital innovation beyond the performance, economic, and power consumption limitations of current infrastructure.
Market Drivers
- Advent of Advanced Data Analytics and Data Processing
- Reduction in the Cost of Connected Devices
Market Trend
- Development of Wireless Networking Technologies
- Increase in Cloud Platform Adoption
Restraints
- Data Security and Privacy Concerns
Opportunities
Interoperability and Lack of Common Standards, Shared Security Model and IoT Traction Among SMEs
Challenges
Data Migration From Legacy Systems and Rapid Demand in Bandwidth Requirement
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, IoT Softwares Study Sheds Light on
The IoT Softwares Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the IoT Softwares industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where IoT Softwares industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.