Internet of Things Market Scope
Internet of things (IoT) is a system of various interconnected objects such as computing devices, entities as well as people over a network which are capable of transferring data. IoT brings various connected devices together which opens up a new world of possibility for innovation. Organizations across the boards are leveraging IoT technology to streamline their operations, improve decision making, offer enhanced customer service, and creating new business opportunities.
According to AMA, the Global Internet of Things market is expected to see growth rate of 23.98% Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Internet of Things market throughout the predicted period.
Honeywell International Inc. (United States), Amazon Web Services, Inc. (United States), Texas Instruments (United States), Microsoft (United States), Google (United States), Intel Corporation (United States), Huawei Technologies Co., Ltd. (China), IBM Corporation (United States), SAP SE (Germany), AT&T Inc. (United States), Cisco Systems Inc. (United States) and Siemens AG (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Tobii (Sweden), Sentiance (Belgium), Kairos (United States) and Sensum (United Kingdom).
Segmentation Overview
The study have segmented the market of Global Internet of Things market , by Application (Building and Home Automation, Smart Energy and Utilities, Smart Manufacturing, Connected Logistics, Smart Retail and Smart Mobility and Transportation) and Region with country level break-up.
On the basis of geography, the market of Internet of Things has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
The Advent of Advanced Data Analytics and Data Processing, Reduction in the Cost of Connected Devices and Growing Penetration of Automation and Introduction of Industrial IoT
Market Growth Drivers:
Increasing Investment in the Development of Wireless Networking Technologies Globally, Adoption of Cloud Platform and Growing Number of Smart Devices across the World, and The combination of AI, machine learning and contextually rich, real-time data
Challenges:
Data Migration From Legacy Systems and Issue Related Towards the Connectivity of Devices
Restraints:
Data Security and Privacy Concerns, Interoperability and Lack of Common Standards and The Dearth of Skilled Professionals
Opportunities:
Increasing Collaboration and Partnership between Various Technology Giants to Offer Real-Time Data Analysis, Small and Medium Enterprises Gaining IoT Traction and The Growth in the Usage of Disruptive Technologies include Artificial Intelligence, Machine Learning, and Big Data Globally
In March 2019, Tobii launched new tools and resources for XR, VR, AR, and PC development. These Software Development Kit (SDK), tools, and resources enable the easy integration of eye tracking technology and create enhanced experiences for customers
United States and United Kingdom governments are cracking the whip on Internet of Things (IoT) insecurity with new regulations aimed aimed at ensuring IoT devices are more secure both in the public and private sectors, respectively. In the United States, Congress has proposed legislation recently introduced in both the Senate (S.734) and the House (H.R. 1668) that seeks new security standards for IoT devices sold to government agencies from vendors and federal contractors. and As a part of this legislation, the National Institute of Standards and Technology (NIST) is being tasked with completing its review of considerations for managing the cybersecurity risks associated with Internet of Things devices by September, 2019.
Key Target Audience
Internet of Things Technology Providers, Software Companies, System Integrators, Government and Private Organisation, End Users and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.