(MENAFN- Grand View Research, Inc.)
San Francisco, November 12, 2019: The Internet of Things (IoT) market was worth USD 605.69 billion in 2014 owing to rising requirement for internet connectivity worldwide coupled with technological advancements. The emergence of start-ups in different industries to satisfy growing need of consumers is anticipated to result in increasing venture capital investments. The market is estimated to grow at 15.2 % to reach over USD 1.88 trillion by 2022.
Competitive Landscape and Market Share Insights
Technology giants have stepped up their R&D investments in the sector to gain the early mover advantage. Moreover, companies are increasingly taking up mergers and acquisitions as their principal growth and market entry strategy.
The acquisition of Nest, a learning thermostat maker by Google and the acquisition of Basis, a wearable fitness manufacturer by Intel have enabled them an easy entry into the industry.
The industry is highly competitive and is driven by technological and product innovations. Major industry participants include Accenture PLC, Alcatel-Lucent, Amazon.com Inc., Atmel Corporation, Cisco Systems Inc., Google Inc., Hewlett-Packard, Huawei Technologies, IBM, and Oracle.
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Some of the key developments, mergers, and acquisitions in the market are as follows:
- The absence of universally accepted standards that give rise to security and privacy issues are expected to hamper growth in the industry. Moreover, the introduction of stringent rules and regulation in the U.S and Europe to tighten data security and privacy for internet users are anticipated to restrict further market growth.
- The global IoT market was dominated by device segment comprising of sensors and modules and contributed to over 30.0% of the overall market in 2014. The device segment is projected to witness significant growth opportunities through introduction of innovative IoT platforms as a substitute for competitor devices such as HomeKit by Apple Inc and Brillo by GoogeInc
- A significant revenue share in the IoT market is anticipated to be occupied by the consumer electronics application segment followed by manufacturing and retail. The introduction of new concepts such as connected cars in the transportation sector is expected to propel demand for IoT over the forecast period. In 2014, about 25.0% of the overall industry was acquired by this segment.
- Emerging economies such as Japan, India and China are expected to be the key drivers of IoT industry on account of manifestation of major component and technology manufacturers such as Huawei and Samsung coupled with the potential for the high-speed broadband internet. Asia Pacific is thereby projected to grow at a CAGR of approximately 16.0% over the next seven years.
- IoT is a dynamic market majorly fuelled by new product developments and enhancements in technology. Organizations are focussing on investing in IoT divisions, innovation labs, and R&D to obtain the first-mover advantage to expand globally and mark their presence. Key companies include major telecom and technology giants such as Alcatel-Lucent, Accenture PLC, Google Inc., Apple Inc., General Electric, IBM, Freescale Semiconductors, SAP SE and Samsung Electronics.
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Key Points Covered In The TOC Of IoT Market Are As Follows:
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumption
1.3. List of Data Sources
Chapter 2. Executive Summary
2.1. IoT - Industry snapshot and key buying criteria, 2012 - 2022
Chapter 3. IoT Industry Outlook
3.1. Market segmentation
3.2. Market size and growth prospects
3.3. IoT value chain analysis
3.3.1. Vendor landscape
3.4. IoT market dynamics
3.4.1. Market driver analysis
3.4.1.1. Technological proliferation
3.4.1.2. Growing penetration of internet and broadband services
3.4.1.3. Increasing venture capital investments in IoT industry
3.4.2. Market restraint analysis
3.4.2.1. Issues pertaining to safety and security
3.4.2.2. Lack of universally accepted standards
3.5. Key opportunities prioritized
3.6. Industry analysis - Porter's
3.7. IoT - Key competitor analysis, 2014
3.7.1. Market strategy overview
3.8. IoT market PESTEL analysis, 2014
Chapter 4. IoT Component Outlook
4.1. Devices
4.1.1. Global market estimates and forecasts, 2012 - 2022
4.2. Connectivity
4.2.1. Global market estimates and forecasts, 2012 - 2022
4.3. IT Services
4.3.1. Global market estimates and forecasts, 2012 - 2022
4.4. Platforms
4.4.1. Global market estimates and forecasts, 2012 - 2022
Chapter 5. IoT Application Outlook
5.1. Consumer Electronics
5.1.1. Global market estimates and forecasts, 2012 - 2022
5.2. Retail
5.2.1. Global market estimates and forecasts, 2012 - 2022
5.3. Manufacturing
5.3.1. Global market estimates and forecasts, 2012 - 2022
5.4. Transportation
5.4.1. Global market estimates and forecasts, 2012 - 2022
5.5. Healthcare
5.5.1. Global market estimates and forecasts, 2012 - 2022
5.6. Others
5.6.1. Global market estimates and forecasts, 2012 - 2022
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