Albany – NY, Oct. 21, 2015 (GLOBE NEWSWIRE) — According to a new market report published by Transparency Market Research Internet of Things Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 – 2021,” Internet of Things market was valued at US$237.77 bn in 2014; growing at a CAGR of 21.4% from 2015 to 2021 to account for US$924.86 bn in 2021.
Browse Market Research Report with ToC & Free Analysis:
The Internet of Things refers to the network of physical objects which are embedded with software, electronics, network connectivity and sensors which enable the objects to exchange and collect data. Internet of Things is defined as an invisible and intelligent network of things that communicate indirectly or directly with each other. The internet is used to facilitate experience and efficiency. Internet of Things enable the communication between the physical objects and other Internet-enabled systems and devices. In addition, technological advancement in the field of healthcare, government initiatives for the expansion of Internet of Things and need to increase efficiency and cost reduction are the major factors that are driving the Internet of Things market globally. However, security risk and over-reliance on technology are posing challenges to the growth of the Internet of Things market.
Get Sample Report at-
The global Internet of Things market is segmented on the basis of technology into: ZigBee, Bluetooth low energy (BLE), near field communication (NFC), Wi-Fi and radio frequency identification (RFID). Wi-Fi technology led the global Internet of Things market in 2014. Key growth factors driving the Wi-Fi technology market owing to its wide usage across several industries such as campuses, schools, office buildings, lodging and residential homes among others. Wi-Fi can provide secure connection with software-defined networking by scanning and securing the devices at network entry point.
By application, global Internet of Things market is divided into: industrial, automotive, consumer electronics, retail, healthcare and others (including energy and utilities, and entertainment). As of 2014, industrial sector was the largest contributor in the global Internet of Things market. The potential for cyber physical systems to improve productivity in the supply chain and production process are increasing the demand for Internet of Things. Healthcare and consumer electronics sectors are expected to be the fastest growing applications in the Internet of Things market globally.
Browse Press Release
By geography, as of 2014, North America led the global Internet of Things market, accounting for 38.6% of the overall market. The rapid growth of industrial, automotive and healthcare industries is the major factor driving the growth of Internet of Things in North America. Europe held the second largest market share and the demand for Internet of Things market is expected to increase during the forecast period in the region. The market in Europe is primarily driven by government regulation supporting the growth of Internet of Things. The strong regulations in place will ensure the effective operability of the Internet of Things concept in various application areas. The automotive industry is expected to contribute a large share in Europe. Asia Pacific is expected to be the fastest growing region throughout the forecast period.
The report provides company market share analysis of various industry participants. The key players were also profiled on the basis of product type, company details, historical roadmap, financial overview, recent developments and the business strategies in the field of Internet of Things market. Major market participants in the Internet of Things market include Google Inc. (U.S), Cisco Systems Inc. (U.S), Apple Inc. (U.S), Microsoft Corp. (U.S), Intel Corp. (U.S) and IBM Corp. (U.S) among others.
Global Internet of Things market: by Technology
- Bluetooth Low Energy (BLE
- Near Field Communication (NFC)
- Radio Frequency Identification (RFID)
Global Internet of Things market: by Application
- Consumer Electronics
Global Internet of Things market: by Geography
Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia Pacific
Rest of the World (ROW)
- South America
- Middle East
Other Reports Published By Transparency Market Research:
Internet of Nano Things (IoNT) Market
Internet Protocol Version 6 (IPv6) Market
Internet of Things (IoT) and Machine-To-Machine (M2M) Communication Market
IT Security Consulting Market
Browse All Other Technology & Media Market Research Reports:
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports thrive to provide clients to serve their overall research requirement.
CONTACT: Mr. Atil Chaudhari 90 State Street, Suite 700 Albany, NY 12207 Tel: +1-518-618-1030 USA - Canada Toll Free: 866-552-3453 Email: email@example.com Website: http://www.transparencymarketresearch.com