November 29, 2019 by Market-NewsFlash
Global IoT Market, By Software (Data Management, Network Management), By Hardware(Sensors, camera), By Services (Manage Services, Professional Services), By Organization Type (Small & Medium Scale Business, Large Scale Business) — Forecast 2022
IOT Market Overview:
Market Research Future (MRFR) has announced the release of a new market research report on the global Internet of Things (IoT) market. The report presents a detailed profile of the global Internet of Things market based on the historical growth trajectory and key components of the market, and provides studied forecasts for the market’s growth over the forecast period from 2017 to 2022. The report predicts stable growth for the global Internet of Things market at a CAGR of around 19.75% over the forecast period. The market is expected to reach a valuation of USD 2,488 billion by the end of the forecast period.
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The Internet of Things is a software solution for connecting multiple devices so that they can work in synchronization and data can be gathered from each individual element of the module. The Internet of Things is particularly used to refer to a network in which objects that traditionally lack wireless connectivity are imparted wireless connectivity for a specific purpose. The objects in question can range from various components in a manufacturing line to the multiple electrical fittings in a house. The Internet of Things works through the implementation of sensors on the individual objects in question, which join up through a wireless connectivity platform to provide synchronized results.
Regionally, the global Internet of Things market is segmented into North America, Europe, Asia Pacific, and rest of the world.
North America is likely to remain the major regional segment of the global Internet of Things market over the forecast period. Due to the presence of several leading players in the IoT sector, the North American market has witnessed easy adoption of successive advances in the IoT design as well as high awareness among the consumers about the benefits of the Internet of Things. Europe also has a solid market share in the global Internet of Things market due to the growing efforts from various industries to adopt smarter, more efficient processes.
The prominent players in the market of IoT market are — Amazon Web Services (U.S), AT & T Inc. (U.S), Cisco System Inc. (U.S), Google Inc. (U.S), Oracle Corporation (U.S), , Dell Inc. (U.S), Microsoft Corporation (U.S), Hitachi Data Systems (U.S.), Huawei Technologies Co. Ltd. (China) — International Business Machines Corporation (IBM) (U.S) — and among others.
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