Global Connected IoT Devices Market - Overview
According to Market Research Future (MRFR), the
global Connected IoT Devices Market is projected to grow at a
CAGR of approximately 19% from 2017 to 2023 (forecast period). The report
provides an extensive and in-depth review of the impact of the COVID-19
pandemic on the global connected IoT devices market.
Connected IoT devices relate to a network of
physical devices, home appliances, vehicles, and other electronics, sensors,
and actuators that allow objects to connect and send and receive data. It
covers a number of application areas, including consumer applications,
infrastructure management, enterprise management, and others.
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Market Dynamics
Increased demand for mobile applications and the
rising popularity of connected devices are the main factors boosting the growth
of the global market for connected IoT devices. In addition, the growing
adoption of bring your own device and carrying your own device can fuel the
development of the market.
Market Segmentation
The global connected IoT devices market has been
segmented based on the component, deployment, and application.
By component, the global connected IoT devices
market has been segmented into solutions and services. The solution segment is
further divided into data management, remote monitoring, real-time streaming
analytics, security solutions, and network bandwidth management. However, the
security solutions are projected to grow at the highest rate over the forecast
period due to the increasing security concerns amongst the clients deploying
IoT solutions for connected devices. Non-standardization and non-compatibility
in devices are other factors responsible for propelling the growth of security
solutions, thereby also fueling the development of the global connected IoT
devices market. The service segment is further divided into professional
services and managed services. The professional services segment is further
segregated into consulting services, integration services, and support and
maintenance.
By deployment, the global connected IoT devices
market has been segmented into a private cloud, public cloud, and hybrid cloud.
By application, the global connected IoT devices
market has been segmented into smart homes, connected logistics, smart
manufacturing, smart utilities, connected health, smart retail, and others.
Regional Analysis
The global market for connected IoT devices market
is studied in the Asia Pacific, North America, Europe, and Rest of the World.
The North American region has the largest market
share globally, followed by Europe and the Asia Pacific. The U.S. and Canada
dominate the North American market due to growing technological advances and
the proliferation of intelligent connected devices in the region. In addition,
the region has a well-established infrastructure that allows for faster
implementation of advanced technologies. In addition, the increasing adoption
of device and vendor agnostic platform is another significant factor boosting
the development of the connected IoT devices market in the region.
Key Players
Notable players in the global connected IoT devices
market are Advantech Co., Ltd. (Taiwan), Aeris Communication, Inc. (U.S.),
Amplia Soluciones (Spain), Cumulocity GmbH (Germany), IBM Corporation (U.S.),
Microsoft Corporation (U.S.), Oracle Corporation (U.S.), PTC Incorporation
(U.S.), Smith Micro Software, Inc. (U.S.), Telit Communications PLC (Italy),
Wind River Systems (U.S.), Xively (U.S.), Samsung Electronics Co. Ltd. (South
Korea), Motorola Inc. (U.S.), Nokia Solutions Network (Finland), LG Corporation
(South Korea), Hewlett-Packard (U.S.), HTC Corporation (Taiwan), Apple Inc.
(U.S.), Dell Inc. (U.S.) and others.
Technology giants such as IBM Corporation, Microsoft
Corporation, Oracle Corporation, and PTC Incorporation are some of the main
players in the global connected IoT devices market. IBM Corporation has
introduced IoT for electronics, which intakes device data and transforms that
data into meaningful insights that can optimize processes and provide new
guided designs. IoT for electronics focuses on controlling and evaluating
connected electronics, enhancing product development, and incorporating
enterprise asset management with IoT devices. At the same time, Oracle
Corporation focuses on providing solutions for a connected world by delivering
end-to-end solutions.
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