Press release
Internet of Things Market is expected to register a CAGR of 21% during the forecast period of (2018-2023)| Key Players-INTEL CORPORATION, CISCO SYSTEMS, INC., ORACLE CORPORATION, IBM, GOOGLE INC., HEWLETT PACKARD ENTERPRISE, SAP SE, GENERAL ELECTRIC, amon
Market Analysis:Asia-Pacific to Show Highest Growth
The rising influx of technology companies coupled with increasing investment in the region is expected to propel the market growth rate. Moreover, the governments of various countries in the region are focusing majorly on Internet of Things (IoT) in order to enhance the operations and to develop the nation, which is likely to boost the Internet of Things market.
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IoT helps in connecting various smart devices to ease the operation and sharing of data amongst the peers. The increasing need for data analysis and integration of analytics is expected to propel the utilization of the IoT market over the forecast period. The adoption of cloud platform is on the rise owing to the ease of storage and sharing with diverse set of people. Furthermore, it offers high security from natural disasters and data loss, which is likely to boost the market over the next six years. Managed services are becoming popular owing to companies’ increasing focus on core competencies. Further, the third party companies also offer enhanced data management with regular maintenance, which is likely to boost the market growth over the forecast period.
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Market Segments:
Internet of Things Market is segmented by:
1. Solution: Monitoring, Attainment, Operational, Life
2. Services: Managed, Professional
3. End User: Automobile, Manufacturing, Energy, Retail, Healthcare, Others
4. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa
Recent Developments
•March 2018 - Intel and Linux Foundation launched open source Internet of Things (IoT) hypervisor, which will streamline embedded devices. This is expected to fuel the company’s presence and boost finances.
•March 2018 - IBM launched Watson Assistance powered by artificial intelligence and Internet of Things, which can be accessed through text or voice. This is likely to enhance the consumer experience and business’s brand loyalty bringing more customers to the company.
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