Internet of Things (IoT) Market 2019 Industry Size , Share ,Development Strategy, Emerging Opportunities, Sales Revenue, Comprehensive Research Study, Competitive Landscape and Trends by Forecast 2026Internet of Things, or simply (IoT), denotes the system or technology which is capable to function at multiple application domains by connecting several devices through the internet. IoT is primarily dependent upon high-speed internet connectivity which includes 5G networks. Furthermore, cloud platforms and services are enabling several end-users to extract the full potential of IoT applications.
Rising demands for wireless networking devices and widespread applications of IoT technology are some of major factors contributing towards growth of IoT market. The global
Internet of Things (IoT) market
was valued at USD 185.2 billion in 2018 and is expected to reach USD 905.5 billion in 2026, growing at a CAGR of 21.6% during the forecast period.
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The internet of things market is complemented evolution of advanced data processing. Moreover, the demand for real-time streaming analytics, security solution, and data management is anticipated to encourage market growth in coming years. Additionally, rapid growth in internet adoption and increasing penetration of smart devices is propelling the demand for IoT industry.
Several key industry players are focused on introducing compatible solutions for data-driven industries. Technologies such as medical device integration and remote monitoring in the healthcare industry are changing the way of offering healthcare services more efficient. Likewise, in the automotive industry, technological advancements in terms of connected vehicles and autonomous cars have made personal transportation safer than ever. All these factors are cumulatively benefitting the IoT industry globally.
The major players operating in the global IoT market are Affectiva (US), Beyond Verbal (Israel), iMotions (Denmark), Kairos (US), Noldus Information Technology (Netherlands), Cogito (US), Tobii (Sweden), Sentiance (Belgium), NVISO (Switzerland), Lexalytics (US), Sensum (UK), IBM Corpoaration (US), Microsoft Corporation (US), Google, Inc. (US), Gorilla Technology (Taiwan), and Adoreboard (Antrim) among others.
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Based on the software solution, the security solution segment is expected to grow at the highest CAGR of around 25% during the forecast period
Based on the service, the professional service segment is expected to hold 78% in the market in 2018
Based on the platform, the cloud platform segment is expected to register a highest CAGR of 23% in the global market throughout the forecast period
Based on the application, the banking and financial services segment is expected to lead during the forecast period
Based on the region, North America led the global IoT market globally by accounting more than 40% share of the global IoT market in 2018
In March 2019, Sweden based Tobii Technology made an announcement of introducing new technology for virtual reality and artificial intelligence development.
In December 2018, Miami based Kairos AR, Inc. launched an improved version of its cloud-based facial recognition API. The new version is aimed at addressing critical privacy and data security requirements.
Global IOT Market is significantly growing in following region : North America (US and Canada), Europe (UK, Germany, France and Rest of Europe), Asia Pacific (China, Japan, India and Rest of Asia Pacific), Latin America (Brazil, Mexico and Rest of Latin America), Middle East & Africa (GCC and Rest of Middle East & Africa)
North American region dominated the global IoT market in 2018 by accounting more than 40% of market share. On the other hand, Asia Pacific region is anticipated to showcase tremendous growth rate in forecast period owing to rapid demand from applications segments and increasing investments.
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