Global Internet of Things Market to Reach US$924.8 bn by 2021, Technical Advancement in Healthcare to Drive Growth

Transparency Market Research (TMR) has recently announced the publication of a market study on the global Internet of Things (IoT) market. The research report presents an analysis of the current as well as historical performance and the growth prospects of the global IoT market during the period from 2015 to 2021.According to the research report, titled “Internet of Things Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021,” the worldwide IoT market stood at US$237.7 bn in 2014. Expanding at a CAGR of 21.40% between 2015 and 2021, the market is likely to reach an estimated value of US$924.8 bn by the end of the forecast period.

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According to the research study, the technical advancement in the field of medicine and healthcare and various initiatives taken by several governments across the world to promote the IoT are fueling the global market for IoT significantly. In addition to this, the increase in the demand for smart devices worldwide is projected to propel this market in the coming years.

The report studies the global IoT market on three fronts: technology, application, and the regional spread of this market. ZigBee, near field communication (NFC), bluetooth low energy (BLE), radio frequency identification (RFID), and Wi-Fi are the major technologies utilized in IoT. The report states that Wi-Fi technology led the overall market in 2014. The wide-ranging usage of Wi-Fi technology was the key driving force behind the growth of this segment.

The automotive, industrial, consumer electronics, healthcare, and retail sectors are the prime application areas of IoT. The industrial sector emerged as the biggest consumer of IoT in 2014. However, the consumer electronics and healthcare sectors are anticipated to report the fastest growth over the forecast period, notes the study.

Browse the full Internet of Things Market Research report at http://www.transparencymarketresearch.com/internet-of-things-market.html

Regionally, the research report divides the global IoT market into North America, Asia Pacific, Europe, and the Rest of the World. In 2014, North America held a share of 38.6% in the overall market, acquiring the leading position. The rapid rise of the automotive, medical and healthcare, and industrial sectors in this region has boosted the North America IoT market remarkably. Analysts at TMR expect these factors to continue to drive this regional market and help it maintain its position during the forecast period, says the research study.

Further, the market report states that Europe occupied the second position in the global market in 2014 and was followed by Asia Pacific. However, Asia Pacific is projected to register the fastest growth among all the regional IoT markets over the forecast period.

The global IoT market is led by Alcatel-Lucent, Cisco Systems, AT&T, and Ericsson. Other prominent market participants mentioned in this research report are Huawei Technologies, Oracle, PTC, Samsung Electronics, Amazon Web Services, Qualcomm, Google, Microsoft, Apple, Freescale Semiconductor, ARM Holdings, IBM, General Electric, Intel, and Bosch Software Innovations.

The global IoT market is segmented into:

By Technology

ZigBee
Bluetooth Low Energy (BLE
Near Field Communication (NFC)
Wi-FI
Radio Frequency Identification (RFID)

By Application

Industrial
Automotive
Consumer Electronics
Retail
Healthcare
Others

By Region

North America
U.S.
Rest of North America

Europe
United Kingdom
Germany
France
Italy
Rest of Europe

Asia Pacific
China
Japan
India
Rest of Asia Pacific

Rest of the World (ROW)
South America
Middle East
Africa

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend 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.

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This release was published on openPR.