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Internet of Things (IoT) market expected to reach USD 2995.2 billion by 2022 - Scalar Market Research

03-29-2017 09:38 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Scalar Market Research

Internet of Things (IoT) market expected to reach USD 2995.2

Internet of Things (IoT) Market, by Type (Intelligent System, Software, Service), Software (Security, Data Management, Analytics, Communication), Services (Consulting, Integration & Implementation, Outsourcing, Repair & Maintenance Services), End-user (Public Sector, BFSI, Retail, Healthcare, IT & Telecom, Media & Entertainment, Energy & Utility, Transportation) - Global Revenue, Trends, Growth, Share, Size and Forecast to 2022

Internet of Things (IoT) market worth USD 1470.8 billion in 2016 and expected to reach USD 2995.2 billion by 2022, at a CAGR of 12.6% between 2016 and 2022.

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We know that within the Iot market the intelligent system will be the largest type segment while software will be the fastest growing segment growing at a CAGR ranging from 15% to 20% during the forecast period. In addition, the operation management will be the fastest growing service segment in the market growing at a CAGR ranging from 15% to 20% during the forecast period. The Asia Pacific region will be the fastest growing geographic region in the market growing at a CAGR of more than 15% by 2022.

KEY PREMIUM INDUSTRY INSIGHTS:

Growing digitization of the business models across medium enterprises primary drivers fueling the growth of the iot market

The introduction of smart city initiatives by government and rising adoption of smartphone and tablet expected to boost growth of iot market

Other factors such as increasing introduction to smart devices and appliances widening application areas and growing transition from IPV4 to IPV6 are increasing the ontake in iot technology across globe.

However the high selling price of smart devices and appliances is impeding the growth of the market. Data privacy and security threats and lack of awareness in developing regions hampering growth of the global market.

RESEARCH METHODOLOGY:

The research methodology for Scalar Market Research’s iot market report utilizes a combination of top-down and bottom-up research formats. Our primary focus on continuous market tracking, rigorous fact-checking, data-triangulation, and multiple layers of quality control ensures high-quality data that can be leveraged for actionable research insights.

Browse Report: https://www.scalarmarketresearch.com/market-reports/internet-of-things-iot-market-1

TRENDING RELATED REPORT

Wearable technology market worth USD 29.92 billion in 2016 and expected to reach USD 71.23 billion by 2021, growing at a CAGR of 18.9% from 2016 to 2021
https://www.scalarmarketresearch.com/market-reports/wearable-technology-market

Internet of Things (IoT) market worth USD 1470.8 billion in 2016 and expected to reach USD 2995.2 billion by 2022, at a CAGR of 12.6% between 2016 and 2022.
https://www.scalarmarketresearch.com/market-reports/internet-of-things-iot-market-1

About Scalar Market Research

Scalar Market Research Inc. aspires to assist organizations from around the world to achieve their business goal with premium market research reports and consulting services. Our real-time industry tracking with the help of advanced analytics offers a crystal clear view of all the activities in niche markets. Our team, with thorough global understanding, works relentlessly to gather the necessary market insights, including customer analysis, competitions and global forecast.

Find out more about our services at: www.scalarmarketresearch.com

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