Will IoT Market Perceive Robust Expansion by 2025?

Big Data and Fog Computing New Technologies in IOT Market

The proliferation of interconnected networks and the explosion of data volumes across smart homes and smart grids in different industries has been in large part due to the mushrooming of devices, particularly mobile devices. Data integration from various cyber, social, and physical resources within the IOT market enables the development of apps and services that can incorporate situational decision making mechanisms and create enhanced services along with smarter applications. Fog computing is another new technology similar to edge computing in the IOT market. Fog computing is quite likely to support the IOT market and can exist in data centers, the cloud, or even edge devices such as routers, gateways, sensors, etc.

Cloud Analytics Slowly Shifting Towards Edge Computing in IOT Market

Edge computing is a relatively new concept in the IOT market compared to cloud analytics. In the case of edge computing, data is processed near the source instead of in the cloud. Edge analytics is currently at a developmental stage but can still be successfully implemented in large IOT deployments because of the handling of large data volumes. The factors benefiting widespread edge computing adoption are better data security, latency reduction, and lesser connectivity issues. Many vendors in the IOT market are launching edge analytics solutions to attract more clients and expand their product portfolio. In April 2017, Microsoft Corp. launched the IoT Central service to manage the enterprise IoT ecosystem. IoT Central allows enterprises to launch new products and is a part of SaaS.

Request Sample: https://www.persistencemarketresearch.com/samples/17734

By the year 2020, it is estimated that there will be 30 billion devices connected to the Internet. The possibilities will be truly limitless if all these connected devices such as smartphones, smart homes, smart grids, and smart vehicles could seamlessly communicate with each other. Persistence Market Research has conducted an exhaustive study on the global IoT Market in its report ‘Internet of Things (IoT) Market: Global Industry Analysis 2012-2016 and Forecast 2017-2025’ as the IoT Market is on the cusp of transforming society and industry. The IoT market is expected to witness an exponential CAGR of 21.5% during the eight-year study period and be valued at just over US$ 260 Bn by the year 2025.

Region – North America and APAC Critical in the IoT Market

North America is the largest region in the IoT market and is a market opportunity approaching US$ 100 Bn by the end of the forecast period. However, APAC accounts for a slightly higher CAGR and key stakeholders in the IoT market would do well to take this into consideration while devising their investment strategies.

Download TOC: https://www.persistencemarketresearch.com/market-research/iot-market/toc

Component – Data Transport and Platforms the Future in the IoT Market

The IoT Analytics and IoT Sensor segments are estimated to hold the maximum share of the IoT market by component in 2017. Nonetheless, IoT Data Transport and IoT Platform are widely considered to be the future of the IoT market as both are poised to grow by a CAGR in excess of 25%, making them critical in the long term.

Application – Smart Grids and Wearable Computing Extremely Attractive in the IoT market

The Smart Grid and Wearable Computing Devices application segments have a market attractiveness index of 5 and 4.6 respectively and companies would be highly recommended to focus on these two in the IoT market. Wearable computing in particular is anticipated to become critical as continuous innovations bring this technology to the forefront of public consciousness and make it mainstream.

Industry – Energy and Utility and Government Primary Target in the IoT Market

Energy and Utility and the Government are sectors that should gain the most from the IoT market in the form of smart grids and smart cities respectively. Even Manufacturing is likely to benefit from the impending IoT market boom and will grow to nearly US$ 90 Bn by the end of the study period.

Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.

To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

305 Broadway,7th Floor
New York City, NY 10007
United States
+1-646-568-7751
+1 800-961-0353 (USA-Canada Toll free)
Email: sales@persistencemarketresearch.com
Website: https://www.persistencemarketresearch.com

This release was published on openPR.