Internet of Everything Market : Worldwide Industry Analysis and New Market Opportunities Explored

Rapid advancements in internet in which smart devices can communicate with each other by sending and receiving data through network connectivity have given rise to disruptive technology termed as “Internet of Everything” (IoE). The term IoE is a superset of machine to machine (M2M) communication and internet of people (IoP).

M2M communication technology is typically used in remote monitoring of connected machines and to turn them into intelligent assets. Key components included in M2M communication technology are intelligent sensors, radio-frequency identification (RFID), cellular network, and connectivity platforms.

The Internet of people is a term that includes all the electronic systems and devices that connect to internet and communicate data with end-users inputs.

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The global IoE market was valued at US$ 2,426.8 billion in 2013 and is expected to reach US$ 7,130.4 billion by 2020, reflecting a CAGR of 16.4% during forecast period, 2014 - 2020. In 2013, connected IoE devices represented 10.2% of overall IoE installation base across globe.

In terms of components, the global IoE market can be sub-segmented into intelligent system, infrastructure enablement spending and services enablement spending. Among all the previously mentioned B2B IoE components, intelligent system segment is the most dominant. Valued at US $1,524.5 billion, this segment is forecasted to expand at a CAGR of 15.1% from 2014 to 2020.

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The global IoE market has been classified into seven major regions which include North America, Western Europe, Asia-Pacific, Japan, Eastern Europe, Latin America and Middle East & Africa. Of all the regions, North America dominated the global IoE market with over 1/3rd of overall IoE market share in 2013; the IoE market in North America is expected to expand at a CAGR of 14.3% during the forecast period.

Some of the key players identified in global IoE market are IBM Corporation, Cisco Systems Inc., Apple Inc., Vodafone Group Plc., Accenture Inc., Google Inc., Telefonica S.A., Hewlett-Packard Company and Samsung Electronics Co. Ltd. These key players follow the strategy of acquisition and mergers to gain market share and enter new markets.

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This release was published on openPR.