Internet of Things Market Outlook 2024 | Insights, Trends, Demand & Competitors Analysis

By the year 2020 each person will own an average of 7 connected devices in the communications. In the automobiles 8.7 million cars had internet access which has now grown to 23.6 million in 2016. Industrial segment tends to see the annual growth rate of 30% due to increase in machine to machine connection.
According to the Cisco, in 2008 number of things connected to Internet was greater than the population residing on earth, by 2020 number of things connected to internet will be about 50 billion. The installed base of internet of things tends to grow from USD 9.7 billion in 2014 to 25.6 billion in the year 2019, hitting USD 30 billion in 2020. The total market size of digital precision agriculture services is expected to grow at the CAGR of 12.2% b/w 2014 and 2020, to reach USD 4.5 billion. There is development happening in many industries to find a way to diversify products and services. For smart cities, municipalities are looking for ways to become more efficient, and IoT solutions provide several options to save money, improve productivity, and better serve their constituents.
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The high cost of internet of things (IoT) devices and cost associated with the maintenance of IoT ecosystem are the two major risk factors for the internet of things (IoT) market. The technological advancements in telecommunication and internet connectivity are the major growth driver for internet of things (IoT) industry. Moreover, the rising adoption of wearable electronics and affinity for full time connectivity is bolstering the demand for internet of things (IoT).
There major regional variations between established markets such as North America, Europe and Oceania, where total share of M2M's connections exceeds the global average and rapidly developing markets such as Asia, which have which experienced annual growth of 55% a year between 2010 and 2013. M2M connections share of total connections is an indicator of M2M market maturity. By this measure globally top four markets were Sweden, Norway, New Zealand and Finland.
This market report also includes provides competitive outlook of some of the major players of the global electric mattress market which includes profiling of companies of IBM, Google, Intel, Microsoft, Cisco, Ericsson, Qualcomm, Facebook, PTC Inc., Accenture PLC, Amazon.com Inc., Hewlett Packard Enterprise, Verizon etc.
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