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New York, NY, July 27, 2019 (GLOBE NEWSWIRE) – Zion Market Research has released a new report entitled "IoT device market by device type (processor, sensor, connectivity circuit, etc.) for home automation, energy and utilities, manufacturing, connected logistics, BFSI, transport, connected health, etc. .: global badysis of the sector, size, share, growth, trends and forecasts 2016 – 2024 ".
According to the report, the global market for IoT devices was estimated at around USD 31,500 million in 2016 and is expected to reach around USD 158,140 million by 2024. The global Internet of Things (IoT) device market is expected to grow to a CAGR of 23 % between 2017 and 2024.
Browse 74 tables and 38 figures spread across 110 pages and a detailed table of contents on "Global IoT Device Market Size 2016: Industry Share, Growth, Segments, Trends and Forecasts, 2024".
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Report Summary
The rise of wireless networking technologies and the growing adoption of the cloud platform around the world are the key factors that will trigger the growth of the IoT device market. The IoT can badyze the situation in real time and also contributes to better decision-making. This digital transformation will open up new opportunities for many industries and increase the market value of IoT devices.
Overall view
The Internet of Things (IoT) is an ecosystem of connected devices in which electronic devices are connected to the Internet. The sensor is used to communicate, collect and exchange data from one device to another. The accumulated data from these devices can be badyzed to optimize products, services and operations. The concept of IoT can achieve operational efficiency and optimize business processes.
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Abstract
- The report covers forecasting and badysis for the global and regional IoT device market.
- The report includes the positive and negative factors that influence market growth.
- The revenues generated by the main players in the sector were badyzed in the report.
- Market figures were calculated using top-down and bottom-up approaches.
- The IoT device market was badyzed using Porter's Five Forces badysis.
- The market is segmented according to the type of agriculture, the type of software, the type of service, the type of solution and the type of application, which is also divided at the regional level.
- All segments were evaluated based on current and future trends.
- The report discusses in-depth quantitative and qualitative badyzes of the IoT device market.
- The report includes detailed company profiles of the main market players.
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Drivers and constraints
The main factor behind the growth of the Internet of Things (IoT) devices market is the growing adoption of the cloud platform in developing regions. Cloud computing generated revenue of approximately $ 67 billion in 2015 and is expected to grow to $ 162 billion in 2020. IoT Cloud is a platform designed to store and process Internet of Things data. (IoT). The cloud platform provides access to the device manufacturer and service providers for advanced badysis and monitoring. Cost-effective services are another growth driver for cloud adoption in the IoT. It has been estimated that a company can save more than 35% of its annual cost by adopting cloud computing technology. These factors will increase the revenues of the IoT device market in the near future. As a result, the IoT device market will grow with a CAGR of 22.67% between 2017 and 2024.
Reducing the cost of connected devices is an opportunity for the market. The lack of coherence in interconnectivity, interoperability and security is the determining factor in the growth of the IoT device market.
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Segmentation
The sensor segment is expected to record a CAGR of 23.63% from 2017 to 2024. The strong demand for IoT sensors in the transportation sector and the rising industrial IoT market strongly boost the growth of the IoT sensor market . In addition, the growing demand for sensors in wearable technologies and electronics will drive the growth of the sensor segment. There are many types of sensors available, such as temperature sensor, humidity sensor, pressure sensor, flow sensor, accelerometer, magnetometer, touch sensor, and so on. The heart rate segment dominated the market in 2016. The increase in the number of heart diseases worldwide is one of the key factors in the growth of this segment. Heart rate sensors allow individuals to obtain real-time data and track their heart rate from anywhere, at any time. North America represents the largest market share in the heart rate monitor sensor segment.
The smart lock industry is expected to grow at a compound annual growth rate of 23.42% to US $ 4,497.58 million. This is due to increased security and privacy concerns around the world and advances in wireless communication technologies will fuel the growth of the door lock segment. In addition, the increase in consumer disposable income and the increasing need to establish connectivity between all the electronic equipment of the home will increase the revenue of the door locks segment.
The BSFI segment is expected to grow with a CAGR of 25.77% over the forecast period. The Internet of Things (IoT) in Banking, Financial Services and Insurance (BFSI) has created a platform in which the physical, virtual and real world is integrated and where all the points connected interact. Advances in technology and continuous innovation have impacted the operating models and remodeling of the BFSI industry banking system. Given these factors, the industry is expected to be valued at approximately $ 13,589.31 million.
Browse the full "IoT device market by device type (processor, sensor, connectivity IC and others) for home automation, energy and utilities, manufacturing, connected logistics, BFSI, transport, connected health, etc. : Global Sector Analysis, Size, Share, Growth, Trends and Forecasts 2016 – 2024"report to https://www.zionmarketresearch.com/report/iot-devices-market
Actors of the industry
The report includes detailed profiles of the major players in the fashion market. The list of readers compiled in the report is Amazon, Ecobee, Google LLC, Honeywell International Inc., LG Electronics, Inc., Motorola Mobility LLC, Nest Labs, Pebble, Qualcomm Technologies, Inc., Radio Thermostat Company of America, SAMSUNG, Sony Corporation and others.
The major players in the market maintain their competitive edge in the global market by investing in mergers and acquisitions and expanding their product portfolios. On April 24, 2014, Zebra Technologies had acquired Motorola's business unit for $ 3.5 billion. Companies' shared commitment to innovation will help customers leverage advanced technologies such as the Internet of Things (IoT), motion detection and localization, and cloud computing for mobile businesses.
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Segmentation of the global market for IoT devices:
Global IoT Device Market: Device Segment Analysis
- Processor
- Microcontroller (MCU)
- Application Processor (AP)
- Digital signal processor (DSP)
- Sensor
- Heart rate sensor
- Pressure sensor
- Temperature sensor
- Moisture sensor
- Camera module
- Other
- IC connectivity
- Others (memory device and logical device)
Global IoT Device Market: Product Type Segment Analysis
- Refrigerators
- Lighting system
- Door locks
- Thermostats
- Glbades
- Smart Trackers Bluetooth
- Connected cars
- Radar
- Fitness and heart rate monitor
- Other
Global IoT Device Market: Application Segment Analysis
- Home automation and building
- Energy and utilities
- Manufacturing
- Connected Logistics
- BFSI
- Transport
- Connected health
- Other
Global IoT Device Market: Analysis of Regional Segments
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East and Africa
- GCC Countries
- South Africa
- Rest of the MEA
- Latin America
- Brazil
- Rest of Latin America
About us:
Zion Market Research is an obligated enterprise. We create futuristic and cutting-edge informative reports ranging from industry reports to corporate reports to country reports. We provide our clients with not only market statistics revealed by private publishers and recognized public organizations, but also up-to-date and up-to-date reports, as well as profiles of leading and niche companies. Our database of market research reports includes a wide variety of cardinal industry reports. Our database is constantly updated to provide our customers with fast and direct online access to our database. Keeping in mind the needs of our customers, we have included in this database expert information on industries, products and market trends of the world. Last but not least, we make it a point to ensure the success of the customers who are connected to us, after all, if you succeed, a little light illuminates us.
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