Internet of Things market growing at a CAGR of 23.4% by 2025

Internet of Things Market valued approximately USD 171 billion in 2017 is anticipated to grow with a healthy growth rate of more than 23.4% over the forecast period 2017-2025. The global Internet of Things (IoT) market is driven by growth of Wireless Networking technologies, rising adoption of cloud platform, and increasing demand for connected devices. Moreover, other factors such as increasing internet and smart phone penetration across the world, increasing demand for smart electronics are fueling growth in the market.

The regional paradigm of global Internet of Things Market is dominated by North America which is currently holding 32% of the total revenue share in 2016. Early adoption of technology in various industry verticals is the primary reason for growth. With these developments, the Internet of Things market in North America has gained a significant share. Furthermore, Asia Pacific region is anticipated to grow with a highest CAGR over the forecast period. Increasing demand for automation by the manufacturing industry and government initiative to develop smart infrastructure are the primary growth drivers in the APAC region..

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The detailed segments and sub-segment of the Internet of Things market are explained below:

By Platform

• Device Management
• Application Management
• Network Management

By Software Solution:

• Real-Time Streaming Analysis
• Security
• Data Management
• Remote Monitoring
• Network Bandwidth Management

By Application Area

• Building and Home Automation
• Smart Energy and Utilities
• Smart Manufacturing
• Connected Logistics
• Smart Retail
• Connected Health
• Smart Mobility and Transportation
• Others.

Some of the key manufacturers involved in the Internet of Things market are Intel Corporation, SAP SE, Cisco Systems, Inc., Microsoft Corporation, Oracle Corporation, International Business Machine (IBM) Corporation, PTC Inc., Google Inc., Hewlett Packard Enterprise., Amazon Web Service, Inc., Bosch Software Innovation, GmbH, General Electric.

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By Regions:

- North America, U.S., Canada

- Europe, UK, Germany

- Asia Pacific, China, India, Japan

- Latin America, Brazil, Mexico

- Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2015

Base year – 2016

Forecast period – 2017 to 2025

Target Audience of the Global Internet of Things Market in Market Study:

1. Key Consulting Companies & Advisors
2. Large, medium-sized, and small enterprises
3. Venture capitalists
4. Value-Added Resellers (VARs)
5. Third-party knowledge providers
6. Investment bankers
7. Investors

Apart from the above-mentioned information, the growth rate of the global Internet of Things market during the forecast period is also explained along with the consumption tables, figures, and statistics of the leading segments.