Report Code : AFT1002
2016-2024
Global Internet of Things (IoT) Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-
2024
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Global Internet of Things (IoT) Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024
Global Internet of Things Market Outlook
Market Overview:
According to our global internet of things market outlook report “Disruptive
technologies: Advances that will transform life, business, and the global
economy“, the Internet of things (IoT) is one of the top three technological
advancements of the next decade (together with the mobile internet and the
automation of knowledge work).
Healthcare (16%) and manufacturing (16%) acquire the major section of
Internet of Things (IoT) followed by insurance (12%), banking & securities
(11%), computing service (8%), government (7%), transportation (6%), utilities
(5%), real estate (4%), agriculture (4%) and others (3%) contributes to Internet
of Things (IoT) value add of USD 1.9 trillion by 2020.
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internet-of-things-iot-outlook-2024-global-opportunity-and-demand-analysis-
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Market Segmentation:
By Components
Internet of Things (IoT) Devices
Non-wearable Devices
Wearable Devices
Internet of Things (IoT) Platforms
Connectivity/M2M Platforms
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Global Internet of Things (IoT) Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024
Infrastructure-as-a-Service (Iaas) Backend Platforms
Hardware specific software Platforms
Consumer/Enterprise Software Extension Platforms
IoT Sensors & Actuators
By Internet of Things (IoT) Software
Data Management Software
Network Management Software
Security Software
Remote Monitoring Software
Real Time Streaming Analytics Software
By IoT Application
Smart Homes (e.g. smart thermostats, connected lights, smart
appliances, smart door locks)
Wearables (e.g. smart watch, activity tracker, smart glass)
Smart City (e.g. smart parking, smart waste management)
Smart Grid (e.g. smart metering)
Industrial automation (e.g. remote asset control, workforce
monitoring)
Connected car (e.g. remote car control)
Connected Health (e.g. Tele-medicine)
Smart Retail (e.g. smart mirrors)
Smart Supply Chain (e.g. RFID Trackers)
Smart Agriculture (e.g. smart watering systems)
By End-User
Consumer Electronics Sector
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Global Internet of Things (IoT) Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024
Transportation & Logistics Sector
Energy Sector
Manufacturing Sector
Healthcare Sector
Agriculture Sector
Retail Sector
Others (Education Sector)
Impact Analysis (%) of Connectivity Technologies on IoT Market
Cellular Connectivity Technology
Wi-Fi Connectivity Technology
Bluetooth Connectivity Technology
GNSS/Location Connectivity Technology
NFC Connectivity Technology
Powerline Connectivity Technology
By Region
North America (U.S., Canada) Internet of Things Market
Adoption rate (%) of IoT Technology
No. of Connected Devices
Competitive Outlook (Major Players)
Impacting factors (Macroeconomic & Microeconomic factors)
Growth Drivers & Restraints
Asia Pacific (China, Japan, India, Singapore, South Korea, Australia,
New Zealand and ROAP) Internet of Things Market
Adoption rate (%) of IoT Technology
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Global Internet of Things (IoT) Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024
No. of Connected Devices
Competitive Outlook (Major Players)
Impacting factors (Macroeconomic & Microeconomic factors)
Growth Drivers & Restraints
Europe (UK, Germany, France, Italy, Spain, Hungary, Russia, Poland,
Sweden, Netherlands and ROE) Internet of Things Market
Adoption rate (%) of IoT Technology
No. of Connected Devices
Competitive Outlook (Major Players)
Impacting factors (Macroeconomic & Microeconomic factors)
Growth Drivers & Restraints
Latin America (Brazil, Mexico and ROLA) Internet of Things Market
Adoption rate (%) of IoT Technology
No. of Connected Devices
Competitive Outlook (Major Players)
Impacting factors (Macroeconomic & Microeconomic factors)
Growth Drivers & Restraints
Middle East and Africa (GCC, North-Africa, South Africa) Internet of
Things (IoT)
Adoption rate (%) of IoT Technology
No. of Connected Devices
Competitive Outlook (Major Players)
Impacting factors (Macroeconomic & Microeconomic factors)
Growth Drivers & Restraints
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Global Internet of Things (IoT) Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024
Market Size and Forecast(2016-2024)
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.
Global internet of things market size was USD 591.7 billion in 2014 and
growing at the pace of 17.0% forecasted to reach USD 1.3 trillion by the end of
2024. 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% between 2014 and 2020, to reach USD 4.5 billion.
According to our research, IoT has the potential to support total service
spending of more than USD 250 billion in the year 2016.
There are significant regional variations between more established markets,
such as Europe, North America and Oceania, where M2M’s share of total
connections exceeds the global average, and rapidly developing markets, such
as Asia, which have experienced annual growth of 55% a year between 2010
and 2013. M2M connections as a share of total connections is an indicator of
M2M market maturity. The top four markets worldwide by this measure in
2013 were Sweden (23%), Norway (15%), New Zealand (14%) and Finland
(11%).
IBM would invest USD 3.0 billion over the next four years into internet of
things division. According to the Cisco study, there is the possibility for USD 14
trillion profits for the next two decades.
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Global Internet of Things (IoT) Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024
Market Drivers:
IoT has dynamic control of Industry and daily life by providing better
relationship b/w human and nature, also contributing in forming an
intellectual entity by integrating human society and physical systems.
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 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.
With the recent wave of network enhancements (e.g., ongoing LTE
deployments, small cell networks) and rising penetration of cellular
connections across the globe is expected to accelerate the growth of IoT
market.
Risks Factors:
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.
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Global Internet of Things (IoT) Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024
Key Findings:
The flagship product, Mindwave, is a headset that can log into your computer
using just your thoughts. Moreover, IoT helps in life logging activities.
Today scientists uses Yottabytes to describe how much the government data
the NSA and FBI have on people together. However in the near future,
Brontobyte will be the measurement to describe the type of sensors data that
will be generated from IoT.
Google’s ongoing projects: Google Glass
Waze: An intelligent traffic management and GPS navigation tool.
Nest: Smart Thermostat and smoke alarm
Open Automotive Alliance (OAA): An android operating system for
automobiles.
IoT Market Opportunities:
Privacy and security were seen as the key technical building blocks needed.
Potential solutions can be helpful to protect the data and privacy by providing
legal authorities, technical control, social ethic and market self-regulation.
5G is the promising technology to deliver on IoT opportunities like robotics
and autonomous vehicles.
Verizon is going mainstream by entering in agricultural sector, measuring
soil and moisture conditions to enhance plant quality, lower the operating
costs and increase crop value.
LTE is being evolved to scale up the performance and mobility and scaling
down complexity and power. For instance, LTE Cat-M1 (eMTC) and LTE Cat-
NB1 (NB-IoT), these two technologies will be merged by Qualcomm.
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Global Internet of Things (IoT) Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024
With IoT, you don’t need to go online because your environment is already
there serving you, so if we don’t need to be online than IoT will eliminate the
Internet online.
EMV technology is hardly new and has been widely used across Europe and
Asia, providing criminals with 10 years of head start to work around the chip,
therefore new methods of authentication for e-commerce transactions will be
required to curb the losses.
According to our Goldstein Research, fleet management in transportation,
security and surveillance applications in government, inventory and warehouse
management applications in retail and industrial asset management in primary
manufacturing will be the hottest areas for IoT growth.
Fraud prevention approaches now require solutions which can extend to
mobile and cloud environments, make greater use of behavioral analytics, and
take advantage of integrated threat intelligence capabilities to protect users
and data.
With the market of more than 300 million electric, water and gas meters in
service in the US today, the opportunity for intelligent solutions and services in
the utilities market is massive.
There are three core sectors of IoT: Enterprise, Home and Government.
Whereas, enterprise IoT being the largest of three and estimated to account for
nearly 40% or 9.1 billion devices in 2016.
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Global Internet of Things (IoT) Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024
Key Players:
IBM
Synopsis
Business Strategy
Product Portfolio
SWOT Analysis
Intel
Microsoft
Cisco
Ericsson
Qualcomm
PTC Inc.
Accenture PLC
Amazon.com Inc.
Hewlett Packard Enterprise
International Business Machine
Verizon (Networkfleet, GridWide, Verizon Share, hum and Intellegent Track
and Trace)
NXP Semiconductors
EIP-AGRI
Empatica (Embrace)
Philips (Respironics and SleepMapper)
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Global Internet of Things (IoT) Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024
Scope Background
Market Synopsis
Market Segmentation
The Global Internet of Things (IoT) market is segmented as follows:
By Components Type (Market Size, Demand Analysis and Growth
Analysis)
By Software Type (Market Size, Demand Analysis and Growth Analysis)
By Application Type (Market Size, Demand Analysis and Growth
Analysis)
By End-user Type (Market Size, Demand Analysis and Growth
Analysis)
By Regions
North America (U.S., Canada) {Market Size, Growth Analysis and
Opportunity Analysis}
Latin America (Argentina, Mexico, Brazil and Rest of Latin America)
{Market Size, Growth Analysis and Opportunity Analysis}
Europe (Germany, Italy, Spain, France, The U.K., Netherlands,
Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth
Analysis and Opportunity Analysis}
Asia-Pacific (China, India, Singapore, Japan, Australia, New Zealand,
South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and
Opportunity Analysis}
Middle East and North Africa (MENA) {Market Size, Growth Analysis
and Opportunity Analysis}
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Global Internet of Things (IoT) Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024
Market Dynamics: Growth Drivers, Restraints and Opportunities
Risk Factors
Regional Variations
Recent Trends and Developments
Key Market Players
Synopsis
Business Strategy
Product Portfolio
SWOT Analysis
Porter’s Five Force Model
Market Landscape: Competition and Beyond
Global Internet of Things Market outlook for business players and entry level
players to ascertain their business in dynamic ecosystem
Expert Analysis
Concluding Remarks
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Global Internet of Things (IoT) Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024
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Our mission is simple: to develop insightful business solutions, help our clients
make powerful future decisions to keep them well ahead of the game which is
the market, and leave a mark across businesses and communities through our
well-defined ideas and clear cut forecasts.
Published By: Goldstein Research
Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com
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Global Internet of Things (IoT) Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024
+1-646-568-7747
+1-437-886-1181
+44-203-318-6627
+91-120-473-0422, +91-844-785-9968
[email protected] www.goldsteinresearch.com
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Office No:- 504, 5th Floor, C-51, BSI Business Park,Sector-62, Noida, PIN:- 201301India
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