Increasing demand for cloud computing is expected to drive the IoE market during the forecast period
Meridian Market Consultants (MMC) has published a new report titled, “Internet of Everything Market: Opportunity Analysis and Future Assessment 2019 to 2027”
Global Internet of Everything Market, by component (Hardware, Services (Professional Services, Managed Services), & Software), By Technology (Wifi, Bluetooth, Cellular Technologies, GPS/GNSS, NFC Device & Tags, RFID Tags (Active & Passive), LPWAN, Fixed Line, Satellites, Other Wireless Technologies), By Application (Connected Car, Smart Home, Wearable Computing & Mobile Devices, Smart Cities & Buildings, Smart Metering, Others), By End User (Government, Retail, BFSI, Healthcare, IT & Telecom, Manufacturing, Energy & Utilities, Transportation & Logistics, Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a double digit CAGR for the period between 2019 and 2027.
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As per the report, internet of everything can be defined as a network of embedded computing devices which connect with the help of internet. Presently, IoE is at introduction stage in terms of product life cycle, and expected to be used in various industries and application such as, in healthcare industry IoE can be used in various medical devices. Similarly, it can be used in digital sensors and mobile devices and various other different applications.
Increasing demand for smart sensors and smart devices in various industries such as automotive, healthcare, fintech and others is one of the major factor which is expected to boost the market in the near future. The development in robotization of assembling and operational procedures over the mechanical part has supported the interest for smart sensors and gadgets. Also, upgrading Internet of Everything (IoE) segment suppliers to think of cutting edge sensors, frameworks, and answers for meet client desire. For example, in 2016, ABB Ltd. in collaboration EM Microelectronic built up a keen sensor equipment that is utilized to change customary engines into a smart sensors. It enables operators to get regular reports with respect to working states of the motor and scheduled repair and maintenance.
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Furthermore, Meridian Market Consultants (MMC) Study identifies that, in 2018, North America is accounted to hold the largest market share in comparison to other. Owing to availability of advanced technology and availability of key players in the market.
On the basis of component, the internet of everything market is segmented into Hardware, Services, & Software. In 2018, software segment accounted to hold largest market share in terms of revenue and expected to maintain same during the forecast period, due to the high demand of software in internet of everything mainly for the network connectivity, data analytics, management and automation, security, management of connectivity and others. Furthermore, internet of everything is gaining interest of both large and medium sized enterprises which is also one of major factor that is expected to drive the growth of IoE around the globe
MMC Study identifies some of the key participating players in Internet of Everything market globally are Cisco System Inc., AT& T Inc., Nokia Corporation, Juniper Networks, Ericsson AB, Huawei Technolgies Co Ltd., SAMSUNG, Robert Bosch AG, Koninklijke Philips N.V., Qualcomm, Infineon Technolgies, Texas Instruments, SAP SE, Amazon Web Services, and others.
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