ID: MRFR/ICT/5376-HCR | February 2021 | Region: Global | 100 pages
Market Synopsis of Global Internet of Everything (IoE) Market Research Report
Internet of Everything (IoE) is an emerging technology comprising a broader scope by which every devices and products are connected through Internet. At present, IoE is at nascent stage and are likely to used in various application that include digital sensors, remote appliances, connected mobile devices, machine learning systems, and others
Emerging technologies such as big data, IoT are creating a significant impact on the world economy. In the year 2017, the market has witnessed more than 27 billion, out of which 4.3 billion and 5.2 billion connected devices comprises commercial & industrial sector and consumer electronics sectors. These numbers are likely to presumed to be rising with the commendable growth rate owing to rising investment of technological giants, advanced computing technologies that has transformed the information and communication (ICT) sectors across the economies. Thus, rise in number of connected devices are driving the Internet of Everything (IoE) market during the forecast period. Furthermore, rising cloud computing infrastructure services, emergence of disruptive technologies such as artificial intelligence, Big data analytics are also some of the driving forces of the IoE market.
Lack of reliable network infrastructure need for high speed connectivity, security, and privacy concerns are some of the barriers for the IoE market growth. However, increased investment to develop high IoT platforms are considered to high potential areas where the market is likely to count on during the assessment period. Furthermore, improving congestion management and reducing carbon emissions, smart city applications are some other new revenue streams for the IoE market. Also, predictive maintenance, self-optimization, automated inventory management are some of the other forefront uses cases of the IoE market.
Globally, the Internet of Everything (IoE) market is gain a significant market growth with a CAGR of 19.5% during the forecast period 2018-2023.
The IoE market is broadly classified into component, network technology, application, and end user.
Based on component, the IoE market is segmented into hardware, software, and services. The services categorized into professional services and managed services. The services further categorized into consulting services, implementation services and others.
The network technologies segregated into Wi-Fi, Bluetooth, cellular technologies,802.15.4, GPS/GNSS, NFC devices & tags, RFID tags (active & passive), low-power wide area network (LPWAN), fixed line, satellite, other wireless technologies. Furthermore, the market is categorized into application areas namely connected car, smart home, wearable computing & mobile devices, smart cities & buildings, smart metering, and others. Lastly, based on end-user, government, retail, BFSI, healthcare, IT & telecom, manufacturing, energy & utilities, transportation & logistics, and others.
Since the global Internet of everything (IoE) market is a fusion of ecosystems comprising Internet of Things, people and process. Therefore, companies include are application providers, communcation providers, platform providers, and others.
Some of the key players include Cisco System Inc (US), AT& T Inc. (US), Nokia Corporation (Finland), Juniper Networks (US), Ericsson AB (Sweden), Huawei Technolgies Co Ltd.(China), SAMSUNG (South Korea), Robert Bosch AG (Germany), Koninklijke Philips N.V (Netherlands), Qualcomm (US), Infineon Technolgies (US), Texas Instruments (US), SAP SE (France), Amazon Web Services (US), and Other incumbent companies.
Some other new age companies that also gained a significant market share in the IoE market include Nest Labs (US), Mesh systems LLC (US), ThinxNet GmbH (Germany), Sigfox (France), Cloudera (US), resin.io (US), IOTA computing Inc.(US), and other new age companies.
The geographical analysis of global Internet of everything (IoE) market is studied for North America, Europe Asia-Pacific and the rest of the world.
Europe region is expected to be the fastest growing Internet of Everything (IoE) market. The market growth is due to the presence network giants and increasing adoption Narrowband IoT modules and applications. Additionally, the North America is expected to be the leading region in the market share in the global Internet of everything market and likely to be remain the dominating region during the forecast period. The market growth in the due to advanced network infrastructure and increased IoT expenditure among the leading industrial giants. However, the Asia-Pacific region is expected to gain a gradual growth. The market growth is attributed to rapid development of building efficient-network infrastructure and reducing cost MEMS sensors is likely to gain pace for the market growth.
Frequently Asked Questions (FAQ) :
SAMSUNG (South Korea), Robert Bosch AG (Germany), Huawei Technologies Co Ltd.(China), Koninklijke Philips N.V (Netherlands), Qualcomm (US), Texas Instruments (US) and Infineon Technologies (US) are the competitive variables of the market.
A 119.5% CAGR development is expected to be visible in the market.
The European region is predicted to shape the market considerably in the forthcoming period.
The rise of connected devices is expected to outline the development path of the market in the future.
The increased applications in smart city projects are expected to provide a thrust to the market in the impending period.