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2016-2024
Global Internet of Things (IoT) Market Outlook 2024: Global Opportunity & Growth Analysis, 2016-2024
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Executive Summary Fig: 1-2 Global IoT Market Share(%), By Region-2016-2024
Fig: 1-1 Global IoT Market Size USD (Billion). 2016-2024
XX%
CAGR: (2016-2024)
4% 12% 24%
2016
35%
5% 13% 30% 2024
25%
25% 2015e
2016f
2017f
2018f
2019f
2020f
2021f
2022f
2023f
North America
Source: Goldstein Research
In 2016,
Europe
Asia-Pacific
Latin America
Middle East & Africa
Source: Goldstein Research
IoT Devices accounted for the highest market share XX % among IoT components in global IoT Market
Fig: 1-3 Global IoT Market Share(%), By Components-2016
15% 35%
27%
IoT Devices
50%
IoT Platforms
With
XX% share in 2016, North America region dominated the collective Global IoT market
Fig: 1-4 Global IoT Market Share(%), By Software2016
8% 11% 16%
Fig: 1-5 Global IoT Share(%), By Application-2016
Data Management S/W
38%
Network Management S/W Security S/W Remote Monitoring S/W
Sensors and Actuators
27%
Real Time Streaming Analytics S/W
Cons umer Elect ro nics Sector Transp ortation & L ogistics Sec tor Energy Sector Manufact ur ing Sec tor Retail S ecto r Health care Sector Others (Education Sector) Agric ult ure Sector
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Key Findings In 2016, IoT devices dominated the market; IoT devices segment accounted for nearly XX% of the total IoT market and remaining XX% went for platforms and sensors & actuators. The main reason for this despaired share is due to the rising demand for IoT market trend owing to the ease of data management and real time monitoring. However, as the internet related technology is on rise (especially in developing countries), the Europe IoT market is projected to reach USD XXXX million in 2024 from USD XXXX million in 2016, registering a growth rate of XX%. In addition to that, North America IoT market touched USD XXXX million in 2016 and rising demand for IoT software and solutions in the region is expected to accelerate the market to USD XXXX billion by the end of 2024 As a result, if seen from the big market point of view, IoT devices demand is higher in consumer electronics followed by other transportation, manufacturing, energy, retail and healthcare facilities. Moreover, the rising IT expenditure in Europe on the back of new industrial/commercial reforms and rising investment in IT and AI sector is expected to bolster the growth of IoT in Europe region With USD XXXX million in 2016, consumer electronics has the highest demand followed by manufacturing, transportation, energy, retail, healthcare, education and agriculture sector. The advancement in IoT devices are encouraging the hospitals and logistics to adopt the advanced devices to obtain accurate and robust data. The precise data would further help the target user to provide better facilities Further, increasing spending by government authorities on research and development of innovative and advanced IoT technology along with rising internet penetration are some of the major reasons behind the spiked growth of Asia-Pacific & Africa IoT market
Growing IT Technology
Rising internet penetration
Rising Adoption of Smartphone
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Adoption Rate (%) of IoT Technology Europe
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North America
2016
XX %
XX %
2024
XX %
XX %
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Declining cost of sensors
Increasing Investment in IT & Cloud
Major Players Presence-Regional Analysis
Major Players/ Industries
North America
APAC
Europe
Latin America
Middle East & Africa
IBM Google Intel Microsoft Cisco Ericsson Qualcomm PTC
High Penetration Source: Goldstein Research Copyright
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Medium Penetration
Low Penetration Sample Request
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ROW
Global IoT Market Size (USD Billion) & Growth Analysis Fig:- 4-1 Global IoT Market Size (USD Billion)-2016-2024
Fig:- 4-2 Global IoT Market Y-O-Y Growth (%) Analysis-2016-2024 XX
XX
XX%
XX
XX
XX%
XX
XX%
XX
XX
XX%
XX
XX XX%
XX
XX%
XX
XX%
XX
XX
XX
XX XX
XX%
XX
XX
XX% XX%
XX% XX% XX% XX% XX%
XX%
XX%
XX%
XX
XX% XX%
XX
XX%
2015
XX
2015
2016
2017
Source: Goldstein Research
2018
2019
2020
2021
2022
2023
2024
2016
2017
2018
2019
2020
2021
2022
2023
Source: Goldstein Research
Europe IoT market is anticipated to expand at a compound annual growth rate of XX% during the forecast period i.e. 2016-2024. Further, IoT devices sales increased from XXXX units in 2015 to XXXX units in 2016 Large companies like Dell have begun to aggressively open IoT divisions and innovation labs. There have also been a range of IoT acquisitions including Google acquiring Nest and Intel acquiring Basis. In addition, innovative IoT startups, such as IoT cloud-platform provider Electric Imp and smart plug maker Zuli, have received a combined $70 million in funding It is sensitive to the economic cycle, as sales in most IoT device markets declined due to the 2009 global economic downturn. However, rising IT and AI investments in major countries in Asia-Pacific such as China, Japan, Australia and others are expected to trigger the demand for IoT devices and services market Copyright
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2024
Market Dynamics
Growth Drivers
Growth Barriers
Increasing investment Increasing adoption of “remotes�, especially smartphones, tablets and phablets
Increasing cyber threats
Lack of efficiency in realtime algorithm
General Trend
Highly Complex
Moderately Complex
Waived
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Impact Analysis (%) of Connectivity Technologies on Global IoT Market Key Factors Wi-Fi technology dominated the global internet of things ( IoT) market in 2016 and this technology is anticipated to impact majorly on the internet of things (IoT) market in near future
Cellular XX% Power line XX%
Wi-Fi XX% Impact Analysis (%) of Connectivi ty
NFC XX%
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Provides secure connection with software defined networking by scanning and securing the devices at network entry point Moreover, GNSS/Location technology is also one of the technology which hugely impacts the market of internet of things (IoT) by rising the adoption rate of smart devices.
Bluetooth XX% GNSS/Loca tion XX%
Drivers of Wi-Fi Technology
Cellular technology is expected to impact the global internet of things (IoT) market by XX% by the end of the forecast period i.e. 2016-2024. The increasing number of cellular connections along with smart phone users across the globe are the two major factors which creates the internet of things (IoT) ecosystem Most of the healthcare facilities are connected through the personal wi-fi for the better operation of various departments simultaneously in order to carry out the variety of operations. www.goldsteinresearch.com
Global IoT Market Share(%) - By Component,2016-2024 Key Findings
Fig: 6-1 Global IoT Market Share, By Component, 2016-2024
20% 2016
20%
IoT Devices
50%
Asia-Pacific IoT platform services market is expected to expand at a CAGR of XX% during the forecast period i.e. 2016-2024. Modernization of lifestyle and penetration of internet among the population in India, China, Japan and other major economies along with the rising awareness towards IOT advantages are propelling the demand for IoT Market 2024
IoT Platforms
30%
Advancement in every devices by implementing internet of things and artificial intelligence technologies tends to enhance the design and test functionality of devices. Enhancement in design and portability of IoT devices are driving the growth of IoT market
50%
30%
IoT Platforms tends to dominate the market by XX% of market share owing to the mature market of the IoT devices and increasing demand of advanced solutions
Sensors and Actuators
Source: Goldstein Research
Fig: Fig: 6-3 6-3 Global Global IoT IoT Market Market Y-O-Y Y-O-Y Growth, Growth, By By Component, Component, 2016-2024 2016-2024
Fig: Fig: 6-2 6-2 Global Global IoT IoT Market Market Size Size (USD (USD Billion), Billion), By By Component-2016-2024 Component-2016-2024
XX
XX XX
XX
XX
XX
2015
2016 IoT Devices
IoT Platform
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2016e
2017f
2018f
2024 Sensors and Actuators
2019f Y-o-Y
Source: Goldstein Research
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2020f
2021f
2022f
2023f
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