Information Communication and Technology Reports Internet of Things (IoT) Industry Research Report

Internet of Things (IoT) Market is expected to grow from USD
170.57 billion in 2017 to USD 561.04 billion by 2022
According to a new market research report " Internet of Things (IoT) Market by Software Solution (Real-Time
Streaming Analytics, Security Solution, Data Management, Remote Monitoring, and Network Bandwidth
Management), Service, Platform, Application Area, and Region - Global Forecast to 2022” ", published by
MarketsandMarkets™, The IoT market size is expected to grow from USD 170.57 Billion in 2017 to USD 561.04
Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 26.9% from 2019 to 2022.
The major forces driving the IoT market include the adoption of cloud Platform as a Service (PaaS). Moreover, the
advent of advanced data analytics and data processing is also fueling the growth of the IoT market, as advanced
analytics and data processing are useful in deriving results from the high volumes of data collected using the
machine-to-machine communication.
Browse and in-depth TOC on “Internet of Things (IoT) Market”
60- Tables
48 - Figures
162 - Pages
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Major Key Companies
The major vendors in the IoT market include Google Inc. (US), Hewlett Packard Enterprise (US), Amazon Web
Services (US), Bosch Software Innovation GMBH (Germany), General Electric (US), Intel Corporation (US), SAP SE
(Germany), Cisco Systems Inc. (US), Microsoft Corporation (US), Oracle Corporation (US), International Business
Machine (IBM) Corporation (US), and PTC Inc. (US).
Industry Segmentation:
The IoT market consists of things or objects that are connected to the internet, i.e. anything can be accessed
anytime and from anywhere. It comprises integrating sensors and devices into everyday objects that are
connected to the internet over fixed and wireless networks. The fact that the internet is present everywhere
makes mass adoption of this technology more feasible. Given their size and cost, the sensors can be integrated
easily into homes, workplaces, and public places. This process enables objects to connect and manifest themselves
over the internet. In addition, in IoT, any object can be a data source. IoT is not a revolutionary or innovatory
concept. It is an evolutionary perception, equivalent to the evolution on the networking technologies of the
present (internet, service platforms, and wireless).
The Internet of Things (IoT) Market is segmented on the basis of software solutions, services, platforms,
application areas, and regions. The software solution holds the largest market size among all the other segments,
owing to the increase in development of cloud-based applications and adoption of cloud for storage of data. The
service segment is categorized into professional services and managed services. The application area segment is
segmented into building and home automation, smart energy and utilities, smart manufacturing, connected
logistics, connected health, smart retail, smart mobility and transport, and others (education and agriculture).
IoT applications in Smart Energy and Utilities, Smart Manufacturing, Building and Home Automation and Smart
Retail drive the growth of IoT market
Smart Energy and Utilities
The IoT in energy and utilities means the deployment of IoT solution in power generation industry. The solutions
are primarily aimed at achieving convergence of machines and intelligent data to enhance the operational