Internet of things solutions enables wireless connectivity of devices which is changing the way people live and interact within their environment. Various IoT developments and the meteoric rise of smart devices and cloud based software and apps are transforming nearly every aspect of our lives. The global internet of things market constitute of various wired and wireless technologies such as Radio Frequency Identification (RFID), Near Field Communication, Zigbee, Supervisory Control And Data Acquisition (SCADA) and so on. Various components that are used to establish the internet of things network such as sensors, device gateway, LAN, Router, Switch, Cloud also forms the internet of things market.
• It is expected that globally up to 50 billion ‘smart’ devices, ranging from cars and parking meters to coffee machines and combine harvesters could be connected to the internet by 2021, whereas, in 2010 the number of connected devices was 12.5 billion globally.
• The global internet of things is expected to grow exponentially during the forecasted period of 2015-2021. The market is estimated to reach up to $2620 billion by 2021 growing at a CAGR 13.13% from 2015-2021.
• The major drivers are increasing awareness levels of the consumers for wearable technology and smart home appliances. Industrial & Manufacturing application market is growing at the highest CAGR of 14.27% during 2015-2021. The rising demand for increasing efficiency from the manufacturing industry is the major driving force.
• The Asia Pacific IoT market is expected to grow at the highest CAGR of 18.14% during 2015-2021.
Key Players
1. Alcatel-Lucent S.A
2. AT&T INC.
3. Cisco System Inc.
4. Huawei Technologies CO. LTD
5. Nxp Semiconductors NV
6. International Business Machine Corporation (IBM)
7. Google, INC.
8. Intel Corporation
9. Qualcomm Incorporated
10. Gemalto NV
