Internet of Things Market By Type (Hardware, Software, Service), By Software (Data Management, Security, Analytics, Communication, Other Software), By Service (Consulting, Implementation & Integration, Operation Management & Others), By Deployment Model (On-Premise, Cloud-Based), By End-User Vertical (Consumer Vertical & Others), By B2B Vertical (Public Sector, Retail, BFSI, Healthcare, Manufacturing, Energy & Utility & Others) - Growth, Share, Opportunities & Competitive Analysis, 2016 - 2023

IoT has become a mainstream technology in the IT industry, utilized to connect all the smart objects over an integrated network through internet. This enable end-users to control and monitor connected devices and process in real-time. Broadening application areas of IoT technology especially in healthcare, automotive and transportation sectors boosting the market growth across the globe. Additionally, rising deployment of digital solutions to transform existing business process to connected one demand for IoT hardware, solution and services is projected to increase over the forecast period. In contrast, threats associated with data privacy and security is impeding the uptake of connected devices to certain extent. This, in turn is hampering growth of the Internet of things market.

Report Scope

This report analyzes the global Internet of things market in terms of type, software, service, end-user vertical, and geography. The global internet of things market has been segmented based on type into hardware, software and service. The software segment is further sub-segmented into data management software, security software, analytics software, communication software, and other software. Based on services, the market is bifurcated into consulting, implementation & integration, operation management, repair & maintenance and other services. On the basis of end-user vertical, the global internet of things market is segmented into consumer vertical and B2B vertical. The B2B vertical segment is further sub-segmented into public sector, retail, BFSI, healthcare, manufacturing, energy & utility, IT & telecom, and transportation sectors. The global internet of things market covers major geographies such as North America, Europe, Asia Pacific, and Rest of World.

1.1 Report Description

Purpose of the Report

The purpose of this strategic research study titled “Global Internet of Things Market - Growth, Share, Opportunities, and Competitive Analysis, 2016 – 2023” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the global Internet of things market.

Target Audience

• Industry Investors
• IoT Solution and Service Providers
• Communication Hardware Providers
• End-users

USP and Key Offerings

The report titled “Global Internet of Things Market- Growth, Share, Opportunities, and Competitive Analysis, 2016 – 2023” offers strategic insights into the global Internet of things market along with the market size and estimates for the duration 2014 to 2023. The said research study covers in-depth analysis of multiple market segments based on type, software, service, end-user vertical, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading Internet of things hardware and service providers, their SCOT (Strength, Challenges, Opportunities, and Threats) analysis, market positioning, and key developments. Other in-depth analysis provided in the report includes:

• Current and future market trends to justify the forthcoming attractive markets within the Internet of things market
• Market fuelers, market impediments, and their impact on the market growth
• In-depth competitive environment analysis
• Ecosystem Analysis
• SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global Internet of things market, offering market size and estimates for the period from 2014 to 2023, keeping in mind the above mentioned factors.

On the basis of service, the global Internet of things market is categorized into following sub-segments:

• Consulting
• Implementation & Integration
• Operation Management
• Repair & Maintenance
• Other Service

Their contribution to the global Internet of things market in 2015 and 2023 is as shown in the figure below.

Among services, the implementation and integration was the largest sub-segment, constituting over 40% of the overall market in 2015. Demand for implementation & integration services is rising at a significant rate as end-users verticals are increasingly deploying smart machines, intelligent systems and smart sensors. Additionally, the operation management service sub-segment is anticipated to exhibit fastest growth in terms of revenue over the forecast period. This is growth is mainly driven by growing digitization of business process across large and mid-sized enterprises across major end-user verticals.

On the basis of software, the global Internet of things market is categorized into following sub-segments:

• Data Management
• Security
• Analytics
• Communication
• Other Software

The contribution of aforementioned software sub-segments to the global Internet of things market in 2015 and 2023 is as shown in the figure below

As of 2015, security software was the largest sub-segment among all types of software in the global Internet of things market, accounting for 1/3rd of the overall segment revenue. Additionally, the sub-segment is expected to remain dominant over the forecast period. Growing threat of cyber-attacks is encouraging major end-users especially BFSI and telecom sectors to deploy advanced security software. Further, communication software is projected to expand at the highest CAGR from 2016 to 2023 driven by ongoing advancements and innovations in networking technologies and rising adoption of LTE and small cell technology across the globe.

On the basis of geography, the global Internet of things market is segmented into following regions and countries.

• North America
  • U.S.
  • Canada
• Europe
  • United Kingdom
  • France
  • Germany
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Rest of Asia Pacific
• Rest of the World
  • Latin America
  • Middle East and Africa

The contribution of these regions (North America, Europe, Asia Pacific, and RoW) to the global Internet of things market in 2015 is as shown in the figure below

In 2015, North America was the largest regional market with more than 30% market share, followed by Asia Pacific. In North America, U.S. is a major market for IoT hardware, solutions and service provides. Major end-user industries such as manufacturing and public sectors in the country are increasingly investing in IoT technologies and solutions to improve business productivity and citizen services. However, the market in Asia-Pacific is expected to grow at a fastest CAGR owing to introduction favorable government initiative supporting deployment of IoT technologies in manufacturing, energy & utility and public sectors. Additionally, Asia Pacific is projected to surpass North America in terms of revenue by 2023.