Internet of Things (IoT) Market Growing at 33.3% CAGR to 2021 Driven by Evolution of High Speed Networking Technologies

The internet of things (IoT) market size is estimated to grow from $157.05 billion in 2016 to $661.74 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 33.3% from 2016 to 2021. This growth is driven by factors such as development of cheaper and smarter sensors, rising adoption of cloud computing, evolution of high speed networking technologies, and increasing penetration of connected devices. Rising need for operational efficiency and increasing penetration of connected devices are driving the Internet of things (IoT) market. Complete report on internet of things (IoT) Market spread across 154 pages, profiling 10 companies and supported with 65 tables and 47 figures is now available at .

Services segment is estimated to grow at the highest CAGR during the forecast period due to the increasing penetration of connected devices and higher adoption of IoT solutions across industry verticals. Managed services segment is expected to grow at the highest rate between 2016 and 2021. Due to the increasing technological adoption, Asia-Pacific (APAC) is projected to witness the fastest growth rate among regions.

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants among other experts to obtain and verify critical qualitative and quantitative information as well as to assess future market prospects. Distribution of primary interviews is as follows:

> By Company Type: Tier 1- 20%, Tier2-42%, and Tier 3-38%

> By Designation: C-Level-55%, Director Level-26%, and Others*-19%

> By Region: North America-47%, Europe-32%, and Asia-Pacific-21%

Note: *Others include sales managers, marketing managers, and product managers

The tier of the companies is defined on the basis of their total revenue, as of 2015: Tier 1 = >USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion and Tier 3 = <USD 1 billion

The latest trends in IoT include growing IoT integration across different industry verticals, diversification of IT giants toward providing analytics and security software, and cost benefits of predictive maintenance. The availability of cloud deployment options for IoT solutions has further provided a huge opportunity.

The key vendors of the internet of things (IoT) market profiled in this report are IBM Corporation, Cisco Systems, Inc., SAP SE, PTC, Inc., General Electric, Oracle Corporation, Microsoft Corporation, Symantec Corporation, Amazon Web Services and Bosch Software Innovation. Priced at $4650 for a single user PDF, Inquire Before Buying on “Internet of Things (IoT) Market by Software Solution (Real-Time Streaming Analytics, Security, Data Management, Remote Monitoring, & Network Bandwidth Management), Platform, Service, Application Domain, and Region - Global Forecast to 2021” research report can be requested at .

On a related note, another research titled Digital Asset Management Market Global Forecast to 2020 says, the global Digital Asset Management (DAM) market to grow from USD 1.42 billion in 2015 to USD 5.36 billion by 2020, at a CAGR of 30.4%. Asia-Pacific (APAC) is expected to become one of the major adopters of DAM solutions by 2020. Companies like Opentext Corporation, Oracle Corporation, Adobe Systems Incorporated, Hewlett-Packard (HP), ADAM Software NV, IBM Corporation, EMC Corporation, Cognizant Technology Solutions Corp, Northplains Systems and Widen Enterprises have been profiled in this 162 pages research report available at .

Explore more reports on Information Technology & Telecommunication market at .

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