Internet of Things (IoT) Market Growth 2017-2025

Deployment Across Different Domains to Boost the IoT Market
By the year 2020, it is estimated that there will be 30 billion devices connected to the Internet. The
possibilities will be truly limitless if all these connected devices such as smartphones, smart homes,
smart grids, and smart vehicles could seamlessly communicate with each other. Persistence Market
Research has conducted an exhaustive study on the global IoT Market in its report ‘Internet of
Things (IoT) Market: Global Industry Analysis 2012-2016 and Forecast 2017-2025’ as the IoT
Market is on the cusp of transforming society and industry. The IoT market is expected to witness
an exponential CAGR of 21.5% during the eight-year study period and be valued at just over US$
260 Bn by the year 2025.
North America is the largest region in the IoT market and is a market opportunity approaching US$
100 Bn by the end of the forecast period. However, APAC accounts for a slightly higher CAGR and
key stakeholders in the IoT market would do well to take this into consideration while devising their
investment strategies.
The IoT Analytics and IoT Sensor segments are estimated to hold the maximum share of the IoT
market by component in 2017. Nonetheless, IoT Data Transport and IoT Platform are widely
considered to be the future of the IoT market as both are poised to grow by a CAGR in excess of
25%, making them critical in the long term.
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The Smart Grid and Wearable Computing Devices application segments have a market
attractiveness index of 5 and 4.6 respectively and companies would be highly recommended to
focus on these two in the IoT market. Wearable computing in particular is anticipated to become
critical as continuous innovations bring this technology to the forefront of public consciousness and
make it mainstream.
Energy and Utility and the Government are sectors that should gain the most from the IoT market in
the form of smart grids and smart cities respectively. Even Manufacturing is likely to benefit from
the impending IoT market boom and will grow to nearly US$ 90 Bn by the end of the study period.
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Persistence Market Research has profiled some of the most prominent companies active in the
global IoT market. The companies featured in the report include IBM Corporation, Microsoft
Corporation, AT&T, Apple, Google, General Electric, Samsung Electronics Co., Comcast
Corporation, Intel Corporation, Cisco Systems, Oracle Corporation, Hewlett Packard Enterprise,
Fujitsu Limited, Qualcomm Technologies, Honeywell International, Accenture PLC, ARM
Limited, Amazon Web Services, SAP SE, Zebra Technologies, and Texas Instruments.
IoT can be effectively deployed across industries making the potential of the IoT market unlimited.
The U.S military deploys IoT technology to assist their combat troops in warfare; retail stores allow
customers to alter shopping lists in real time and also enable the linking of retail apps with physical
stores. Electricity suppliers and travel agents have installed smart sensors to detect downtimes and
transportation routes respectively. The food industry uses sensors to inform the system about the
optimum temperature to keep food fresh. The IoT market has a bright future ahead of it.
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