Internet of Things (IoT) Services Market to Exhibit a CAGR of over 24% till 2021
Rising demand for connected devices across various sectors
and increasing internet penetration to drive demand for Internet of Things
(IoT) services through 2021
According to
TechSci Research report, “Global
Internet of Things (IoT) Services Market
By Type, By Application, By Region, Competition Forecast & Opportunities, 2011 - 2021”, global IoT services market
is projected to exhibit a CAGR of over 24% during 2016-2021, on account of growing cloud computing services
market, rising government initiatives for development of smart cities, coupled
with increasing number of connected devices that generate large amount of data.
Moreover, Internet users across the globe were 3.14 billion in 2015, and this is estimated
to surpass 3.29 billion by 2016. Furthermore, global smartphone user
base is projected to increase from 1.89 billion in 2015 to 2.12 billion by
2016. Growing internet and smartphone user base, coupled with rising need for
analytics for exponentially growing volumes of data to drive global IoT
services market through 2021.
Browse 65 market data Tables and 102 Figures
spread through 215 Pages and an in-depth TOC on "Global Internet of Things (IoT) Services Market"
https://www.techsciresearch.com/report/global-internet-of-things-iot-services-market-by-type-professional-and-managed-services-by-application-manufacturing-healthcare-smart-homes-and-buildings-smart-cities-etc-by-region-competition-forecast-and-opportunities/805.html
North America
dominated global IoT services market in 2015, and the region is further
anticipated to continue its dominance in the coming years as well, owing to rising
demand for smart homes & buildings, and presence of various IoT service providers
in the region. Moreover, manufacturing sector dominated global IoT Services
market in 2015, and this trend is further expected to continue during the
forecast period, on account of growing government efforts towards Industrial
IoT (IIoT), growing need for industrial automation, coupled with rising need
for cost-cutting in manufacturing sector.
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“Rising demand
for intelligent transportation systems, growing adoption of bring your own
device concept (BYOD) concept, increasing demand for industrial internet of
things (IIoT), etc., are projected to boost growth in the global market for IoT
services in the coming years. Additionally,
rising adoption of Internet of things (IoT) technology across various including
manufacturing, healthcare, smart homes & buildings, smart cities, etc., is
projected to augur well for global IoT services market. Use of IoT technology
requires integration of managed IoT services at each layer of IoT ecosystem,
which would further pump growth in global IoT services market through 2021.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Global Internet of Things (IoT) Services Market By Type, By
Application, By Region, Competition
Forecast & Opportunities, 2011 - 2021” has evaluated future growth
potential of global Internet of Things (IoT) services market and provides
statistics and information on market size, structure and future market growth.
The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment evaluation. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global Internet of Things (IoT) services market.
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