As per the report by Global Market Insights, Inc., “Worldwide IoT Infrastructure Market was valued USD 15 billion in 2016 and will surpass a revenue collection of USD 130 billion by 2024 with an annual growth rate of 25% up to 2024.”
IoT Infrastructure Market growth will be driven by rising demand for water & waste management in cities. The solutions can be implemented to sense the water supply & drainage operations of a city in real-time through various wireless networks, pressure gauges and monitoring equipment including meters. These data on water supply & drainage can be provided to the relevant management departments in order to analyze the information and make supporting suggestions.
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The deployment of IoT based solutions in cities allows them to wisely use data in order to upgrade the city infrastructure as well as services. Growing demand for water & waste management across the urban areas is expected to drive the IoT infrastructure market growth. Real time sensing of water & drainage operations in a city can be obtained through monitoring equipment such as meters, pressure gauges and wireless networks in a IoT network. Relevant management departments can make use of the data obtained for analysis and making supporting suggestions.
The Internet of Things, conceived back in the 1980s at the Carnegie Mellon University, has now metamorphosed into a prodigy that defines efficiency, sustainability, and convenience. The deployment of this concept in infrastructure is likely to open up a plethora of opportunities for construction companies, real estate developers, technology behemoths, and infrastructure development firms, that would strive to brainstorm numerous solutions for connected infrastructure, augmenting IoT infrastructure market trends. An IoT related report by a research firm claims close to 1.40 billion IoT units to be shipped ahead for smart city projects by 2020, for smart homes, smart buildings, smart transportation, sustainability and climate change.
Sensors integrated in the devices enable seamless transfer and data exchange in a IoT network. Miniaturization trend coupled with the advancements in the sensor technology helps the manufacturers integrate various functionalities on a single chip. Functionalities include lighting systems, monitoring as well as security. Enormous volume of data is generated from these sensors which require collection and analysis for upgrading the processes. Rising demand for connectivity solutions such as cellular technologies, Wi-Fi and NFC for communication between the devices lies impetus to the connectivity technology segment growth in IoT infrastructure market.
North America IoT infrastructure market is expected to retain highest revenue share over the forecast timeline. This is attributed to the advanced infrastructure followed by rising number of smart city and building projects undertaken by the government across the region. Increasing demand for smart cities in countries such as China, India & Singapore will drive the Asia Pacific IoT infrastructure market growth. Rising investments for the development of smart cities infrastructure coupled with the increasing penetration of connected devices further contributes to the industry growth.
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Companies operating in the IoT infrastructure market include Intel Corporation, Schneider Electric, Microsoft Corporation, Huawei Technologies Ltd., IBM Corporation and Cisco Systems, Inc. Honeywell International Inc., SAP SE, Oracle Corporation, Accenture PLC and PTC Inc. etc. The industry is fragmented in nature with the entry of new players with innovative and advanced set of solutions. Rising depletion of energy sources worldwide escalates the demand for efficient management of energy and power sources resulted in increased R&D investments by the major industry players, contributing to the IoT infrastructure market growth.
Glimpse of Table of Content (ToC)
Chapter 3. Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry ecosystem analysis
3.3.1. Component suppliers
3.3.2. Software providers
3.3.3. Technology providers
3.3.4. Service providers
3.3.5. System integrators
3.3.6. Vendor matrix
3.3.7. Distribution channel analysis
3.4. Technology & innovation landscape
3.5. Regulatory landscape
3.6. Industry impact forces
3.6.1. Growth drivers
188.8.131.52. Advanced infrastructure in the U.S. and European countries
184.108.40.206. Increasing demand for effective utilization of energy sources in the U.S.
220.127.116.11. Growing demand for automation in office buildings in the U.S.
18.104.22.168. Government initiatives across North America & Asia Pacific
22.214.171.124. Increasing demand of smart cities in India and Singapore
126.96.36.199. Rising demand for water & waste management in China
188.8.131.52. Increasing penetration of connected devices across India & China
184.108.40.206. Increasing adoption of cloud platform in UK & Germany
3.6.2. Industry pitfalls & challenges
220.127.116.11. Data security & privacy concerns
18.104.22.168. High implementation cost
22.214.171.124. Lack of standards and regulations
3.7. Growth potential analysis
3.8. Porter’s analysis
3.9. Company market share analysis, 2016
3.9.1. Strategy dashboard
3.10. PESTEL analysis
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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