Worldwide Internet of Things (IoT) Market to Exhibit Substantial Growth and Anticipated to reach $185.9 billion by 2023

Albany, New York, April 25, 2017: Rapid growth of urbanization across the globe is changing the way of using devices and things present in the technological environment. The “Internet of things” (IoT) is becoming an increasingly growing topic of conversation both in the workplace and outside of it. A recent study, focusing on the development of IoT along with its growth trends, has been recently added to the massive portfolio of Market Research Hub’s research offerings section which is titled as “Internet of Things (IoT) Market Shares, Strategies, and Forecasts, Worldwide, 2017 to 2023”. This report provides a comprehensive analysis of Internet of Things (IoT) in different categories, illustrating the diversity of uses for digital tracking devices in the industry, healthcare and consumer markets.

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As per the key findings of the report, increasing usage of the internet along with rising penetration of smartphone users around the world is one of the prime factors behind the positive growth of this industry. In 2016, the worldwide market for Internet of Things (IoT) was $16.3 billion, which is anticipated to reach $185.9 billion by 2023. Additionally, the market is currently being boosted by its growing scope in the field of cloud computing. It has been well recognized that many organizations, governments have benefitted with the emergence of IoT, therefore, it is also called as the next industrial revolution. At present, interaction with the physical world for businesses, government and consumers have become possible with this concept. Some of the major benefits include:

  • Providers of Industrial-IoT aim to implement asset efficiency solutions.
  • Bosch supplies industrial IoT sensor technology, acquiring data from the edge, providing device management.
  • Using IoT and the analytics platform, production engineers are able to stabilize the process even as new product formulations were introduced.
  • The high jump to 40 Gbps and 100 Gbps has come speedily as a result of the growing necessity to increase the quantity of data managed inside the data center with more analytics and more applications.

Worldwide Internet of Things (IoT) markets is poised to accomplish major growth with the use of sensors, cameras and platforms that are used to help implement precision digital control and send alerts for all method or management of devices and machinery. New materials and new designs are bringing that transformation forward for the better response. With this constant innovation, IoT continued growth is assured, finds the study.

Moreover, the report analyzes the global market of Internet of Things which is based its key segments, such as

  • Security and Energy Management
  • Transportation and Self Driving Cars
  • Agricultural IoT
  • Wearable Technology
  • Financial
  • Healthcare
  • Sensor and Computing Configurations
  • Industrial and Manufacturing

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In the later part, the report highlights major players in the IoT market. Some of them include IBM, Amazon, Samsung, Intel, Hewlett-Packard Enterprise, Cisco, Bosch, AT&T, Apple, SAP, Siemens and others.

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