Global Internet of Things market is expected to grow at a CAGR of 24.7% during 2016-2021. Internet of Things market is segmented on the basis of Infrastructure, Verticals and Applications. IoT brings different physical objects to be linked by a common network. IoT market is split into various major segments such as Analytics, Security, Cloud, Mobile Technologies and Platforms. Integration, Automation and Cloud Computing are major driving forces behind IoT market. The issues such as Security and Privacy are major hindrance in this market. The IoT market caters to every sector from Retail, Energy, Healthcare to Infrastructure. Smart Home, Wearable’s and Smart cities are the most potent and high growth applications in IoT market.
IoT Security is estimated to be the fastest growing segment in this overall market. The key market players in this market such as Intel, Microsoft, Cisco, Google and IBM are constantly focusing on Innovation and technological advancement. New product launch, collaboration, partnership, acquisition and mergers are key strategies opted in this market.
North America is the largest market followed by Europe and Asia Pacific Market. Asia Pacific is expected be fastest growing market followed by North America. North America is home to largest companies in terms of revenue which includes Intel, Microsoft, Cisco, Google, IBM and other major companies. High growth markets such as India and China is expected to push IOT market forward.