Today, IoT is a billion-dollar market and is growing continuously. There are various drivers that are supporting the Internet of Things market growth. Industrialization, the concept of smart cities, automation, smart manufacturing, smart communication, and several others are key parts of the IoT that help the market grow.

IoT helps companies achieve the maximum efficiency with which they have been working, helps countries maximize their communication systems, and provides a seamless experience by offering advanced and latest technologies.

Concepts of smart homes where an individual can control the smart appliance from any place on earth with a smartphone is only be achieved through the help of IoT, where all the appliances have smart sensors deployed in it and are connected to the information grid.

A study shows that by the end of 2020, there will be more than 30 billion devices connected to the information grid and the market size will be double the size of PCs, smartphones, connected cars and the wearable market.

The global IoT market is expected to grow with a CAGR of ~ 19.75%, and is expected to grow US ~ 2488 Billion by the end of 2022.

Key Players:

Amazon Web Services (U.S), AT&T Inc. (U.S), Cisco System Inc. (U.S), Google Inc. (U.S), Oracle Corporation (U.S), , Dell Inc. (U.S), Microsoft Corporation (U.S), Hitachi Data Systems (U.S.), Huawei Technologies Co. Ltd. (China) – International Business Machines Corporation (IBM) (U.S) among others, are some of the prominent players profiled in MRFR analysis and are at the forefront of competition in the global Internet of Things market. A wide range of benefits and growing application areas such as IT & Telecom, Retail, Healthcare, Manufacturing, Automotive, Connected Logistics and others are some of the major driving factors of the IoT market.

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