Chicago, IL -- (SBWire) -- 09/26/2016 --According to the report, "Internet of Things (IoT) Market (2014-2022)", the global market for IoT is expected to witness remarkable growth by 2022.
The global Internet of Things (IoT) market concentrates on the key driving and restraining factors for the key industry players. It offers information about the major segments, key players, market share and geographic regions of the market.
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Digitization and smartphone revolution to be the key driving factors:
According to the Internet of Things (IoT) market report, the rapid rise in digitization is the major driving factor for this market. It suggests rising digitization of business models across the small and medium businesses around the world to be a strong growth factor for the market. The introduction of smart cities is also expected to create exciting business opportunities for the key industry players during the forecast period. The report suggests that smartphone revolution and rising number of smartphone buyers, especially across the emerging markets will be a significant driving factor for this market.
North America to dominate the global market based on market share:
The report segments the global market based on the types of services, software, and end-user. It also offers in-depth geographic analysis of the industry, focusing on the Internet of Things (IoT) market share. According to the report, significant investment and rise in the research and development activities are expected to create strong business opportunities for the key players in this market. However, it also suggests data security to become a major restraint for the growth of the industry.
According to the report, North America is expected to be the largest geographic region. Asia-Pacific region is set to become the fastest-growing geographic segment in the market. Growth in demand, advancing technologies and increased investment in the region are expected to be the major driving factors for the market in this particular region. The report suggests that Internet of Things (IoT) market is expected to create potential investment opportunities for the emerging players in the industry.
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The major players analyzed in the global Internet of Things (IoT) market report include Accenture Plc., Bosch Software Innovations GmbH, Cisco System Inc., General Electric, Hewlett-Packard Co., IBM Corporation, Microsoft Corporation, Oracle Corporation, Telefonica S.A., Vodafone Group Plc., and such others.
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Internet of Things (IoT) Market Worth USD 2,995.2 Billion by 2022, at a CAGR of 12.6%
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