Lewes, DE -- (SBWire) -- 06/17/2016 --Report forecast the IoT market in Nordic region to grow at a CAGR of 15.11% during the period 2016-2020.
IoT is a network of tangible objects that are interconnected and can communicate among themselves as well as with the internal and external environments. It connects hardware devices, embedded software, communication services, and IT services. It creates smart communication environments such as smart homes, smart shopping, smart transportation, and smart healthcare. It is an emerging ecosystem of Internet protocol (IP)-connected devices with the potential to deliver business benefits valued at trillions of dollars in the future across varied industries.
The report covers the present scenario and the growth prospects of the IoT market in Nordic region for 2016-2020. To calculate the market size, the report considers the following:
- Revenue generated from the connectivity services offered for IoT connected devices, which are used in various industries, including consumer electronics, retail, healthcare, automotive, and utilities
- Revenue realized from IoT platforms, applications, licenses, and support and maintenance services
- Consolidated revenue of mobile network operators (MNOs), mobile virtual network operators (MVNOs), and mobile virtual network enablers (MVNEs) in terms of IoT services and solutions
- Revenue generated by IoT managed service providers and Internet service providers (ISPs)
The market is divided into the following segments based on geography:
- Sweden
- Norway
- Denmark
- Finland
According to the report, a key growth driver is the low price of connected devices. IoT connects billions of devices and sensors to develop innovative applications. IoT communication primarily connects various devices, such as smartphones, laptops, and tablets, with people and systems. This connection also helps send data to the centralized server through networks such as wireless local area network (WLAN), radio frequency identification (RFID), and Bluetooth. These sensors have become an integral part of M2M or IoT communications in many applications, including smart homes, connected cars, connected health, and precision agriculture.
Further, the report states that one challenge that could restrict market growth is the lack of standardization as it hinders the large-scale commercial use of IoT. In the IoT network, standardization is necessary for the technical and application layers.
IoT Market in Nordic Region 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
key players in the IoT market in Nordic region: Ericsson, Tele2, Telenor Group, TeliaSonera, and Tieto.
Other Prominent Vendors in the market are: Accenture, Cisco Systems, Gemalto, Huawei, IBM, Intel, Nordic Semiconductor, Novatel Wireless, Orange Business Services, PTC, Qualcomm, SAP, Sierra Wireless, Wipro, and Wireless Matrix (CalAmp).
Market driver
- Reduced prices of connected devices
- For a full, detailed list, view our report
Market challenge
- Lack of standardization
- For a full, detailed list, view our report
Market trend
- Rise in adoption of IoT in supply chain management
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 73 pages and 36 Exhibit "IOT Market in Nordic 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by industry vertical, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Appendix.
For more information Visit at: http://www.marketresearchreports.com/technavio/iot-market-nordic-2016-2020
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