Market Definition: IoT Solutions Market
The Global IoT Solutions Market was valued at USD 160.8 million in 2017 and is expected to reach USD 553.9 million in 2025, growing at a healthy CAGR of 29.7% for the forecast period of 2019 to 2026.
IoT solutions help business with critical operations that require integration of system sensor, gateway and cloud solutions. It also provides connectivity, user experience and analytics solutions. The IoT solutions provide fleet & asset management for real-time tracking of assets using sensor interfaces. Small and medium businesses are adopting IoT solutions to increase the scalability and efficiency of their businesses, hence creating opportunities for software solution vendors.
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Major Market Drivers & Restraints are as follows:
- Expansion of wireless networking technologies
- Boom of advanced data analytics and data processing
- Reduction in cost of connected devices
- Enabling technologies for IoT
- Smart home and smart car innovations using IoT solutions
- Data security and privacy concerns
- Interoperability and lack of common standards
- Difficultly in integration among hardware, software, and services
Key Market Competitors: IoT Solutions Market
Few of the major competitors are Maven Systems Pvt., Ltd., Accton Technology Corporation, SAP SE, Hortonworks Inc., Accenture, Tego Inc., Symboticware Inc., Gemalto, Alcatel-Lucent S.A., Mnubo Inc., Zebra Technologies, AT&T Inc., Datamatics Global Services, Google, Inc., Jasper, Samsara, Awair Glow, Arrayent, Tata Communications Ltd., and many more.
The report gives the details about market trends, future prospects, market restraints, leading market drivers, several market segments, key developments, key players in the market, and competitor strategies. This market report puts light on various aspects of marketing research that range from important industry trends, market size, market share estimates, sales volume, emerging trends, product consumption, customer preferences, historic data along with future forecast and key player analysis. Under competitive analysis section, major key players existing in the market are mentioned along with various details such as company profiles, their market share analysis, and their different strategies which make them thrive in the market.
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Market Segmentation: IoT Solutions Market
- Hardware Platform
- Analytic Software
- Web Security
- Network Security
- Database & Cloud Security
- Email Security
- Managed Service
- Professional Service
- Oil & Gas
- Other End Users
- North America
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The global IoT solutions market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cybersecurity as a service market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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