Market Research Future published a research report on “Connected IoT Devices Market Research Report – Global Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
The connected IoT devices are gaining momentum in recent times with the increasing demand for mobile applications. Upon this, Market Research Future reveals that the global connected IoT devices market to observe a CAGR of approximately 19% during the forecast period 2017-2023, in its detailed study.
Market Drivers & Trends
The global Connected Iot Devices Market is gaining fast traction due to the prime factor of growing popularity of connected things. It is the rising usage of mobile devices and the ongoing trend of ‘bring your own device’ is also boosting the growth of the market during the forecast period.
Increasing demand for mobile applications and the growing popularity of connected things are other significant factors motivating the growth of the global connected IoT devices market. Additionally, swelling adoption of bring your own device and carry your own device is enhancing the growth of the market. The proliferation of intelligent connected devices is one of the major factors driving the growth of the connected IoT devices market.
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The technology titans such as IBM Corporation, Microsoft Corporation, Oracle Corporation, and PTC Incorporation are some of the major players in the global connected IoT devices market that launched IoT for electronics and ingests device data and transforms that data into meaningful insights. These eventually help in optimizing the processes and along with new guided designs. The IoT for electronics also focuses on controlling and analyzing connected electronics, enhancing product development, and integrating enterprise asset management with IoT devices. These are some other essential factors that are driving the market to earn more valuation during the forecast period.
Connected IoT Devices Market Segmentation:
The global connected IoT devices market is segmented on the basis of the component, deployment, and application. The deployment segment is classified as a private cloud, public cloud, and hybrid cloud. However, the hybrid cloud segment is expected to grow at the highest rate across the globe over the forecast period. The hybrid cloud deployment offers various benefits to the businesses such as providing low-cost solutions, and flexible and scalable access to clients.
Market Research Analysis:
North America is estimated to account for the largest share of the market, whereas Europe market is projected to grow at the fastest rate during the forecast period. The North American market is witnessing a rapid growth due to technological advancements and increasing demand for mobile application development platforms across different industry verticals in this region. The U.S. holds the majority of market share both in terms of revenue as well as the adoption of smart homes and another connected internet of things applications and devices.
Some of the prominent players in the global connected IoT devices market are Advantech Co., Ltd. (Taiwan), Aeris Communication, Inc. (U.S.), Amplia Soluciones (Spain), Cumulocity GmbH (Germany), IBM Corporation (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), PTC Incorporation (U.S.), Smith Micro Software, Inc. (U.S.), Telit Communications PLC (Italy), Wind River Systems (U.S.), Xively (U.S.), Samsung Electronics Co. Ltd. (South Korea), Motorola Inc. (U.S.), Nokia Solutions Network (Finland), LG Corporation (South Korea), Hewlett-Packard (U.S.), HTC Corporation (Taiwan), Apple Inc. (U.S.), Dell Inc. (U.S.) and others.
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