-- IoT infrastructure market, one of contemporary niche verticals of the building construction and infrastructure development sphere, now holds the reputation of being encompassed among the many IoT influenced business spheres. The proliferation of the Internet of things in infrastructure development has led to the procreation of smart homes and cities, touted as a revolutionary phenomenon of the 21st century. With the rising demand for connectivity to enable smart security, social surveillance, smart transportation, energy safety, smart metering, and efficient governance for enhancing consumer lifestyle, IoT infrastructure industry is likely to garner much acclaim in the ensuing years. Estimates compiled in a recent IoT infrastructure market research report forecast this business space to have accumulated a valuation of close to USD 15 billion in 2016.
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Growth drivers
• Advanced infrastructure in the U.S. and European countries
• Increasing demand for effective utilization of energy sources in the U.S.
• Growing demand for automation in office buildings in the U.S.
• Government initiatives across North America & Asia Pacific
• Increasing demand of smart cities in India and Singapore
• Rising demand for water & waste management in China
• Increasing penetration of connected devices across India & China
• Increasing adoption of cloud platform in UK & Germany
Rising demand for customized services to manage the systems in IoT network will drive the professional service segment growth in IoT infrastructure market. Professional service providers with technical expertise provide end-to-end services and deploy the technological solutions in order to increase the operational efficiency. Furthermore, increasing adoption professional services by the users to reduce the total cost of ownership contributes to the segment growth. Increasing government initiatives for smart cities across China, India and Singapore offers opportunities to the service providers to invest in these markets.
In addition, the growing trend of governments supporting the use of IoT across the industrial verticals globally is anticipated to drive the growth of IoT infrastructure market. For instance, Indian government announced an investment of USD 1.6 million toward setting up five IoT incubation centers by 2020 accompanied with the latest gadgets and instruments using the technology. Additionally, the increasing internet speeds and the advancing networking infrastructure across the world are projected to boost the demand for the IoT infrastructure market.
The rising demand for sensors in improving security, quality of life, convenience, and cost-saving nature of the smart cities has propelled the demand for the IoT infrastructure market. For instance, sensors used for automated temperature regulation in smart homes enable cost-saving measures for the users by turning off the air conditioning systems in the absence of users. The rising demand for communications technology is projected to have a high demand for the IoT services owing to advanced connectivity solutions provided by technologies such as Wi-Fi, wireless Bluetooth, and near-field communication.
The Asia Pacific region including China, India, and Japan is anticipated to have a significant growth in the IoT infrastructure market owing to the rising government initiatives in the region for the smart city projects. IET India IoT panel for Clean Ganga project uses the technology for the detection of trash in cleaning the rivers. Countries including the U.S., the UK, Germany, and France have a high demand for the IoT infrastructure industry owing to the rising adoption of the technology and high urbanization trends.
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Companies in the IoT infrastructure market include: Microsoft Corporation, Intel Corporation, Schneider Electric, IBM Corporation, Huawei Technologies Ltd., Cisco Systems, Inc., SAP SE, Oracle Corporation, PTC Inc., Accenture PLC and Honeywell International Inc.
Some Points From Table Of Content: -
Chapter 5. IoT Infrastructure Market, By Technology
5.1. Global IoT Infrastructure industry share by technology, 2016 & 2024
5.2. Sensor
5.2.1. Market estimates and forecast, 2013 - 2024
5.2.2. Market estimates and forecast, by region, 2013 – 2024
5.3. RFID
5.3.1. Market estimates and forecast, 2013 - 2024
5.3.2. Market estimates and forecast, by region, 2013 – 2024
5.4. Connectivity technology
5.4.1. Market estimates and forecast, 2013 - 2024
5.4.2. Market estimates and forecast, by region, 2013 - 2024
5.5. Others
5.5.1. Market estimates and forecast, 2013 - 2024
5.5.2. Market estimates and forecast, by region, 2013 – 2024
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