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IoT Infrastructure Market is Anticipated to Record Highest CAGR during 2020 – 2024

Author : Ronak Bora | Published Date : 2020-08-27 

Asia Pacific IoT infrastructure market is expected to witness substantial growth over the forecast timeline. The growth is credited to the growing demand of smart cities across countries such as China, Singapore, India and Malaysia. Increasing penetration of connected devices followed by heavy investments for smart city infrastructure development further contributes to the industry demand.

Since its conception, IoT has been impacting numerous businesses in unprecedented ways than expected. 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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The proliferation of IoT in the home sector has brought about a barrage of changes in consumer standard of living. IoT-enabled homes offer some of the best advantages that can transform a person’s lifestyle across the urban space. Smart devices such as the Nest thermostat, Amazon Echo, smart fridges, Google Home, Wink Relay and Controller, etc., have been popularized across IoT infrastructure market and liberally deployed in smart homes, subject to their incredible benefits such as controlled energy consumption, automated notifications, weather alerts, etc. Fiercely vying with one another to consolidate their positions in IoT infrastructure industry, tech companies have been going the whole hog to introduce highly advanced connected devices for smart homes.

IoT Infrastructure Market is expected to grow at over 25% CAGR to reach over USD 130 billion by 2024. Increasing investments in smart cities across the U.S., China, India, Singapore and UK will drive the IoT infrastructure market growth over the forecast timeline. For instance, the Government of India plans to develop nearly 100 smart cities requiring an investment of over USD 150 billion provides impetus to the industry demand. Rising demand for effective & efficient utilization of resources and meet challenges within city infrastructure, transportation and energy management is expected to fuel the demand.

The deployment of IoT based solutions in cities allows them to wisely use data in order to upgrade the city infrastructure as well as services. Growing demand for water & waste management across the urban areas is expected to drive the IoT infrastructure market growth. Real time sensing of water & drainage operations in a city can be obtained through monitoring equipment such as meters, pressure gauges and wireless networks in a IoT network. Relevant management departments can make use of the data obtained for analysis and making supporting suggestions.

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.

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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. The industry is currently witnessing intense competition owing to the new players entering the market with advanced and innovative set of solutions. Players are currently focusing on enabling sustainability through maintenance and ensuring operational excellence in delivery of infrastructure projects.

Table of Contents (ToC) of the report:

Chapter 4.   IoT Infrastructure Market, By Platform

4.1.  Global IoT Infrastructure industry share by platform, 2016 & 2024

4.2.  Network management

4.2.1. Market estimates and forecast, 2013 - 2024

4.2.2. Market estimates and forecast, by region, 2013 - 2024

4.3.  Device management

4.3.1. Market estimates and forecast, 2013 - 2024

4.3.2. Market estimates and forecast, by region, 2013 – 2024

4.4.  Application management

4.4.1. Market estimates and forecast, 2013 - 2024

4.4.2. Market estimates and forecast, by region, 2013 – 2024

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

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/iot-infrastructure-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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