IoT Infrastructure Market to grow at 25%+ CAGR to 2024

North America IoT Infrastructure Market is expected to retain highest revenue share over the forecast timeline.

Sellbyville, United States – June 28, 2019 /MarketersMedia/ —

The size of IoT infrastructure market is forecast to value at around USD 130 billion by 2024. Advancements in smart technologies across the world are projected to propel the demand for the market. Smart infrastructure enabled by the IoT can help in dealing with the expanding population requirements, safety concerns, environmental strains, traffic management, and others. For instance, if a car emitting harmful effluents is idling at a traffic signal, IoT-enabled traffic signals may turn the traffic light green, provided the intersection at the signal is clear.

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Increasing investments by the governments for smart cities across the world are driving the IoT infrastructure market. In South Korea, IoT-enabled smart sensors reduced the building expenditure by 33% by monitoring the average electricity and water usage. The implementation of smart lights in houses is driving the demand for the market owing to their cost-effective measures in saving electricity by automatically turning off the lights in a room by sensing the absence of any user in that room.

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 market owing to the rising adoption of the technology and high urbanization trends.

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.

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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 market.

High initial costs, data security & privacy concerns, and the reluctance of deploying IoT solutions are some of the factors hampering the growth of the IoT infrastructure market. For instance, data hacking of smart devices for malicious intent could create many small-scale nuisances such as buses arriving late or a parking meter unable to accept payment. There can be large-scale implications such as hacking of important data stored on the IoT servers. These insecurities have made infrastructure players apprehensive of using the technology.

Browse key industry insights spread across 140 pages with 154 market data tables & 12 figures & charts from the report, “IoT Infrastructure Market Size By Platform (Network Management, Device Management, Application Management), By Technology (Sensors, RFID, Connectivity Technology), By Component (Hardware, Software [Data Management, Streaming Analytics, Security, Remote Monitoring, Bandwidth Management]), By Service (Professional Service, Managed Service), By Application (Smart Cities, Smart Buildings, Smart Homes), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, South Korea, Malaysia, Singapore, Australia, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/iot-infrastructure-market

Table of Contents (ToC) of the report:

Chapter 3. Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry ecosystem analysis
3.3.1. Component suppliers
3.3.2. Software providers
3.3.3. Technology providers
3.3.4. Service providers
3.3.5. System integrators
3.3.6. Vendor matrix
3.3.7. Distribution channel analysis
3.4. Technology & innovation landscape
3.5. Regulatory landscape
3.5.1. U.S.
3.5.2. EU
3.5.3. China
3.6. Industry impact forces
3.6.1. Growth drivers
3.6.1.1. Advanced infrastructure in the U.S. and European countries
3.6.1.2. Increasing demand for effective utilization of energy sources in the U.S.
3.6.1.3. Growing demand for automation in office buildings in the U.S.
3.6.1.4. Government initiatives across North America & Asia Pacific
3.6.1.5. Increasing demand of smart cities in India and Singapore
3.6.1.6. Rising demand for water & waste management in China
3.6.1.7. Increasing penetration of connected devices across India & China
3.6.1.8. Increasing adoption of cloud platform in UK & Germany
3.6.2. Industry pitfalls & challenges
3.6.2.1. Data security & privacy concerns
3.6.2.2. High implementation cost
3.6.2.3. Lack of standards and regulations
3.7. Growth potential analysis
3.8. Porter’s analysis
3.9. Company market share analysis, 2016
3.9.1. Strategy dashboard
3.10. PESTEL analysis

Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/iot-infrastructure-market

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