Connected Devices Market to Grow at 5.34% CAGR Driven By Embedded Processors to 2020
Connected devices market report analyze embedded processing is at the heart of the IoT. Local processing capability is provided by microcontroller units (MCUs), hybrid microcontrollers/microprocessors (MCUs/MPUs) or integrated MCU devices, which can provide the real-time embedded processing required for most IoT applications.
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A significant factor that fosters growth in the connected devices market is the high-energy efficiency of products like smart TVs, smart home appliances, smart thermostats, and connected bulbs. Due to the high efficiency of such devices, governments across the globe are encouraging their adoption. This increased adoption of smart devices will result in market growth during the forecast period. The analysts forecast global connected devices market to grow at a CAGR of 5.34% during the period 2016-2020.
Complete report on connected devices market spread across 80 pages, profiling 6 companies and supported with 12 data exhibits is now available at http://www.reportsnreports.com/reports/461245-global-connected-devices-market-2016-2020.html.
The advent of the Open Wi-Fi Movement will spur growth in this connected devices market during the estimated period. OpenWireless.org is a cyber-activist group that seeks to increase internet access by encouraging people and organizations to share their unused data by installing software that will transform their wireless router into a wireless access point. The adoption of this initiative is expected to reduce connectivity-related issues across the globe and will result in the increased adoption of connected devices during the predicted period.
According to the connected devices market report, organizations, industries, and technologists are adopting the IoT concept due to its vast possibilities and numerous advantages. These advantages are also prompting consumers to buy more devices that can connect to each other in a network and share information. Order a Single User License Copy of Global Connected Devices Market 2016-2020 Report at http://www.reportsnreports.com/Purchase.aspx?name=461245.
Product-based Segmentation of the Connected Devices Market – Computing devices, Media players, Wearables, Smartwatch, Smart band, Smart glasses, Smart clothing, Wireless printers, Smart meters, Smart cameras, Connected bulbs, Smart locks, Smart thermostats and Smart home appliances
Connected devices market analysts have estimated the smart locks segment to exhibit the highest market growth rate during the forecast period. Smart locks allow users to control access by using a phone, wireless key fob, or even remotely over the internet.They are also the key components in smart homes, which are growing in number across the globe. The ability of these devices to allow users to control access using their smartphones in an easy and cost-efficient manner will result in this connected devices market segment’s impressive growth rate of more than 91% until 2020.
Geographical Segmentation of the Connected Devices Market
Connected devices market research analysts have estimated that the APAC region will account for the largest share of the market by 2020. The increasing construction of smart homes in regions like Japan, China, and South Korea will foster the need for connected devices, such as smart thermostats and smart home appliances, during the forecast period.
Competitive landscape and key vendors
The global connected devices market is highly fragmented due to the presence of numerous small and large vendors. The providers in this market compete on the basis of product price, quality, innovation, service, reputation, distribution, and promotion to gain maximum market shares during the estimated period.
The top vendors analyzed in this connected devices market are Samsung, Apple, Lenovo, LG, Honeywell, and Microsoft.
Other prominent vendors in the market include Pace, Technicolor, Google, Sony, Nintendo, Canon, Epson, HP, Siemens, Pebble, Fitbit, Xiaomi, ODG, Recon Instruments, Vuzix, Whirlpool, Electrolux, Nest Labs, Schneider Electric, Philips, KISI, and August.
Further, the report states that security is a prime concern of consumers when considering buying connected devices.
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