IoT in Defence is a rising trend in business intelligence and analytics as the technology is highly appreciated and used globally. However, high costs associated with the implementation of this system in the enterprise hampers the market growth. The government has invested and supported IoT usage in the several developed and the developing regions such as in Asia-Pacific, North America, and Europe.
Seattle, WA -- (SBWIRE) -- 10/22/2019 -- IoT in Defense Market incorporates various tools and services that enable better management of the industry. It includes various activities such as fleet management, health monitoring, inventory management, equipment maintenance, advanced analytics, and others. Furthermore, the major tools used in the global industry include omnichannel commerce solutions, sales, inventory & operations planning, manufacturing & supply chain optimization, quality monitoring, system software development & integration, big data & edge data analytics, and fleet reliability analysis.
IoT in Defense offers better operation & control, material management, energy management, traffic planning, staff & passenger information management, data analytics, and others. Moreover, it offers unscheduled aircraft maintenance, tail allocation, sensory inputs, reliable & secure communications, and cloud application development services.
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The key players operating in the global IoT in Defense market includes Aerovironment, Elbit Systems, Freewave, General Atomics Aeronautical Systems, Honeywell, Radisys, Textron Systems, Northrup Grunman, Prox Dynamics, Track 24. These players have expanded their market presence by adopting various business strategies such as acquisition, geographical expansion, product development, strategic alliance, and collaboration.
Global IoT in Defense Market Segmentation:
The global IoT in Defense market is segmented based on component, connectivity technology, application, and geography. Based on component, it is categorized into hardware, software, and services. Based on connectivity technology, it is divided into cellular, Wi-Fi, satellite communication, radio frequency identification (RFID), and others. Based on application, it is classified into real time fleet management (RTFM), training & simulation, health monitoring, equipment maintenance, health monitoring, inventory management, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
North America generated the highest revenue in the global market in 2016, owing to technologically equipped infrastructure, high adoption of Internet of Things (IoT), and growth in demand for IoT in Defense tools. Moreover, Asia-Pacific is expected to grow at the highest CAGR, owing to rise in demand for the technological upgrade in Defense sector from India and China.
Market segment by Application:
Market segment by Type:
Infrastructure and Equipment Monitoring
Military Personnel Monitoring and Tracking
Growth in Information, Communication, & Technology (ICT):
As per the report published by World Bank, the minimum internet penetration rate is 15% in the least developed countries. Technological innovation drives the development of ICT infrastructure.
- In-depth analysis of the global IoT in Defence industry and dynamics is provided to understand the market scenario.
- Quantitative analysis of the current trends and future estimations from 2017 to 2022 is provided to assist the strategists and stakeholders to capitalise on prevailing opportunities in the IoT in Defence market.
- Porter's Five Forces analysis examines the competitive structure of the market and explains about the factors that influence the market entry and expansion.
- A detailed analysis of geographical segments enables identification of profitable segments for market players in the IoT in Defence market.
- Comprehensive analysis of the trends, sub-segments, and key revenue pockets is provided.
- Detailed analysis of the key players operating in the IoT in Defence industry and their business strategies are anticipated to assist the stakeholders to take informed business decisions.
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