Agile IoT Market: Historical Analysis, Opportunities, Latest Innovations, Key Players : Industry Estimated to Grow with a Healthy CAGR During Forecast Period 2018-2023
Global Agile IoT Market, By Component (Hardware, Software), By Deployment (On-premises, Cloud), By Organization size (Large, Small, Medium), By Connectivity (LAN, Wi-Fi, Li-Fi), Vertical (Manufacturing, Healthcare) - Forecast 2023
Pune, India -- (SBWire) -- 08/29/2018 --Market Scenario:
The IoT@Work architecture follows a layered pattern. The layers are defined as abstractions and function groups managing the IoT infrastructure at the lowest layer, i.e. devices and networks, and the IoT applications running on top. In between these two, the function groups include management and orchestration functions that deal with configuration and execution of applications on top of resources and services offered in the IoT infrastructure.
The term agile manufacturing is often interpreted differently from the various stakeholders or experts managing production systems. To some extent machine and mechanical setups could be made agile by increasing the number of combinatory sets of mechanical, electrical and software parameters a machine can have. This should make the machine adaptable to many needs and many types of end products. However, agility could also be approached in making the production system as modular as possible, with independent and intelligent components or units cooperating with each other, to create the large number of combinatory configurations. The manufacturing setup is meant to be reusable, smart, and could be shared by many production processes at the same time.
The factors contributing to the growth of the agile IoT market are The semiconductor industry has been able to weather the fallout from the global financial crisis and realize several years of healthy growth—in part because of the widespread adoption of smartphones and tablets, which created demand for mobile and wireless applications. The industry's average annual growth rate between 2010 and 2013 was about 5 percent. Many semiconductor players have been asking themselves just this question.
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The Internet of Things refers to the networking of physical objects through the use of embedded sensors, actuators, and other devices that can collect or transmit information about the objects. The data amassed from these devices can then be analyzed to optimize products, services, and operations. Perhaps one of the earliest and best-known applications of such technology has been in the area of energy optimization: sensors deployed across the electricity grid can help utilities remotely monitor energy usage and adjust generation and distribution flows to account for peak times and downtimes. But applications are also being introduced in a number of other industries. Some insurance companies, for example, now offer plans that require drivers to install a sensor in their cars, allowing insurers to base premiums on actual driving behavior rather than projections. And physicians can use the information collected from wireless sensors in their patients' homes to improve their management of chronic diseases. Through continuous monitoring rather than periodic testing, physicians could reduce their treatment costs by between 10 and 20 percent, according to McKinsey Global Institute research—billions of dollars could be saved in the care of congestive heart failure alone
The key players in the global agile IoT market include- ByteLight, Inc. (U.S), Fujitsu Ltd. (Japan), General Electronic Corp. (U.S), LVX System (U.S),, Panasonic Corp. (Japan), Qualcomm Inc. (U.S),, PureLifi Ltd (U.S),Ibsentelecom Ltd. (U.S),, Lightbee Corp. (U.S), and Supreme Architecture Inc. (U.S), among others.
North America is expected to hold the largest market share in the IoT Market during the forecast period. The countries in this region have established economies, which empowers them to strongly invest in R&D. The rapid digitalization across industry verticals, the increasing adoption of smart connected devices, and the technological advancements have further fuelled the growth of the IoT Market in this region. Whereas, it is followed by Europe and APAC due the rapid development in the region.
The Agile IoT Market has been segmented into component, connectivity, deployment, organization size, vertical and region.
- Public Sector
- Device manufacturers
- Network Operators
- Research firms
- Software Developers
- Commercial Banks
- Semiconductor Manufacturers
- End-user sectors
- Technology Investors
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LIST OF TABLES
TABLE 1 AGILE IOT MARKET, BY COMPONENT
TABLE 2 AGILE IOT MARKET, BY CONNECTIVITY
TABLE 3 AGILE IOT MARKET, BY DEPLOYEMENT
TABLE 4 AGILE IOT MARKET, BY ORGANIZATION SIZE
TABLE 5 AGILE IOT MARKET, BY END-USER
LIST OF FIGURES
FIGURE 1 RESEARCH METHODOLOGY
FIGURE 2 AGILE IOT MARKET: BY COMPONENT (%)
FIGURE 3 AGILE IOT MARKET: BY CONNECTIVITY (%)
FIGURE 4 AGILE IOT MARKET: BY DEPLOYEMENT (%)
FIGURE 5 AGILE IOT MARKET: BY ORGANIZATION SIZE (%)
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