DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/frnrlz/global_internet) has announced the addition of the "Global Internet of Things (IOT) Market 2015-2019" report to their offering.
The Global IoT market to grow at a CAGR of 31.72% over the period 2014-2019
The Internet of Things (IoT) is a network of physical tangible objects interconnected through various network technologies. These objects can communicate among themselves and with the external environment when required. IoT facilitates an interconnection of end-user devices and the underlying communication devices. IoT combines hardware, embedded software, communication services, and IT services. IoT helps create smart communication environments such as smart homes, smart shopping, smart transportation, and smart healthcare. The major components of IoT include RFID, WSN, NFC, cloud services, gateways, data storage and analytics, and visualization elements. IoT helps in efficient monitoring and management of numerous interconnected devices.
Expansion of the mobile network infrastructure is one of the trends being witnessed in this market. With 3G and 4G networks expanding rapidly, service providers can provide high bandwidth to customers, which enhance the quality of the IoT service and speeds up data transmission.
According to the report, the growing number of smart connected devices such as portable navigation devices, media players, and imaging devices has resulted in an increase in the demand for the IoT worldwide. Also, 25 billion devices are expected to be connected to the internet by 2015 and 50 billion by 2020, as predicted by Cisco's IBSG.
Further, the report states that one of the major challenges which hinder market growth is data protection and security concerns. Networks on the IoT have to be highly secure because they transfer critical data. Any unauthorized access to these networks can lead to the theft or manipulation of data, which would hinder the acceptance of the IoT among end-users.
- Cisco Systems
Other Prominent Vendors
- Amazon Web Services
- ARM Holdings
- Bosch Software Innovations
- Freescale Semiconductor
- General Electric
- Huawei Technologies
- Samsung Electronics
For more information visit http://www.researchandmarkets.com/research/frnrlz/global_internet