Over the years, there has been a dramatic change in the way we access the Internet. The innovations in smartphones and tablets have made it possible to access the Internet on the go. Today, the Internet has become a part and parcel of our lives, and it is forecasted that by 2020, half the world’s population will have Internet access. These developments and the advancements in ICT and embedded systems have led to the emergence of a new disruptive technology, known as the Internet of Everything (IoE).
The (IoE)connects devices to one another through wired or wireless networks and allows end-users to manage and monitor these devices through automation systems. The (IoE)is being hailed as the next big technological revolution with the potential to reinvent the manner in which organisations operate.
Growing Number of Internet users, and Proliferation of Connected Devices: Key Drivers for Global IoE Market
Considering the pace at which the (IoE)market is growing, it is projected that it will become mainstream by 2020. Focus on enterprise mobility, growing number of Internet users, and proliferation of connected devices are forecasted to increase the demand for (IoE)solutions in the next five years.
The global (IoE)market, which was worth US$ 2,426.8 Bn in 2013, is expected to exhibit a CAGR of 16.8% through 2020 and reach a valuation of US$ 7130.4 Bn. It is projected that explosion of big data, government initiatives to develop new technologies, and increase in the spending on technological innovations will be the key factors fuelling the growth of the IoE market.
Key Segments of the Global IoE Market
The two key segments of the global (IoE)market are IoE verticals and business to business (B2B) IoE components. The B2B IoE components segment is further sub-segmented into:
The intelligent systems sub-segment currently has a market share of more than 80%, and this trend is expected to continue through 2020. On the other hand, infrastructure enablement spending sub-segment is projected to witness a robust CAGR of 22.1% and reach a valuation of US$ 1,160.5 Bn by 2020. The service enablement spending sub-segment is projected to expand at a CAGR of 9.5% and reach a valuation of US$ 11.1 Bn.
Key Verticals of the Global IoE Market
On the basis of key verticals, the global (IoE)market is segmented into two verticals — consumer and business to business (B2B). The B2B segment is further categorised into:
The consumer vertical had a 25.7% market share in 2013 and it is projected to grow steadily through 2020. As far as the B2B vertical is concerned, the manufacturing sector had a 34.1% share of the global market in 2013. It is projected that the manufacturing sector will exhibit a CAGR of 16.3% through 2020 and reach a valuation of US$ 1,718.3 Bn. Furthermore, the public sector is forecasted to reach a valuation of 161.4 Bn.
Key Regions of the Global IoE Market
North America, Western Europe, and Asia Pacific are the key regions for the growth of the global IoE market. Among these regions, Asia Pacific is projected to witness the fastest growth, reflecting a CAGR of 19.3% through 2020.
Key Players of the Global IoE Market
Some of the key players in the global IoE market include IBM Corporation, Vodafone Group Plc., Samsung Electronics Co. Ltd., Telefonica S.A., Accenture Inc., Apple Inc., Cisco Systems Inc., Hewlett-Packard Company, and Google Inc.
Browse full Report of Global Internet of Everything(IoE)Market: http://www.futuremarketinsights.com/reports/details/global-internet-of-everything-market
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