Internet of Everything Market

Market Value and Forecast

The global IoE market was valued at US$ 2,426.8 billion in 2013 and is expected to reach US$ 7,130.4 billion by 2020, reflecting a CAGR of 16.4% during forecast period, 2014 - 2020. In 2013, connected IoE devices represented 10.2% of overall IoE installation base across globe. Increased technology budgets by governments and proliferation of connected devices are some of the prominent factors driving the demand for IoE solutions.

Also, introduction of new technologies for enterprise mobility and big data analytics by key players such as Cisco, Accenture and IBM are expected to boost the market growth, thereby increasing competitiveness in the market.

IoE Market: Key Verticals

FMI has segmented global IoE market into two major verticals: consumer and business to business (B2B). Consumer vertical stood at US$ 624.3 billion with 25.7% of overall IoE market in 2013, however it is expected to lose 190 BPS to B2B vertical by 2020.

The B2B vertical segment has been sub-segmented into manufacturing sector, public sector, retail sector, transportation sector, BFSI (banking, financial services and insurance) sector, healthcare sector, communication & media sector and utility sector.

Among all the aforementioned IoE B2B verticals, manufacturing sector dominated the market and accounted for 34.1% market share in 2013, followed by public sector with 20.3% share of global IoE market. However, healthcare sector is expected to be the fastest growing market across all the regions, reflecting a CAGR over 20% during the forecast period.

Key B2B IoE Components

In terms of components, the global IoE market can be sub-segmented into intelligent system, infrastructure enablement spending and services enablement spending. Among all the previously mentioned B2B IoE components, intelligent system segment is the most dominant. Valued at US $1,524.5 billion, this segment is forecasted to expand at a CAGR of 15.1% from 2014 to 2020.

However, from 2014 to 2020, infrastructure enablement spending segment is estimated to exhibit fastest CAGR of 24.1% to reach US $ 1,160.5 billion by 2020.

IoE Market: Key Regions

The global IoE market has been classified into seven major regions which include North America, Western Europe, Asia-Pacific, Japan, Eastern Europe, Latin America and Middle East & Africa. Of all the regions, North America dominated the global IoE market with over 1/3rd of overall IoE market share in 2013; the IoE market in North America is expected to expand at a CAGR of 14.3% during the forecast period.

Western Europe ranked second, followed by Asia-Pacific, with both these regions accounting for more than 20% market share in 2013. In addition, Asia-Pacific is anticipated to become the fastest growing region in IoE market, reflecting a CAGR of 19.3% from 2013 to 2020.

Key Players

Some of the key players identified in global IoE market are IBM Corporation, Cisco Systems Inc., Apple Inc., Vodafone Group Plc., Accenture Inc., Google Inc., Telefonica S.A., Hewlett-Packard Company and Samsung Electronics Co. Ltd. These key players follow the strategy of acquisition and mergers to gain market share and enter new markets.

Key Segment

Component

• Hardware
  • Sensors
  • RFID Tags
  • Smart Devices
  • Others
• Software
  • Data Management
  • Device Management
  • Connectivity Management
  • Others
• Services
  • Professional
    • Consulting
    • Implementation
    • Support & Maintenance
  • Managed

Network Technology

• Wi-Fi
• Bluetooth
• NFC
• Others

Application

• Smart Homes
• Mobile & Wearable Device
• Connected Car
• Smart Cities
• Others

Vertical

• BFSI
• Manufacturing
• Transportation & Logistics
• Healthcare
• IT & Telecom
• Retail
• Energy & Utility
• Others

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia Pacific
• Middle East & Africa