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IOT technology & application market worth $1423.09 billion by 2020

According to a new market research report “Internet of Things Technology & Application Market by Communication Technology (ZigBee, Z-Wave, Bluetooth, Wi-Fi, NFC, RFID), Application Vertical (Building Automation, Consumer, Wearable Electronics, Industrial, Automotive & Transportation, Agriculture) & Geography – Global Trends & Forecasts to 2014 – 2020” , the value of Internet of Things market was worth $1029.5 billion in 2013, and is expected to reach $1423.09 billion by 2020, at an estimated CAGR of 4.08% from 2014 to 2020.
Browse more than 149 market data tables with 68 figures spread through 452 pages and in-depth TOC on “Internet of Things Technology & Application Market – Global Trends & Forecasts to 2014 – 2020”

The term ‘Internet of Things’ from its early introduction in 1990s by Mark Weiser has evolved enormously and now it has taken the centre stage. Internet of Things concept has gone beyond machine-to-machine (M2M) communication. The potential benefits from technologies associated with the Internet of Things (IoT) lies in the intersection of multiple capabilities. With new technological inventions and its seamless integration in our day to day lives, it is evident that Internet of Things concept is already laying down the foundation for a promising future.

This report provides revenue estimates for Americas, EMEA, and APAC. Revenue estimates and forecasts are provided till 2020 for the Internet of Things technology & application market and its sub-segment markets by application and geography.

With new technological inventions and its seamless integration in our day to day lives, it is evident that Internet of Things concept is already laying down the foundation for a promising future.Few trends in technologyand application are acting particularly as future IoT enablers which may help in shaping the future of the IoT. Some of these critical technology trends which are expected to have a huge impact on IoT evolution are IPV6, sensor proliferation, cloud computing, big data, and faster communication standards such as 4G-LTE and beyond.

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Source: Telecom Industry Ein News

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