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Internet Of Things Market To Expand At A Significant CAGR Of Over 19% Between 2016 And 2023

According to a new market report published by Credence Research, Inc. “Internet of Things Market By Type (Hardware, Software, Service), By Software (Data Management, Security, Analytics, Communication, Other Software), By Service (Consulting, Implementation & Integration, Operation Management, Other Services), By Deployment Model (On-premise, Cloud-based), By End-User Vertical (Consumer Vertical, B2B Vertical), By B2B Vertical (Public Sector, Retail, BFSI, Healthcare, Manufacturing, Energy & Utility, IT & Telecom, Transportation) – Growth, Share, Opportunities & Competitive Analysis, 2016 -2023”, the global internet of things market is expected to witness a steady growth, expanding at a CAGR of over 19% from 2016 to 2023.

What is the Internet of Things?

“It’s about networks, it’s about devices, and it’s about data,” Caroline Gorski, the head of IoT at Digital Catapult explains. IoT allows devices on closed private internet connections to communicate with others and “the Internet of Things brings those networks together. It gives the opportunity for devices to communicate not only within close silos but across different networking types and creates a much more connected world.”

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Purpose of the Report

The purpose of this strategic research study titled “Global Internet of Things Market – Growth, Share, Opportunities, and Competitive Analysis, 2016 – 2023” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the global Internet of things market.

Target Audience

  • Industry Investors
  • IoT Solution and Service Providers
  • Communication Hardware Providers
  • End-users

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Browse the Internet of Things Market By Type (Hardware, Software, Service), By Software (Data Management, Security, Analytics, Communication, Other Software), By Service (Consulting, Implementation & Integration, Operation Management, Other Services), By Deployment Model (On-premise, Cloud-based), By End-User Vertical (Consumer Vertical, B2B Vertical), By B2B Vertical (Public Sector, Retail, BFSI, Healthcare, Manufacturing, Energy & Utility, IT & Telecom, Transportation) – Growth, Share, Opportunities & Competitive Analysis, 2016 -2023 report at https://www.credenceresearch.com/report/internet-of-things-iot-market

Market Insights

Growing digitization of business models both front-end and back-end across major end-user verticals and increasing government initiatives and support to deploy IoT technologies in small- and mid-sized enterprises is driving growth of the internet of things market worldwide. However, high cost associated with deployment of connected devices and intelligent systems is hampering growth of the market especially in developing regions such as Asia-Pacific and Latin America.

Report Scope

This report analyzes the global Internet of things market in terms of type, software, service, end-user vertical, and geography. The global internet of things market has been segmented based on type into hardware, software and service. The software segment is further sub-segmented into data management software, security software, analytics software, communication software, and other software. Based on services, the market is bifurcated into consulting, implementation & integration, operation management, repair & maintenance and other services. On the basis of end-user vertical, the global internet of things market is segmented into consumer vertical and B2B vertical. The B2B vertical segment is further sub-segmented into public sector, retail, BFSI, healthcare, manufacturing, energy & utility, IT & telecom, and transportation sectors. The global internet of things market covers major geographies such as North America, Europe, Asia Pacific, and Rest of World.

Internet Of Things Market
  • Current and future market trends to justify the forthcoming attractive markets within the Internet of things market
  • Market fuelers, market impediments, and their impact on the market growth
  • In-depth competitive environment analysis
  • Ecosystem Analysis
  • SRC (Segment-Region-Country) Analysis

Read also:Internet of Things (IoT) Security Market is estimated to hit US$ 36.45 Bn by 2026

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