Global market research and consulting company, MarketsandMarkets, recently released its “Internet of Things (IoT) & Machine-To-Machine (M2M) Communication Market” report, which shows that the IoT and M2M communication market will become a $290.0 billion market by 2017. In 2011, it was estimated to be a $44.0 billion market. Additionally, the market has been forecast to increase at an estimated CAGR of 30.1 percent between 2012 and 2017.
Categorizing the global market on the basis of technology and platforms, IoT components, M2M connections and modules, verticals and geography, the report
examined the major market drivers, restraints and opportunities in North America, Latin America, Europe, Asia-Pacific, and Middle-East & Africa (MEA).
The report further identified government initiatives and ubiquitous connectivity to be the key market drivers. In terms of geographies, market opportunities for IoT are high in the Middle-Eastern region, largely due to the rising adoption of new standards and technologies in smart cities and smart homes. Latin America has been identified as one of the regions to have these opportunities.
The Internet of Things market report considers various industry verticals such as public safety & urban security, retail, healthcare, energy and power, transportation, telecom and IT, consumer and residential, industrial and commercial buildings, manufacturing and more.
Furthermore, the report examines the growth strategies and recent developments of leading vendors including AT&T (US), Cisco (US), Intel (US), IBM (News - Alert) (US), Alcatel-Lucent S.A. (France), Huawei (China) and Gemalto NV (Netherlands). In doing so, the report takes into consideration in-depth information on the latest mergers and acquisitions (M&A), joint-ventures and collaborations, and venture capital funding trends.
In another recent report, "Smart TV Market: Global Advancements Forecasts & Analysis (2012 - 2017),” MarketsandMarkets revealed that the total Social TV market is expected to reach $256.44 billion by 2017 with a CAGR of 11.2 percent.
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Edited by Allison Boccamazzo