Key Role of Internet of Things Technology in Digital Transformation

The Internet of Things Technology Market constitutes node component, network infrastructure, software solution, platform, and service.

The IoT technology market is expected to grow at a CAGR of 25.1% during the forecast period, to reach USD 639.74 Billion by 2022 from USD 176.00 Billion in 2016.

The base year used for this study is 2016, and the forecast period is from 2017 to 2022.Objectives of the StudyTo define, describe, and forecast the overall IoT technology market on the basis of node component, network infrastructure, software solution, platform, service, end-use application, and geographyTo strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and contribution to the total marketTo analyze opportunities in the market for stakeholders and detail the competitive landscape for market playersTo forecast the market size for various segments with respect to four main regions: North America, Europe, Asia Pacific, and Rest of the WorldGet PDF Brochure: https://www.marketsandmarkets.com/requestsampleNew.asp?id=258239167The IoT technology market comprises players such as Intel (US), QUALCOMM (US), Texas Instruments Incorporated (US), Microsoft (US), IBM (US), Cisco Systems (US), and Amazon Web Services (US), among others.Of all the major end-use applications, the industrial end-use application held the largest share of the IoT technology market in 2016.

The growth of the industrial application was primarily driven by the need to implement predictive maintenance techniques in industrial equipment to monitor their working and to avoid unscheduled downtimes in the production cycle.

Furthermore, the government initiatives such as Industrie 4.0 in Germany and Plan Industriel in France are also promoting the implementation of the IoT solutions for the industrial end-use application.Of all the regions, North America held the largest market share of the overall IoT technology market in 2016.

An established IT ecosystem and the early adoption of various IoT-enabled products across multiple end-user applications are the most prominent factors behind the growth of the market in this region.

Internet of Things, we can easily say, is a revolution in making; and it’s going to be one revolution that we all reckon by.

It’s a concept fast gaining popularity amongst people from not just the technologically inclined people, but just about everyone.

Similarly, our cities are also being aimed at having a better technologically equipped transportation system, complete with inter-connected sensors to help streamline the traffic.

Internet of things development is also expected to take us towards a future that sees a better monitored and controlled lighting, pollution, power plants, and so on.

Healthcare is looking for a future that allows for an at-home health monitoring that is as good as a clinical health monitoring through connected sensors, a vastly better communication, and even well-connected wearables.

We are about to embrace a future where the healthcare landscape is an ever-improving one, where your doctor will get your blood pressure update without having to be present near you, or your sleep pattern could be relayed back to and tracked by your physician in real-time, or your EEG and ECG devices, your blood glucose and other vital sign checking devices would be connected and well-monitored over the Internet.

The kitchen has always been a natural home for gadgets, and it's the room which is most likely to be transformed by the Internet of Things. Here’s a summary of how the IoT world could play out when it comes to your kitchen.

With the rise in internet of things (IoT) and connectivity generating unimaginable amount of data, 4G network and speeds are going to become obsolete and it will be mandatory for large corporations, banks, and financial institutions to upgrade their infrastructure to adapt to the upcoming 5G reign.

As per a market research report published on the official website of market intelligence firm, Research on Global Markets, the global 5G market is expected to reach a value of USD 277 Bn by 2025 expanding at a compound annual growth rate of nearly 111% year on year during the period of 2019 to 2025.

Once the 5G network is up and running, internet speed and network latency are going to be so productive that all anyone will need to connect with the internet is a mobile phone and begin streaming high speed internet connectivity.

The revolution it is going to bring in this semi connected world of today is unimaginable.

It will take less than 1 millisecond for games like PUBG that face a latency of 10 milliseconds.

Its an extraordinary feat for competitive gaming.