Dublin, Aug. 06, 2019 (GLOBE NEWSWIRE) -- The "IoT Connectivity Market by Component, Organisation Size, Application Areas (Building & Home Automation, Smart Energy & Utility, Smart Manufacturing, Connected Health, Smart Retail, Smart Transportation), Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The IoT Connectivity market to grow from USD 3.8 billion in 2019 to USD 8.9 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 18.7% from 2019 to 2024.
Organizations are adopting advanced technologies, such as the IoT and cloud services, achieving successful digital transformation. IoT generates a substantial amount of data that needs to be deposited, managed, and analyzed efficiently. The increasing computational power of IoT devices aids in carrying out multiple functions in real time at a faster rate. The insights obtained after data analysis are used to drive actionable steps that can improve business. Hence, the adoption rate of IoT devices is increasing across the globe.
By component, platform segment to account for a higher market share during the forecast period
Based on component, the platform segment is expected to hold a higher market share than the services segment during the forecast period. The IoT connectivity platform acts as a common point to manage the entire network of an organization along with devices, and, at the same time, ensure the security of communications. These platforms analyze data transferred over a network and automatically routes it to avoid congestions that can result in a network crash. Majority of the IoT connectivity platform providers offer an access-agnostic, open, flexible, and secure connection management platform.
By services, managed services segment to hold a larger market size during the forecast period
Among services, the managed services segment is expected to witness a higher growth rate than the professional services segment during the forecast period. Managed services help clients manage their IoT connectivity operations from consultancy to deployment and maintenance. The prime responsibility of the managed services providers is to improve the efficiency of inbound and outbound operations cost-effectively for enterprises.
Among regions, Asia Pacific (APAC) to grow at the highest CAGR during the forecast period
The market in APAC is projected to grow at the highest CAGR during the forecast period, due to the massive potential for the applications of IoT in sectors such as manufacturing, automotive, and building automation. The adoption of the IoT-based devices is increasing at a swift pace in APAC owing to the digital initiatives by various governments. The presence of growing economies such as China and India, which are rapidly implementing the latest technologies is also expected to contribute to the growth of the IoT connectivity market in the region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the IoT Connectivity Market
4.2 IoT Connectivity Market in Asia Pacific, By Component and Country
4.3 IoT Connectivity Market: Major Countries
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Proliferation of Connected Devices
5.2.1.2 Need for Reliable, Secure, and High-Speed Network Connectivity
5.2.1.3 Need for Integrating the Standalone and Non-Standalone Components of IoT Ecosystem
5.2.2 Opportunities
5.2.2.1 Open-Source IoT Platforms Providing A Competitive Advantage Over Traditional Connectivity Platform Providers
5.2.2.2 Telcos to Move Up the IoT Value Chain
5.2.2.3 Integration of Blockchain With Iot
5.2.3 Challenges
5.2.3.1 Data Security Concerns and Cyberattacks on Connectivity Layer
5.2.3.2 Government Regulations Varying From Country to Country
5.2.3.3 High Bandwidth and Energy Consumption
5.3 Regulatory Implications
5.3.1 ISO Standards
5.3.2 ISO/IEC JTC 1
5.3.2.1 ISO/IEC JTC 1/SWG 5
5.3.2.2 ISO/IEC JTC 1/SC 31
5.3.2.3 ISO/IEC JTC 1/SC 27
5.3.2.4 ISO/IEC JTC 1/WG 7 Sensors
5.3.3 IEEE
5.3.4 CEN/ISO
5.3.5 CEN/CENELEC
5.3.6 ETSI
5.3.7 ITU-T
5.4 Use Cases
5.4.1 Use Case 1: Cisco Jasper Enabling Vivint to Increase Revenues By Adding New Services
5.4.2 Use Case 2: Grundfos Driving Innovation in Water Technology With the Help of Ericsson's IoT Connectivity Management
5.4.3 Use Case 3: Telit's Asset Tracking and Inventory Management Solutions Helping Restaurant Technologies to Troubleshoot Remotely and Update Telemetry Devices
5.4.4 Use Case 4: Sierra Wireless IoT Enabling Predictive Maintenance to Support Veolia's Premium Service Offering
5.4.5 Use Case 5: Arm's Pelion Connectivity Management Enabling UK Smart Meter Systems to Deploy, Own, and Manage Smart Metering Assets Throughout the Country
6 IoT Connectivity Market, By Component
6.1 Introduction
6.2 Platform
6.2.1 Rising Need for Network Management Through A Single Platform to Drive the Deployment of IoT Connectivity Platform
6.3 Services
6.3.1 Professional Services
6.3.1.1 Consulting
6.3.1.1.1 Demand for Consulting Services on the Rise to Solve IoT Connectivity Challenges
6.3.1.2 Implementation
6.3.1.2.1 Demand for Implementation Services to Grow to Solve Interoperability Issues
6.3.1.3 Support and Maintenance
6.3.1.3.1 Growing Demand for Support and Maintenance Services in the Matured Regions
6.3.2 Managed Services
6.3.2.1 Need for End-To-End Connectivity Management to Drive the Demand for Managed Services
7 IoT Connectivity Market Size, By Organization Size
7.1 Introduction
7.2 Large Enterprises
7.2.1 Increasing Number of Connected Devices Across Large Enterprises to Drive the IoT Connectivity Market
7.3 Small and Medium-Sized Enterprises
7.3.1 Tailor-Made Approach From Vendors to Drive Small and Medium-Sized Enterprises Toward the Adoption of IoT Connectivity Platforms
8 IoT Connectivity Market Size, By Application Area
8.1 Introduction
8.2 Smart Retail
8.2.1 Increasing Focus to Provide Seamless Customer Experience to Drive the Need for A Unified IoT Connectivity Platform in Smart Retail
8.3 Smart Manufacturing
8.3.1 Industry 4.0 to Drive the Adoption of IoT Connectivity Platforms
8.4 Connected Health
8.4.1 IoT Connectivity Platform to Enable Seamless Remote Patient Monitoring for Healthcare Providers
8.5 Building and Home Automation
8.5.1 IoT Connectivity is Pervasive for Effective Building Automation
8.6 Smart Transportation
8.6.1 Robust IoT Connectivity Management to Offer Seamless Information Flow to Commuters
8.7 Smart Grid and Utilities
8.7.1 Smart Meter and Smart Grid Initiatives to Drive the Demand for IoT Network Connectivity
8.8 Others
9 IoT Connectivity Market, By Region
9.1 Introduction
9.2 North America
9.2.1 United States
9.2.1.1 Early Adoption of the Latest Connectivity Technologies to Drive the Adoption of IoT Connectivity Platform in the Us
9.2.2 Canada
9.2.2.1 Smart Grid Initiatives By the Government to Drive the IoT Connectivity Market Growth in Canada
9.3 Europe
9.3.1 United Kingdom
9.3.1.1 UK Digital Strategy to Boost the Adoption of IoT Connectivity Platform in the Uk
9.3.2 Germany
9.3.2.1 Industrie 4.0 to Boost the Demand for IoT Connectivity in Germany
9.3.3 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.1.1 Complementary Government Initiatives to Drive the Demand for IoT Connectivity Management in China
9.4.2 Japan
9.4.2.1 Government and Enterprises' Initiatives to Drive the IoT Connectivity Market in Japan
9.4.3 Rest of Asia Pacific
9.5 Latin America
9.5.1 Brazil
9.5.1.1 Brazilian Government Initiatives to Drive the Growth of the IoT Connectivity Market in Brazil
9.5.2 Mexico
9.5.2.1 Smart Grid and Industry 4.0 Implementation Plans to Drive the Demand for IoT Connectivity in Mexico
9.5.3 Rest of Latin America
9.6 Middle East and Africa
9.6.1 Saudi Arabia
9.6.1.1 Saudi Vision 2030 to Fuel the Adoption of IoT Connectivity Solutions in Saudi Arabia
9.6.2 United Arab Emirates
9.6.2.1 Dubai IoT Strategy to Drive the Adoption of IoT Connectivity Solutions Across UAE
9.6.3 Rest of Middle East and Africa
10 Competitive Landscape
10.1 Competitive Leadership Mapping
10.1.1 Visionary Leaders
10.1.2 Innovators
10.1.3 Dynamic Differentiators
10.1.4 Emerging Companies
10.2 Strength of Product Portfolio
10.3 Business Strategy Excellence
10.4 Ranking of Key Players for the IoT Connectivity Market, 2019
11 Company Profiles
11.1 Cisco Jasper
11.2 Huawei
11.3 AT&T
11.4 Telefnica
11.5 Ericsson
11.6 Vodafone
11.7 Sierra Wireless
11.8 Orange Business Services
11.9 Verizon Enterprise Solutions
11.10 Telit
11.11 Hologram
11.12 Particle
11.13 Aeris
11.14 Sigfox
11.15 Emnify
11.16 Moeco
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