Dublin, April 20, 2016 (GLOBE NEWSWIRE) -- Research and Markets has announced the addition of the "Internet of Things (IoT) Market - Global Forecast to 2021" report to their offering.
The Internet of Things market size is forecast to grow from USD 157.05 Billion in 2016 to USD 661.74 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 33.3% from 2016 to 2021.
The increasing number of connected devices and the proliferation of smartphones have contributed significantly to the rise of IoT. Rising adoption of cloud platforms, development of cheaper and smarter sensors, and evolution of high speed networking technologies is expected to drive the growth of the IoT market.
North America is estimated to dominate the IoT market in 2016 due to technological advancements and early adoption of IoT in the region. APAC market is expected to grow at the highest CAGR during 2016-2021 and to overtake the North American IoT market by 2021. The primary driving forces for this growth are increasing technological adoption and huge opportunities across industry verticals in the APAC countries, especially India, China, and Japan.
The industry vertical specific adoption of IoT technology is at a nascent stage and therefore most of the regions are facing shortage of skilled professionals to design and run IoT algorithms, which are complex in nature. This acts as the major restraining force for the market. However, many countries in North America and APAC region have a strong business case for implementing IoT and the market in this region is expected to experience significant growth opportunities.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Internet of Things (Iot) Market Analysis, By Platform
8 Internet of Things (Iot) Market Analysis, By Software Solution
9 Internet of Things (Iot) Market Analysis, By Service
10 Internet of Things (Iot) Market Analysis, By Application Domain
11 Geographic Analysis
12 Competitive Landscape
13 Company Profiling
14 Key Innovator Profile
For more information visit http://www.researchandmarkets.com/research/gsjxb5/internet_of
CONTACT: Research and Markets Laura Wood, Senior Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716