IoT's Future in the Global Market

IoT's Future in the Global Market

By Manufacturing Technology Insights | Friday, February 01, 2019

As every new market study shows, the IoT age has achieved monumental success and is quickly gaining strength. IoT is also not confined to a single market segment. The benefit of this connected phenomenon has already been realized by utilities, businesses, industrial companies, cities, retail stores, and homeowners worldwide.

According to Transparency Market Research (TMR), the global IoT market is set to thrive in the coming years. The global IoT platforms market is currently in its infancy, and the business landscape is highly competitive. R&D plays a key role in boosting global market opportunities for vendors. Significant suppliers are focused on adopting strategies to boost their global presence. Market players continue to work on an innovative product portfolio that improves the quality of their products and offer competitive prices. IBM Corporation, Oracle Corporation, and Amazon Web Services are the leading names in the global IoT platform market.

Check Out - Top IoT Solution Providers

In the semi-automatic segment, the application of food processing equipment is high. By developing complex IoT solutions, suppliers are focused on improving progress in communications platforms and middleware. To support and facilitate IoT solutions, market players invest in device and network integration. Sellers are expected to concentrate on investing in the sector.

In quality market research and business intelligence, TMR aims to reach the peak. Their goal is to become the customers’ most robust decision support system. The company believes that integrity, safety, and excellence are the main principles. Their agile processes are designed to keep pace with evolving business trends and to ensure that customer information is kept confidential and to maintain their identity. According to TMR, over the forecast period from 2016 to 2025, the global IoT platform market is expected to increase by 21 percent CAGR. The estimated market value in 2016 was $1,786.8M and by the close of the forecast period is expected to rise to $10,064.0M.

Transparency Market Research is a next-generation provider of market intelligence, providing business leaders, consultants and strategy professionals with fact-based solutions. TMR believes that combining customer-specific solutions with the right research methodology is the key for companies to make the right decision.

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