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Demand for Better Standards of Communication to Fuel Growth of Internet of Things Technology

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Published on : May 09, 2017

Albany, New York, May 09, 2017: The research report, titled “Internet of Things (IoT): Technology, Outlook & Significance 2017,” provides a thorough understanding of the various market dynamics changing the trajectory of the overall market. The research report includes an explanation of the implementation and understanding of various IoT solutions. The publication also assesses the awareness about IoT amongst various end users in the industry. It then evaluates how IoT technology will be adopted to better the operational efficiency within organization and its impact on the revenue earnings of the global market. Investments in the global market and business advantages of IoT solutions have been discussed in great detail in the comprehensive research report.

IoT market includes platform, software, hardware solutions along with services and applications. The demand for this technology has been consistent due to various advantages it offers such as an information-driven ecosystem for a convenient and modern life. IoT technology essentially brings various gadgets together digitally to establish a meaningful chain of communication for a desired output. This has allowed organizations to analyze raw data and transform it into usable information for business purposes. The global IoT market is estimated to grow at a prolific growth rate as it is expected to revolutionize manufacturing, transportation, utilities, healthcare, education, and government sectors in the near future.

Rapid technological developments in micro-electromechanical systems (MEMS), sensor technologies, growing standards of communication, and improving internet infrastructure are projected to be some of the leading reasons for booming IoT market in the coming years. In terms of geography, the global market is segmented into Asia Pacific, North America, Europe, and Rest of the World. Presently, Europe holds a dominant share in the global market due to well-established IoT ecosystem. However, Asia Pacific is expected to offer innumerable lucrative offers to IoT technology in the foreseeable future.

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The Asia Pacific IoT market will be driven by the high penetration of internet in the region. The regional market will also be favored by the growing disposable incomes that is allowing various users to buy electronic gadgets. Initiatives taken by the governments of developing countries to offer better communication, growing usage of smartphones, and increasing investments by IT companies have also been assessed as major factors responsible for the growth of the Asia Pacific IoT market.

Some of the leading players operating in the global IoT market are Bosch, IBM, Oracle, Symantec, and Cisco. The research report provides an in-depth understanding of the vendor landscape present in the global market. Furthermore, the publication also explains the research and development strategies of these players, their plans for expanding business, and their marketing strategies. The threat from new entrants has been assessed by market analysts to help the readers get a well-informed perspective of the overall market.

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