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Published on : Aug 24, 2017

ALBANY, New York, Aug 24, 2017 – ResearchMoz.us has recently announced the addition of a new study on the Europe Internet of things (IoT) market. The report, titled β€œIoT in Europe: Market Opportunities and Main Applications,” presents a comprehensive assessment of this market on the basis of the key application of IoT and the imminent opportunities.

According to the research report, the increasing preference for technologically advanced products is boosting the demand for IoT considerably in Europe. In addition to this, the augmenting trend of smart homes is expected to propel the Europe market for IoT remarkably in the years to come. A smart home is defined as a home where various domestic appliances, such as lighting systems, air conditioning units, entertainment systems, computer systems, heating modules, television sets, CCTV cameras, and security systems are connected to tablets or smartphones and offers completed operational control to the house owner over these appliances, notes the research study.

The increasing penetration of smartphones has propelled the mass utilization of IoT-related applications and has surfaced as an important IoT device for the European IoT ecosystem. The storage capacity offered by cloud computing and the analytics originating from big data are also fostering the growth of the Europe market for IoT, states the research report.

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By the end of 2017, Europe is expected to have the utmost number of IoT connections, globally, which will be closely followed by Asia Pacific, the Americas, and the Middle East in the near future. The total number of IoT connections in Europe is anticipated to reach 3.1 mn by the end of 2020, thanks to the increasing need of businesses to optimize resources, improve customer experience, and generate novel revenue streams. The cellular machine to machine connections are gaining significant traction among the entire lot of SIM cards in Europe, acquiring a healthy 7% of the overall market, reports the research study.

In terms of the application of IoT in Europe, researchers anticipate the share of smart metering in the overall number of connections to decrease from 52% in 2017 t to 28% in 2020, with the boom in industrial and finance applications. The European telcos are investing different IoT applications with smart cities, fleet management, telematics, and smart homes being the four precise example discussed in this research report.

The competitive landscape of the Europe market for IoT has also been assessed in this research report by reviewing the profiles of the key enterprises functional in this market. The report attempts to offer a clear understanding of the Europe IoT market to participants operational in this market in an effort to help them in taking strategic decisions for the expansion of their businesses.

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