Press Resease

IoT Devices Market by Device Type (Processor, Sensor, Connectivity IC and Others) for Building and Home Automation, Energy and Utilities, Manufacturing, Connected Logistics, BFSI, Transportation, Connected Health and Others): Global Industry Analysis, Size, Share, Growth, Trends, and forecast 2016 – 2024

Published Date: 19-Feb-2018 Category: Technology & Media Report Format : PDF Pages: 170 Report Code: ZMR-2631 Status : Published

Global Internet of things (IoT) devices market expected to reach USD 158,140. million in 2024 and is expected to grow at a CAGR of 23% between 2017 and 2024.

Description

Report Brief

  • The report covers forecast and analysis for the IoT devices market on a global and regional level
  • The report includes the positive and the negative factors that are influencing the growth of the market
  • Detailed information about the market opportunities are discussed
  • The key target audience for the market has been determined in the report
  • The revenue generated by the prominent industry players has been analyzed in the report
  • The market numbers have been calculated using top-down and the bottom-up approaches 
  • The IoT devices market has been analyzed using Porter’s Five Forces Analysis
  • The market is segmented on the basis of device, type, and application, which in turn bifurcated on regional level as well
  • All the segments have been evaluated based on the present and the future trends
  • The report deals with the in-depth quantitative and qualitative analyses of the IoT devices market
  • The report includes the detailed company profiles of the prominent market players

Market Summary

Overview

Internet of Things (IoT) is an ecosystem of connected devices in which electronic devices are connected to the internet. The sensor is used to communicate, collect and exchange data from one device to others. The data accumulated from these devices can be analyzed to optimize products, services, and operations. The concept of IoT can achieve operational efficiency and optimize business processes.

Value 

The global internet of things (IoT) devices market was valued USD 31,530. million in 2016 and it is expected to reach around 158,140. million in 2024. The global Internet of things (IoT) devices market is expected to grow at a CAGR of 23% between 2017 and 2024.

Drivers and Restraints

The major factor driving the growth of internet of things (IoT) devices market is increasing adoption of cloud platform across the developing regions. Cloud computing has generated around USD 67 billion revenue in 2015  and It is estimated to increase up to USD 162 billion by 2020. IoT Cloud is a platform designed to store and process Internet of Things (IoT) data. The cloud platform provides access to the device manufacturer and service providers for advanced analytics and monitoring.  Another driver for the growth of cloud adoption in IoT is its cost-effective services. It has been estimated that an organization can save more than 35% of the annual cost by adopting cloud computing technology. These factors will increase the revenue of IoT device market in near future. Owing to this, IoT device market will grow with a CAGR of 22.67% between2017 and 2024.

Reduction in the cost of connected devices is the opportunity for the market. The lack of consistency in interconnectivity, interoperability, and security issue is the challenging factors for the growth of the IoT devices market.

Global IoT Devices Market

Segmentation

The sensor segment is expected to register CAGR 23.63% from 2017 to 2024. High demand for IoT sensors in the transportation segment and the rising industrial IoT market are strongly driving the growth of the IoT sensors market. Additionally, increasing demand for the sensor in wearable technology and electronic device will boost the growth of sensor segment. There are many types of sensors available such as temperature sensor, humidity sensor, pressure sensor, flow sensor, accelerometer, magnetometer, touch sensor and others. Heart rate segment dominated the market in 2016. Owing to the increased heart disease issue across the globe is one of the key factors for this segment growth. Heart rate sensors enable individuals to obtain real-time data and allow tracking their heart rate from anywhere anytime. North America accounted the largest market share in the heart rate monitor sensor segment. 

The smart door locks industry is anticipated to grow at a significant CAGR of 23.42% and currently valued at USD 4,497.58 Million. This is due to increase in security & privacy concerns across the world and advancements in wireless communication technologies will fuel the growth of door lock segment. In addition, the rise in disposable income of consumers, and increasing need to establish connectivity across all the electronic equipment of the house will raise the revenue of door locks segment.
BSFI segment is expected to grow with CAGR of 25.77% during the forecasted period. Internet of things (IoT) in banking, financial services, and insurance (BFSI) sector has created a platform where the physical, virtual, and the real world is integrated and all the connected dots interact with each other. Technological advancements and continued innovation has impacted BFSI industry’s operating models and reshape banking system. Considering such factors it is anticipated segment will be valued at around USD 13,589.31 million. 

Industry Players

The report includes detailed profiles of the prominent market players that are trending in the market. The list of the players that are compiled in the report areAmazon, Ecobee, Google LLC, Honeywell International Inc., LG Electronics, Inc., Motorola Mobility LLC, Nest Labs, Pebble, Qualcomm Technologies, Inc., Radio Thermostat Company of America, SAMSUNG, Sony Corporation and others.

The prominent market players maintain the competitive edge in the global market by making investments in the mergers and acquisitions and by increasing their product portfolio.On April 24, 2014, Zebra Technologies had acquired Motorola's enterprise unit for USD 3.5 billion. The companies’ shared commitment to innovation will help customers harness powerful technology trends like the Internet of Things (IoT), location and motion sensing and mobile enterprise cloud computing.

Table Of Content

  • Chapter 1. Introduction
    • 1.1. Report description and scope
    • 1.2. Research scope
    • 1.3. Research methodology
      • 1.3.1. Market research process
      • 1.3.2. Market research methodology
  •  
  • Chapter 2. Executive Summary
    • 2.1. Global IoT Devices market, 2016-2024 (USD Million)
    • 2.2. Global IoT Devices market: Snapshot
  •  
  • Chapter 3. IoT Devices - Market Dynamics
    • 3.1. Introduction
    • 3.2. Market drivers
      • 3.2.1. Increasing Wireless Networking Technologies
      • 3.2.2. Increase in Cloud Platform Adoption Market
    • 3.3. Restraints
      • 3.3.1. Concerns Regarding Security and Privacy
      • 3.3.2. Interoperability and Lack of Common Standards
    • 3.4. Opportunities
      • 3.4.1. Increasing IoT Investments
      • 3.4.2. Advent of Advanced Data Analytics and Data Processing
      • 3.4.3. Reduction in the Cost of IoT Connected Devices
    • 3.5. Porter’s five forces analysis
      • 3.5.1. Bargaining power of suppliers
      • 3.5.2. Bargaining power of buyers
      • 3.5.3. Threat from new entrants
      • 3.5.4. Threat of new substitutes
      • 3.5.5. Degree of competition
    • 3.6. Market attractiveness analysis
      • 3.6.1. Market attractiveness analysis, by device segment
      • 3.6.2. Market attractiveness analysis, by product type segment
      • 3.6.3. Market attractiveness analysis, by application segment
      • 3.6.4. Market attractiveness analysis, by regional segment
  •  
  • Chapter 4. Global IoT Devices market - Competitive Landscape
    • 4.1. Company market share, 2016 (Subject To Data Availability)
    • 4.2. Strategic Development
      • 4.2.1. Acquisitions & Mergers
      • 4.2.2. New Product Launch
      • 4.2.3. Agreements, Partnerships, Collaborations and Joint Ventures
      • 4.2.4. Research and Development, Product and Regional Expansion
  •  
  • Chapter 5. Global IoT Devices Market - Device Segment Analysis
    • 5.1. Global IoT Devices market: device overview
      • 5.1.1. Global IoT Devices market revenue share, by device, 2016 and 2024
    • 5.2. Processor
      • 5.2.1. Processor IoT Devices market, 2016-2024 (USD Million)
    • 5.3. Sensor
      • 5.3.1. Sensor IoT Devices market, 2016-2024 (USD Million)
    • 5.4. Connectivity IC
      • 5.4.1. Connectivity IC IoT Devices market, 2016-2024 (USD Million)
    • 5.5. Suite-based workflow systems
      • 5.5.1. Suite-based workflow systems IoT Devices market, 2016-2024 (USD Million)
    • 5.6. Others(Memory Device and Logic Device)
      • 5.6.1. Others(Memory Device and Logic Device)IoT Devices market, 2016-2024 (USD Million)
  •  
  • Chapter 6. Global IoT Devices Market -Product Type Segment Analysis
    • 6.1. Global IoT Devices market: Product Type overview
      • 6.1.1. Global IoT Devices market revenue share, by Product Type, 2016 and 2024
    • 6.2. Fitness & Heart Rate Monitor
      • 6.2.1. Global IoT Devices market by Fitness & Heart Rate Monitor 2016-2024 (USD Million)
    • 6.3. Refrigerators
      • 6.3.1. Global IoT Devices market by Refrigerators 2016-2024 (USD Million)
    • 6.4. Lighting System
      • 6.4.1. Global IoT Devices market by Lighting System2016-2024 (USD Million)
    • 6.5. Door Locks
      • 6.5.1. Global IoT Devices market by Door Locks2016-2024 (USD Million)
    • 6.6. Thermostats
      • 6.6.1. Global IoT Devices market by Thermostats2016-2024 (USD Million)
    • 6.7. Glasses
      • 6.7.1. Global IoT Devices market by Glasses2016-2024 (USD Million)
    • 6.8. Smart Bluetooth Trackers
      • 6.8.1. Global IoT Devices market by Smart Bluetooth Trackers2016-2024 (USD Million)
    • 6.9. Connected Cars
      • 6.9.1. Global IoT Devices market by Connected Cars2016-2024 (USD Million)
    • 6.10. Radar
      • 6.10.1. Global IoT Devices market by Radar2016-2024 (USD Million)
    • 6.11. Others
      • 6.11.1. Global IoT Devices market by Others 2016-2024 (USD Million)
  •  
  • Chapter 7. Global IoT Devices Market -Application Segment Analysis
    • 7.1. Global IoT Devices market: Application overview
      • 7.1.1. Global IoT Devices market revenue share for application, 2016 and 2024.
    • 7.2. Building and Home Automation
      • 7.2.1. Global IoT Devices market revenue share, for Building and Home Automation, 2016 and 2024
    • 7.3. Energy and Utilities
      • 7.3.1. Global IoT Devices market revenue share for Energy and Utilities, 2016 and 2024.
    • 7.4. Manufacturing
      • 7.4.1. Global IoT Devices market revenue share for Manufacturing, 2016 and 2024
    • 7.5. Connected Logistics
      • 7.5.1. Global IoT Devices market revenue share for Connected Logistics, 2016 and 2024
    • 7.6. BFSI
      • 7.6.1. Global IoT Devices market revenue share for BFSI, 2016 and 2024
    • 7.7. Transportation
      • 7.7.1. Global IoT Devices market revenue share for Transportation, 2016 and 2024
    • 7.8. Connected Health
      • 7.8.1. Global IoT Devices market revenue share for Connected Health, 2016 and 2024
    • 7.9. Others
      • 7.9.1. Global IoT Devices market revenue share, for others, 2016 and 2024
  •  
  • Chapter 8. Global IoT Devices Market - Regional Segment Analysis
    • 8.1. Global IoT Devices market: Regional overview
      • 8.1.1. Global IoT Devices market revenue share, by region, 2016 and 2024
    • 8.2. North America
      • 8.2.1. North America IoT Devices market revenue, by device, 2016-2024 (USD Million)
      • 8.2.2. North America IoT Devices market revenue, by product Type, 2016-2024 (USD Million)
      • 8.2.3. North America IoT Devices market revenue, by application, 2016-2024 (USD Million)
      • 8.2.4. The U.S.
        • 8.2.4.1. The U.S.IoT devices market revenue, by device , 2016-2024 (USD Million)
        • 8.2.4.2. The U.S.IoT devices market revenue, by product type, 2016-2024 (USD Million)
        • 8.2.4.3. The U.S. IoT devices market revenue, by application, 2016-2024 (USD Million)
      • 8.2.5. Rest of North America
        • 8.2.5.1. Rest of North America IoT devices market revenue, by device, 2016-2024 (USD Million)
        • 8.2.5.2. Rest of North America IoT devices market revenue, by product type, 2016-2024 (USD Million)
        • 8.2.5.3. Rest of North America IoT devices market revenue, by application, 2016-2024 (USD Million)
    • 8.3. Europe
      • 8.3.1. EuropeIoT devices market revenue, by device, 2016-2024 (USD Million)
      • 8.3.2. EuropeIoT devices market revenue, by Product Type, 2016-2024 (USD Million)
      • 8.3.3. EuropeIoT devices market revenue, by application, 2016-2024 (USD Million)
      • 8.3.4. . France
        • 8.3.4.1. FranceIoT devices market revenue, by device , 2016-2024 (USD Million)
        • 8.3.4.2. FranceIoT devices market revenue, by product type, 2016-2024 (USD Million)
        • 8.3.4.3. FranceIoT devices market revenue, by application, 2016-2024 (USD Million)
      • 8.3.5. The U.K.
        • 8.3.5.1. The U.K.IoT devices market revenue, by device , 2016-2024 (USD Million)
        • 8.3.5.2. The U.K.IoT devices market revenue, by product type, 2016-2024 (USD Million)
        • 8.3.5.3. The U.K.IoT devices market revenue, by application, 2016-2024 (USD Million)
      • 8.3.6. Spain
        • 8.3.6.1. SpainIoT devices market revenue, by device , 2016-2024 (USD Million)
        • 8.3.6.2. SpainIoT devices market revenue, by product type, 2016-2024 (USD Million)
        • 8.3.6.3. SpainIoT devices market revenue, by application, 2016-2024 (USD Million)
      • 8.3.7. Germany
        • 8.3.7.1. Germany IoT devices market revenue, by device, 2016-2024 (USD Million)
        • 8.3.7.2. Germany IoT devices market revenue, by product type, 2016-2024 (USD Million)
        • 8.3.7.3. Germany IoT devices market revenue, by application, 2016-2024 (USD Million)
      • 8.3.8. Italy
        • 8.3.8.1. Italy IoT devices market revenue, by device, 2016-2024 (USD Million)
        • 8.3.8.2. Italy IoT devices market revenue, by product type, 2016-2024 (USD Million)
        • 8.3.8.3. Italy IoT devices market revenue, by application, 2016-2024 (USD Million)
      • 8.3.9. Rest of Europe
        • 8.3.9.1. Rest of EuropeIoT devices market revenue, by device , 2016-2024 (USD Million)
        • 8.3.9.2. Rest of EuropeIoT devices market revenue, by product type, 2016-2024 (USD Million)
        • 8.3.9.3. Rest of EuropeIoT devices market revenue, by application, 2016-2024 (USD Million)
    • 8.4. Asia Pacific
      • 8.4.1. Asia PacificIoT devices market revenue, by device, 2016-2024 (USD Million)
      • 8.4.2. Asia PacificIoT devices market revenue, by Product Type, 2016-2024 (USD Million)
      • 8.4.3. Asia PacificIoT devices market revenue, by application, 2016-2024 (USD Million)
      • 8.4.4. China
        • 8.4.4.1. ChinaIoT devices market revenue, by device , 2016-2024 (USD Million)
        • 8.4.4.2. ChinaIoT devices market revenue, by product type, 2016-2024 (USD Million)
        • 8.4.4.3. ChinaIoT devices market revenue, by application, 2016-2024 (USD Million)
      • 8.4.5. Japan
        • 8.4.5.1. JapanIoT devices market revenue, by device , 2016-2024 (USD Million)
        • 8.4.5.2. Japan.IoT devices market revenue, by product type, 2016-2024 (USD Million)
        • 8.4.5.3. JapanIoT devicesmarket revenue, by application, 2016-2024 (USD Million)
      • 8.4.6. India
        • 8.4.6.1. IndiaIoT devices market revenue, by device , 2016-2024 (USD Million)
        • 8.4.6.2. IndiaIoT devices market revenue, by product type, 2016-2024 (USD Million)
        • 8.4.6.3. IndiaIoT devicesmarket revenue, by application, 2016-2024 (USD Million)
      • 8.4.7. Southeast Asia
        • 8.4.7.1. Southeast AsiaIoT devices market revenue, by device , 2016-2024 (USD Million)
        • 8.4.7.2. Southeast AsiaIoT devices market revenue, by product type, 2016-2024 (USD Million)
        • 8.4.7.3. Southeast AsiaIoT devicesmarket revenue, by application, 2016-2024 (USD Million)
      • 8.4.8. Rest of Asia Pacific
        • 8.4.8.1. Rest of Asia PacificIoT devices market revenue, by device , 2016-2024 (USD Million)
        • 8.4.8.2. Rest of Asia PacificIoT devices market revenue, by product type, 2016-2024 (USD Million)
        • 8.4.8.3. Rest of Asia PacificIoT devicesmarket revenue, by application, 2016-2024 (USD Million)
    • 8.5. Latin America
      • 8.5.1. Latin AmericaIoT devices market revenue, by device, 2016-2024 (USD Million)
      • 8.5.2. Latin AmericaIoT devices market revenue, by Product Type, 2016-2024 (USD Million)
      • 8.5.3. Latin AmericaIoT devices market revenue, by application, 2016-2024 (USD Million)
      • 8.5.4. Brazil
        • 8.5.4.1. BrazilIoT devices market revenue, by device , 2016-2024 (USD Million)
        • 8.5.4.2. BrazilIoT devices market revenue, by product type, 2016-2024 (USD Million)
        • 8.5.4.3. BrazilIoT devicesmarket revenue, by application, 2016-2024 (USD Million)
      • 8.5.5. Rest of Latin America
        • 8.5.5.1. Rest of Latin AmericaIoT devices market revenue, by device , 2016-2024 (USD Million)
        • 8.5.5.2. Rest of Latin AmericaIoT devices market revenue, by product type, 2016-2024 (USD Million)
        • 8.5.5.3. Rest of Latin AmericaIoT devicesmarket revenue, by application, 2016-2024 (USD Million)
    • 8.6. Middle East and Africa
      • 8.6.1. Middle East and Africa IoT devices market revenue, by device, 2016-2024 (USD Million)
      • 8.6.2. Middle East and Africa IoT devices market revenue, by Product Type, 2016-2024 (USD Million)
      • 8.6.3. Middle East and Africa IoT devices market revenue, by application, 2016-2024 (USD Million)
      • 8.6.4. GCC Countries
        • 8.6.4.1. GCC Countries IoT devices market revenue, by device , 2016-2024 (USD Million)
        • 8.6.4.2. GCC Countries IoT devices market revenue, by product type, 2016-2024 (USD Million)
        • 8.6.4.3. GCC Countries IoT devicesmarket revenue, by application, 2016-2024 (USD Million)
      • 8.6.5. Southern Africa
        • 8.6.5.1. Southern Africa IoT devices market revenue, by device , 2016-2024 (USD Million)
        • 8.6.5.2. Southern Africa IoT devices market revenue, by product type, 2016-2024 (USD Million)
        • 8.6.5.3. Southern Africa IoT devicesmarket revenue, by application, 2016-2024 (USD Million)
      • 8.6.6. Rest of MEA
        • 8.6.6.1. Rest of MEAIoT devices market revenue, by device , 2016-2024 (USD Million)
        • 8.6.6.2. Rest of MEAIoT devices market revenue, by product type, 2016-2024 (USD Million)
        • 8.6.6.3. Rest of MEAIoT devicesmarket revenue, by application, 2016-2024 (USD Million)
  •  
  • Chapter 9. Company Profile
    • 9.1. Amazon, Ecobee
      • 9.1.1. Overview
      • 9.1.2. Financials
      • 9.1.3. Product portfolio
      • 9.1.4. Business strategy
      • 9.1.5. Recent developments
    • 9.2. Google LLC
      • 9.2.1. Overview
      • 9.2.2. Financials
      • 9.2.3. Product portfolio
      • 9.2.4. Business strategy
      • 9.2.5. Recent developments
    • 9.3. Honeywell International Inc
      • 9.3.1. Overview
      • 9.3.2. Financials
      • 9.3.3. Product portfolio
      • 9.3.4. Business strategy
      • 9.3.5. Recent developments
    • 9.4. LG Electronics, Inc
      • 9.4.1. Overview
      • 9.4.2. Financials
      • 9.4.3. Product portfolio
      • 9.4.4. Business strategy
      • 9.4.5. Recent developments
    • 9.5. Motorola Mobility LLC
      • 9.5.1. Overview
      • 9.5.2. Financials
      • 9.5.3. Product portfolio
      • 9.5.4. Business strategy
      • 9.5.5. Recent developments
    • 9.6. Nest Labs
      • 9.6.1. Overview
      • 9.6.2. Financials
      • 9.6.3. Product portfolio
      • 9.6.4. Business strategy
      • 9.6.5. Recent developments
    • 9.7. Pebble
      • 9.7.1. Overview
      • 9.7.2. Financials
      • 9.7.3. Product portfolio
      • 9.7.4. Business strategy
      • 9.7.5. Recent developments
    • 9.8. Qualcomm Technologies, Inc.,
      • 9.8.1. Overview
      • 9.8.2. Financials
      • 9.8.3. Product portfolio
      • 9.8.4. Business strategy
      • 9.8.5. Recent developments
    • 9.9. Radio Thermostat Company of America
      • 9.9.1. Overview
      • 9.9.2. Financials
      • 9.9.3. Product portfolio
      • 9.9.4. Business strategy
      • 9.9.5. Recent developments
    • 9.10. SAMSUNG
      • 9.10.1. Overview
      • 9.10.2. Financials
      • 9.10.3. Product portfolio
      • 9.10.4. Business strategy
      • 9.10.5. Recent developments
    • 9.11. Sony Corporation
      • 9.11.1. Overview
      • 9.11.2. Financials
      • 9.11.3. Product portfolio
      • 9.11.4. Business strategy
      • 9.11.5. Recent developments

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global IoT Devices market. Zion Market Research has collected and analyzed key data belong to the global IoT Devices market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of IoT Devices across the world has been calculated through primary and secondary research.

Zion Market Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Market Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the IoT Devices industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment, and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases, and market reports

News articles, press releases, and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the IoT Devices market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split into segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage, and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.
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