Agile IoT Market – Overview
Agile IoT is connecting us swiftly. Every day, every hour, every minute, devices are becoming connected. The Internet of Things (IoT) has gone from a buzzword floating through the echoes of Silicon Valley to a tangible and quickly advancing movement in the world of hardware. But, the effects of the Internet of Things are quickly rippling outward, causing immense changes to the environment surrounding it. And, as it turns out, the IoT revolution is forcing vast changes to companies who want to play in this valiant new world – and those companies are numerous.
The term agile manufacturing is often interpreted differently from the various stakeholders or experts managing production systems. To some extent machine and mechanical setups could be made agile by increasing the number of combinatory sets of mechanical, electrical and software parameters a machine can have. This should make the machine adaptable to many needs and many types of end products. However, agility could also be approached in making the production system as modular as possible, with independent and intelligent components or units cooperating with each other, to create the large number of combinatory configurations. The manufacturing setup is meant to be reusable, smart, and could be shared by many production processes at the same time.
According to a recent study report published by the Market Research Future, the global market of Agile IoT has witnessed an upsurge growth in recent years. The Agile IoT Market is growing rapidly over 20.9% of CAGR and is expected to reach at USD ~199.90 billion by the end of forecast period (2017 – 2023). MRFR Analysis indicates that the agile IoT have various components including wearable for self-tracking, open air crop and livestock monitoring using drones, to smart retail solutions for enhanced shopping experiences is a key driver for Agile IoT market. The Agile IoT is a win-win solution and it creates an open, shared, flexible IoT platform that consists of software and hardware gateways that are various sectors.
Agile IoT Market – Key Players
Agile IoT market appears to be highly competitive and fragmented due to the presence of a numerous large and small players operating in the market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. The study indicates large investments by multinational companies and startup emerging. The market demonstrates high growth prospect which is turn attracting several new entrants to the market.
Agile IoT Market Players:
- ByteLight, Inc. (U.S)
- Fujitsu Ltd. (Japan)
- General Electronic Corp. (U.S)
- LVX System (U.S)
- Panasonic Corp. (Japan)
- Qualcomm Inc. (U.S)
- PureLifi Ltd (U.S)
- Ibsentelecom Ltd. (U.S)
- Lightbee Corp. (U.S)
- Supreme Architecture Inc. (U.S)
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The factors contributing to the growth of the agile IoT market are: – the semiconductor industry that has been able to weather the fallout from the global financial crisis and realize several years of healthy growth – in part because of the widespread adoption of smartphones and tablets, which created demand for mobile and wireless applications. The industry’s average annual growth rate between 2010 and 2013 was about 5 percent. The IoT@Work architecture follows a layered pattern. The layers are defined as abstractions and function groups managing the IoT infrastructure at the lowest layer, i.e. devices and networks, and the IoT applications running on top. In between these two, the function groups include management and orchestration functions that deal with configuration and execution of applications on top of resources and services offered in the IoT infrastructure.
Agile IoT Global Market – Segments
The Agile IoT Market can be segmented in to 5 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Component: Comprises Hardware, Software.
Segmentation by Deployment: Comprises On-premises and Cloud.
Segmentation by Organization Size: Comprises Large, Small, Medium
Segmentation by Connectivity: Comprises LAN, Wi-Fi, Li-Fi, BLE, ZigBee, ZWave, LoRa, RF, Others
Segmentation by Vertical: Comprises Manufacturing, Healthcare, BFSI, Government, Public Sector, and others.
Agile IoT Market – Regional Analysis
MRFR asserts that North America region is leading in the Agile IoT market and holds the largest market share in the Agile IoT market; and is expected to continue the dominance with the largest market share during the forecast period. The countries in this region have established economies, which empowers them to strongly invest in R&D. The rapid digitalization across industry verticals, the increasing adoption of smart connected devices, and the technological advancements have further fueled the growth of the IoT Market in this region. North America is followed by Europe and APAC due the rapid development in the region.
North America’s dominance in the Agile IoT market is also attributed by market’s focus being on to the media and entertainment browsing pages mainly. The technological advancements in online shopping and high adoption of Agile IoT in eCommerce sector also exist. The study shows that Europe region is also showing a positive curve in growth graph in the Agile IoT market. The developing economies in Asia-pacific regions like China, Japan, India and others are showing high adoption in the Clickstream Analytics.
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