According to the market research report “IoT Communication Technologies Market: By Cellular Technologies (2G/3G, 4G); By Wireless Technologies (Wi-Fi, Bluetooth, ZigBee, Others); By Low Power Technologies (Licensed, Unlicensed); By Applications (Aerospace & Defense, Automotive, Computing, Others)-Forecast 2016-2021”, published by IndustryARC, estimates that North America will continue registering high growth till the end of forecast period.
The Internet of Things is the network of devices connected to the Internet, including smart-phones and tablets. These things collect and exchange data. The IoT technology is aimed at the creation of smart devices network to apprehend the surroundings effectively and offer alternatives for decision making as opposed to the conventional approach of treating the device/equipment as a single entity. Internet of Things technologies can help in gaining short-term economic advantages, if adopted properly it will streamline commercial and industrial operations, the result of which would be lower costs and greater profits. IoT Communication Technologies Market is anticipated to register healthy growth during the forecast period.
Scope & Regional Forecast of the IoT Communication Technologies Market
The growing scope in the field of cloud computing has been boosted the IoT Communication Technologies Market, as IoT services helped cloud computing platforms efficiently tackle storage and energy-related issues. Increasing urbanization and globalization is also expected to boost the significant growth for the market IoT communication technologies. In addition, rising demand for automation is also driving growth for this market.
Rising number of use cases in several end-use industries to improve productivity and bring process improvements are the key trends expected to drive the demand for the IoT Communication Technologies Market. The advancements in IoT wireless communication technologies and rising demand for data-driven services in a variety of areas are the key growth factors that are driving demand and growth for the market. However, growing security concerns regarding online data are poising threat to the market.
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North America is dominating the IoT Communication Technologies Market, in terms of revenue followed by Europe. Asia-Pacific is expected to drive significant growth for the market with the rising adoption rate of the Internet of Things in various industries such as automation, health-care, aerospace & defense. Developed nations and developing nations in the Rest of the World are expected to register substantial growth rate during the forecast period.
Segmentations & Key Players Involved in the IoT Communication Technologies Market
The IoT Communication Technologies Market can be broken down into various segmentations on the basis of –
Cellular Technologies: 2G/3G Networksand 4G Networks.
Wireless Technologies: Wi-Fi, Bluetooth, ZigBee, Wireless HART, Thread Others.
Low Power Technologies: Licensed Spectrum and Unlicensed Spectrum.
Applications: Aerospace & Defense, Automotive, Computing, Automation, Power & Energy, Infrastructure, Medical/Healthcare and Others.
Region: Americas, Europe, Asia-Pacific and Rest of the World.
Some of the key players involved in the IoT Communication Technologies Market are as follows:
Huawei Technologies Co. Ltd.
Telefonaktiebolaget L. M. Ericsson
On-Ramp Wireless, Inc.
NXP Semiconductor N.V.
Microchip Technology Corporation
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