Internet of Things Ecosystem is Projected to Reach 27.8 Billion Connected Autonomous Things by 2020

Developments in Digitization & Networking Drives the Concept of Internet of Things, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Internet of Things (IoT). Internet of Things ecosystem is projected to reach 27.8 billion connected autonomous things by 2020, driven by rapid developments in digitization & networking and growing efforts to bring all electronic devices under the digital fold.

Essentially the future of information technology, Internet of Things (IoT) revolves around connecting passive objects into “Things” that can generate, receive and send data using IP connectivity. IoT enables the creation of an information-rich ecosystem that enriches the modern connected way of life. As the platform for bringing billions of electronic gadgets into the digital fold, IoT represents the most disruptive technology of the 21^st century, attracting an explosion of venture capital investments. Defined as a network of ubiquitous smart physical objects embedded with electronics, sensors, software, and connectivity elements to sense, communicate and interact with the external environment, IoT is set to change the way businesses and consumers function. The transformation produced by IoT will be comparable to the global proliferation of the all-conquering Internet and rapid consumerization of smartphones. 

The ability to connect multiple devices together, gather and analyze raw data produced by these devices, and transform the raw data into usable information makes IoT the next logical step forward in building an intelligent world. A key factor enabling widespread proliferation of IoT technology is the steady rise in number of connected devices capable of establishing connection with other devices over the Internet. While PCs, smartphones and other computing devices have been successful at establishing inter-device connectivity and information exchange, the emergence of several new hitherto passive devices such as watches, refrigerators etc. with IP connectivity will take IoT to the next level. With wireless communication capabilities now going beyond the traditional devices to also penetrate cars, TVs, digital cameras, air conditioners, light bulbs, refrigerators, and stereos among others, the number and type of devices connected to IP networks is surging at exponential rates.

The evolving era of Internet of Things (IoT) is poised to revolutionize industries such as manufacturing/processing, transportation systems, utilities, healthcare, government infrastructure, and consumer appliances. Connected cars, industrial automation, transportation management, smart grid applications, environmental monitoring, infrastructure management, energy management and home automation applications will all see the use of IoT concepts. Developments in sensor technologies, micro-electromechanical systems (MEMS), and Internet infrastructure and communication standards are spurring the importance of IoT as a technology platform for enabling the concept of a connected world.

As stated by the new market research report on Internet of Things Europe represents the largest region worldwide, accounting for a majority of the installed base of connected devices in the IoT ecosystem. Asia-Pacific ranks as the fastest growing region with a CAGR of 43.8% over the analysis period. The growth in the region is driven by steady economic growth, rapid development of the telecommunication infrastructure, electronic lifestyles of consumers, and robust investments in industrial digitalization.

Key players covered in the report include semiconductor manufacturers, software developers, hardware manufacturers & device/equipment manufacturers/vendors and network connectivity providers operating in the growing IOT ecosystem such as Alcatel-Lucent S.A., Amazon Web Services, Apple Inc., ARM Ltd., AT&T, Inc., Atmel Corporation, Bosch Software Innovations GmbH, Cisco Systems, Inc., Ericsson, Freescale Semiconductor, Inc.  , General Electric Company, Google, Inc., IBM Corporation, Intel Corporation, Microsoft Corporation, NXP Semiconductors NV, Oracle Corporation, PTC, Inc., Qualcomm Technologies, Inc., Samsung Electronics Co., Ltd, SAP SE, Texas Instruments.

The research report titled “Internet of Things: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, product innovations and strategic industry activities of major companies worldwide. The report provides market estimates and projections for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, and Rest of Europe), Asia-Pacific, Latin America, and Rest of World. The global market is also analyzed by End-Use Sectors such as Consumer, Industrial/Business and Automotive.