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Internet of Things is the interconnection of the computing devices and various objects through the existing Internet infrastructure. Evolution in the convergence of wireless technologies, internet and micro-electromechanical systems has made IoT and machine to machine (M2M) technologies possible.
Presently, 51% of the population lives in metro cities; hence, the IoT market has numerous opportunities to grow. Gaming would be one of the biggest technology trends that would happen on IoT in future. There are various challenges in IoT ecosystem due to which the ecosystem is yet to gain popularity amongst the people.
Lack of shared infrastructure, lack of common standards, control over the data, and data sharing are some of the challenges that must be addressed by the IoT to gain popularity. As IoT is a novel concept, a giant player in the IoT market named Cisco is developing Asia's first Internet of Things hub in Asia Pacific region. This concept would help the Asia Pacific region to create a smart city environment.
The global market can be segmented based on various technologies used to interconnect different entities, components, application, end-users and geography. The segmentation is done for the purpose of in-depth analysis of the entire IoT market. The technologies segment would be further segmented as Radio frequency Identification (RFID), Gateways, Cloud Management, Near Field Communications and Zigbee.
Market By Technology -
Radio frequency Identification (RFID)
Gateways
Cloud Management
Near Field Communications
Zigbee
Market By Components -
RFID
Pressure sensors
Network communications
Data processing
Market By Applications -
Environment monitoring
Infrastructure management
Industrial applications
Energy management
Medical and healthcare systems
Building
Home Automation
Transport systems.
Market By End User -
Retail
Energy & Power
Healthcare
Transportation
Telecom and IT
Industrial and commercial Constructions
Manufacturing.
Text and photos by Research and Markets, courtesy of Research and Markets.
