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Global IoT Market to Grow at a CAGR of 31.72 till 2019

| February 19, 2015

TECH NAVIO

LONDON–()–TechNavio, a tech-focused research firm, has published a new report on the Global Internet of Things (IoT) Market, which is expected to grow at a CAGR of 31.72 percent from 2014-2019.

The new report draws attention to the increasing number of smart connected devices, which is expected to pass 17 billion in the next five years. All these interconnected devices are becoming increasingly difficult to manage, monitor and maintain, which will increase the demand for M2M and M2H communication.

IoT Conference - INTERNET OF THINGS WORLD FORUM 2015

“M2M allows machines to interact securely over a network. In a broader way, M2M increases IT efficiency for organizations in terms of automated BPM, ERP, and streamlined CRM processes. Since M2M and the IoT are interconnected and interdependent, emergence of M2M will be a huge trend for this market through the projected period,” says Faisal Ghaus, Vice President of TechNavio.

Additionally, the report highlights adoption of IPv6 as another key market trend. The IPv4 system limited network connectivity to 4.3 billion devices, which was not sufficient for the growing number of IoT-connected technology. However, IPv6 has the capacity to handle 3.4×10^38 unique IP addresses, which will facilitate better device management and encourage adoption of the IoT.

TechNavio currently has more than 3000 market research reports on a huge range of topics, including:

About TechNavio

TechNavio is a leading global technology research and advisory company.

Founded in 2003, TechNavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.

TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

 

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Category: News, Reports

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