|By Business Wire||
|March 3, 2017 11:37 AM EST||
Research and Markets has announced the addition of the "Global Internet of Things Devices Market 2017-2021" report to their offering.
The global IoT devices market to grow at a CAGR of 3.72% during the period 2017-2021.
Global IoT Devices Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the revenue generated from the sales of IoT devices.
According to the report, the smart home concept is gaining ground rapidly, as consumers look to improve domestic convenience through electronic devices. This is an evolutionary development in the residential real-estate sector with the primary aim to make living more comfortable, convenient, secure, entertaining, and sustainable. Smart home technologies using advanced sensors are affordable and can be used by any average household to connect appliances such as heating modules, lighting systems, air conditioning units, computers, television sets, entertainment systems, security devices, and camera systems.
Further, the report states that security is the biggest concern for individual consumers and enterprises purchasing IoT devices. Connecting the physical world with the digital sphere requires the highest security standards to minimize the impacts of cyber security hacks. This is a big negating factor in the market, as most people lack assurance and are not 100% confident about integrating such technologies for the various devices they own.
- Large-scale benefits of using IoT devices
- Growing demand for smart homes and development of smart cities
- Rise in industrial automation
- Large-scale funding of IoT start-ups
- Improved energy efficiency
- Rising membership of ZigBee Alliance
- Growing privacy and security concerns
- Poor awareness hindering adoption
- Lack of infrastructure and connectivity issues
- Poor battery life
- Development of high-power processors for IoT devices
- Development of an open Wi-Fi network
- Growing diversity in IoT standards
- Samsung Electronics
- LG Electronics
- Seiko Epson
- Honeywell International
For more information about this report visit http://www.researchandmarkets.com/research/543vjr/global_internet
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