SOURCE: Transparency Market Research, PVT LTD.

SOURCE: Future Market Insights

Future Market Insights

May 19, 2015 06:25 ET

Global Internet of Everything (IoE) Market Will Be Worth US$ 7,130.4 Billion by 2020 by Future Market Insights

VALLEY COTTAGE, NY--(Marketwired - May 19, 2015) - Future Market Insights (FMI), in its recent report titled “Global Internet of Everything (IoE) Market: Global Industry Analysis and Opportunity Assessment 2014-2020” indicates that the global IoE market is projected to expand at a 16.4% CAGR through 2020 to reach a valuation of US$ 7,130.4 billion.

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Increased spending on technology and proliferation of connected devices are the main factors driving the growth of the global IoE market. Rising demand for ICT goods, especially in the Asia Pacific region is also anticipated to provide an impetus to the global IoE market. Emergence and growth of big data is another factor that will augur well for the prospects of the global IoE market.

The global internet of everything market is broadly segmented into two verticals: consumer and business to business (B2B). The consumer vertical -- which had a valuation of US$ 624.3 billion and over 25% share of the global IoE market -- was the dominant segment in 2013. However, the segment isexpected to lose 190 BPS to B2B vertical and the B2B segment will outpace consumer vertical segment in terms of revenue share by 2020.

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The B2B vertical is further sub-segmented into the following sectors:

  • Manufacturing
  • Retail
  • Transportation
  • Public
  • Communication and media
  • Utility
  • BFSI (banking, financial services and insurance)
  • Healthcare

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According to FMI’s analysis, manufacturing and public sector had a sizeable market share of the global IoE market in 2013. The manufacturing sector accounted for 34.1%, whereas the public sector accounted for 20.3% share of the global internet of everything market in 2013. These two segments are projected to witness steady CAGRs through 2020; however, it is the healthcare sector which will witness the highest CAGR among the other sub-segments in the B2B vertical.

The B2B component segment is further sub-segmented on the basis of key components and these include:

  • Intelligent system
  • Infrastructure enablement spending
  • Services enablement spending

Among these sub-segments, intelligent system was the largest sub-segment and had a valuation of US$ 1,524.5 billion in 2014. It is anticipated that this sub-segment will witness a CAGR of over 15% through 2020. On the other hand, the infrastructure enablement spending sub-segment is projected to witness the fastest CAGR of 24.1% to reach a valuation of US$ 1,160.5 billion by 2020.

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FMI has analysed the global internet of everything market in seven key regions -- Middle East & Africa, Asia Pacific, Japan, North America, Latin America, Eastern Europe, and Western Europe. Among these regions, North America, Western Europe, and Asia Pacific dominated the IoE market in 2013. North America had a market share of over one-third of overall IoE market in 2013 and it is projected to expand at a CAGR of 14.3% through 2020. Western Europe and Asia Pacific had a share of over 20% in the global IoE market in 2013. While both of these regions are projected to exhibit healthy CAGRs through 2020, the growth of the IoE market in Asia Pacific will be especially phenomenal. It is estimated that the global internet of everything market will witness a CAGR of over 19% in the Asia Pacific region.

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Mergers and acquisitions (M&A) are a key trend in the global internet of everything market and key players are actively looking to consolidate their position through M&As. IBM Corporation, Cisco Systems Inc., Apple Inc., Vodafone Group Plc., Accenture Inc., Google Inc., Telefonica S.A., Hewlett-Packard Company and Samsung Electronics Co. Ltd. are some of the leading companies in the global internet o everything market.

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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

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