****** Internet Of Things Market To Expand At A Significant CAGR Of Over 19% Between 2016 And 2023

According to a new market report published by Credence Research, Inc. “Internet of Things Market By Type (Hardware, Software, Service), By Software (Data Management, Security, Analytics, Communication, Other Software), By Service (Consulting, Implementation & Integration, Operation Management, Other Services), By Deployment Model (On-premise, Cloud-based), By End-User Vertical (Consumer Vertical, B2B Vertical), By B2B Vertical (Public Sector, Retail, BFSI, Healthcare, Manufacturing, Energy & Utility, IT & Telecom, Transportation) – Growth, Share, Opportunities & Competitive Analysis, 2016 -2023”, the ****** internet of things market is expected to witness a steady growth, expanding at a CAGR of over 19% from 2016 to 2023.

Browse the Internet of Things Market By Type (Hardware, Software, Service), By Software (Data Management, Security, Analytics, Communication, Other Software), By Service (Consulting, Implementation & Integration, Operation Management, Other Services), By Deployment Model (On-premise, Cloud-based), By End-User Vertical (Consumer Vertical, B2B Vertical), By B2B Vertical (Public Sector, Retail, BFSI, Healthcare, Manufacturing, Energy & Utility, IT & Telecom, Transportation) – Growth, Share, Opportunities & Competitive Analysis, 2016 -2023 report at https://www.credenceresearch.com/report/internet-of-things-iot-market

Market Insights

Growing digitization of business models both front-end and back-end across major end-user verticals and increasing government initiatives and support to deploy IoT technologies in small- and mid-sized enterprises is driving growth of the internet of things market worldwide. However, high cost associated with deployment of connected devices and intelligent systems is hampering growth of the market especially in developing regions such as Asia-Pacific and Latin America.

Competitive Insights:

:

  • Growing adoption of cloud-based IoT solution and platform to intensify competition among players in the market
  • Large vendors are focusing on acquiring regional players
  • Introduction of advanced connected systems and sensors by vendors

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