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IoT Infrastructure Market Size
- Report ID: GMI2104
- Published Date: Sep 2017
- Report Format: PDF
IoT Infrastructure Market Size
IoT Infrastructure Market size was valued at over USD 15 billion in 2016 and will grow at more than 25% CAGR estimation from 2017 to 2024.
Rising investments in smart city projects across the globe is anticipated to drive the IoT infrastructure market growth. Smart cities offer a wide range of connectivity and computing options that can be implemented to the existing setup in order to optimize the efficiency. Challenges within city transportation, energy management and infrastructure are addressed with the use of such technologies. Implementation of IoT solutions in cities allows them to make use of the technology and data to improvise the infrastructure as well as services. Increasing demand for efficient utilization of resources across the urban areas further escalates the industry adoption.
| Report Attribute | Details |
|---|---|
| Base Year: | 2016 |
| IoT Infrastructure Market Size in 2016: | 15 Billion (USD) |
| Forecast Period: | 2017 to 2024 |
| Forecast Period 2017 to 2024 CAGR: | 25% |
| 2024 Value Projection: | 130 Billion (USD) |
| Historical Data for: | 2013 to 2016 |
| No. of Pages: | 140 |
| Tables, Charts & Figures: | 166 |
| Segments covered: | Platform, Technology, Component, Application and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Privacy & security concerns related to these IoT network connections is predicted to restrain the market growth. Cyber-attacks can eliminate the efficiency gains and unguarded networks will make the smart cities, buildings and homes vulnerable to potential security threats. Also, lack of laws & regulations governing smart cities might pose a challenge to growth.
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IoT Infrastructure Market Scope
