Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by Infinium Global Research on the IoT market provides in-depth analysis of segments and sub-segments in the BRICS as well as regional IoT market. The study also highlights the impact of drivers, restraints, and macro indicators on the BRICS and regional IoT market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of BRICS IoT market. According to the report, the BRICS IoT market is projected to grow at a CAGR of 26.83% over the forecast period of 2021-2027.
The BRIC IoT market was valued at USD 316.41 million in 2021 and is anticipated to reach USD 1316.94 million in 2027, growing with a CAGR of 26.83% during the projection period. IoT is the interconnection of computing devices and numerous objects through the existing Internet infrastructure. Development in the convergence of wireless technologies, the internet, and micro-electromechanical systems has made IoT and machine-to-machine (M2M) technologies possible. At present, 51% of the population lives in metro cities; hence, the IoT market has several opportunities to grow. Furthermore, gaming would be one of the biggest technology trends that would happen on IoT in the near future. There are numerous challenges in the IoT ecosystem owing to which the ecosystem is yet to gain popularity amongst the people. However, lack of shared infrastructure, dearth of common standards, control over the data, and data sharing are some of the challenges that must be addressed by the IoT to gain popularity. As IoT is an innovative concept, an enormous player in the IoT market named Cisco is emerging Asia’s first IoT hub in the region. This concept would help the BRIC region to create a smart city environment.
The significant factors contributing to the growth of the BRIC IoT market include the accelerating adoption of connecting devices and smartphones, followed by the increasing penetration of the internet in the region. In parallel, the developing implementation of automation in several industries and the increasing adoption of cloud computing are creating innumerable growth opportunities in the market over the coming years. Focus on emerging industry-specific solutions and increasing cross-domain partnerships to build an ecosystem of value is the critical success factor boosting the growth of the IoT market. Furthermore, the government is launching numerous initiatives and raising funds to promote the adoption of the internet of things. These programs have led to the growth of transformative and advanced IoT-based solutions. Smart city programs are anticipated to drive most of the IoT market in BRIC, with the industrial & manufacturing sectors and the healthcare segment generating strong demand. China’s economy is mainly adopting digitalization and is progressively implementing IoT licensed network technologies, which will further energize the growth of the market. On the other hand, the complex network infrastructure of IoT and the high consumption of power by the connecting devices are the major two factors that will have a negative impact on the rising demand of the market over the projection period.
The increasing trend of smartphones in India is one of the major factors that are boosting the growth of the IoT. Furthermore, rising internet penetration in India has been another major factor pouring the growth of the market. In the year 2017, the total number of internet users was anticipated to be 451 million and it is further expected to reach 604 million by the year 2020. Growing digitalization and government policies such as “Digital India” are boosting the growth of internet penetration in the country. China is projected to be the leading IoT market in the BRIC region. The IoT in the appearance of the “Internet Plus” part of the “Made in China 2025” plan is considered a big deal in an economy that has massive potential.
The report on BRICS IoT market covers segments such as component, and end user. On the basis of component, the sub-markets include hardware, software/platform, connectivity, and services. On the basis of end user, the sub-markets include transportation, healthcare, retail, energy and utilities, residential, government, insurance, and other.
The report provides profiles of the companies in the market such as Mediatek Inc., China Unicom (Hong Kong) Ltd., IBM Corporation, Xiaomi Inc., Microsoft Corporation, Huawei Investment & Holding Co., Ltd., China Telecom Corp. Ltd., Qualcomm Inc., Alibaba Group Holding Ltd., and Cisco Systems Inc..
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of IoT market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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