Market Highlights
The global agile IoT market is predicted to touch USD 199.90 billion at a 20.9% CAGR over the forecast period (2017-2023), reveals the latest Market Research Future (MRFR) report. Agile IoT helps users to build IoT applications and also control connected devices through a modular IoT gateway. These services offer support in the execution of IoT applications, protocol interoperability, data and device management, and external cloud communication. It has a huge range of applications including BFSI, government, manufacturing, various public sectors, and healthcare. Agile IoT has several components, including smart retail solutions for an improved shopping experience, livestock and open-air crop monitoring using drones, and wearables for self-tracking.
Various factors are pushing the growth of the agile IoT market. These factors, in accordance to the Market Research Future (MRFR) report, include growing adoption of smartphones and tablets, rapid growth in the semiconductor industry, increasing demand for wireless applications, and increasing investments in R&D. Additional factors pushing the market growth include rapid technological advancements, growing demand for connected devices, rapid industrialization, and upgradation of numerous wireless connecting devices running on RF, LoRa, ZWave, ZigBee, BLE, and Wi-Fi.
Segmentation:
The Market Research Future report offers a wide segmental analysis of the agile IoT market based on component, connectivity, deployment, organization size, and vertical.
Based on the component, the agile IoT market is segmented into services, software, and hardware.
Based on connectivity, the agile IoT market is segmented into RF, LoRa, ZWave, ZigBee, BLE, Li-Fi, Wi-Fi, LAN, and others.
Based on deployment, the agile IoT market is segmented into on-premises and cloud.
Based on organization size, the agile IoT market is segmented into small, medium, and large.
Based on vertical, the agile IoT market is segmented into the public sector, government, healthcare, manufacturing, BFSI, and others.
Regional Analysis
Based on the region, agile IoT market report covers growth opportunities and the latest trends across the Asia Pacific, (APAC), Europe, North America, and Rest of the World (RoW). Of these, North America will dominate the market over the forecast period. The countries in this region have established economies that empower them to invest in research and development. Technological advancements, growing adoption of smart connected devices, and rapid digitalization are also driving the growth of the market in this region. North America’s dominance in the market is also attributed to the focus of the market being on the entertainment and media browsing pages. Advancements in technology in online shopping coupled with increasing adoption of agile IoT in the eCommerce sector are also having a positive impact on market growth.
The agile IoT market in the Asia Pacific region will have the second largest share over the forecast period. It is predicted to grow at a tremendous rate due to the increasing adoption of agile IoT solutions in enterprises to develop an agile IoT infrastructure. The developing economies in this region- India, Japan, China, and others, are showing increasing adoption of agile IoT, which again is contributing to the market growth.
The agile IoT market in the European region is also predicted to show positive growth over the forecast period.
Key Players
The agile IoT market is highly competitive and fragmented owing to the presence of several small and large players operating in this market. Key strategies adopted by these players to create a foothold in the market include expansion, acquisition, agreement and partnership, and product launch. The market has high growth prospects that are attracting new entrants.
Leading players profiled in the agile IoT market report include Supreme Architecture Inc. (U.S), Lightbee Corp. (U.S), Ibsentelecom Ltd. (U.S), PureLifi Ltd (U.S), Qualcomm Inc. (U.S), Panasonic Corp. (Japan), LVX System (U.S), General Electronic Corp. (U.S), Fujitsu Ltd. (Japan), and ByteLight, Inc. (U.S), among others.
May 2019- Developers of Brainium Core software, Octonion, and SmartEdge Agile have acquired Microsoft’s latest IoT Plug and Play. This IoT Plug and Play has been specially designed to aid IoT developers and software integrators to quickly pilot, prototype, and offer end-to-end IoT solutions with Azure IoT certified devices. Developers who invest in SmartEdge Agile with IoT Plug and Play can have access to Azure IoT Central, providing tools and resources that allow developers to connect, monitor, manage, and also scale their IoT assets.