The globalinternet of things market is growing due to the adoption of the cloud platform.The initiation of advanced data analytics and data processing, and reduction inthe cost of connected devices are some of the other factors contributing to thegrowth of the IoT market. MarketsandMarkets forecasts the global internet ofthings market size to grow from USD 170.57 Billion in 2017 to USD 561.04Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 26.9% during2017–2022.
Browse 230market data Tables and 48 Figures spread through 162 Pages and in-depth TOC on"global internet ofthings market bySoftware Solution (Real-Time Streaming Analytics, Security Solution, DataManagement, Remote Monitoring, and Network Bandwidth Management), Service,Platform, Application Area, and Region - Global Forecast to 2022"
There areseveral established players in this market, such as Google Inc. (US),Hewlett-Packard Enterprise (US), Amazon Web Services (US), Bosch SoftwareInnovation GMBH (Germany), General Electronics (US), Intel Corporation (US),SAP SE (Germany), Cisco Systems, Inc. (US), Microsoft Corporation (US), OracleCorporation (US), International Business Machine (IBM) Corporation (US), andPTC Inc. (US). These leading players have adopted various strategies, such aspartnerships, collaborations, agreements, mergers and acquisitions, and newproduct developments, to achieve growth in the global IoT market.
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IBM Corporation is one of the leadingplayers in the global internet of things market. The company has adopted bothorganic and inorganic strategies to enhance its presence in the market. Itentered into various partnerships and strategic alliances with local as well asglobal players. For instance, in March 2017, IBM announced its partnership withVisa. This partnership enabled IBM to combine its Watson IoT platform withVisa’s token technology. Moreover, both the companies deployed a token sharingarchitecture using a device managed by Big Blue’s cloud infrastructure. InNovember 2016, IBM launched its Watson IoT consulting solution that allowsdevelopers to quickly connect, build, and manage IoT applications andsolutions.
CiscoSystems, Inc. isanother major vendor in the global internet of things market. The company has astrong presence worldwide, including North America, Asia Pacific (APAC), andEurope. It is a seller of architecture and solutions, based onmachine-to-machine communication devices. The company has adopted the inorganicgrowth strategy to enhance its presence in the market. For instance, in April2016, it partnered with SAS, one of the leading companies dealing withanalytics, business intelligence, and data management software. Thispartnership enabled Cisco to validate the design of IoT analytics platformusing SAS analytics. Moreover, in November 2016, Cisco partnered with Olivetti,an Italy-based telecommunication and IT solutions provider. This partnershipenabled both the companies to jointly deliver the IoT manufacturing service totheir industrial customers present across verticals, such as energy andutilities, car manufacturers, retail and payment, and transportation andlogistics.
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