Asia-Pacific Internet of Things (IoT) Market 2017-2018 to 2022: CAGR to Grow at 11.3% to Reach a Market Size of $95.7 Billion by 2022 - ResearchAndMarkets.com
Aug. 20, 2018
DUBLIN--(BUSINESS WIRE)--Aug 20, 2018--The "Asia-Pacific Internet of Things Market, 2018" report has been added to ResearchAndMarkets.com's offering.
The APAC Internet of Things (IoT) market is expected to grow at a compounded annual growth rate of 11.3% between 2017 and 2022 to reach a market size of $95.7 billion by the end of the forecast period.
The study has sized the spending across the entire IoT value chain comprising chips, modules and sensing, connectivity, enablement platform, system integration and applications.
While the hardware and connectivity components are becoming increasingly commoditised and mature, industry players are seeking growth opportunities in system integration, application enablement platform and application services.
While technology companies generally do not bring domain knowledge, they have been acquiring capabilities in vertical areas to provide vertical-specific solutions. Although acquisitions provide the greatest degree of control, it brings substantial risk and hence collaborations in the form of partnerships are the most common form of arrangement to gain expertise within a short period.
Government agencies in the APAC region are accelerating the deployment of large-scale IoT adoption via investments channelled towards IoT infrastructure, platforms and a number of initiatives including standardisation. In the private sector, the transport, logistics and manufacturing sectors are key drivers of IoT spending.
Standalone Internet-connected devices using cloud-based software via subscription models are increasingly popular to track and trace critical assets from a remote location. While the level of interest is high among the consumer and enterprise sectors, there is a general lack of willingness to spend on revamping the back-end infrastructure. To achieve higher ROI, SMEs are waiting for the technology to mature before they can start to implement it.
While all industries have been investing in IoT, certain industries are critical in driving adoption - in particular, sectors in transport and logistics, public safety and power and utilities. While the use of technology is not a new phenomenon, the growth in adoption trend is driven by the increase in computing power over the last 10 years. With cloud computing becoming more powerful, enterprises are able to capture a lot more data than before to get insights that were not possible in the past.
However, decision makers today still prefer to make decisions based on their past experience instead of using data. There is a fear that technology will render their skills and experience obsolete. Nevertheless, more and more decision makers are coming to terms that leveraging on the exponential increase in data is the way forward for enterprises to gain a competitive edge.
Companies FeaturedCoca Cola DRVR L'Oreal LTA Woolworth
Key Topics Covered
1. Executive Summary
2. Market Overview
3. Drivers and Restraints
4. IoT Market Landscape in APAC
5. APAC Breakdown and Analysis
6. Vertical Analysis
7. Retail Sector
8. Public Safety Sector
9. Transport and Logistics Sector
10. Healthcare Sector
11. Consumer Sector
12. Power and Utilities Sector
13. Manufacturing Sector
14. Smart Building Sector
15. Innovative IoT Use Cases in APAC
16. Growth Opportunities and Companies to Action
For more information about this report visit https://www.researchandmarkets.com/research/2rnfdk/asiapacific?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180820005187/en/
Laura Wood, Senior Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics:Internet of Things and M2M
INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 08/20/2018 04:18 AM/DISC: 08/20/2018 04:18 AM