This industry research report presents detailed segmentation of the global IOT devices market by product (smart refrigerators, smart lighting system, smart ACS, smart watches, smart thermostats, and smart glasses). It also provides a market share analysis and forecast for its key geographies, including EMEA, APAC, and the Americas. Key findings also include an analysis of the leading vendors like Carrier Corp., Ecobee, Honeywell International Inc., Ingersoll-Rand plc, Nest Labs, LG, Motorola, Pebble, Samsung, Sony, AGC Group, DuPont, PPG Industries, and Saint-Gobain.
Technavio’s market research analysts estimate the global IOT devices market to generate revenues of $ 44 billion between 2015 and 2019. Also known as smart devices, IOT devices include smart refrigerators, smart AC, smart watches, smart thermostats, smart glass and smart lighting. The growing popularity of smart homes is expected to encourage the adoption of IoT devices during the forecast period. The Americas dominate the global market for IOT devices, accounting for 49% of the overall market share. Rapid advances in technology and changing consumer preferences over the usage of electronic devices are some of the major factors contributing to the high demand for IoT devices in the Americas.
The new market research report from Technavio provides a breakdown and analysis of the IOT devices segments by technology.
“One of the interesting trends that this market is witnessing is the growing demand for energy efficient equipment. Vendors are offering as smart thermostats that are equipped with intelligent sensor systems that detect users’ cooling and heating requirements. These devices adjust power consumption as per users’ requirements, hence regulate the energy usage and lowers the household expenses. Smart thermostat vendors are also developing devices that are user-friendly in terms of installation procedures,” says Navin Rajendra, Industry Manager, , Hardware & Semiconductor, Technavio Research.
Technavio’s market research analyst has estimated the smart lighting system segment to account for more than 45% of the total market share by 2019. The growing focus on energy consumption and the introduction of strict government policies pertaining to energy consumption are the major growth impelling factors in this segment during the forecast period.
The leading vendors in the global IOT devices market include Carrier Corp., Ecobee, Honeywell International Inc., Ingersoll-Rand plc, Nest Labs, LG, Motorola, Pebble, Samsung, Sony, AGC Group, DuPont, PPG Industries and Saint-Gobain. Since this market is still in its nascent stage, high growth is expected during the forecast period. However, at present, this market is dominated by a few large enterprises like Carrier Corp., LG, and Honeywell International as they have extensive product portfolios.
A more detailed analysis is available in the Technavio report, Global IOT Devices Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
Other related reports:
- Global IoT Security Market 2015-2019
- Global Industrial IoT Market: Research report 2015-2019
- Internet of Things (IoT) Market in China 2015-2019
- Global Internet of Things (IOT) Market 2015-2019
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