Internet of Things Technology Market by Hardware, Platform Software Solutions, and Services, Application, and … – PR Newswire (press release)

September 28, 2016 Facebook Twitter LinkedIn Google+ Uncategorized

LONDON, Sept. 27, 2016 /PRNewswire/ — “Internet of things technology market is expected to grow at a high CAGR during the forecast period”
The Internet of Things technology market size, in terms of value is expected to grow from USD 130.33 billion in 2015 to USD 883.55 billion by 2022, at a CAGR of 32.4% between 2016 and 2022.
The Internet of Things technology market is driven by factors such as increasing Internet connectivity worldwide, increasing demand for the smartphones & other connected devices, increasing adoption of wireless sensors, and mainstreaming of cloud computing. The increasing government funding across globe for research and development in IoT and scope for innovative cross-domain application provide significant growth opportunities in the market.

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