The APAC IoT market is forecast to grow at a CAGR of 11.3% from USD 313.97 Billion in 2018 to USD 481.8 Billion in 2022. With around 3.67 connected IoT Devices in 2018 which is expected to grow to 7 Billion devices in 2022, the APAC region is the global leader in IoT spending with around 36.9% of the world wide spends.
- Definition / Scope
- Market Overview
- Market Risks
- Top Market Opportunities
- Market Drivers
- Market Restraints
- Industry Challenges
- Technology Trends
- Other Key Market Trends
- Market Size and Forecast
- Market Outlook
- Technology Roadmap
- Distribution Chain Analysis
- Competitive Landscape
- Competitive Factors
- Key Market Players
- Strategic Conclusion
Definition / Scope
The Internet of Things refers to objects or things that are connected to the internet i.e anything can be accessed anytime and from anywhere. It comprises integrating sensors and devices into everyday objects that are connected to the internet through fixed or wireless connection.
The fact that internet is present anywhere enables the feasibility of mass adoption of this technology. Given their size and price, these sensors can be integrated easily into homes, workplaces and public places.
This process enables objects to be connected to the internet and manifest themselves. Moreover, in IoT any object can be a data source. IoT is not a revolutionary or innovatory concept.
It is an evolutionary perception, equivalent to the evolution on the networking technologies of the present internet, service platforms and wireless.
Internet of Things can be defined as a fast emerging ecosystem of a seamless connected network of embedded objects/devices with identifiers that communicate without human intervention using standard and interoperable communication protocols.
The Internet of Things technology has three distinct stages:
- Collecting data by sensors
- Analysis and optimisation of data by a middleware application
- Transmission of data to decision maker, further data analysis with the help of analytics engines, actuators and big data.
Adoption of IoT is rapidly increasing across various industries for various verticals. Moreover IoT would be used in smart cities for smart lighting, smart parking, smart meeting, solid waste management, etc.
IoT Components Architecture
The IoT Components includes the following:
Things: Comprises various objects found in commercial settings or at homes, Also includes distinct devices such as sensors, RFID, Wearables and mobile devices.
Local Network: Different Local communication technologies including short range, cellular, satellite and others which help in transferring data generated from devices/things for further analysis of these data sets. Local networks also provide uninterrupted connectivity, improved management and also enhance security for establishing an efficient and reliable network.
Internet: It is a global ecosystem of networks of interconnected IP networks for linking computer systems together. It also helps in retrieving data from the cloud and analysing it.