According to TechSci Research report, “US Internet of Things (IoT) Market By Component, By Communication Technology, By End Use Industry, Competition Forecast & Opportunities, 2012 – 2022’’, Internet of Things (IoT) market in the United States is projected to grow at a CAGR of more than 14% during 2017-2022, due to growing number of connected devices including smartphones, tablets, etc., rising internet penetration rates, and growing trend of Bring Your Own Devices (BYOD).
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Growing adoption of Internet of Things (IoT) in various applications including smart homes, smart cities, consumer electronics (smart TVs, wearable devices, etc.), logistics (fleet monitoring, cargo management, etc.), energy & utilities (smart grids, smart meters, etc.), automotive & transportation (connected cars, GPS monitoring, smart traffic management systems, etc.), etc., is expected to continue boosting the country’s IoT market.
Devices are the backbone of Internet of Things (IoT) applications and solutions. Various companies in the United States are further focusing towards adopting Internet of Things to enhance their operational efficiencies. Decreasing cost of hardware components such as sensors, RFID, RF & microwave ICs, etc., is driving IoT market in the country. Western region dominated the country’s IoT market in 2016, on account of large number of business institutions, households and c`ommercial buildings in the region.
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“Growing adoption of Internet of Things in various applications coupled with increasing government support for promoting smart manufacturing, smart city projects, etc., is driving IoT market in the United States. Further, increasing demand for wearable devices coupled with rising focus towards Industrial Internet of Things (IIoT) is anticipated to fuel market growth in the coming years. In addition, manufacturing, transportation and BFSI sectors are expected to maintain their position as the key end use industries for IoT solution providers during the forecast period.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
Browse 20 market data Tables and 31 Figures spread through 127 Pages and an in-depth TOC on “United States Internet of Things (IoT) Market” @ https://www.techsciresearch.com/report/us-internet-of-things-iot-market-by-component-hardware-software-services-by-communication-technology-short-range-medium-range-etc-by-end-use-industry-bfsi-transportation-etc-competition-forecast-opportunities/957.html
“US Internet of Things (IoT) Market By Component, By Communication Technology, By End Use Industry, Competition Forecast & Opportunities, 2012 – 2022” has evaluated the future growth potential of the United States Internet of Things (IoT) market and provides statistics and information on market size, structure and trends. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities in the United States Internet of Things (IoT) market.
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