A study was conducted by Bain and Company along with marketing research firm Gartner to assess the present position and the future growth of the Internet-of-Things. The results are hugely positive for organizations dealing with such technologies. From a present base of US$ 235 billion to more than a double of US$ 520 billion will be the size of this industry. The major sub-components that will thrive are- consumer devices, legacy embedded systems, systems integration, and data-driven business analytics. The last will be a key battleground for several industry players. Due to their broad focus, others will be able to concentrate on their niche areas. Cloud-based IoT service providers will for instance be much in vogue by the year 2021.

Source:https://www.bain.com/insights/IoT-markets-are-growing-at-20-snap-chart/

Uploaded Date:17 October 2018