LONDON — (BUSINESS WIRE) — February 12, 2015 — TechNavio, a tech-focused research firm, has published a list of the Top 19 Companies in the Global Internet of Things (IoT) Market.
The Global IoT Market is expected to more than triple, topping $US778 billion by 2019, and growing at a CAGR of 31.72 percent from 2014-2019.
“The IoT forms a network of connected hardware, software and communications protocols, which provide the basis for smart communication environments such as smart homes. We expect to see a high growth rate in this sector due to increased Wi-Fi and LTE wireless connectivity,” says Faisal Ghaus, Vice President of TechNavio.
According to a new report from TechNavio, increased adoption of IPv6 will be a major trend in the IoT market through to 2019. Formerly, IPv4 was used to provide unique identities to the devices in IoT networks. However, the IPv4 system limited network connectivity to 4.3 billion devices, which was not sufficient for the growing number of IoT-connected devices.
IPv6 has the capacity to handle 3.4x10^38 unique IP addresses, which facilitates better management of devices and encourages more adoption of the IoT.
Key vendors in the market include Alcatel-Lucent, AT&T, Cisco Systems and Ericsson.
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
About TechNavio
TechNavio is a leading global technology research and advisory company.
Founded in 2003, TechNavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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