Improvements in the internet technology through which sending and
receiving of data between smart devices via network connectivity have led to
innovation of new technology called Internet of Everything (IoE). IoE is a
combination of Internet of people (IoP) and machine to machine (M2M). The use
of M2M communication technology is primarily for the monitoring of remotely
connected machines, thereby converting them to intelligent assets. Cellular
network, radio-frequency identification (RFID), intelligent sensors, and
connectivity platforms are the major components of M2M communication. Whereas,
IoP includes all the devices and electronic systems that communicate data with
end users.
IoE specifies to consumer products and
devices linked to the internet and have digital features. It is an ideology for
future with different types of devices, products and appliances connected to
the worldwide internet. Thereby, enabling smarter machines that have more
access to data and enhanced networking opportunities. IoE caters to an array of
applications that include industrial machine learning systems, digital sensor
interfaces/tools utilized for remote appliances, smarter and connected mobile
devices and other distributed smart/automated hardware.
The global IoE market is segmented into two
end-user verticals: business to business (B2B) and consumer. The B2B segment is
further sub-segmented into public sector, transportation sector, communication
& media sector, healthcare sector, retail sector, manufacturing sector, BFSI
(banking, financial services and insurance) sector and utility sector. Among
these mentioned IoE B2B verticals, manufacturing sector heads the global IoE
market and then the public sector. Though, healthcare sector market is growing
fastest across the world. The IoE market is bifurcated based on technologies
into application technologies, infrastructure technologies and network
technologies. The global IoE market is bifurcated on the basis of regions into
North America, Europe, Asia Pacific, South America and Middle East &
Africa.
North America dominates the global IoE
market followed by Europe and Asia Pacific. IoE market is a growing market as
it generates extraordinary opportunities for organizations, individuals,
communities and countries to gain huge value from networked connections through
data, processes, things and people. The major reason for the growth of IoE
market in the upcoming years is the highly growing use of the internet. The
market is in the promising stage and is expected to grow further as it offers
benefits like decision making and enhancing operational efficiency. It performs
merging of technologies such as mobility, data analytics, social networks and
cloud computing by way of inexpensive intelligent sensors. The growing
acceptance by local, federal and state governments; non-governmental
organizations, healthcare organizations and educational institutions creates
many opportunities for IoE market in the future. The growing demand between
high speed processors, high network speed and internet security equipment
helped to create the stable market.
Internet security is an issue that can
hampers the market growth. Also, low speed of internet is a major restraint in
IoE market. Advancements in standardized technologies and ultra-low power will
also help in the growth of IoE market. The development of big-data analytics
has taken wireless enabled services and applications of IoE to a new level
creating a demand for the IoE market.
Some
Key Player:
PTC Inc., Axiros GmbH, Hewlett-Packard
Development Company, L.P, SAP SE, Oracle Corporation, Apple Inc., Continental
AG, Atmel Corporation, Accenture PLC, Cisco Systems, Inc., Microsoft
Corporation, International Business Machines Corp., Ericsson, Schneider
Electric SE, Amazon.com, Inc., Freescale Semiconductor, General Electric
Company, Enlighted Inc., Samsung Electronics Co. Ltd., Telefonica S.A, Qualcomm
Technologies, Inc., Altimetrik Inc. and Wireless Logic Group Ltd are some of
the key players in the industry.
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