PUNE, India, February 9, 2017 /PRNewswire/ --
According to a new market research report "Top 10 Connected/Smart Industries (IoT in Manufacturing, IoT in Retail, IoT in Utility, Connected Mining, Connected Logistics, Connected Agriculture, Smart Education and Learning, Smart Buildings, Smart Grid Management, and Smart Transportation)", published by MarketsandMarkets, the Top 10 Connected/Smart Industries are estimated to grow at a high Compound Annual Growth Rate (CAGR) during the forecast period.
Browse 54 market data Tables and 82 Figures spread through 198 Pages and in-depth TOC on "Top 10 Connected/Smart Industries"
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The major forces driving the Top 10 Connected/Smart Industries market include decreasing cost of industrial hardware and networking component, government regulations, and increasing infrastructural development initiatives.
Smart Education and Learning Market is expected to be the largest market in terms of market size in the Top 10 Connected/Smart Industries
The global smart education and learning market is expected to grow from USD 193.24 Billion in 2016 to USD 586.04 Billion by 2021, at a CAGR of 24.8% during the forecast period. It represents an emerging phase of the academic and corporate learning model that has the potential to truly transform the way students and working professionals will be trained in the coming years. This market is driven by the increasing government initiatives, growing economies, increasing BYOD trend, proliferation of mobile apps, and the rising importance of self-paced learning thereby ensuring learning and training irrespective of the place and time.
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Iot in Retail Market is expected to be a major market in terms of market size in the Top 10 Connected/Smart Industries during the forecast period
The global IoT in retail market is expected to grow from USD 14.28 Billion in 2015 to USD 35.64 Billion by 2020, at a CAGR of 20.1% during the forecast period. The concept of IoT in retail has revolutionized the way retailers interact with their customers, and helps retailers in increasing operational efficiency and optimizing customer experience. The increasing number of connected devices and the proliferation of smartphones have contributed significantly to the rise of IoT. The implications of IoT can be widely seen in functional area such as kiosks, advertising & marketing, smart doors & shelves, digital signage, vending machines, payment processing, and inventory management.
North America is expected to be the biggest contributor, followed by Europe, to the Top 10 Connected/Smart Industries market
The North American region is projected to dominate the Top 10 Connected/Smart Industries market during the forecast period. The driving factors for this growth are large scale investments in Top 10 Connected/Smart Industries systems and solutions, government initiatives, and early adoption of technology. Europe is the second highest contributor to the Top 10 Connected/Smart Industries market owing to strict regulations and presence of a large number of original equipment manufacturers and solution providers.
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In addition, the Top 10 Connected/Smart Industries market remains competitive with the presence of a large number of vendors such as ABB Group (Switzerland), Cisco Systems, Inc. (U.S.), General Electric (U.S.), IBM Corporation (U.S.), and Intel Corporation (U.S.), Microsoft Corporation (U.S.), PTC, Inc. (U.S.), SAP SE (Germany), Schneider Electric SE (France), and Siemens AG (Germany). The report also encompasses different strategies, such as mergers & acquisitions, partnerships & collaborations, and new product developments, adopted by major players to increase their market share.
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