Report Names Top 3 Emerging Trends in IoT Devices Market
Global IoT devices market is forecast to grow from $7 billion in 2014 to $45 billion by 2019
LONDON — Technavio’s latest report on the global Internet of Things (IoT) devices market provides an analysis of the key trends expected to impact the market from 2015 to 2019.
The global IoT devices market is forecast to grow from $7 billion in 2014 to $45 billion by 2019, increasing at a compound annual growth rate (CAGR) of almost 44 percent. The market is calculated on the basis of six products. They are smart a/c, smart refrigerators, smart thermostats, smart watches, smart glasses, and smart lighting.
According to Navin Rajendra, a lead research analyst for computing devices at Technavio, “The global IoT devices market is at its nascent stage, so very high growth is expected in the coming years. Technological advancements and changing consumer lifestyles will lead to the high adoption of IoT devices.”