The Internet of Things (IoT) is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers and ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.
The 2017 revenue contribution from hardware segment in the global Internet of things market is estimated to be US$ 386.8 Mn, which is projected to increase significantly by end of 2026.
The consumer electronics segment in the global Internet of things market has been estimated to account for revenue of US$ 266.9 Mn in 2017.
North America market has been estimated to account for revenue of US$ 189.9 Mn in 2017, and is expected to register a lucrative CAGR during the forecast period, owing to technological advancements, increasing per capita spending, and rising demand for luxury & premium cars in countries in this region.
Key players operating in global Internet of things market include Google Inc., Cisco Systems, Inc., IBM Corporation, Fujitsu Ltd., HP Inc., Dell Inc., Arm Limited, Intel Corporation, Infineon Technologies AG, and Infosys Limited.