Finance > Stock MarketInternet of Everything (IoE) Market will Increase at a CAGR of 16.4% during 2014
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Introduction


Rapid advancements in internet in which smart devices can communicate with each other by sending and receiving data through network connectivity have given rise to disruptive technology termed as “Internet of Everything” (IoE). The term IoE is a superset of machine to machine (M2M) communication and internet of people (IoP). M2M communication technology is typically used in remote monitoring of connected machines and to turn them into intelligent assets. Key components included in M2M communication technology are intelligent sensors, radio-frequency identification (RFID), cellular network, and connectivity platforms. The Internet of people is a term that includes all the electronic systems and devices that connect to internet and communicate data with end-users inputs.


Market Value and Forecast


The global IoE market was valued at US$ 2,426.8 billion in 2013 and is expected to reach US$ 7,130.4 billion by 2020 Authentic Greg Olsen Jersey , reflecting a CAGR of 16.4% during forecast period, 2014 - 2020. In 2013, connected IoE devices represented 10.2% of overall IoE installation base across globe. Increased technology budgets by governments and proliferation of connected devices are some of the prominent factors driving the demand for IoE solutions. Also, introduction of new technologies for enterprise mobility and big data analytics by key players such as Cisco, Accenture and IBM are expected to boost the market growth, thereby increasing competitiveness in the market.


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FMI has segmented global IoE market into two major verticals: consumer and business to business (B2B). Consumer vertical stood at US$ 624.3 billion with 25.7% of overall IoE market in 2013 Authentic Kawann Short Jersey , however it is expected to lose 190 BPS to B2B vertical by 2020. The B2B vertical segment has been sub-segmented into manufacturing sector, public sector, retail sector, transportation sector, BFSI (banking, financial services and insurance) sector Authentic Trai Turner Jersey , healthcare sector, communication & media sector and utility sector. Among all the aforementioned IoE B2B verticals, manufacturing sector dominated the market and accounted for 34.1% market share in 2013, followed by public sector with 20.3% share of global IoE market. However, healthcare sector is expected to be the fastest growing market