Global Consumer IoT Market: Snapshot
Consumer IoT is broad term which is used to refer to an array of personal devices, such as smartphones, wearables, fashion items and home appliances that are connected to the internet. Consumer Internet of Things differs from Internet of Things mainly in terms of type of devices and the applications it is used for.
Consumer Internet of Things no longer remains a novelty. The technology has capability to transform every nook and corner of the world. From home to office, drawer to shoe rack, consumer IoT has changed the way we handle our day to day work. Adding sensors and other functionalities to products is normal now-a-days. Higher product control, better business insights, resource tracking, business streamline, and better interaction to people, systems and environments are some of the advantages of consumers IoT.
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In short, consumer IoT is useful for both homeowner looking for a connected life, or a business leader looking to manage their office. The utility is helpful to increase comfort and lifestyle for each and every people.
With the increase in the number of connected devices, the provider of consumer IoT services are launching several personalized services. Top leaders are emphasizing more on wireless technologies to quench the growing demand. The increasing adoption of consumer IoT across the globe is increasing the volume of data. These huge data volumes is one factor that is likely to drive the global consumer IoT market in the near future.
Also, more and more business leaders are adopting the IoT data management software in order to gain a competitive edge with predictive analytics, as well as optimize business operations. Along with this increasing demand for home monitoring in remote locations as well as the growing adoption of home automation devices is another strong factor which is aiding the growth of consumer IoT market.
Global Consumer IoT Market: Competitive Insights
Some of the key players operating in the global consumer IoT market are General Electric (GE), Symantec Corporation, Amazon.com, Inc., Hewlett Packard Enterprise Company and Microsoft Corporation. Moreover, presence of large and small scale industry in the global consumer IoT is likely to demonstrate fragmented structure. The manufacturers are highly concentrated towards research and development activities in order to expand their presence and maintain footprint in the global consumer IoT market.
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