EMEA IoT Market by Component & Application - 2021
EMEA IoT market categorizes the global market by component as platform, service, software solution, by application as building & home automation, smart energy, smart manufacturing, connected logistics, smart retail, connected health, and by region.
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“The software solution segment is projected to lead the market during the forecast period”
Based on component, the EMEA IoT market has been segmented into platform, software solution, and service. The software solution segment is projected to be the largest component segment of the market between 2016 and 2021. The major reason for this segment’s growth is attributed to the growing inclination of customers toward highly customized IoT solutions. Among platforms, the device management platform segment is expected to grow at the highest CAGR during the forecast period due to the growing use of personalized devices, such as smartphones and tablets.
“The connected health segment is projected to grow at the highest CAGR during the forecast period.”
Based on application, the connected health segment is projected to grow at the highest CAGR during the forecast period due to the increasing need for efficient healthcare.
“France is projected to grow at the highest CAGR in the European market during the forecast period, while Qatar is projected to grow at highest CAGR in the Middle East & Africa market”
In Europe, the IoT market in France is projected to grow at the highest CAGR during the forecast period, due to the increasing use of mobile phones and social media, and the exponential growth in deployment of high speed networks. Whereas, Qatar is projected to grow at the highest CAGR in the Middle East & Africa IoT market. This high growth in Qatar is attributed to its infrastructure growth, such as in the banking and hospitality sectors, and rise in income levels.
IBM Corporation (U.S.), Cisco Systems, Inc. (U.S.), Amazon Web Services (U.S.), Microsoft Corporation (U.S.), SAP SE (Germany), and General Electric (U.S.) are some of the key players operating in the EMEA IoT market.
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