Consumer IoT Market Size, Share and Trends Forecast to 2023

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MarketsandMarkets Presents

Consumer IoT Market Size, Share and Trends
Forecast to 2023 Consumer IoT Market by
Offerings (Node Components, Network
Infrastructure, Solutions, snd Services), End-Use
Application (Wearable Devices, Consumer
Electronics, Healthcare, Home Automation,
Automotive), and Geography - Global Forecast to
2023 https//www.marketsandmarkets.com/Market-Rep
orts/consumer-iot-market-49972321.html
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The consumer IoT market is estimated to reach
USD 104.4 billion by 2023 from USD 46.8 billion
by 2018, at a CAGR of 17.39 during 20182023. A
few of the major driving factors for the growth
of this market include the growing number of
internet users and adoption of smart devices,
increasing awareness about fitness and rise in
disposable incomes in developing economies, and
consumer preference for increased convenience and
better lifestyle. Browse in-depth TOC
on "Consumer IoT Market" 66 - Tables   62 - Figure
s   249 - Pages  
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Market for solutions to grow at fastest CAGR
during forecast period The consumer IoT market
for solutions is expected to grow at the highest
CAGR during 20182023. The solution segment
consists of software and platform. With the
increase in the number of connected devices, the
volume of data is also proliferating. These huge
data volumes are driving the market for data
management software. By implementing the IoT data
management software, businesses are aiming to get
a competitive edge with predictive analytics, as
well as optimize their business operations.
Moreover, the high number of interconnected
devices controlling physical infrastructure and
increased connectivity, which makes these devices
and their networks more vulnerable to
cyberattacks, is leading to the surge in demand
for highly sophisticated security solutions in
the IoT market. Ask PDF Brochure https//www.mar
ketsandmarkets.com/pdfdownloadNew.asp?id49972321
Home automation to hold largest share of
consumer IoT market by 2023 Home automation is
expected to hold the largest share of the
consumer IoT market by 2023. The increasing
demand for home monitoring in remote locations as
well as the growing adoption of home automation
devices in applications such as security, and
HVAC and energy management, among others, have
been the key factors driving the growth of the
consumer IoT market for home automation. Further,
the rising demand among customers for better and
convenient lifestyles, and increased internet
penetration in smart devices also contribute to
the market growth.
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North America to account for largest market size
during forecast period North America is the major
revenue generating region in the consumer IoT
market. The increasing demand for smart devices
from consumer electronics, wearable, and home
automation applications have led to the growth of
the consumer IoT market in this region. Moreover,
the growth of the market in this region is also
driven by the increasing health consciousness due
to growing incidences of chronic diseases and
number of diabetes patients, and ease of use of
medical devices. The increasing adoption of smart
connected devices and rapid digitalization across
various consumer end-use applications have
further fueled the growth of IoT in North
America. Request Free Sample Pages https//www.m
arketsandmarkets.com/requestsampleNew.asp?id49972
321 The companies profiled in this report are
Qualcomm Incorporated (US), Texas Instruments
Incorporated (US), NXP Semiconductors N.V.
(Netherlands), Intel Corporation (US),
STMicroelectronics N.V. (Switzerland),
International Business Machines Corporation (IBM)
(US), General Electric (GE) (US), Symantec
Corporation (US), TE Connectivity Ltd.
(Switzerland), Schneider Electric SE (France),
Cisco Systems, Inc. (US), Amazon.com, Inc. (US),
Apple Inc. (US), Alphabet Inc. (US), LG
Electronics Inc. (South Korea), Samsung
Electronics Co., Ltd. (South Korea), Sony
Corporation (Japan), Microsoft Corporation (US),
ATT Inc. (US), Honeywell International Inc.
(US), and Hewlett Packard Enterprise Company
(HPE) (US).
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