Tag: marketsandmarkets

Internet of Fings ain’t going to be what they used to be

fings-ain-t-wot-they-used-t-be-all-star-studio-cast-recordingMarketsandMarkets analysts think that the IoT Node and Gateway Market will grow like topsy.

In its latest market research report with the punchy title “IoT Node and Gateway Market by Hardware (Processor, Connectivity IC, Sensor, Memory Device, Logic Device), by End-Use (Wearable Devices, Healthcare, Consumer Electronics, Building Automation, Industrial, Retail), and Geography – Global Forecast to 2023” MarketsandMarkets said the market will register a shipment of 17.18 Billion units by 2023.

This means that it will grow 30.9 percent between 2017 and 2023.

The market has an enormous potential of growth in various end-use applications such as retail, BFSI, and aerospace and defence, the report said.

The major factor driving the growth of the IoT node and gateway market are improved internet connectivity in technologically advanced countries and increased IP address space and better security provided by IPv6.

Emerging economies such as India, China, and Brazil, the improving IT infrastructure, along with business-friendly initiatives by government organisations is driving the growth of the IoT node and gateway market.

The IoT node and gateway market for connectivity IC, by hardware, held the largest share in 2016. The increasing demand for better edge devices connectivity and significant developments in low-power connectivity technologies such as Wi-Fi, Bluetooth, and Bluetooth low energy (BLE) are the key contributing factors leading to the largest market share of connectivity ICs in 2016.

BFSI end-use application is expected to grow at the highest rate during the forecast period.

The mass adoption of online banking, contactless payment, and mobile banking apps has increased significantly. Banks are trying to create intelligent and personalized customer cross-selling opportunities. The shipment of the BFSI end-use application in the IoT node and gateway market would largely be driven by the increasing adoption of mPOS, the report said.

In 2016, North America held the largest share of the IoT node and gateway market, in terms of volume. North America is one of the fastest-growing markets in terms of technological advancement, manufacturing operations, and infrastructure.

The wide-scale adoption of IoT technologies in several industries such as retail, automotive and transportation, and healthcare is the key factor supporting the growth of the IoT node and gateway market in this region.

IT security market worth $170 billion by 2020

BouncerFoxFeatureThe IT security market will be worth $170 billion by 2020, which means growing by $100 billion from now.

India-based firm MarketsandMarkets says the 2020 total includes security technologies like data leak prevention, denial of service attack mitigation, and compliance, along with security services.

“MarketsandMarkets expects the global cyber security market to grow from US$106.32 billion in 2015 to US$170.21 billion by 2020, at a compound annual growth rate of 9.8 percent,” MarketsandMarkets said.

Gartner  said something similar its latest November figures predicted security spend pegged at $75 billion are reckoned be worth $91 billion by the end of the year. Big G said the security industry will be worth some $116 billion by 2019 with security services including consulting, hardware support, and outsourcing adding a further $73 billion by 2019.

Most of the cash appears to be being spend in North America  while significant revenue growth is expected from Latin America and Asia-Pacific regions. The most popular is expected to be managed security services.