IOT INFRASTRUCTURE MARKET ANALYSIS

Iot Infrastructure MarketSize and Trends

Factors Driving Growth of the Global IoT Infrastructure Market

IoT has changed the way machines interact with humans and other machines. The sensors that form the building blocks for IoT create tons of data every minute and every day. Various organizations and government bodies are using big data analytics and other smart technologies, which are expected to boost the communication infrastructure, which in turn will be used for lighting, parking, traffic, and waste management; citizen engagement; safety and security. In addition to this, favourable government initiatives related to smart city projects across the globe are expected to fuel growth of the global IoT infrastructure market. Governments across the globe are creating favorable policies and heavily investing in smart city projects. For instance, in June 2015, the Government of India launched ‘100 Smart Cities Mission’ with an allocated budget of US$ 6.9 billion.  Moreover, increasing adoption of internet of things (IoT) by supply chain, manufacturing, and retail industries to optimize workflow, for better allocation and utilization of assets, and to reduce operating costs is expected to drive growth of this market.