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Internet of Everything to reach $7,130.4 billion

Staff writer |
Future Market Insights (FMI), in its report "Global IoE (Internet of Everything) Market Analysis and Opportunity Assessment, 2014–2020", projects that the overall IoE market is expected to grow at a considerable CAGR of 16.4% during the forecast period.

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The global IoE market accounted for $2,426.8 billion in terms of value in 2013, and is projected to grow three fold to reach $7,130.4 billion by 2020. Factors impelling the market include proliferation of connected devices and a growing need for enterprise mobility.

In addition, introduction of several smart cities, smart grid and eGovernment initiative by the respective governments of emerging countries such as China, India, and Japan have resulted in the increased uptake of IoE devices and solutions. Further, the growing application of IoE technology in healthcare and transportation sectors is expected to fuel market growth by 2020.

By component type, the intelligent system sub-segment is estimated to be the largest, with over 75% of the total IoE market share in 2020, followed by the infrastructure enablement spending sub-segment with over 20% market share.

Between the two IoE verticals, namely consumer and B2B IoE, the latter accounted for more than 70% share of the overall IoE market in 2013. North America was the largest market in terms of revenue, accounting for over 34% of the global IoE market in 2013.

Key players in the global IoE market are Cisco Systems, IBM Corporation, Samsung Electronics, Apple, Vodafone Group, and Accenture.

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