What is IoT Softwares Market?
Software became an important segment for the whole IoT industry after hardware and services with the security spending crossing the USD 1.5 billion in 2017 itself. From 2018 to 2020, the market for software will grow at a huge rate with double-digit compounded annual growth rate as a result of growing government involvement, and technological evolution in the business and consumer sector being the main contributing factors.
The market study is being classified by Type (Real-time Streaming, Analytics Software, Security Solution Software, Data Management Software, Remote Monitoring System Software and Network Bandwidth Management Software), by Application (Building and Home Automation, Manufacturing, Retail, Transportation and Others) and major geographies with country level break-up.
Cisco (United States), Centri Technology (United States), Dell EMC (United States), McAfee (United States), Symantec (United States), Microsoft Corporation (United States), IBM Corporation (United States), HP (United States) and Salesforce (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are NewSkY Security (United States), Palo Alto Networks (United States), ForgeRock (United States), Armis (United States), Claroty (United States), DarkMatter (Canada) and Dedrone (United States).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global IoT Softwares market throughout the predicted period.
Analyst at AMA have segmented the market study of Global IoT Softwares market by Type, Application and Region.
On the basis of geography, the market of IoT Softwares has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Advent of Advanced Data Analytics and Data Processing
- Reduction in the Cost of Connected Devices
- Development of Wireless Networking Technologies
- Increase in Cloud Platform Adoption
- Data Security and Privacy Concerns
- Interoperability and Lack of Common Standards
- Shared Security Model
- IoT Traction Among SMEs
- Data Migration From Legacy Systems
- Rapid Demand in Bandwidth Requirement
Market Leaders and some development strategies
On 28th January 2020, Cisco Launches a Comprehensive Security Architecture for Industrial IoT, Cisco Cyber Vision™ advanced anomaly threat detection, powered by Cisco Talos, provides real-time detection of cybersecurity threats to industrial assets.
On 11th December 2019, Cisco has unveiled further details behind its technology strategy for building a new internet one designed to push digital innovation beyond the performance, economic, and power consumption limitations of current infrastructure.
Key Target AudienceIOT Software Providers, Government Regulatory Bodies, Private Research Organization, Government Research Organization and Others
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