Market Highlights

The global agile IoT market is predicted to touch USD 199.90 billion at a 20.9% CAGR over the forecast period (2017-2023), reveals the latest Market Research Future (MRFR) report. Agile IoT helps users to build IoT applications and also control connected devices through a modular IoT gateway. These services offer support in the execution of IoT applications, protocol interoperability, data and device management, and external cloud communication. It has a huge range of applications including BFSI, government, manufacturing, various public sectors, and healthcare. Agile IoT has several components, including smart retail solutions for an improved shopping experience, livestock and open-air crop monitoring using drones, and wearables for self-tracking.

Market Boosters and Top Restraints

Agile IoT helps users to develop IoT applications, in addition to controlling connected devices via a modular IoT gateway and also facilitate IoT application execution, protocol interoperability, external cloud communication, and data & device management. It helps provide free software components to IoT developers as well as communities for agile IoT prototyping; and helps establish a group of developers and users, thereby accelerating the adoption of the agile project. Apart from this, it allows IoT entrepreneurs and SMEs to create IoT solutions that require backup of multiple protocols and networks.

Agile IoT helps examine air quality and pollution monitoring, open field, and cattle monitoring, port area monitoring, among others. Besides, it has applications in healthcare, manufacturing, government, BFSI, and public sector to name a few. The semiconductor industry has been revived since the worldwide financial crisis and has demonstrated healthy growth, mostly due to the widespread adoption of tablets and smartphones, which has augmented the demand for mobile and wireless applications. These factors are slated to have a profound effect on the agile IoT market in subsequent years.

Other factors that benefit the agile IoT market include rising adoption of advanced technologies as well as up-gradation of several wireless connecting devices like BLE, Wi-Fi, Z Wave, ZigBee, RF, and LoRa. Over and above that, increasing adoption of agile IoT is believed to boost the development of connected products for IoT in the near future.

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Segmentation:

The Market Research Future report offers a wide segmental analysis of the agile IoT market based on component, connectivity, deployment, organization size, and vertical.

Based on the component, the agile IoT market is segmented into services, software, and hardware.

Based on connectivity, the agile IoT market is segmented into RF, LoRa, ZWave, ZigBee, BLE, Li-Fi, Wi-Fi, LAN, and others.

Based on deployment, the agile IoT market is segmented into on-premises and cloud.

Based on organization size, the agile IoT market is segmented into small, medium, and large.

Based on vertical, the Agile IoT Market Forecast is segmented into the public sector, government, healthcare, manufacturing, BFSI, and others.

Regional Outlook

Asia Pacific (APAC), the Middle East & Africa (MEA), Europe, and North America have been recognized as the main markets for agile IoT in the MRFR report. North America is the leading market for agile IoT, whereas Europe and APAC come in second and third in the global market, respectively.

North America’s top position in the global market is the result of the strong focus of various countries on investing in research and development (R&D). In addition, rapid digitalization across various industries coupled with rising adoption of smart connected devices and technological advancements have induced market growth in the region.

APAC is touted to be a highly lucrative market for agile IoT in the forthcoming years, given the strong efforts given by renowned players who are adopting strategies like agreement & partnership, new product launch, acquisition and expansion in a bid to expand their customer base. To illustrate, in September 2019, China Mobile entered a partnership with Huawei with the aim of creating an era of IoE. This partnership helped the companies build an agile IoT operations platform that can lead to digital transformation of the IoT business ecosystem.

Huge investments by highly-regarded companies, as well as emerging start-ups, have led to market growth in Europe, which prompts entry of new vendors into the region.

Leading Players

Leading vendors in the worldwide agile IoT market are Lightbee Corp. (U.S), Supreme Architecture Inc. (U.S), LVX System (U.S), Panasonic Corp. (Japan), Qualcomm Inc. (U.S), Fujitsu Ltd. (Japan), General Electronic Corp. (U.S), ByteLight, Inc. (U.S), PureLifi Ltd (U.S), Ibsentelecom Ltd. (U.S), among others.

Latest News

August 2019

Igor recently launched Nexos, which is said to be industry’s first smart building platform that helps to build agile IoT, with the use of an open standard for global connectivity.

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Global Agile IoT Market, By Component (Hardware, Software), By Deployment (On-premises, Cloud), By Organization size (Large, Small, Medium), By Connectivity (LAN, Wi-Fi, Li-Fi), Vertical (Manufacturing, Healthcare) - Forecast 2023

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