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Agreements, Collaborations, Joint Ventures, and Partnerships Were Part of Strategy Adopted by All Major Players in the Internet of Things Technology Market
According to the MarketsandMarkets report, the Internet of Things technology market, in terms of value, is expected to grow from USD 130.33 Billion in 2015 to USD 883.55 Billion by 2022, at a CAGR of 32.4% between 2016 and 2022. Intel Corporation (U.S.), International Business Machines Corp. (U.S.), Cisco Systems (U.S.), NXP Semiconductors N.V. (Netherlands), and General Electric Co. (U.S.). These players rely on their strong R&D capabilities and a balanced products and services portfolio to increase their customer base in the Internet of Things technology market. Other players profiled in the report PTC, Inc. (U.S.), SAP SE (Germany), Oracle Corporation (U.S.), ARM Holdings Plc. (U.K.), Qualcomm Incorporated (U.S.), Texas Instruments Incorporated (U.S.), Atmel Corporation (U.S.) STMicroelectronics N.V. (Switzerland), Microsoft Corporation (U.S.), and AT&T, Inc. (U.S.).
Players have adopted various strategies such as new product/new service launches, agreements, collaborations, joint ventures, and partnerships, expansions and acquisitions to achieve growth in the Internet of Things technology market. Intel Corporation (U.S.) is a leading player in the Internet of Things technology market. It is involved in the design and manufacturing of integrated digital technology and development of IoT platforms which are helpful for the development of the overall Internet of Things technology market. The company’s Internet of Things group segment offers platforms for customers to design products for the retail, transportation, industrial, buildings, and home market segments. The Internet of Things group (IoTG) further focuses on establishing an end-to-end architecture that captures actionable information for consumers. International Business Machines Corp. (U.S.) is a leading player in providing big data and cloud computing solutions to its customers. The company spends heavily aggressively on R&D and has more than 7,000 patents
Agreements, collaborations, joint ventures, and partnerships were part of strategy adopted by all major players in the Internet of Things technology market. This strategy was adopted by companies to look beyond their core strengths to grow fast in the Internet of Things technology market and establish a stronghold. General Electric Co. (U.S.) partnered with Genpact Limited (Bermuda), a global leader in the digitally powered business process management and services, to help customers harness the power of IoT; International Business Machines Corp. (U.S.) collaborated with Avnet, Inc. (U.S.) to increase the development and deployment of IoT solutions in the U.S., Europe, and Canada.
The key players also adopted strategies such as acquisitions and expansions to increase their geographic presence, and expand their product portfolio, and reach untapped markets. Cisco Systems, Inc. (U.S.) acquired Jasper Technologies, Inc. (U.S.), developer of IoT cloud platform, for USD 1.4 billion. This acquisition is expected to help Cisco bring together connectivity, security, automation and real-time insights for a complete IoT service solution. PTC, Inc. (U.S.) acquired Kepware technologies (U.S.), a software development company that provides communications connectivity to industrial automation environments. The acquisition is expected to enhance PTC’s portfolio of Internet of Things technology and accelerate the company’s entry into the factory setting and industrial IoT.
Internet of Things Technology Market by Hardware (Processor, Sensor, Connectivity Technology), Platform (Device Management Platform, Application Management Platform, Network Management Platform) Software Solutions, and Services, Application, and Geography - Forecast to 2022
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