The EMEA IoT market is projected to grow from USD 53.88 Billion in 2016 to USD 211.92 Billion by 2021, at a CAGR of 31.5% from 2016 to 2021. The market has been witnessing substantial growth in recent years, owing to the evolution of high speed network technologies and the rising adoption of cloud platforms, very necessary for IoT. Growth of the EMEA IoT market can also be attributed to emerging markets in the Middle East region, such as Saudi Arabia, UAE, and Qatar; and increasing adoption of the IoT technology in European countries, such as the U.K., France, and Germany.
Key players in the EMEA IoT market include IBM Corporation (U.S.), SAP SE (Germany), Microsoft Corporation (U.S.), Amazon Web Services (U.S.), PTC, Inc. (U.S.), and General Electric (U.S.), among others. These players have adopted various strategies, such as partnerships, collaborations, agreements, new product launches, and acquisitions to achieve growth in the EMEA IoT market. Partnerships, collaborations, and agreements together accounted for a share of 64% of the total developments that took place in the EMEA IoT market between 2014 and 2016, while new product launches accounted for 19% share. Market players have been focusing on these strategies to increase their customer base and revenues.
IBM Corporation (U.S.) is collaborating with various IoT players to expand its IoT portfolio and offer innovative solutions. For instance, it collaborated with Texas Instruments to develop a cloud-hosted platform and lifecycle management IoT services to enhance its portfolio of solutions. In March 2015, IBM invested USD 3 billion to setup an IoT unit to build a cloud-based open platform to help clients and ecosystem-partners develop IoT solutions. These initiatives by IBM help organizations across industry verticals bring IoT solutions to their facilities. Watson IoT is also an innovative offering from IBM that brings the power of cognitive to the challenge of extracting and analyzing data embedded in intelligent devices in real-time. All these developments will have a global impact, especially in the EMEA region.
SAP is the fastest-growing and the top cloud computing company in the world. The company aims to continue investments in public and managed cloud offerings. The SAP HANA Cloud Platform, which offers in-memory platform for real-time communications, has enhanced the ease of using IoT applications in various industry verticals. It is a PaaS offering that allows deployment of application and runs them securely and reliably. The concept of SAP Predictive Maintenance, Connected Logistics, Connected Manufacturing, and Connected Retail for IoT applications would enable organizations across verticals harness the power of IoT and M2M technologies to transform their businesses.
Along with the increasing use of IoT, instances of internal and external data breaches to the system have also increased. To minimize these threats, companies collaborate to develop security solutions as well as solutions that enable the smoother functioning of applications. For instance, in 2015, SAP and Intel collaborated to provide solutions that would simplify, secure, and scale IoT for enterprises.
This research report on the EMEA IoT market analyzes global adoption trends, future growth potentials, key drivers, competitive outlook, restraints, opportunities, regulatory landscapes, and value chain of this market.
EMEA IoT Market by Component (Platform, Service, Software Solution), Application (Building & Home Automation, Smart Energy, Smart Manufacturing, Connected Logistics, Smart Retail, Connected Health), and Region (Europe and MEA) - Forecast to 2021
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