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Global IoT Prospects Bright, Investors Pour in Billions
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Internet of Things (IoT), which enables any physical electronic device with a valid IP-address to transfer data seamlessly over a wireless network, is the latest in the league of service and business models that is quickly gaining market traction. According to a recent report by research firm International Data Corporation (IDC), worldwide spending on IoT is slated to grow at a 15.6% compound annual growth rate (CAGR) to nearly $1.29 trillion in 2020 from $737 billion in 2016.
Next-generation superfast wireless networks (4G LTE, LTE-A, upcoming 5G) will provide the primary impetus to the telecom industry. In this context, IoT has the potential to be the numero uno factor driving future growth in this space. Notably, IoT is a network of physical objects embedded with electronics, software, sensors and connectivity that enables it to achieve greater value and service by exchanging data with other connected devices.
As per the IDC report, the industries that are likely to make the largest IoT investments in 2017 are manufacturing ($178 billion), transportation ($78 billion) and Utilities ($69 billion). Consumer IoT purchases, which was the fourth largest market segment in 2016, is poised to become the third largest by 2020, as per market researchers.
At present, the deployment of innovative connectivity platforms to deliver seamless, fully integrated mobile communication with global networking has become crucial to the success of wireless service providers’. Massive growth of 4G LTE (Long-Term Evolution) and LTE-A (Advanced) networks across the globe will lead to a smooth transition from 4G to the upcoming 5G network standard. Superfast 5G mobile networks will be of utmost importance for the efficient management of the exponential IoT growth.
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Global IoT Prospects Bright, Investors Pour in Billions
Internet of Things (IoT), which enables any physical electronic device with a valid IP-address to transfer data seamlessly over a wireless network, is the latest in the league of service and business models that is quickly gaining market traction. According to a recent report by research firm International Data Corporation (IDC), worldwide spending on IoT is slated to grow at a 15.6% compound annual growth rate (CAGR) to nearly $1.29 trillion in 2020 from $737 billion in 2016.
Next-generation superfast wireless networks (4G LTE, LTE-A, upcoming 5G) will provide the primary impetus to the telecom industry. In this context, IoT has the potential to be the numero uno factor driving future growth in this space. Notably, IoT is a network of physical objects embedded with electronics, software, sensors and connectivity that enables it to achieve greater value and service by exchanging data with other connected devices.
As per the IDC report, the industries that are likely to make the largest IoT investments in 2017 are manufacturing ($178 billion), transportation ($78 billion) and Utilities ($69 billion). Consumer IoT purchases, which was the fourth largest market segment in 2016, is poised to become the third largest by 2020, as per market researchers.
At present, the deployment of innovative connectivity platforms to deliver seamless, fully integrated mobile communication with global networking has become crucial to the success of wireless service providers’. Massive growth of 4G LTE (Long-Term Evolution) and LTE-A (Advanced) networks across the globe will lead to a smooth transition from 4G to the upcoming 5G network standard. Superfast 5G mobile networks will be of utmost importance for the efficient management of the exponential IoT growth.
U.S. telecom behemoths like Verizon Communications Inc. (VZ - Free Report) and AT&T Inc. (T - Free Report) , U.S. national wireless carrier T-Mobile US Inc. (TMUS - Free Report) and UK-based global telecom operator Vodafone Group plc. (VOD - Free Report) are better poised to benefit from the IoT boom. All four stocks mentioned above currently carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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