Global IoE market to hit $7,130.4B in 2020
Future Market Insights (FMI) has predicted that the global IoE market will expand at a 16.4 per cent CAGR through 2020 to reach $7,130.4 billion. According to the market analyst, increased spending on technology and proliferation of connected devices are the main factors driving the growth of the global IoE market.
Rising demand for ICT goods, especially in the Asia Pacific region is also anticipated to provide an impetus to the global IoE market. Emergence and growth of big data is another factor that will augur well for the prospects of the global IoE market.
The global IoE market is broadly segmented into two verticals: consumer and business to business (B2B). The consumer vertical, which had a valuation of $624.3 billion and over 25 per cent share of the global IoE market, was the dominant segment in 2013. However, the segment is expected to lose 190 BPS to B2B vertical and the B2B segment will outpace consumer vertical segment in terms of revenue share by 2020.