Prominent Internet of Everything (IoE) developers are primarily investing in tech innovations during the crisis period to bolster functionality and scope of applications.
DUBAI, UAE / ACCESSWIRE / July 10, 2020 / With the rapid rise of the coronavirus pandemic, the Internet of Everything (IoE) market has gained substantial traction in terms of applications in healthcare systems, not only in terms of tracking and monitoring patients, but also in terms of healthcare administration operations. Such improvements not only generate better patient outcomes, but also reduce costs in the healthcare facilities. The internet of everything market will display a 16.4% CAGR during the forecast period.
"IoE helps in optimizing data for the collation and use of crucial insights which helps in critical decision making. Consequently, demand for industry 4.0 applications is also expected to increase in the near future and positively impact the global Internet of Everything market.," says the FMI analyst.
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Internet of Everything (IoE) - Primary Takeaways
- Software IoE components are rapidly gaining traction supported by applications in automation, security, and data analytics among others.
- Healthcare applications of IoE are expected to contribute substantially, supported by innovations in wearables and facility administration.
- North America is a dominant Internet of Everything market, with key applications in government, retail, and manufacturing sectors.
Internet of Everything (IoE) - Growth Factors
- Rising penetration of portable devices such as tablets and smartphones aid IoE tech improvements.
- High global internet usage is a major factor contributing to growth opportunities in the IoE market.
- Benefits of mobility, cloud, data analytics, and social networks together, enable major market growth.
Internet of Everything (IoE) - Major Constraints
- Inadequate data transfer infrastructure and speeds hurt IoE market growth prospects.
- Inherent complexity of internet of everything systems are a key obstacle to market players.
The Projected Impact of Coronavirus
In the current pandemic situation, most countries have taken measures to contain the outbreak with cost-effective yet practical management and monitoring solutions. Interconnected devices in IoE enable access to patients remotely, and allows the optimized utilization of facilities in the organized sector to adequately deal with the massive influx of coronavirus patients. These trends will help bolster market growth in during and after the pandemic period.
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Competition Landscape
The Internet of Everything (IoE)s comprises players including but not limited to Samsung Electronics Co., IBM Corporation, Hewlett Packard Co., Cisco Systems Inc., Telefonica S.A., Apple Inc., and Google Inc. Market players are seeking strategic mergers and acquisitions, in addition to tech advancements.
For instance, Continental has developed 5G-capable intelligent antennas for automotive IoE applications.
More About the Study
The FMI study provides detailed insights on Internet of Everything (IoE)s. The market is broken down in terms of intelligent systems (sensors, smart devices, and radio-frequency intelligent devices), enablement infrastructure (LAN, WAN, 3G, LTE, IPV6, HSPA, Bluetooth, and Zigbee) and segments (consulting services, outsourcing services, and integration services), across seven key regions (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and MEA).
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