Internet of Things technology has taken the networking and communication sphere to great heights, says a market study by released by Transparency Market Research (TMR). The report is titled “Internet of Things Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2021” and states that the Internet of Things market will develop at a whopping 21.40% CAGR from 2015 to 2021.

The Internet of Things is a network of physical objects, each of which are embedded with electronics, sensors, software, and network connectivity for data exchange. Owing to this, each of the objects in the loop can communicate either directly or indirectly with each other or with a central node. Hence, the technology is extremely useful for real-time exchange of information, especially in sectors such as healthcare and defense. It helps efficiency and cost reduction, which is the major factor propelling the Internet of Things market.

Browse Market Research report at http://www.transparencymarketresearch.com/internet-of-things-market.html

However, data security risk and over-dependence on technology are limiting the growth of this market.

The report segments the global market for the Internet of Things on the basis of technology, application, and geography. By technology, the various segments of the market are ZigBee, near field communication (NFC), radio frequency identification (RFID), Bluetooth low energy (BLE) and Wi-Fi, of which Wi-Fi dominated the Internet of Things market in 2014. The large market share of Wi-Fi in the Internet of Things market is due to the extensive commercial usability of the technology, especially in healthcare and education arenas.

The report includes market share analysis of major industry participants such as Google Inc., Apple Inc., Intel Corp., Cisco Systems Inc., Microsoft Corp, and IBM Corp., among others that have a significant presence in the Internet of Things market.

About TMR

Transparency Market Research (TMR) is a market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.