The overall IOT communication protocol market, in terms of value, is expected to grow from USD 11.44 billion in 2015 to USD 15.80 billion by 2022, at a CAGR of 4.66% between 2016 and 2022. The market is highly diversified and competitive with market players that include top-tier and mid-tier companies and as well as start-up firms. With the rate of proliferation of wireless sensors, the increasing adoption of emerging technologies, and mainstreaming of many smart consumer applications, the IoT technology has become the most popular concept across domains, such as automotive, healthcare, and consumer electronics among others.

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This report covers the IoT communication protocol market segmented on the basis of connectivity technology, end-use application, and region. The market study includes the market size of different technologies such as Wi-Fi, Bluetooth, Bluetooth Smart, Wi-Fi/ Bluetooth, Ant+/Bluetooth, ZigBee, NFC, GNSS, WHART, Cellular, NFC, and EnOcean among others. The market is segmented on the basis of end-use application into wearable devices, healthcare, automotive & transportation, building automation, industrial, consumer electronics and precision farming. The market is segmented on the basis of geography into North America, Europe, Asia-Pacific, and Rest of the World.

The market for Wi-Fi connectivity technology held the largest share followed by Bluetooth. The major reason for the large share is that Wi-Fi is already being widely deployed, and it is easy to add new devices to the enterprises, hospitals and homes. Bluetooth is also widely deployed and operates at low power and have reliable connectivity. The major market for Wi-Fi and Bluetooth is in consumer electronics which include smartphones, smart TVs, home theater projectors, next-generation console, tablets & laptops and set-top boxes in consumer devices, and washing machine, refrigerator, dishwasher and ovens in consumer appliances.

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The North America region held the largest share of the IoT communication protocol market in 2015. The major driving factors for the growth in the North America region are increased research and development in the field of IoT, high penetration of Internet and smartphones, and growth of a number of IoT startups. The APAC region is expected to grow at the highest CAGR during the forecast period. The presence of a huge end-user base in advanced economies such as Japan and South Korea and the growing demand for energy management systems are further expected to drive the market in this region.

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