United States Hydroponics Market to Soar with Declining Arable Land Cultivation with Revenue of USD 3,695.7 Million by 2025

There is a deduction of 3.07% of arable land in the last 54 years in the United States ~The World Bank

“U.S. Hydroponics Market Outlook: Industry Analysis & Opportunity Evaluation 2017-2025”

The U.S. hydroponics market is riding on the back of the indoor or soil less farming due to the growing population of America leading to the decrease in arable land cultivation. In addition to that, there is a growing demand for food and higher yield along with eliminating the need for herbicides and pesticides. The leading manufacturers are continuously enhancing the performance of the hydroponic products with the help of advanced equipment used in hydroponics farming by adding new features accompanied with launching new products to attract the consumers. The increasing popularity of hydroponics is predicted to expand the U.S. hydroponics market by reaching USD 3,695.7 Million by 2025, soaring its way up from USD 880.7 Million in 2017 by witnessing a CAGR of 20.3% over the period 2018-2025.

The growing adoption of hydroponics systems for growing plants in small area is opening a gateway of opportunities for the hydroponics in the U.S. market. Further, the U.S. hydroponics market is segmented by crop type into tomato microgreens, lettuce & leafy vegetables, pepper, cucumber, marijuana, strawberry and others, out of which the lettuce and leafy vegetables segment dominated the overall U.S. hydroponics market by accounting for more than 35% of the total market share in 2017 and is predicted to dominate the market by crossing highest market revenue of USD 1,480 Million by 2025.

The microgreens segment was the second largest shareholder in the market with 20% of market share in 2017. Furthermore, marijuana segment is estimated to witness significant demand and is predicted to grow with highest CAGR of 22.4% during 2018-2025
Increasing Popularity Soil-Less Farming to Escalate the Demand for Hydroponics in FutureThe U.S. hydroponics market is thriving on the back of increasing popularity of vertical or soil less farming. Request Report Sample- www.researchnester.com/sample-request-1208

Decreased Cultivation Area – The growing population in America is believed to decrease the cultivation area which is likely to positively impact to growth of the hydroponic industry in the US.

Better Yield– Unaffected from the seasonal changes, the crop yield and the quality is higher.

Less Time Consuming – Hydroponics system of cultivation is less time consuming and can be cultivated closer to the customer and further help in reducing the transport emission. 

Industry Players’ are Progressing towards Minimizing the Barriers faced by the U.S. Hydroponics Market

According to Research Nester, lack of experience and technical knowledge on hydroponics plantation is envisioned to hinder the growth of the U.S. hydroponics market.

High Cost – The initial set-up cost of hydroponics is very high.

Frequent Monitoring – Hydroponic farms demand continuous supervision and monitoring with respect to the required lighting, nutrients etc. 

The report titled “U.S. Hydroponics Market Outlook: Industry Analysis & Opportunity Evaluation 2017-2025” delivers detailed overview of the U.S. 
hydroponics market in terms of market segmentation by crop type. Request For TOC Here: www.researchnester.com/request-toc-1208

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the key players of the U.S. hydroponics market which includes company profiling of AmHydro, Cropking, Complete Hydroponics, General Hydroponics, Freight Farms, H2O Farm, Sinowell, Vertical Harvest Hydroponics, Hydrofarm Inc. and Metropolis Farms Inc.

The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the U.S. hydroponics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future. Buy This Premium Reports Now @ www.researchnester.com/payment/rep-id-1208 

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Research Nester is a one-stop service provider with a client base in more than 120 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds

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The Global Office Furniture Market to be Driven by Growing Employment Rate with USD 87.6 Billion by 2024

The Sales Volume of the Global Office Furniture Market is believed to cross 360 Million Units by 2024

“Global Office Furniture Market Outlook: Industry Demand Analysis & Opportunity Evaluation 2016 – 2024”

The rise in office construction spending and increasing office leasing activities across the globe is positively impacting the growth of the office furniture market. Further, the significant growth of global GDP, rising trend of home offices, new employment opportunities, changes in job quality and ease of recruitment through social media and other platforms are some of the dynamic factors that are adding to the worldwide growth of the office furniture market.

Apart from this, increasing health and environment awareness amongst the population has led manufacturers to develop more health beneficial, eco-friendly and ergonomic office furniture so as to create a healthier workplace. Factors such as these are driving the demand for office furniture products and are predicted to expand the office furniture market by reaching USD 87.6 Billion by the end of 2024 from USD 52.7 Billion in 2016 by expanding at a CAGR of 6.7% during 2017-2024.

The global office furniture market is segmented by product type into seating, overhead bins, storage units, tables, accessories and workstations, out of which the seating segment accounted for the largest market share in 2016 and is predicted to supplement the growth of the market with CAGR of 6.7% in terms of volume over the forecast period. After seating segment, the workstation was the second largest segment that held 30.6% of the total revenue share of the market. Further, the accessories segment is predicted to observe the growth rate of 1.4x over the forecast period.

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Growing Rate of Employment to Escalate the Demand for Office Furniture Products in Future

The global office furniture market is thriving on the back of increasing rate of employment opportunities across the globe.

Growing Number of Offices – Increasing employment rate is boosting the growth of new offices across all the regions of the world.

Rapid Introduction of New Products – Manufacturers are offering advanced and innovative designed furniture which is healthier, comfortable and technologically enhanced.

Increasing Construction Activities – Expansion of multi-national companies, rapid urbanization and establishment of new office buildings in urban areas and growth of real estate in developing nations is anticipated to foster the growth of the office furniture market all over the globe.

Industry Players’ are Progressing towards Minimizing the Barriers faced by the Global Office Furniture Market

According to Research Nester, the growth of the global office furniture market is affected by worldwide economic challenges.

High Cost of Raw Material – The fluctuating cost of raw material and lack of skilled workforce along with heavy trade tariffs are affecting the profitability of the furniture manufacturers.

Online Renting Furniture Trend – Growing popularity of virtual workplace combined with the rising trend of furniture rental and adoption of old furniture are reducing the demand for new furniture in the market.

The report titled “Global Office Furniture Market Outlook: Industry Demand Analysis & Opportunity Evaluation 2016 – 2024” delivers detailed overview of the global office furniture market in terms of market segmentation by product type, material, price-range, by distribution channel, end-user and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the key players of the global office furniture market which includes company profiling of Steelcase Inc., Inter IKEA Group, Haworth Inc., Okamura Corporation, Hooker Furniture, Herman Miller Inc., HNI Corporation, Kokuyo Co. Ltd., Knoll Inc. and Kimball International Inc.

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Request The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global office furniture market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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About Research Nester

Research Nester is a one-stop service provider with a client base in more than 120 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.

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The Global Portable Solar Charger Market to Reach USD 47,913.3 Million by 2023

In today’s fast moving world, people are adopting on-the-go friendly products and with growing awareness of depletion of energy sources, there is a hike in the demand for environment friendly based gadgets. Factors such as these are driving the manufacturers to come up with innovative solutions with efficient and affordable energy saving products. The growing trend of solar energy and its benefits have steered the demand for portable solar chargers among people.

 The rising sales of smartphones, tablets, cameras and other electronic gadgets combined with the inclination of consumers towards the clean energy are the major reasons which are creating huge opportunities for the portable solar charger players to introduce their products in the market which is further believed to supplement the growth of the global portable solar charger market with a CAGR of 13.2% over the period 2017–2023. Moreover, various government initiatives and rising consumer awareness is believed to supplement the growth of the global portable solar charger market to flourish its way up from USD 20,498.4 Million in 2016 to a significant market valuation of USD 47,913.3 Million by the end of 2023.

The global portable solar charger market is divided into product type and end-user, out of which, the product type is further segmented into solar trickle, clamshell, folding and backpack solar chargers. Among these segments, the clamshell solar charger segment held the dominant share in 2016 and is believed to remain highest in upcoming years. This can be attributed to the rising sales of electronic gadgets such as smartphones and cameras among others. The second largest shareholder in the market was the folding solar charger segment with 31.6% market share in 2016. Further, the folding charger segment is expected to achieve Y-O-Y growth rate of 14.3% in 2023 owing to the convenience while carrying them. Moreover, these chargers are ideal for charging multiple devices at a time. Sample Request -https://www.researchnester.com/sample-request-1196

Increasing Popularity of Efficient Energy Products to Escalate the Demand for Portable Solar Chargers in Future

The global portable solar charger market is thriving on the back of growing demand for portable, convenient and time saving power products around the globe.

Technology Development – The high adaptability and encouragement of new technologies in developed regions is penetrating the market for portable solar chargers.

Environment and Energy Saving Concerns – The consumer electronic industries are transitioning from non-renewable energy products to renewable energy products due to environmental concerns such as global warming and pollution.

Government Initiatives – Portable solar products are expected to witness growth owing to the various government initiatives combined with increasing consumer awareness regarding the use of solar power products.

Industry Players’ are Progressing towards Minimizing the Barriers faced by the Global Portable Solar Charger Market

According to Research Nester, the lack of awareness related to renewable resources in under-developed countries is envisioned to hinder the growth of the global portable solar charger market across the globe.

Lower Operating Capacity – The portable solar chargers have lower efficiency and limited operating capacity.

Lack of Solar Energy Policies – The lack of supportive solar energy policies and regulations in under-developed countries is believed to discourage the market growth.

The report titled “Global Portable Solar Charger Market Outlook: Industry Demand Analysis & Opportunity Assessment 2016–2023” delivers detailed overview of the global portable solar charger market in terms of market segmentation by the product type, end-user and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the key players of the global portable solar charger market which includes company profiling of Philips Electronics, Cobra Electronics, SolarTab, Poweradd, Solio, Solar Frontier, GoalZero, Anker, Suntrica and Empo-Ni.

The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global portable solar charger market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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Research Nester is a one-stop service provider with a client base in more than 120 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Read Full Report- https://www.researchnester.com/reports/portable-solar-charger-market/1196

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The Global 3D Printed Drugs Market to be Augmented by Rising Neurology Cases with Revenue of USD 1,559.8 Million by 2024

Growing rate of the technological developments in 3D printing has advanced to a wide range of applications in various end-user industries. It is one of the major factors boosting the ever evolving medical field due to the ongoing advancement going in 3D printed drugs. The demand for 3D printed drugs is believed to expand in upcoming years owing to the ease of ingestion of the drugs combined with inducing various flavors to negate the sour taste for the patients suffering from several diseases causing seizures such as epilepsy along with the medicinal intake by elderly people and infants. Further, the applications of 3D printed drugs in customized medicinal therapy are widening its area to various diseases such as cancer and others that could not be done before. These factors are predicted to supplement the growth of the 3D printed drugs by reaching USD 1,559.8 Million by the end of 2024 from USD 489.9 Million in 2017, by witnessing a CAGR of 18.2% over the period 2018-2024.

The global 3D printed drugs market is segmented by applications into orthopedic, neurology, hearing & audibility aid, medical implants, dental and others, out of which, the neurology segment held the dominant market share of more than 35% in 2016. There is the presence of major number of diseases related to brain disorders that are directly or indirectly related to the malfunctioning of the nervous system. Driven by these factors, the neurology segment is believed to dominate the 3D printed drugs market and is anticipated to achieve absolute $ opportunity of USD 437.9 Million between 2018 and 2024. Further, the orthopedic segment held the second largest share of 23.0% in 2016 and is predicted to observe the significant growth rate between the period 2018 and 2024. Furthermore, the hearing & audibility aid segment is believed to be augmented with highest CAGR over the forecast period. SampleRequest -https://www.researchnester.com/sample-request-1200

Increasing Popularity of Personalized Medicine to Escalate the Demand for 3D Printed Drugs Market in Future

The 3D printed drugs market is thriving on the back of high-drug loading capacity such as high production rates and increasing R&D activities among major market players along with its wide range of applications around the globe.

Flexibility in Design – The high drug loading capacity is possible due to the flexibility in design, development and manufacture of single or multi-drug products with built-in immediate and controlled-release layers that can be tailored to unique patient’s situations.

Ease in Ingestion – By enabling delivery of high-dose medications in a rapidly fragile form, ZipDose overcomes the patients’ difficulty in swallowing.

Industry Players’ are Progressing towards Minimizing the Barriers faced by the Global 3D Printed Drugs Market

According to Research Nester, the lack of strict regulatory norms associated with the approval for 3D printed drugs in the developed countries is envisioned to hinder the growth of the 3D printed drugs market across the globe. Further, various security and safety concerns associated with the patient’s medical data might add to the slow growth rate of 3D printed drugs market during the forecast period.

The report titled “Global 3D Printed Drugs Market Outlook: Industry Demand Analysis & Opportunity Evaluation 2017-2024” delivers detailed overview of the 3D printed drugs market in terms of market segmentation by application and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. Request Toc -https://www.researchnester.com/request-toc-1200

This report also provides the existing competitive scenario of some of the key players of the 3D printed drugs market which includes company profiling of Aprecia Pharmaceuticals LLC., FabRx Ltd. and GlaxoSmithKline (GSK).

The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the 3D printed drugs market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the

Future.Read full Report- https://www.researchnester.com/reports/3d-printed-drugs-market/1200

About Research Nester

Research Nester is a one-stop service provider with a client base in more than 120 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.

Contact for more Info:

Ajay Daniel

Email: ajay.daniel@researchnester.com

U.S. Phone: +1 646 586 9123

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The Global Team Sports Market to Rise with Growing Sports Events with Revenue of USD 25,346.5 Million by the end of 2024

 “Global Team Sports Market Outlook: Industry Demand Analysis & Opportunity Assessment 2016-2024”

The growing number of sports events around the globe is motivating more people to participate in the games. Along with that, rising health and fitness awareness amongst population is driving them to take up fitness and sports activities in their day-to-day lives. These are the major key factors that are driving the people to adopt outdoor sports activities such as football, baseball, volleyball, cricket and basketball among other sports activities which has further driven the growth of the global team sports market. The global team sports market reached USD 13,700.0 Million in 2016 and is expected to reach USD 25,346.5 Million by the end of 2024 by expanding at a CAGR of 8.1% over the forecast period.

The market is segmented by sports and demography. The sports segment is further segmented into basketball, football, volleyball, cricket and rugby among others, whereas by demography, the global team sports market is segmented into male and female. The male segment dominated the overall global team sports market by holding a market share of 64.5% in 2016. On the other hand, the female segment is believed to witness highest CAGR of 9.4% during the forecast period owing to their increasing participation in sports activities across the world. Further, the female segment is believed to achieve absolute $ opportunity of USD 4,624.2 Million during 2017-2024.

Rising Adoption of Innovative and Advanced Sports Products to Augment the Demand for Athleisure Wear in Future

The global team sports market is thriving on the back of increasing innovations in sportswear technologies that fulfills both fashion and function needs of the team players around the globe.

Rising Sports Events Globally – There is a worldwide increase in the number of sports events which are gaining popularity and are attracting maximum number of sports fans towards these events.

Rising Adoption of Sports Apparel – The consciousness towards health among people and fitness enthusiasts has led to the spiked adoption of the sports apparel around the world.

Growing Fan Base – The growing fan base of different teams and games is likely to bolster the expansion of global market size of the team sports in future.

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Industry Players’ are Progressing towards Minimizing the Barriers faced by the Global Team Sports Market

According to Research Nester, the availability of the counterfeit products is posing as a major threat to the sports industry. Further, the rapidly changing fashion trends, rising prices of raw material and less involvement of women in sports activities in emerging countries is believed to hinder the growth of the global team sports market in upcoming years.

The report titled “Global Team Sports Market Outlook: Industry Demand Analysis & Opportunity Assessment 2016-2024” delivers detailed overview of the global team sports market in terms of market segmentation by sports, by demography and by region.

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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the key players of the global team sports market which includes company profiling of Macron, Joma, Kelme, ERIMA, Jako, Canterbury, Hummel and Uhlsport GmbH.

The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global team sports market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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Research Nester is a one-stop service provider with a client base in more than 120 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.

Contact for more Info:

Ajay Daniel

Email: ajay.daniel@researchnester.com

U.S. Phone: +1 646 586 9123

U.K. Phone: +44 203 608 5919

Rising Advancement in Technology is Anticipated to Drive the Growth of Skype Certified Headset Market in Future, According to Research Nester

“Skype Certified Headset Market: Global Demand Analysis & Opportunity Outlook 2027

The global skype certified headset market is segmented into type such as wireless skype certified headset and wired skype certified headset. Among these segments, wired skype certified headset is expected to grow at highest CAGR in overall global skype certified headset market during the forecast period. Factor such as, colossal adoption of skype certified headset is believed to impetus the growth of the eddy current testing segment over the forecast period.

Global skype certified headset market is expected to flourish at a significant CAGR over the forecast period. Factor such as, increasing application of skype certified headset in various sectors such as healthcare sector, education sector and other sector is anticipated to drive the growth of the global skype certified headset market over the forecast period. Moreover, technological advancements such as noise cancellation techniques provide better communication experience is expected to increase the overall market of skype certified headset in upcoming years.

North America dominated the overall skype certified headset market and is expected to continue its control over the forecast period. Further, increasing demand of skype certified headset for online education through skype platform is expected to accelerate the growth of the market in the upcoming years which in turn is likely to propel the demand for skype certified headset. Furthermore, Europe skype certified headset market is anticipated to witness robust growth during the forecast period. Further, increasing disposable income in the region is anticipated to positively impact the growth of the global skype certified headset in Europe.

Expansion of IT in Developing Regions

Factor such as, rising government initiatives regarding expansion of IT is anticipated to robust the growth of the global skype certified headset market over the forecast period. Increase in demand of various online training and e-learning programs are expected to increase the overall market of skype certified headset over the forecast period.

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Increased Adoption of Skype for Business

In addition, increasing adoption of skype certified headsets on the account of increasing business activities over skype by many manufacturers is anticipated to robust the growth of the global skype certified headset market over the forecast period. Further, improved design and better comfort skype certified headset is a key factor which is expected to dominate the growth of global skype certified headset market in the upcoming years.

However, availability of counterfeit skype certified headsets and lack of awareness about the skype certified headsets is likely to limit the growth of global skype certified headset market over the forecast period.

The report titled “Skype Certified Headset Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global Skype Certified Headset market in terms of market segmentation by price range, by technology, by distribution channel and by region.

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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and porter’s five force model.

This report also provides the existing competitive scenario of some of the key players of the global skype certified headset market which includes company profiling of Sennheiser Electronics, Dell Inc., HP Development Co., Logitech International, Panasonic Corporation, VXi Corporation, GN Store Nord, Jabra Corporation, Koss Corporation and Plantronics Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global skype certified headset market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

About Research Nester

Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.

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The Global Internet of Things (IoT) Market to be Augmented by Growing Digitalization with USD 2,108.2 Billion by 2023

“Global Internet of Things (IoT) Market Outlook: Industry Demand Analysis & Opportunity Evaluation 2016-2023”

The technological advancement has led the use of ‘Internet of Things (IoT)’ in applications such as consumer smart home applications, building and home automation, infrastructure, agriculture, environmental monitoring, medical & healthcare, manufacturing, energy management, old-age care and numerous others. It works on a simple concept, connecting all the devices, things or products with RFID (Radio Frequency Identification) along with routers, actuators and sensors like temperature sensors, moisture sensors, light sensors, a motion sensor etc. and saves that data for future predicaments of their functionality over the internet. 

The rapid pace of urbanization in developed regions and growing demand for connected smart devices are driving the growth of the IoT market with a CAGR of around 17.56% between the years 2016 and 2023. The intelligent algorithms based on the data collected on different intervals of time are predicted to expand the global internet of things (IoT) market with significant valuation of USD 2,108.2 Billion by 2023 from USD 679.4 Billion in 2016.

The market is segmented by product type into components and software, out of which the software segment is predicted to grow with highest CAGR of 20.24% over the forecast period. The components segment dominated the overall market with revenue of USD 512.3 Billion in 2016 and is expected to behold this positive growth over the forecast period. The components segment is further divided into devices, sensors, actuators and platforms. Among these segments, the devices segment is the largest revenue generating segment and is expected to observe Y-o-Y growth of 18.6% in 2023.

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Increasing Popularity of Smart Gadgets to Escalate the Demand for Internet of Things (IoT) Devices in Future

The global internet of things (IoT) market is thriving on the back of rising technological advancements in various end-user industries such as agriculture where IoT-based smart farming in agriculture industry helps the farmers to monitor crop field, livestock and storage combined with farm vehicle tracking, variations in weather conditions, humidity and soil moisture with the help of sensors being controlled from anywhere.

Enhanced Connectivity Infrastructure – There is development of smart infrastructure in developing and developed nations such as U.S., China, Japan, India and others

Rise in Disposable Income – The swelled disposable income of the population supported by the positive GDP figures in growing nations is supporting the penetration of smart consumer electronics and need for high connectivity which is further boosting the demand for internet of things (IoT) services.

Growing Digitalization – There is a rapid pace in digitalization across the globe in various end-use industries and shifting of public and private sectors towards the adoption of IT-based services to enhance the customer experience and to increase the operational efficiency.

Industry Players’ are Progressing towards Minimizing the Barriers faced by the Global Internet of Things (IoT) Market

According to Research Nester, the lack of skilled expertise and high cost of IoT solutions and services is envisioned to hinder the growth of the global internet of things (IoT) market across the globe.

Privacy and Security – It is a challenging task for the end-use industries to provide connectivity and cloud services with high end security which has led to the privacy and security concerns related to the data theft.

High cost of IoT solutions – Due to the high cost of IoT solutions and services, small and medium enterprises are shifting towards low cost solutions owing to low budgets of enterprises.

The report titled “Global Internet of Things (IoT) Market Outlook: Industry Demand Analysis & Opportunity Evaluation 2016-2023” delivers detailed overview of the global internet of things (IoT) market in terms of market segmentation by components type, software, application and by region.

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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the key players of the global internet of things (IoT) market which includes company profiling of IBM Corporation, Amazon.com Inc., Microsoft, Cisco Systems Inc., PTC Inc., HP Company and Accenture PLC.

The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global internet of things (IoT) that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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