European IoT market is expected to witness a significant growth with the CAGR of approximately 21.2% during the forecast period. The GDP of European Union was estimated to be $17.6 trillion in 2016. National, regional and local governments, as well as private companies are major buyers of cloud-based services in the region, and this is the major opportunity in this region. As per Central investigation Agency mobile cellular connection in the European Union was 632.5 million in 2015 over the population 515 million which is about 122 connections per 100 habitants. Around 501 million internet users were active in the European Union in 2017. UK, Spain, Germany, France and Italy are among the country contributing significantly towards the growth of IoT market. Europe represents a significant market and has a good market share in IoT.
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European IoT market is segmented on the basis of infrastructure, vertical, and application. Based on the infrastructure, the market is segmented into platform, mobile networks and access technologies, cloud solutions/storage and processing, analytics, and security. Based on the vertical, the market is segmented into healthcare, energy, public & services, transportation, retail, individuals, and others (manufacturing). Healthcare segment includes health, pharmaceuticals segment, and biotechnology. Public & Services includes government, BFSI, others (hospitality and entertainment).transportation segment include aerospace, automotive, rails and systems, and marine. Further, based on the infrastructure, the market is segmented into smart home, smart wearable, smart cities, smart grid, IoT industrial internet, IoT connected cars, IoT connected healthcare, and others (toys and drones).
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European IoT Market Segmentation
By Infrastructure
· Platform
· Mobile Networks and Access Technologies
· Cloud Solutions/Storage and Processing
· Analytics
· Security
By Vertical
· Healthcare
· Health
· Pharmaceuticals Segment
· Biotechnology
· Energy
· Public & Services
· Government
· BFSI
· Others (Hospitality and Entertainment)
Transportation
· Aerospace
· Automotive
· Rails And Systems
· Marine
· Retail
· Individuals
· Others (Manufacturing)
By Application
· Smart Home
· Smart Wearable
· Smart Cities
· Smart Grid
· IoT Industrial Internet
· IoT Connected Cars
· IoT Connected Healthcare
· Others (Toys and Drones)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
