Most predictions we see about the IoT’s future are pretty outlandish, but in a new report, research firm MarketsandMarkets has made a conservative estimate, it seems.
According to a market research reported on June 29, called “In-Building Wireless Market by System Components, Business Models, Building Size, Building Type, End Users, & Regions - Global Forecast to 2020,” this market could grow from $4.83 billion this year to $16.71 Billion by 2020, a CAGR of 28.1 percent over that period.
The market for in-building wireless solutions is gaining traction, the report said, with an increase in the dependency on mobile data to address the need of connectivity and mobile devices becoming the preferred means of communication. In-building wireless has become more than the extension of a cellular network. Instead, it is the basis for the reliable delivery of services and continuous communication within a building or campus that improves individual performance and ensures public safety. Strict government regulations have made the traditional way to enhance the network capacity obsolete. With its wireless solutions, a mobile environment can offer reliable communication infrastructure.
In-building wireless solutions address the need for pervasive coverage and enhanced quality of service in terms of availability, capacity, and consistency. The demand for in-building wireless solutions is increasing as businesses realize the impact of pervasive coverage and effective communication environment on individuals' productivity, the report said. While organizations look forward to availing better prices with multi operators, the in-building wireless solution providers are designing systems with robust capabilities to extend support for dedicated capacity and reduced radiations.
To learn how to capitalize on this kind of trend and get your company a bite of that potential $16 billion, put the IoT Evolution Expo on your calendar. See you in Vegas.