The global IoT communication protocol market is expected towitness a healthy growth on account of the high demand from businesses andorganizations. IoT will be in high demand and be used as a key model fororganizations across various verticals in the years to come on account of thehigh operational efficiency it provides. In addition to this, IoT enables costsavings, which is a key requirement for most organizations.

Some of the factors boosting the global IoT communicationprotocol are increased adoption of wireless sensors and increasing popularityof cloud computing. Another factor aiding the growth of the global IoTcommunication protocol market is the support of the government. Across theglobe, governments have been increasingly funding for the research anddevelopment of the IoT field. This support from the government has been a keyfactor for widening the scope of the IoT communication protocol market. Hugefunding from governments across the globe has resulted in innovativecross-domain applications of IoT and has immensely benefitted the growth ofthis industry and therefore, IoT is now increasingly penetrating acrossindustries. It is anticipated that the future will see higher adoption of IoTacross verticals supported by the easy availability of high speed internet andincreasing popularity of wearable devices.

The initiatives taken by emerging countries to brace up andjoin other nations in terms of being technologically advanced will make themkey markets for IoT communication protocol in the future. Aggressiveinvestments are being made by nations such as India, China, and Japan andleading towards an increased adoption of the Internet of Things. This isboosting the demand for IoT chip and driving the IoT communication protocolmarket in turn.

In Internet of Things, the interconnected devices areusually of short range, low power, wireless devices with their own predefinedset of operations. Moreover, these devices are not compatible to existinginternet protocol due to which a new set of protocols are developed to caterthe requirements of the IoT. Some of the most widely used protocols in IoT areMessage Queuing Telemetry Transport (MQTT), Constrained Application Protocol(CoAP) etc. These protocols facilitates in power conservation making devicesoperate for a longer duration of time. 

Request Sample @ :

https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=36863

The IoT communication protocol market has been experiencingmassive growth in the recent years due to growing popularity of Internet ofThings and the increasing adoption of smart watches and activity trackers inconsumer markets. Continuous growth in demand for smartphones and otherconnectivity devices and increasing demand for cloud computing is expected todrive the market in near term. Additionally, expansion in use of wirelesssensors and low-power wide-area network is further expected to fuel the marketgrowth. However, lack of communication standard across platforms and high powerconsumption by connected devices is hindering the market growth. Significantgovernment funding across globe for Internet of Things and increasing adoptionof wearable devices in multiple application areas such as healthcare,industrial, and military is expected to create huge opportunities for thecompanies operating in global IoT communication protocol market.

The global IoT communication protocol market is segmented onthe basis of connectivity technology, end-use application and geography. Based onthe connectivity technology, the market is broadly classified into Wi-Fi,Bluetooth, ZigBee, Near Field Communication (NFC), global navigation satellitesystem (GNSS), EnOcean, ANT+, cellular and others. Among these EnOcean, isexpected to show sustainable market growth during the forecast period. Thedevelopment of IoT needed for ultra-low power devices and sensors is expectedto increase need for EnOcean protocol technology. In terms of end-useapplication, the market for IoT communication protocol is segmented intowearable devices, healthcare, automotive and transportation, buildingautomation, industrial, consumer electronics, and precision farming. Amongthese, building automation segment is expected to dominate the market due tohigh demand for energy efficiency and security & safety required inbuildings. Moreover, advancements in the wireless communication technologiesand convergence of IoT and building automation is expected to further increasethe growth of the building automation system market. On the basis of geography,the global IoT communication protocol market is segmented into North America,Europe, Asia Pacific, Latin America, and the Middle East and Africa. Amongthese, Asia Pacific is expected to lead the IoT communication protocol marketduring the forecast period due to huge potential for the applications ofInternet of Things in developing economies such as China and India. Moreover,Middle East & Africa (MEA) and Latin America is expected to tender growthopportunities owing to the increasing in consumer devices market.

Some of the leading companies operating in the global IoTcommunication protocol market with significant developments include Synopsys,Inc., Stmicroelectronics N.V., Mediatek Inc., Gainspan Corporation, Ceva, Inc.,NXP Semiconductors N.V., Texas Instruments Inc., Enocean GmbH, AtmelCorporation and Mindtree Ltd.

The report offers a comprehensive evaluation of the market.It does so via in-depth insights, understanding market evolution by trackinghistorical developments, and analyzing the present scenario and futureprojections based on optimistic and likely scenarios. Each research reportserves as a repository of analysis and information for every facet of themarket, including but not limited to: Regional markets, technologydevelopments, types, applications, and the competitive landscape.