43 Percent CAGR Expected for IoT Devices Market From 2015-2019: Report

43 Percent CAGR Expected for IoT Devices Market From 2015-2019: ReportAnother voice has joined the chorus predicting major growth in the Internet of Things. A new report from Infiniti Research suggests that the IoT devices market will see a growth rate of 43 percent (CAGR) between 2015 and 2019.

While a report synopsis acknowledges that the IoT devices market is “still in its nascent stage,” it nevertheless expects “high growth” during the forecast period. In large part, this growth is expected to be led by the smart home, a concept that is thought to be growing increasingly popular among consumers. Moreover, the smart home comprises a range of devices including appliances, consumer electronics, and TV, so growth in this area will benefit a number of vendors.

In its report, Infiniti highlights smart lighting as a particularly strong element of the smart home concept, accounting for 45 percent of market share by the end of the forecast period. But technologies and devices helping to facilitate the interconnectivity of various smart home components, and indeed the user interfaces themselves, are sure to benefit too, with products like Amazon Echo offering users voice control over lighting and other smart home systems, and even future iPhones playing a potentially big role. Biometric security technologies may also prove important, given the need to secure user data as it is transmitted in such volumes between various devices.