Military IoT Market Research Report 2019: Industry Size, Share, Trends, Growth and Opportunity Assessment, Regional Analysis and Segmentation By Component (Hardware, Software), by Technology (Wi-Fi, Cellular, Satellite Communication), by Application (Training & Simulation, Health Monitoring), and by Region — Global Forecast till 2023
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Military IoT offers enhanced safety and security to defense personnel by offering them real-time information. Military IoT makes use of connectivity technology such as GPS and satellites to provide real-time reporting to army personnel and enhance command and control of a military unit. Growing demand for enhanced situational awareness and growth in information, communication, and technology (ICT) are driving the market growth.
The key players in the global military IoT market are Honeywell International, Inc. (US), Northrop Grumman Corporation (US), AeroVironment, Inc. (US), FreeWave Technologies, Inc. (US), AT&T Inc. (US), General Atomics (US), FLIR Systems, Inc. (US), Textron Systems (US), Reliance Industries Limited (India), IBM Corporation (US), Bombardier (Canada), SAP SE (Germany), Forescout Technologies Inc. (US), and General Electric (US).
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The global military IoT market has been segmented based on component, technology, application, and region. On the basis of component, the market is divided into hardware, software, and services. In 2017, the hardware segment dominated the global market. However, the software segment is anticipated to grow at the highest CAGR over the forecast period. Benefits offered by software such as enhanced communication, equipment maintenance data, and real-time information are propelling the segment growth.
On the basis of technology, the market is segmented into Wi-Fi, cellular, RFID, and others. The Wi-Fi segment dominated the global market in 2017 and is anticipated to grow at the highest CAGR over the forecast period. Factors such as the easy installation of the device and enhanced connectivity offered by Wi-Fi are expected to bolster the segment growth.
On the basis of application, the market is segmented into training & simulation, health monitoring, Real Time Fleet Management (RTFM), inventory management, equipment maintenance, and others. The RTFM segment dominated the global market in 2017; however, the training & simulation segment is expected to grow at the highest CAGR over the forecast period. Growing adoption of virtual training to offer enhanced safety to trainees and cost-effectiveness offered by military IoT is driving the segment growth.
On the basis of region, the global Military IoT Market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2017, North America dominated the global market owing to technologically advanced infrastructure and presence of prominent technology companies such as Honeywell International, Inc. However, Asia Pacific is expected to grow at the fastest CAGR over the forecast period. Factors such as increasing defense budget of developing economies such as India, and China. Additionally, increasing defense technology startups in countries such as India are propelling the market in tr region. For example, CRON Systems Pvt. Ltd. a defense startup company developed intrusion detection systems that utilize IoT to offer real-time data to army personnel. Therefore, the market is expected to propel in the Asia-Pacific region.
Intended Audience
• IoT device manufacturers
• Defense authorities
• Defense companies
• Research Institutes
• Regulatory bodies
Research Methodology
The market numbers and forecast derived were the outcomes of our disciplined research methodology that includes secondary research, primary interviews, followed by data triangulation and validation from our in-house data repository and statistical modeling tools.
Secondary Research
In this process, the data collection was done through various secondary sources, which included annual reports, SEC filings, journals, government association, aerospace & defense magazines, white papers, corporate presentations, company websites, some paid databases, and others.
Primary Research
In this process, both the demand side and supply side parties were involved in extracting genuine facts and insights about the market forecast, production, trend, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain have been approached to obtain key information.
Report Key Insights
• Market Sizing, Forecast, and Analysis: Detailed coverage on market segment and its sub-segments
• Regional / Country Trend and Forecast: Detailed analysis on North America, Asia-Pacific, Europe, Middle East & Africa, and Latin America, along with key countries in each of the regions
• Market dynamics intelligence: Market drivers, opportunities, trends, restraints, Porter’s five forces, supply chain & value chain analysis
• Technology Trend, Regulatory Landscape, and Patent Analysis Outlook
• Competitive Intelligence: Market share analysis, financial analysis, product benchmarking, strategic developments including JVs, Product Launch, and M&A
• Regional attractiveness and related growth opportunities
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List of Tables
Table 1 Global Military Iot Market, by Region, 2018–2023
Table 2 North America: Military Iot Market, by Country, 2018–2023
Table 3 Europe: Military Iot Market, by Country, 2018–2023
Table 4 Asia-pacific: Military Iot Market, by Country, 2018–2023
Table 5 Latin America: Military Iot Market, by Country, 2018–2023
Table 6 Middle East & Africa: Military Iot Market, by Country, 2018–2023
Table 7 Global Military Iot, Component Market, by Region, 2018–2023
Table 8 North America: Military Iot, Component Market, by Country, 2018–2023
Table 9 Europe: Military Iot, Component Market, by Country, 2018–2023
Table 10 Asia-pacific: Military Iot, Component Market, by Country, 2018–2023
Continued......
List of Figures
Figure 1 Research Process of Mrfr
Figure 2 Top-down & Bottom-up Approaches
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter's Five Forces Analysis
Figure 7 Value Chain Analysis
Figure 8 Global Military Iot Market Share, by Component, 2017 (%)
Figure 9 Global Military Iot Market, by Component, 2018–2023 (Usd Million)
Figure 10 Global Military Iot Market Share, by Technology, 2017 (%)
Continued......
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