Funding for research and development in IoT, favorable initiatives from business of all sizes and governments across the globe are henceforth at the core the growth of the IoT communication protocol market.
Then, the IoT communication market is experiencing
driven-factors such as increasing Internet connectivity worldwide, increasing
demand for the smartphones and other connected devices, higher adoption of
wireless sensors, and mainstreaming of cloud computing.
Research and
Markets reveals that, the IoT communication protocol market, in
terms of value, is expected to grow from USD 11.44 billion in 2015 to USD 15.80
billion by 2022, at a CAGR of 4.7% between 2016 and 2022.
The IoT communication market in consumer electronics segment is expected to
hold significant share owing to the emergence of a number of smart appliances
that can connect to the Internet and smartphones.
Companies including Atmel Corporation, Ceva, Inc., Enocean GmbH, Gainspan
Corporation, Mediatek Inc., and more are taping steadily into this industry.