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Research and Markets has announced the addition of the "IoT Market in Russia 2015-2019" report to their offering.
The report forecasts the IoT market in Russia to grow at a CAGR of 28.47% during the period 2014-2019
The report, IoT Market in Russia 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the landscape of the market and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
IoT is a communication of multiple devices over a network that enables data transmission between devices, including thermostats and sensors. It connects hardware, embedded software, communication services, and IT services. It helps in developing smart homes, smart city, and online shopping with the help of connected devices in a network.
The adoption of IoT will improve with the increase in Wi-Fi and LTE wireless connectivity. Networks such as 2G, 3G, and 4G are being provided by service providers in Russia, which has increased the threat to data security. Stringent policies related to network security are being increasingly implemented. IoT security, which is dependent on network security, is expected to gain importance during the forecast period.
M2M and IoT are interconnected and interdependent. In the past three to four years, organizations have started to focus on technologies such as IoT and, additionally, have started investing in wireless, telecom networks, sensors, and its applications.
According to the report, the growing number of connected devices worldwide is a major factor driving the demand for IoT communication. Connected devices include portable devices, media players, and imaging devices with cellular connections.
Further, the report states that lack of standardization involving communication protocols for carrier-level communication, terminal description and service discovery mechanisms, and application data switching mechanisms hampers the advancement of this market.