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Internet of Things (IoT) Market 2019: Global Industry Trends, Growth, Share, Size and 2026 Forecast Research Report


Organizations around the world are increasingly adopting advanced technologies, which is driving the global internet of things (IoT) market. Fortune Business Insights in a report, titled “GLOBAL INTERNET OF THINGS (IOT) MARKET: GLOBAL MARKET ANALYSIS, INSIGHTS AND FORECAST, 2019-2026” states that IoT technology holds significant potential in the ICT sector. As per the report, the global market was valued at US$ 190.0 Bn in the year 2018 and is anticipated to reach US$ 1111.3 Bn by 2026. The analysts in the report predict that the global market will expand at a ferocious CAGR of 24.7% throughout the forecast years.

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Top Key Players Mentioned:

  • Google LLC
  • Intel Corporation
  • Microsoft Corporation
  • Cisco Systems, Inc.,
  • Apple Inc.,
  • Oracle Corporation
  • The Hewlett-Packard Company
  • Facebook, Inc.,
  • Dell Technologies.

BFSI Segment Leads the Market by Covering 21.1% Share

Banking and Financial Institutions (BFSI) accounts for the majority of share in the global IoT market. This segment offers ample growth opportunities as the demand for IoT solutions in the banking sector is increasing rapidly. Customer relationship with banks has transformed over the years with this new ear of connectivity. Adoption of IoT in banking helps to make faster payments and enhances operational efficiency. Not only this, IoT technology allows credit and debit cardholders to easily access banking services. Moreover, several banking firms are planning to use this technology in order to improve the banking experience of their customers by making it more personal. According to the report, in 2019, the BFSI segment holds a share of 21.1% in the global market. With the increasing adoption of cloud computing solutions, the BFSI sector is expected to rise at a substantial share during the forecast period.

Major Table of Content:

  1. Introduction
    • Definition, By Segment
    • Research Approach
    • Sources
  2. Executive Summary
  3. Market Dynamics
    • Drivers, Restraints and Opportunities
    • Emerging Trends
  4. Key Insights
    • Macro and Micro Economic Indicators
    • Industry SWOT Analysis
    • Porter’s Five Forces Analysis
  5. Global Internet of Things (IoT) Market Analysis, Insights and Forecast, 2015-2026
    • Key Findings / Summary
    • Market Size Estimates and Forecasts By Platform (US$ Bn)
      • Device Management
      • Application Management
      • Network Management
    • Market Size Estimates and Forecasts By Software and Services (US$ Bn)
      • Software Solution
        • Real-Time Streaming Analytics
        • Security
        • Data Management
        • Remote Monitoring
        • Network Band Management
      • Services
    • Market Size Estimates and Forecasts By End Use Industry (US$ Bn)
      • BFSI
      • Retail
      • Government
      • Healthcare
      • Manufacturing
      • Transportation
      • IT and Telecom
      • Others

TOC Continued…!

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Growing Demand for Smart Devices in Canada and the U.S. Drives the Market in North America

In 2018, the market in North America covered US$ 83.9 Bn. The region is anticipated to lead the global IoT market through the forecast period. Large-scale adoption of technologies such as Cloud computing and Artificial Intelligence (AI) in this region contributes to the growth of the market. Several mergers and acquisitions (MandA) between leading players and IT companies in North America is another factor driving the market. Apart from North America, other regions such as Asia Pacific and Europe are expected to grow considerably in the forecast years.

Mounting Demand for Real-time Data Offers Fillip to the Market

“IoT technology offers digital transformation to organizations by either upgrading their existing processes or creating a new one,” states a lead analyst at Fortune Business Insights. “Small-scale enterprises are also adopting IoT solutions with an aim to enhance their productivity and cost-efficiency,” he added. IT industry is aggressively adopting cloud-based solutions to gain easy access to enormous amounts of data. This will further provide significant impetus to the market. The demand for real-time data among businesses is increasing at an exponential rate. This, coupled with increasing penetration of automation, is expected to create growth opportunities for the market by 2026. By adopting the internet of things (IoT) solutions, enterprises can gain real-time insights into their business, which can eventually enhance their decision-making processes. IoT offers several software solutions which include security, remote monitoring, network band management, and real-time streaming analytics. Against this backdrop, the demand for IoT applications is likely to increase over the next few years.

Apple, Dell, Cisco are Among the Leading Players in the Market

Key players in the global IoT market are Using IoT platforms such as application management, device management, and network management to sustain the market. Google LLC, Cisco Systems, Inc., The Hewlett-Packard Company, Microsoft Corporation, Dell Technologies, Apple Inc., Oracle Corporation, Facebook, Inc., and Intel Corporation are some of the leading companies in the global market. These companies are increasingly using cloud-computing networks across several platforms. Some companies are likely to invest in research and development (RandD) activities in order to develop innovative IoT solutions. Such activities are expected to help companies gain an edge over the competition.

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FaceCake Showcases Live Demo of Its AI-Driven AR Shopping Platform at KeyBanc Capital Markets Future of Technology Series


FaceCake’s CEO Linda Smith was a featured industry leader demonstrating real solutions to retail’s online and in-store challenges today

LOS ANGELES, Oct. 21, 2020 /PRNewswire/ — FaceCake presented its Artificial Intelligence ("AI")-Driven Augmented Reality ("AR") Shopping Platform at the Future of Technology Series hosted by KeyBanc Capital Markets on September 15, 2020. A virtual gathering of today’s most transformative technology companies, the series provided a vision of modern retail commerce from renowned industry leaders. Featuring both private and public companies, the series showcased FaceCake’s capabilities and the breadth of its industry-leading AI / AR platform built exclusively for shopping.

FaceCake presented an omni-channel consumer shopping journey that demonstrated the ability to virtually Try-On different types of products live as though looking in a mirror for highly realistic AR virtual shopping, including jewelry, apparel, accessories, makeup, and home décor. FaceCake highlighted key patented aspects of its platform including Visual Search, AI-driven recommendations, AR advertisements, and MarTech.

FaceCake’s visionary Founder and CEO Linda Smith’s presentation was a conference highlight. She addressed key business topics driving online conversion, such as personalized consumer interaction, omni-channel connectivity, data-driven shopping intelligence, and online retail engagement.

"We are honored to have been invited to present at the Future of Technology Series, particularly when contactless shopping is on everyone’s mind," said Linda Smith. "We were happy to demonstrate our robust platform, unique in its ability to offer touchless AR Try-On and recommendations in multiple product categories, whether online, in-store, or via mobile. Broad accessibility, quality, and celebrating shopper individuality on a mass scale have been the cornerstones of our company’s focus to make shopping easier and more personalized."

To watch FaceCake’s KeyBanc demonstration, click here.

To see more of FaceCake’s presentation or for more information, click here.

About FaceCake

FaceCake, creator of the Swivel® Virtual Dressing Room, CAKE AR™, and Scout Visual Search, is a leader in augmented retail with its patented AI-Driven AR shopping platform. FaceCake’s innovations in Augmented Reality and Artificial Intelligence allow consumers to virtually try products on their own images live, while instantly providing relevant product recommendations for superior personalization. FaceCake has the only AI/AR offering across multiple shopping categories, and its platform is cross-device compatible, making it accessible from anywhere at anytime. The privately held company is based in Calabasas, CA.

About the Future of Technology Series

This inaugural seven-week virtual series centered on timely and unique content across the Technology landscape. Leaders from today’s most relevant technology names gathered to take a thematic approach toward exploring market shifts, particularly in light of an increase in digital acceleration, remote work, deglobalization and changing consumer consumption habits. Attendees included more than 900 investors, 164 private and public companies, with 115 fireside chats and panels, and more than 700 one-on-one meetings.

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Daszyńska-Muzyczka, BGK: The European Three Seas region is one of the fastest growing in the world


WARSAW, Poland, Oct. 21, 2020 /PRNewswire/ — The Three Seas region is one of the fastest growing in the world and the Three Seas Initiative Investment Fund (3SIIF) is its investment vehicle for financing long-term infrastructure projects – Beata Daszyńska-Muzyczka, chairperson of the Supervisory Board of the 3SIIF and president of the Polish Development Bank BGK said during the Three Seas Summit in Tallinn (Estonia).

"We set a clear goal for the Fund – developing cross-border infrastructure investments in the region. The infrastructure gap in order to match the quality of Western European infrastructure is almost EUR 600 bn. The Fund targets three main sectors – energy, transport and digital infrastructure. Improving connections between our 11 countries are key to building economic growth" – said Daszyńska-Muzyczka.

In order to achieve the ambitious goals, BGK in cooperation with all development banks in the region initiated an international investment fund – the Three Seas Initiative Investment Fund. "Thanks to great collaboration and relationships with banks and promotional institutions in the region we built the basis for the Fund – its legal framework and strategy" – added Daszyńska-Muzyczka. Alongside local governments as cornerstone investors, the Fund aims to stimulate private capital to the region, on a commercial basis.

The founding act of the Fund was signed in May 2019 under Luxembourg law by the Polish Development Bank BGK and the Romanian EximBank. In 2020 they were joined by the Estonian government and the Latvian development institution Altum. The Fund is now fully operational with an independent investment committee.

The core sponsors analysed the market and chose professional infrastructure investment advisor with proven track record – Amber Infrastructure Group. Amber is responsible for project management, fundraising and origination for the Fund.

 "We are extremely pleased that at the Tallinn Summit additional commitments to the Fund were announced by Hungary, Slovenia, Bulgaria, Lithuania, Croatia, the US International Development Finance Corporation and the Fund’s Investment Adviser, Amber Infrastructure Group.  Poland, through BGK, was also delighted to announce it had increased its investment in the Fund.  The Fund is open to international financial institutions, as well as private institutional investors globally. This is a commercial and market driven initiative" – said Daszyńska-Muzyczka.

More information can be found at

Contact BGK:

Anna Czyż, [email protected], phone number +48 609 220 208

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‘AIZEN’ AI banking-as-a-Service, Empowering data platform to launch lending services


SINGAPORE, Oct. 20, 2020 /PRNewswire/ — The financial services industry has seen drastic technology-led changes over the past few years. While some of the big tech giants have launched their own Fintech verticals, there are many brands that are also increasingly looking to offer financial services to their customers. These companies tend to partner with existing financial institutions and resell their financial products, but many fails to offer a seamless onboarding experience mainly due to partner banks’ legacy processes. 

Embedded Finance, as opposed to reselling financial products, is becoming more attractive to brands. It enables any non-financial companies to integrate innovative financial services into their offerings. This creates new revenue opportunities at low marginal costs for the brands that already have a large customer base and enables new customer experiences that drive loyalty and purchases.

Embedded finance- AIZEN's AI banking-as-a-Service
Embedded finance- AIZEN’s AI banking-as-a-Service

AIZEN, a leading provider of banking-as-a-service platform, has partnered with companies in Southeast Asia including leading e-commerce in Indonesia and e-wallet platform in Vietnam to provide an Automated Banking Operating System (ABOS) focusing on lending. The company is working with Balance Sheet providers (both banks and non-banking entities) and will act as an intermediary for all other processes related to the end-to-end credit lifecycle. ABOS is built on a robust risk management framework that automates the core operations from product design, credit acquisition, portfolio management and collection, and allows banks and brands to take proactive measures on the economic downside risks amid COVID-19.

According to the latest report by Google, Temasek and Bain & Company, digital financial services in Southeast Asia is expected to generate revenues of about USD 38 billion by 2025. Digital lending has also gained momentum as we enter the "contactless economy" after COVID crisis, and it will offer the majority of revenue opportunities. 

AIZEN has recently raised from a government-led fintech innovation fund (KGIC, also known as K-Growth) led by major banks including KB, Shinhan, Woori and NH, which brings the company’s total funding to USD 10 million including USD 3.5 million in R&D grants. The company plans to roll out Banking-as-a-Service (BaaS) primarily targeting the underserved markets in Vietnam, Indonesia, Singapore, and Taiwan.

For traditional lenders, the absence of credit history has meant a limited risk appetite for lending to this segment. Using proprietary AI technologies, AIZEN is able to better underwrite customers by converting non-traditional sources of data into credit-related data in Finance. This is powered by ABACUS, an AutoML platform in finance that is specifically designed to accommodate the fast-changing customer dynamics in real-time. 

Founded in 2016, AIZEN has been working on digital transformation projects with financial institutions including loan underwriting, transaction fraud detection, and insurance claim analysis. The company has joined Plug and Play APAC Fintech Batch in Singapore and has been named by Gartner as a Cool Vendor in AI for Fintech for high scalability and easiness of adoption. AIZEN is also a member of Intel’s AI Builders Program and is optimizing the solution with access to Intel’s latest technology and engineering expertise. "We will strategically expand our banking service with our AI operating model and will service our new AI-powered banking model in Vietnam, Indonesia, Singapore, and Taiwan," said Jung Seok Kang, CEO at AIZEN.

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