NEW YORK, Feb. 2, 2016 /PRNewswire/ -- The Industrial Internet of Things (IIoT) market is expected to grow at a CAGR of 8.03% between 2015 and 2020. A key influencing factor for the growth of the IIoT market is the need to implement predictive maintenance techniques in industrial equipment to monitor their health and avoid unscheduled downtimes in the production cycle. Besides, several other factors such as the need to improve operational efficiency in the production process, enhance worker and plant safety, and reduce energy consumption are the other factors that are encouraging the adoption of IIoT solutions across various sectors.
"The healthcare sector is projected to grow rapidly in the near future"
The IIOT market in the healthcare sector is expected to grow at the highest CAGR during the forecast period. This sector is expected to have unique opportunities for the implementation of IIoT solutions for improving patient care and diagnostics through telehealth and remote patient monitoring.
"APAC is the fastest-growing market for IIoT"
The market in APAC is expected to grow at a high CAGR between 2015 and 2020. The growth is attributed to the increased adoption of automation technologies in the manufacturing and mining sectors, advancements in healthcare facilities in the region, and deployment of smart grid solutions in China.
Break-up of profiles of primary participants for the report is given below:
- By Company Type: Tier 1 – 29%, Tier 2 – 38%, and Tier 3 – 33%
- By Designation: C-level –23%, Director level – 15%, VP level – 62%
- By Region: North America - 44%, Europe – 28%, APAC – 23%, RoW – 5%
The key players in the market include General Electric (U.S.), Cisco Inc. (U.S.), Intel Corporation (U.S.), Rockwell Automation (U.S.), ARM Holdings plc. (U.K.), ABB Ltd. (Switzerland), Siemens AG (Germany), Honeywell International Inc. (U.S.), Dassault Systèmes SA (France), Huawei Technology Co., Ltd. (China), Zebra Technologies (U.S.), IBM Corporation (U.S.), and Robert Bosch GmbH (Germany) among others.
Reasons to buy the report:
- This report includes the market statistics pertaining to industry vertical, technology, software, and region.
- The Porter's five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the IIoT market.
- Major drivers, restraints, opportunities, and challenges for the IIoT market have been detailed in this report.
- Illustrative segmentation, analysis, and forecast have been conducted for the markets based on the industry vertical, technology, software, and geography to give an overall view of the IIoT market.
- The detailed competitive landscape includes key players, in-depth analysis, and revenue of key players.
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