BANGALORE, India, March 24, 2020 /PRNewswire/ -- The global Industrial IoT (IIoT) Market size is expected to grow from USD 65,452.15 million in 2018 to USD 118,413.63 million by 2025, at a Compound Annual Growth Rate (CAGR) of 8.83% during the forecast period 2025.
The growth of the IIoT industry is driven by factors such as technological developments in semiconductors and electronic devices, increased use of cloud computing systems, standardization of IPv6, and funding for IIoT related R&D activities from governments of different countries.
The Industrial IoT Market is highly competitive and features the presence of a large number of foreign and regional players. The market has witnessed growing rivalry between vendors based on the pricing model, differentiation of technology, brand name, service quality, product differentiation, and technical expertise.
The study highlights the demand estimates, industry dynamics, and micro and macro indicators. Moreover, it talks about the factors that drive and inhibit Industrial IoT Market demand.
TRENDS INFLUENCING THE INDUSTRIAL IoT (IIoT) MARKET SIZE :
Networking technologies, and especially wireless technology, are the backbone of IIoT. These technologies are used to link multiple machines and sensor nodes to the internet to facilitate machine-to-machine communication. These technologies also allow large quantities of data to be gathered for better decision-making. Due to these factors, the network technologies are expected to dominate the Industrial IoT (IIoT) market.
The factors expected to drive the growth of the Industrial IoT market are increasing demand for machine-to-machine systems, the need to contextualize the Process Technology (OT) data, and the preference for predictive maintenance.
The plummeting prices of sensors and data analytics tools enable businesses to embrace IIoT. As such, the growing emphasis on investing in digital literacy rather than technology, and subsequent investment growth in the adoption of advanced analytics software, turns out to be another emerging trend among manufacturing entities.
APAC is expected to hold the largest market share in terms of volume. The Asia Pacific is a major industrial manufacturing center and has become a regional focal point for substantial investment and expansion of the industry. The growing population, rising R&D investments, and the focus of foreign and domestic IT companies on the growth of big data analytics and cloud-based services in the area are expected to drive this growth.
ON THE BASIS OF TECHNOLOGY, THE INDUSTRIAL IOT MARKET IS STUDIED ACROSS
Distributed Control System
Electronic Shelf Label
Flow and Application Control Device
GPS or GNSS Guidance and Steering
ON THE BASIS OF SOFTWARE, THE INDUSTRIAL IOT MARKET IS STUDIED ACROSS
Distribution Management System
Farm Management System
Manufacturing Execution System
Outage Management System
Product Lifecycle Management
Remote Patient Monitoring System
Retail Management Software
Transit Management System
ON THE BASIS OF INDUSTRY, THE INDUSTRIAL IOT MARKET IS STUDIED ACROSS
Chemicals & Materials
Electrical & Electronics
Food & Beverages
Metal & Mining
Oil & Gas
REASONS TO BUY:
Evaluate the qualitative and quantitative aspects of the report and analyze the Industrial IoT Market penetration with respect to industries and geographies.
Evaluates the key vendors and deeply analyzes the competitive landscape, revenue pockets, market trends, growth prospects, pain points, drivers, restraints, challenges and opportunities of the Industrial IoT Market.
CLOUD COMPUTING IN INDUSTRIAL IOT (IIOT) MARKET RESEARCH REPORT
The Global Cloud Computing in Industrial IOT Market size is expected to grow from USD 3,685.06 Million in 2018 to USD 7,373.29 Million by 2025, at a Compound Annual Growth Rate (CAGR) of 10.41% during the forecast period 2025.
The cloud computing Industrial IOT Market is highly competitive and is marked by the presence of large numbers of foreign and regional players on the market. Some of the major players in the industry are IBM, Intel Corporation, Irootech, LosantIOT, Inc., and Microsoft Corporation.
The study offers in-insights into demand estimates, industry dynamics, and micro and macro indicators. Moreover, this report provides insights into the factors that drive and inhibit cloud computing demand in the Industrial IOT Market. In addition, the report highlights and offers an outlook on current industry trends.
INDUSTRIAL IOT (IIOT) PLATFORM MARKET RESEARCH REPORT
The global market size of the Industrial IoT Platform was USD 289 Million in 2019 and is projected to hit USD 688.1 Million by the end of 2026, with a Compound Annual Growth Rate (CAGR) of 13.0 percent during the forecast period 2021 to 2026.
Industrial IoT platform is an IoT division that is used in the field of industrial applications. Industrial IoT platform allows companies to obtain real-time insights into the devices, their safety, and performance. IoT in the manufacturing industries can help achieve maximum resource efficiency without making any extra effort. Because of such advantages, the Industrial IoT platform is expected to grow rapidly in the future.
INDUSTRIAL IOT (IIOT) WIRELESS MODULE MARKET RESEARCH REPORT
The Industrial IoT Wireless Module Market research report has incorporated analyses of various factors that contribute to market growth. The report provides patterns and constraints that either positively or negatively impact the market.
Furthermore, this Industrial IoT Wireless Module market study showcases the assessment of the growth and other aspects of the Industrial IoT Wireless Module market in important regions, including the United States, Canada, Germany, France, the UK, Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc.
INDUSTRIAL IOT (IIOT) CHIPSETS MARKET RESEARCH REPORT
IIoT is allowed by the use of an IIoT semiconductor chipset in machines. The chipset allows the computer to connect to the internet through wired or wireless means.
The industrial IoT chipset market report studies the market size (value and volume) by players, countries, product types and end industries, historical data 2014-2018, and forecast data 2019-2025. Furthermore, this study highlights the global competitive environment, market drivers and patterns, opportunities and threats, risks and barriers to entry, distribution channels, distributors, and Porter's Five Forces Analysis.
INDUSTRIAL IOT (IIOT) GATEWAY MARKET RESEARCH REPORT
Internet of Things (IoT) Gateway offers the means to bridge the gap between field devices (factory floor, house, etc.) that is the cloud where data is captured, processed and exploited by business applications, and consumer equipment (smartphones, tablets, etc.).
The Industrial IoT Gateway Market report studies the market size (value and volume) by players, countries, product types, and end industries, historical data 2014-2018, and forecast data 2019-2025. Additionally, this study analyses the global competitive environment, market drivers and patterns, opportunities and threats, risks and barriers to entry, distribution channels, distributors, and Porter's Five Forces Analysis.
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