Global Industrial Internet of Things (IIoT) Market
Global Industrial Internet of Things (IIoT) Market was valued US$ 95.5 Bn in 2017 and expected to reach US$ 180.2 Bn In 2026, at CAGR of 8.26% during forecast period.
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At the same time, lack of compatibility between the many technologies functioning in the IoT environment is limiting the growth of the market. The technology is mainly a union of data processing, industrial equipment, networking infrastructure, sensor technologies, and software solutions for data management and writing, lack of a defined protocol or standardization and use of old equipment. Security-related concerns, associated with big data, Poor internet architecture and lack of skilled labors are also expected to limit market growth.
Due to the introduction of new approaches and technologies, such as smart factories, cyber-physical systems, and intelligent robotics, Germany, UK, France, US, China, and India have taken several initiatives for encouraging manufacturers to increase their investments for the implementation of IIoT solutions. The manufacturing vertical is expected to hold the largest share of the IIoT market in 2020. However, the market for the agriculture vertical is expected to grow at the highest CAGR during the forecast period.
Businesses across the globe are seeking new operating models to create a connected enterprise for merging operational and information departments of the industry. This transformation is predicted to increase the overall productivity, enhance operational efficiency, improve visibility, and reduce the complexities of different processes in the industry.
The IIoT is not just expected to improve operational efficiencies but also to create new economic opportunities and reshape various industries, thus leading to IoT-enabled digital transformation of companies across the several IIoT industries and even to the reforming of countries.
Healthcare industry in the industrial IoT market is expected to grow at a high rate during the forecast period. Solutions can completely change the healthcare industry through remote monitoring of critical patients. Data collected through remote monitoring can be used for providing improved diagnostics and patient care. Availability of healthcare services and treatments can be enabled through intelligent and complete monitoring systems, boosting the industrial IoT market. Several companies have started providing integrated solutions by using Industrial IoT technology in the healthcare industry.
The IIoT market in APAC is expected to grow at the highest CAGR during the forecast period. APAC is a major manufacturing hub, it is also emerging as an important hub for the metals and mining vertical.
Infrastructural and industrial developments in emerging economies such as China and India are contributing to the growth of the IIoT market in this region. However, North America is expected to hold the largest share of the IIoT market in 2018. The IIoT market is booming due to various initiatives were undertaken to encourage its development and implementation by large enterprises and governments in this region. Also, there have been important investments in the R&D of IoT solutions. These factors are contributing to the growth of the market in North America.
ARM, Cisco, GE, Intel, Rockwell Automation, ABB, Texas Instruments, Honeywell, Huawei Technologies, IBM, Kuka, NEC Corporation, Bosch, and PTC., AT&T,, Qualcomm, Accenture, Amazon, Atos, Broadcom, Infosys, Google, Microsoft, National Instruments, Siemens, Tech Mahinda, Tata Consultancy Services, Unisys, Verizon, Zebra Technologies, ZTE, CGI Group Inc., Freescale Semiconductor Inc., GainSpan Corporation, Atmel Corporation, Axeda Corporation, Oracle Corporation, Real Time Innovations, Robert Bosch GmbH, Omron Corporation, Datalogic Holding Inc., Emerson Electric Co., SAP SE, Dassault Systmes.
Scope of Global Industrial Internet of Things (IIoT) Market:
Global Industrial Internet of Things (IIoT) Market by Device & Technology:
- Sensor
- RFID
- Industrial Robotics
- Distributed Control System
- Condition Monitoring
- Smart Meter
- Smart Beacon
- Yield Monitoring
- Electronic Shelf Label
- Camera
- Guidance & Steering
- GPS/GNSS
- Interface Board
- Flow & Application Control Device
- Networking Technology
Global Industrial Internet of Things (IIoT) Market by Software:
- PLM
- MES
- SCADA
- Outage Management System
- Distribution Management System
- Visualization Software
- Transit Management System
- Remote Patient Monitoring
- Farm Management System
Global Industrial Internet of Things (IIoT) Market by Vertical:
- Manufacturing
- Energy
- Oil &Gas
- Metal & Mining
- Healthcare
- Retail
- Transportation
- Agriculture
Global Industrial Internet of Things (IIoT) Market by component:
- Hardware
- Software
- Services
- Connectivity
Global Industrial Internet of Things (IIoT) Market by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East & Africa
Key players operated in Global Industrial Internet of Things (IIoT) Market:
- ARM
- Cisco
- GE
- Intel
- Rockwell Automation
- ABB
- Texas Instruments.
- Honeywell
- Huawei Technologies
- IBM
- Kuka
- NEC Corporation
- Bosch
- PTC.
- AT&T
- Qualcomm
- Accenture
- Amazon
- Atos
- Broadcom
- Infosys
- Microsoft
- National Instruments
- Siemens
- Tech Mahinda
- Tata Consultancy Services
- Unisys
- Verizon
- Zebra Technologies
- ZTE
- CGI Group Inc.
- Freescale Semiconductor Inc.
- GainSpan Corporation
- Atmel Corporation
- Axeda Corporation
- Oracle Corporation
- Real Time Innovations
- Robert Bosch GmbH
- Omron Corporation
- Datalogic Holding Inc.
- Emerson Electric Co.
- SAP SE
- Dassault Systmes
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