Market Study Report, LLC, has developed a concise study on the Industrial IoT (IIoT) market to depict valuable insights related to significant market trends driving the industry. The report features analysis based on key opportunities and challenges confronted by market leaders while highlighting their competitive setting and corporate strategies for the estimated timeline.
Some of the major players operating in the Industrial IoT include Corning Incorporated, ABB Ltd., Cisco Systems, Inc., General Electric Company, Siemens AG, Rockwell Automation, Inc., IBM Corporation, Microsoft Corporation, ARM Ltd., Intel Corporation, and Kuka AG among others.
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According to a new study published by Polaris Market, the global Industrial Internet of Things (IIoT) market is anticipated to reach USD 771.72 billion by 2026. Industries worldwide are looking for new business models to construct a connected enterprise for merging their operational and information departments. This transformation is expected to enhance the overall productivity, operational efficiency, and visibility as well as decrease the complexities of diverse procedures in the industry. The capability of IIoT to decrease costs is the major factor responsible for its high adoption by the industries. Other factors include increased productivity, time-to-market, and process automation. Moreover, decreasing sensors prices has also helped in the reduction of overall costs related to data collection and analytics.
The market in the Asia Pacific region is projected to grow at the fastest CAGR owing to considerable adoption of IIoT in the countries such as Japan, Taiwan and China. Manufacturing companies across these countries are recognizing the advantages offered by the implementation of IIoT in their production line. China is the dominating country in the Asia Pacific market due to the presence of several manufacturing companies in the region and high adoption of automation technologies.
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The role of IIoT is becoming more prominent in allowing easy access to machines and devices. The adoption of IIoT is further anticipated to escalate globally attributed to increasing innovative efforts by major players such as GE, Cisco and Huawei, as well as increasing initiatives sponsored by governments. For instance, the government of Germany is sponsoring a multi-year strategic initiative ‘Industrie 4.0’, focused on uniting the major participants from public and private sectors along with academia for the creation of an action plan and a broad vision to implement digital technologies in the country’s industrial sector. Furthermore, “Made in China 2025” initiative of the Chinese government is helping the promotion and integration of digital technologies in the industrial sector of China.
Industrial IoT (IIoT) Market share by Major regions included:
Middle East & Africa
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Table of Contents
1.Overview and Scope
1.1.Research goal & scope
1.3.1.Primary data sources
1.3.2.Secondary data sources
3.Industrial IoT Market Insights
3.1.Industrial IoT – Industry snapshot
3.2.Industrial IoT – Ecosystem analysis
3.3.Industrial IoT market dynamics
3.3.1.Industrial IoT – Market Forces
184.108.40.206.Industrial IoT Market driver analysis
220.127.116.11.Industrial IoT Market restraint/challenges analysis
18.104.22.168.Industrial IoT Market opportunity analysis
3.3.2.Industry analysis – Porter’s five force
22.214.171.124.Bargaining power of supplier
126.96.36.199.Bargaining power of buyer
188.8.131.52.Threat of substitute
184.108.40.206.Threat of new entrant
220.127.116.11.Degree of competition
3.3.3.Industrial IoT market PEST analysis, 2017
3.3.4.Value Chain Analysis
3.3.5.Industrial IoT Industry trends
3.3.6.Competitive Ranking Analysis
4.Industrial IoT Market Size and Forecast by Technology & Solutions
4.2.Technology & Solutions
4.2.1.Global market estimates and forecasts, 2017 – 2026
18.104.22.168.Global market estimates and forecasts, 2017 – 2026
22.214.171.124.Global market estimates and forecasts, 2017 – 2026
126.96.36.199.Global market estimates and forecasts, 2017 – 2026
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