Industrial IoT is the combination of compound physical equipment with data analytics solutions and industrial networks it generally improves working efficiency and reducing costs. Data and intelligent machines are expected to be revolutionized due to the Industrial IoT technology thus having a positive impact on operations, productivity, as well as efficiency. Also, industrial IoT technology will allow companies to improve their revenues by improving and expanding manufacturing processes through forming new hybrid business models and exploiting intelligent technologies to transform their workforce and fuel innovations. Additionally, industrial mainly comprises innovative data analytics, machine-to-machine communication, machine learning algorithms, and sensor technologies to advance the companies executive abilities. Apart from that, industrial IoT network helps organizations to connect with their workers, improves worker safety, data, and enhances productivity. Development of industrial internet has allowed IT sector to further improve digitized systems. Industrial IoT applications are utilized in available data, cloud services, and business analytics to increase industrial processes.
Global Industrial IoT Market: Key Players
The research study includes profiles of leading companies operating in the global industrial IoT market. Key players profiled in the report include: 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.
Drivers for the Global Industrial IoT Market:
According to current market condition, increasing adoption of industrial IoT across the globe, owing to rising affordability and availability of sensors, technologies, processors, etc. result in access to real-time information. This is a key factor expected to drive growth of the global market over the forecast period. In addition, increasing need to improve operational efficiency coupled with strong alliance between players operating in the target market is another factor expected to fuel growth of the target market. Moreover, growing cloud integration, big data analytics, smart sensors, and robotics and automation are other factors further expected to support growth of the global market over the forecast period.
Opportunities for the Global Industrial IoT Market:
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.
Restrains for the Global Industrial IoT Market:
However, lack of defined standardization and utilization of old equipment are major factors expected to restrain growth of the global market over the forecast period. In addition, rising security concerns among individuals is another factor expected to hamper growth of the target market in the near future.
Region Wise, Global Industrial IoT Market Analysis:
On the basis of region, global industrial IoT market include North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The market in North America dominates the target market in terms of revenue over the forecast period, owing to increasing awareness regarding benefits of using industrial IoT, AI, and technological advancements in the various countries in the region. North America region is followed by Asia pacific and Europe.
Global Industrial IoT Market: Product analysis
- Software and Services
Global Industrial IoT Market: Application analysis
- Energy & Power
- Logistics & Transport
Global Industrial IoT Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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