Qualitative report on Industrial Internet of Things Market CAGR average of +10% Industry 2019 Business Overview, Forecast to 2026 and key profile : ARM , Cisco , GE , Intel , Rockwell Automation , ABB , Texas Instruments (US), Dassault Systèmes (France), Honeywell (US), Huawei Technologies (China), IBM (US), Kuka (Germany), NEC Corporation (Japan), Bosch (Germany), Siemens AG (Germany), and PTC (US).
Pune, India -- (SBWIRE) -- 03/12/2019 -- The market is estimated at $ 59.54 billion in 2019 and is expected to reach $ 91.4 billion by 2026, with an average annual average of +10% the forecast period. Key drivers for the growth of the IIoT market include technological advances in semiconductors and electronics, availability of automation solutions, improved data rates and coverage of communications technologies. Increased use of cloud computing platform; IPv6 adoption is increasing. Worldwide government support for the adoption of IIoT solutions.
The IIoT market ecosystem comprises players such as ARM (UK), Cisco (US), GE (US), Intel (US), Rockwell Automation (US), ABB (Switzerland), Texas Instruments (US), Dassault Systèmes (France), Honeywell (US), Huawei Technologies (China), IBM (US), Kuka (Germany), NEC Corporation (Japan), Bosch (Germany), Siemens AG (Germany), and PTC (US).
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- By Software:
o Outage Management System
o Distribution Management System
o Visualization Software
o Transit Management System
o Remote Patient Monitoring
o Farm Management System
- By Vertical:
o Oil &Gas
o Metal & Mining
APAC's IIoT market is expected to grow to the highest CAGR during the forecast period. APAC is a major manufacturing hub. It is also emerging as an important hub for metal and mining verticals. Infrastructure 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 account for the largest market share in the IIoT market in 2018. The IIoT market is flourishing due to various initiatives undertaken to encourage the development and implementation of large enterprises and governments in the region.
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IIoT helps to improve visibility, operational efficiency, increases productivity, and reduces complexity in the process. Large collected data helps in predictive maintenance which can generate savings over scheduled repairs leading to reduction in maintenance costs and reduce downtime from equipment breakdowns. In the current scenario, many companies are assessing their current data systems and observing ways to transform their business processes through Big Data analytics. Rising adoption of IIoT by the transportation sector is driving.
The emerging trend among companies is to use the right security tools to collect data and deploy cloud-based solutions. Suppliers are also adopting current technologies to develop advanced solutions and devices to improve the operational efficiency of their industries. The development of low-power hardware devices, big data analysis, robots and automation, cloud integration and smart sensors also support the growth of the IIoT market. Geographically, North America is expected to occupy a major market share following IIoT, Europe and Asia Pacific. Europe is also expected to grow rapidly during the forecast period due to the efforts of local governments for Industry 4.0 (fourth industrial evolution.
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Table of Contents
Global Industrial Internet of Things Market Research Report
Chapter 1 Global Market Competition by Manufacturers
Chapter 2 Global Economic Impact on Industry
Chapter 3 Industrial Internet of Things Market Overview
Chapter 4 Global Production, Revenue (Value) by Region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions