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Industrial Internet of Things (IIoT) Market - Formation of Industrial Internet Consortium (IIC) by Top Key Players Would Accelerate the Development and Adoption Rate

Industrial Internet of Things (IIoT) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2023


Albany, NY -- (SBWIRE) -- 03/07/2017 -- The report on industrial Internet of Things (IIoT) opens a discussion about the various factors determining the progress of the global market. The research report, titled "Industrial Internet of Things (IIoT) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2023," has been compiled using primary and secondary research methodologies to offer readers a detailed understanding of the trajectory of the global market. The publication includes interviews, recommendations, and valuable comments of market leaders. Additionally, the report also includes a SWOT analysis that presents an explanation of the strengths, weaknesses, opportunities, and threats faced by the various segments of the IIoT market.

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The ability of IIoT systems to analyze data and offer solutions to improve productivity has won heart of consumers across various industrial verticals. Today, they are being used for industrial as well as for personal usages. The remarkable developments in the cloud technology has propelled the global market in recent years. Integration of cloud solutions has enabled better accessibility, affordability, and unlimited storage for end users. The global IIoT market has also received a push with initiatives such as Industrial Internet Consortium (IIC) established by companies such as AT&T Inc., Cisco Systems Inc., Intel Corporation, General Electric Company, and International Business Machine (IBM) Corporation.

Analysts anticipate that the increasing availability of low-priced and exceptionally efficient sensors will also contribute to the growth of the global market. Furthermore, the lack of margin for error in industries such as defense, aerospace, healthcare, energy, transportation, and manufacturing is projected to boost the adoption of IIoT systems. The phenomenal innovation in big data analytics is also expected to create several lucrative opportunities for the overall market in the near future.

Geographically, the global IIoT market is segmented into North America, Asia Pacific, Latin America, the Middle East and Africa, and Europe. Of these, North America is expected to dominate the overall market in the coming years due to high awareness about technological innovations in the region. Analysts expect that Asia Pacific will also show a steady growth in the market due to the growth of the manufacturing and healthcare industry.

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Some of the leading players operating in the global industrial internet Schneider Electric SE, General Electric Company, Intel Corporation, Cisco Systems Inc., International Business Machine (IBM) Corporation, Huawei Technology Co. Ltd., AT&T Inc., Siemens AG, Robert Bosch GmbH, Rockwell Automation Inc., and Accenture PLC. The research report provides a fair assessment of these market players and elaborates on their business and marketing strategy for the coming few years. Additionally, the publication also provides an explanation about the threat from substitutes and new entrants with the help of a Porter's five forces analysis. The research report has been aimed at giving the readers a comprehensive overview of the global market in a detailed manner.