Zion Market Research, the market research group announced the analysis report titled 'Industrial Internet of Things (IIoT) Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2018-2026'

Sarasota, FL -- (SBWire) -- 04/20/2018 --Global Industrial Internet of Things Market: Overview

Using the technology Internet of Things in the manufacturing industries is known as Industrial Internet of Things (IIoT). IIoT is also termed as Industrial Internet and consists of big data technology and machine learning. By using IIoT the traditional working machines are being converted into smart machines that will work more efficiently and will deliver improved performance.

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Global Industrial Internet of Things Market: Growth Factors

The major factors that are driving the industrial internet of things market are the evolution of the cloud-based technologies and the technological developments that have been adopted in the semiconductor and the electronics sectors. The IoT has the ability to cut down the overall costs which are the main factor that has increased its adoption in the industrial sector. The other benefits that IIoT has are it helps in improving the process automation, quality of the productivity, and has reduced the time consumption. Owing to these benefits the popularity of the IIoT has increased in the recent years thus propelling the growth of the industrial internet of things market. The technological advancements such as cloud integration, robotics and automation, big data analytics, and other developments have also contributed to the growth of the industrial internet of things market.

Global Industrial Internet of Things Market: Segmentation

The global industrial internet of things market can be segmented on the basis of the device and technology, software, and verticals. In terms of device and technology, the global market can be categorized into RFID, 3D printing, condition monitoring, GPS/GNSS, iBeacons, yield monitors, flow and application control devices, sensors, industrial robotics, distributed control system (DCS), smart meters, autonomous haulage system (AHS), camera systems, guidance and steering, and networking technologies (wired and wireless). Based on the software, the industrial internet of things market can be segregated into manufacturing execution system (MES), outage management system, retail management software, traffic management system, product lifecycle management (PLM) systems, SCADA systems, distribution management system, remote patient monitoring systems, and farm management system. On the basis of vertical, the market can be fragmented into utilities, metals and mining, healthcare, agriculture, manufacturing, oil and gas, retail, and transportation.

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Global Industrial Internet of Things Market: Regional Analysis

It is expected that North America will dominate the industrial internet of things market. The increasing awareness regarding the benefits of the IIoT and the presence of the major market players in the region drives the industrial internet of things market in North America. Europe is also projected to witness a significant market growth owing to the increased adoption of the supporting policies that are set by the European Commission for augmenting the implementation of IoT across various industrial sectors. The industrial internet of things market is anticipated to grow at a rapid rate in the Asia Pacific owing to the growing adoption of the IIoT solutions in the sectors such as mining, transportation, manufacturing, and retail. As Asia Pacific is known for its vast manufacturing hub, there are many untapped opportunities for the industrial players in this region.

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Global Industrial Internet of Things Market: Competitive Players

The key market players that are trending in the global industrial internet of things market are Intel Corporation, General Electric Company, ABB Ltd., Tech Mahindra Ltd., Sasken Technologies Ltd., IBM Corporation, Schneider Electric SE, Emerson Electric, Accenture Plc., and Softweb Solutions Inc., among others.

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