According to a new report published by Reports Monitor titled, “Global Industrial Internet of Things (IIoT) Market, Growth Opportunities, Innovations and Forecast, 2017-2025,” the industrial internet of things market was valued at XX million in 2016, and is projected to reach at XX million by 2016, growing at a CAGR of XX% from 2017 to 2025.
The Industrial Internet of Things (IIoT) is part of a larger concept known as the Internet of Things (IoT). The IoT is a network of intelligent computers, devices, and objects that collect and share huge amounts of data. The application of the IoT which are implemented in the manufacturing industry can be denoted as IIoT.
The IIoT is revolutionary step in manufacturing by enabling the acquisition and accessibility of far greater amounts of data, at far greater speeds, and far more efficiently than before. The major drivers of IIoT are improvement in efficiency, connectivity, time savings, scalability, and cost savings for industrial organizations. The major benefits any industries can acquire from the IIoT is through cost savings due to its predictive maintenance, improved safety, and other operational efficiencies. IIoT networks allows industrial organizations to monitor and analyze the data and connect all of their employees, labors, data, and activity from the industrial floor to the executive offices. IIoT data can be used by the business leaders to get the accurate view of how their organization is working, which helps them to forecast and make better decisions. Organizations that have hold the IIoT have seen notable improvements to safety, efficiency, and profitability. However, the ability of a computer systems or software to exchange and make use of information and security are the biggest challenges which acts as a restraints surrounding the implementation of IIoT. Further, it is can be seen that IIoT is widely considered to be one of the primary trends that will affect the industrial businesses today and in the coming years. With the change and advancement in time and technology many industries are urging to modernize systems and equipment so as to meet the new regulations, keep up with changing market scenarios, volatility, and to deal with disruptive technologies.
This report provides a detailed analysis of Industrial Internet of Things (IIoT) market, which includes current industry situations such as market size, growth and demands, market outlook, major players with their key strategies such as investment, mergers and acquisitions, value chain analysis and swot analysis. It covers the market canvas and the growth opportunities in the coming years. The report has been made with an in-depth analysis along with important inputs from the various industry experts. The research is carried out with both extensive primary and secondary data sources with bottom-up and top-down approaches.
The global Industrial Internet of Things (IIoT) market can be segmented on the basis of software, component and verticals. Based on software the global Industrial Internet of Things (IIoT) market is classified into manufacturing execution system (MES), product lifecycle management (PLM) systems, distribution management system, SCADA systems and others. Based on components the global Industrial Internet of Things (IIoT) market is classified into industrial robotics, sensors, camera systems, distributed control system (DCS), condition monitoring, smart meters and others. Based on verticals the global Industrial Internet of Things (IIoT) market is classified into oil & gas, metals & mining, retail, manufacturing, utilities, healthcare, transportation & logistics and others.
Based on the geographical regions covered, the IIoT market is analysed across: North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa).
The major players providing the IIoT manufacturing services and solutions are ARM Ltd. (U.K.), Cisco Systems, Inc. (U.S.), General Electric (U.S.) Intel Corporation (U.S.), Rockwell Automation, Inc. (U.S.), ABB(Switzerland), Texas Instruments Incorporated (U.S.), Dassault Systèmes (France), Honeywell International Inc. (U.S.), Huawei Technologies Co., Ltd. (China), IBM Corporation (U.S.), Kuka AG (Germany), NEC Corporation (Japan), Robert Bosch GmbH (Germany), Siemens AG (Germany), and ZIH Corp. (U.S.)
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