Industrial Strive for Greater Efficiencies Driving Global IIoT Market


Published Date : Jul 17, 2018

ALBANY, New York, July 17, 2018 – The renowned repository of research reports at MarketResearchReports.biz has announced the acquisition and availability of another up to date study on the global market for industrial internet of things (IIoT). The constant focus of a number of industries is to increment their production capacity and the concept of the Internet of Things (IoT) promises to help them identify opportunities. According to the projections of the research report, the demand in the global industrial internet of things will multiply at an exuberant CAGR of 24.3% during the forecast period of 2018 to 2026. By the end of 2026, the report has estimated that the opportunities in this market will be worth US$991,562.0 million.

The report, titled “Industrial Internet of Things (IIoT) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026,” is a comprehensive and figurative assessment of the futuristic opportunities and has been created solely to aid as a reliable business tool for its targeted audiences such as semiconductor component manufacturers and distributors, component providers, industrial automation equipment providers, software application and platform players. Data analytics and cloud computing services, and ODM and OEM technology solution providers.

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The report goes beyond analyzing factors such as drivers, trends, and restraints that will impact the demand inflow in the near future, showcasing lucrativeness of various market segments as well as regions and countries. Compiling it using proven research methodologies, the analyst of this report has included a featured chapter on the vendor landscape of the IIoT market. In this section, top three and top five companies have been identified for their overall and individual shares, recent strategic decisions, and product portfolio.

Some of the key factors augmenting the demand in the global industrial internet of things market are: increasing usage of cloud computing platforms, technological advancements in the industries pertaining to semiconductor and electronics, standardization of IPV6, decreasing cost of automation systems, and consistent support from governments. On the other hand, strong lack of skilled workforce, legacy equipment, lack of standardization, data security and privacy, and the requirement of consistent maintenance and updates are some of the restraints that are obstructing the market from attaining greater profitability. That being said, the concept of predictive maintenance, increasing number of data centers, and innovations in the cross domain applications as well as the development of comprehensive system solutions are expected to open new opportunities.

Based on component, the IIoT market has been segmented into support and maintenance services, consulting services, system integration, connectivity devices, sensors, and hardware. End use industries are healthcare including medical devices, manufacturing, power generation and utility, transportation, oil and gas, aviation, and other such as agriculture and marine.

Schneider Electric SE, Intel Corporation, Tech Mahindra Ltd., IBM Corporation, General Electric Company, ABB Ltd., Siemens AG, Accenture PLC,Emerson Electric,  Softweb Solutions Inc., ZIH Corp., Sasken Technologies Ltd., Robert Bosch GmbH, and NEC Corporation are some of the leading companies operating in the global IIoT market.

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