Market Highlights:
Industrial IoT platform is a division of IoT which is used in industrial application area’s and allows the organizations to get real time insights about the machines, their health and their efficiency. As IOT is growing, their applications areas are increasing at much faster pace. IoT in manufacturing industries will help to gain the optimum utilization of resources without making any extra efforts. Connected devices and machineries will be transmitting real-time data to server which will be very helpful in their smart management. Factors such as high efficiency, low breakdown of machineries and high efficiency are some of the major factor which are directly associated with the industrial IoT whereas government rules regarding the use of automation in the industrial process, technological advancement, increasing demand for industrial process are also some of the indirect factors which is helping into the market growth.
Industrial IoT market has seen tremendous opportunities in future, high demand and low supply, growing IT and Semiconductor industry, high demand for consumer electronics devices will lead to the high adoption of industrial IoT to meet demand. Whereas factors such as price and need of technical knowledge will likely to hamper the market growth during forecast period.
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Major Key Players
- Microsoft Inc. (U.S.)
- NEC Corporation (Japan)
- PTC (U.S.)
- International Business Machines Corporation (U.S.)
- General Electric Corporation (U.S.)
- Fujitsu (Japan)
- Siemens AG (Germany)
- SAP SE (Germany)
- Hitachi Insight Group (U.S.)
- Huawei Technologies Co. Ltd. (China)
According to MRFR, The global of Industrial IoT Platform Market is expected to grow at USD ~650 million by end of forecast period with compound annual growth rate of 23% from 2016 to 2022.
Segmentation:
The Industrial IoT Platform market has been segmented on the basis of-
By Component- Hardware (Sensors, Cameras, Processing Units among others) and Software.
By Application- Asset Management, Remote Monitoring, Network System Management among others.
By Verticals- Manufacturing, Power and Utilities, Aviation, Oil and Gas among others.
By Region- North America, Europe, Asia-Pacific and Rest of the World.
Regional Analysis:
By region, the market is segmented into North America, Europe, Asia Pacific (APAC) and the Rest of the World.
Among all regions, APAC is projected to dominate the global market. Primary reasons being the high population and high consumption of electronic devices in the nations. In the region, China is one of the biggest manufacturing driven economy. Flourishing consumer electronic industry and high supply has resulted in high adoption of industrial IoT platform, on the other hand, thriving automotive industry in South Korea and Japan has ably supported the market growth in the region.
North America, on the other hand, has captured the second biggest market globally on account of massive investments in technology startups. North America is one of the most developed nations in possession of advanced technologies, which are not available in several other countries. Strong defense sector and manufacturing industry has led to the magnificent growth of North America industrial IoT platform market.
The Europe region is predicted to note a healthy growth rate throughout the forecast period, primarily due to the growing adoption of automation in the manufacturing industry. Towering prerequisite for automation across different businesses is envisaged to augment the market in the region. There has been an expanding necessity for enhanced effectiveness in a vast range of industrial processes which, accordingly, is fueling the demand for automation in nations such as the United Kingdom (UK) and Germany. These factors are responsible for the market development in the region of Europe.
The market in the Middle East and Africa (MEA) is expected to grow slowly, because of low expenses and prominent dexterity offered by the IoT solutions, the increase in mobile and wireless penetration, and also development in infrastructures.
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Intended Audience:
- Software Development companies
- Application development companies
- Companies dealing with IOT
- Sensor Manufacturers
- Electronic Manufacturing Companies and Suppliers
- Research Institutions
- Government
LIST OF TABLES
TABLE 1 GLOBAL INDUSTRIAL IOT PLATFORM MARKET, BY COMPONENT
TABLE 2 GLOBAL INDUSTRIAL IOT PLATFORM MARKET, BY APPLICATION
TABLE 3 GLOBAL INDUSTRIAL IOT PLATFORM MARKET, BY VERTICALS
TABLE 4 GLOBAL INDUSTRIAL IOT PLATFORM MARKET, BY REGIONS
TABLE 5 NORTH AMERICA INDUSTRIAL IOT PLATFORM MARKET, BY COUNTRY
TABLE 6 NORTH AMERICA INDUSTRIAL IOT PLATFORM MARKET, BY COMPONENT
TABLE 7 NORTH AMERICA INDUSTRIAL IOT PLATFORM MARKET, BY APPLICATION
TABLE 8 NORTH AMERICA INDUSTRIAL IOT PLATFORM MARKET, BY VERTICALS
Continued……
LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 GLOBAL INDUSTRIAL IOT PLATFORM MARKET: BY COMPONENT (%)
FIGURE 3 GLOBAL INDUSTRIAL IOT PLATFORM MARKET: BY APPLICATION (%)
FIGURE 4 GLOBAL INDUSTRIAL IOT PLATFORM MARKET: BY VERTICALS (%)
FIGURE 5 GLOBAL INDUSTRIAL IOT PLATFORM MARKET: BY REGION
Continued……
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