Industrial Internet of Things (IIoT) Market - Global Industry Analysis

Industrial Internet of Things (IIoT) Market

Industrial Internet of Things (IIoT) Market by Component (Sensors, Industrial Robotics, Distributed Control System (DCS), Condition Monitoring, Camera Systems, Smart Meters, and Others), by Software (Product Lifecycle Management (PLM) Systems, Manufacturing Execution System (MES), SCADA Systems, Distribution Management System, and Others), for Verticals (Manufacturing, Utilities, Oil & Gas, Metals & Mining, Retail, Healthcare, Transportation & Logistics, and Others) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2023

Published Date: 23-Apr-2018 Category: Semiconductor & Electronics Report Format : PDF Pages: 110 Report Code: ZMR-2790 Status : Published

Global industrial internet of things (IIoT) market expected to reach approximately USD 232.15 Billion by 2023, growing at a CAGR of around 8.06% between 2018 and 2023. The IoT alludes to the system or systems encompassing the utilization of standard Internet Protocol (IP) technologies to connect people, processes, and things to empower new cyber-physical systems.

Industrial Internet of Things (IIoT) Market

Description

The report covers forecast and analysis for the industrial internet of things (IIoT) market on a global and regional level. The study provides historic data for 2015, 2016, and 2017 along with a forecast from 2018 to 2023 based on revenue (USD Billion). The study includes drivers and restraints for the industrial internet of things (IIoT) market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the industrial internet of things (IIoT) market on a global level.

In order to give the users of this report a comprehensive view on the industrial internet of things (IIoT) market, we have included a detailed competitive scenario and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s five forces model for the industrial internet of things (IIoT) market has also been included. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness. 

Industrial internet of things (IIoT) market is segmented based on component, software, vertical, and region. The component segment included in this market are sensors, industrial robotics, a distributed control system (DCS), condition monitoring, camera systems, smart meters, and others. Software segment includes product lifecycle management (PLM) systems, manufacturing execution system (MES), SCADA systems, distribution management system, and others. The vertical segment includes manufacturing, utilities, oil & gas, metals & mining, retail, healthcare, transportation & logistics, and others. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and the Middle East and Africa with its further bifurcation into major countries including U.S., France, UK, Germany, China, India, Japan, and Brazil.

Global Industrial Internet of Things (IIoT) Market

The report covers detailed competitive outlook including company profiles of the key participants operating in the global industrial internet of things (IIoT) market. Key players profiled in this report include ARM Ltd., Cisco Systems, Inc., General Electric, Intel Corporation, Rockwell Automation, Inc., ABB, Texas Instruments Inc., Dassault Systems, Honeywell International Inc., and Huawei Technology Co., Ltd. 

The report segments industrial internet of things (IIoT) into:

Global Industrial Internet of Things (IIoT) Market: Component Segment Analysis

  • Sensors
  • Industrial Robotics
  • Distributed Control System (DCS)
  • Condition Monitoring
  • Camera Systems
  • Smart Meters
  • Others

Global Industrial Internet of Things (IIoT) Market: Software Segment Analysis

  • Product Lifecycle Management (PLM) Systems
  • Manufacturing Execution System (MES)
  • SCADA Systems
  • Distribution Management System
  • Others

Global Industrial Internet of Things (IIoT) Market: Vertical Segment Analysis

  • Manufacturing
  • Utilities
  • Oil & Gas
  • Metals & Mining
  • Retail
  • Healthcare
  • Transportation & Logistics
  • Others

Global Industrial Internet of Things (IIoT) Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

Table Of Content

Methodology

Free Analysis

The IIoT is a part of a bigger concept known as the internet of things (IoT). The IoT is a system of intelligent computers, gadgets, and objects that gather and share huge amounts of data. The gathered information is sent to a central cloud-based administration where it is accumulated with other information and then shared with end users in a helpful way. The IoT will increase automation in homes, schools, stores, and in numerous businesses. The application of the IoT to the manufacturing industry is called the IIoT. The IIoT will reform manufacturing by empowering the procurement and accessibility of far greater amounts of data, at far more prominent speeds, and much more effectively than before. Various innovative organizations have begun to execute the IIoT by leveraging intelligent, connected devices in their processing plants.

Development of new operating models to create a connected enterprise for merging operational and information departments by leading organizations across the globe primarily drive the growth of industrial internet of things (IIoT) market. For instance, Rockwell Automation developed a five-stage connected enterprise maturity model that incorporates measures and best practices necessary to ensure effective change in both technologies and organizational cultures. This transformation is anticipated to increase the overall productivity, enhance operational productivity, enhance visibility, and diminish the complexities of various processes in the industry. The progressive advantages in manufacturing processes on account of deployment of the industrial internet of things are another factor driving the industrial internet of things (IIoT) market. This is on the grounds that IIoT enhances operational effectiveness by methods for saddling data and acting in response to the data gathered from smart machines. Furthermore, increasing investments in smart technologies to improve operational efficiency by various industries is anticipated to propel the global industrial internet of things (IIoT) market. However, lack of a defined protocol or standardization and use of old equipment are restraining the growth of global industrial internet of things (IIoT) market.

Global Industrial Internet of Things (IIoT) Market

Industrial internet of things (IIoT) market is segmented based on component, software, vertical, and region. The component segment included in this market are sensors, industrial robotics, a distributed control system (DCS), condition monitoring, camera systems, smart meters, and others. Camera system segment is expected to grow at highest CAGR in given forecasted period. This is mainly due to increasing use of camera systems for security purpose in various industries such as manufacturing and transportation. Software segment includes product lifecycle management (PLM) systems, manufacturing execution system (MES), SCADA systems, distribution management system, and others. Among software segment, the demand for distribution system has increased over the period of time due to increasing use of distribution system in transportation and logistics industry. The vertical segment includes manufacturing, utilities, oil & gas, metals & mining, retail, healthcare, transportation & logistics, and others. The manufacturing sector is expected to witness moderate growth in the industrial internet of things (IIoT) market due to the adoption of advanced robotics and cloud robotics in manufacturing practices. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and the Middle East and Africa with its further bifurcation into major countries including U.S., France, UK, Germany, China, India, Japan, and Brazil.

Key players profiled in the global industrial internet of things (IIoT) market include ARM Ltd., Cisco Systems, Inc., General Electric, Intel Corporation, Rockwell Automation, Inc., ABB, Texas Instruments Inc., Dassault Systems, Honeywell International Inc., and Huawei Technology Co., Ltd.

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