NEW YORK, Sept. 22, 2022 (GLOBE NEWSWIRE) -- The comprehensive industry research on "Global Industrial IoT Market" published by Data Bridge Market research includes growth analysis, regional marketing, challenges, opportunities, and drivers analyzed in the report. The credible Global Industrial IoT Market report offers actionable market insights with which businesses can make out sustainable and lucrative strategies. Not to mention, the report analyses the general market conditions such as product price, profit, capacity, production, supply, demand, and market growth rate which supports businesses in deciding upon several strategies. Porter's Five Forces analysis has been performed while formulating this market document along with many other standard steps of researching, analyzing, and collecting data. Additionally, key players, major collaborations, mergers, acquisitions, trending innovations,s and business policies are also re-evaluated in the Industrial IoT Market report. It becomes easy to figure out brand awareness and insight about the brand and product among potential customers.
Data Bridge Market Research analyses that the global industrial IoT market is expected to reach a value of USD 540,976.71 million by 2029, at a CAGR of 10.1% during the forecast period. "Sensors" accounts for the most prominent technology segment as this type of technology is in demand and is the best option to extract information from industrial components. The industrial IoT market report also covers pricing analysis, patent analysis, and technological advancements in depth.
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The extension and application of the internet of things (IoT) in industrial sectors and applications are referred to as the industrial internet of things (IIoT). The Machine-to-Machine (M2M) Internet of Things (IIoT) enables businesses and industries to operate more efficiently and reliably because of its strong emphasis on M2M connectivity, big data, and machine learning. Industrial applications such as robotics, medical technology, and software-defined production processes are all included in the IIoT.
Increased use of the industrial IoT market due to the adoption of artificial intelligence (AI) and machine learning (ML) in the end-user industry is also driving the market's growth. The higher probability of device theft and data breaches is expected to restrain the industrial IoT market. Growing internet penetration and digitalization across the globe are an opportunity for the industrial IoT market. High installation costs and difficulties in integrating IoT devices are challenging the global industrial IoT market.
Recent Development:
- In March 2022, Cisco Systems, Inc. developed an advanced IoT Control Center platform to help improve service reliability and reduce operational costs. This development will help the company diversify its solution portfolio and offers better quality solutions
- In April 2022, Arm Limited introduced two new solutions, Arm Cortex-M85 and Cortex-A. These new products and solutions will help the company offer better solutions to customers, attracting new customers and accelerating revenue growth
Some of the major players operating in the Industrial IoT market are:
- Cisco Systems, Inc.
- Siemens
- General Electric
- IBM Corporation
- Intel Corporation
- PTC
- Honeywell International Inc.
- NEC Corporation
- Rockwell Automation, Inc.
- ABB
- SAP SE
- Texas Instruments Incorporated
- Robert Bosch GmbH
- Emerson Electric Co.
- Microsoft
- KUKA AG
- Sigfox Partner Network (a subsidiary of UnaBiz)
- Wipro
- Arm Limited (a subsidiary of Softbank Group Corp.)
- Huawei Technologies Co., Ltd.
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The industrial IoT market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to industrial IoT market.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios of the top players in the Industrial IoT market
Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Industrial IoT market
Key Market Drivers:
Increase in adoption of artificial intelligence (AI) and machine learning (ML) in end user industry
The popularity of AI and ML is increasing year over year in various industries such as manufacturing, healthcare, energy, oil & gas, and many others. Most of these industries adopt the technology to increase working efficiency, automate the service delivery process, and modernize the offerings, which has gained an important role in competing with competitors in the market.
The surge in implementation of sensors and distributed control systems in business operations
The adoption of sensors and distributed control system will help control and manage the work process and automate the management process for all industrial processes. Thus, the demand for implementing sensors and DCS in various business operations will increase yearly.
Increase in the need for real-time data solutions and services
The real-time data solutions require a wide range of electronic devices, and majorly the demand for IoT devices is expected to increase because to support the real-time data analysis in business operations to support the quick understanding of data and guide the decisions to deliver products or services to customers.
How will this Market Intelligence Report Benefit You?
- The report offers statistical data in terms of value (US$) as well as Volume (units)
- Exclusive insight into the key trends affecting this industry, although key threats, opportunities and disruptive technologies that could shape the Global Market supply and demand
- The report tracks the leading market players that will shape and impact this Market most
- The data analysis present in this report is based on the combination of both primary and secondary resources
- The report helps you to understand the real effects of key market drivers or retainers on this business
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Industry Segmentation:-
The industrial IoT market is segmented based on technology, application, connectivity, and end use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
By Technology:
- Sensors
- Industrial Robotics
- Cameras
- Distributed Control System
- GPS/GNSS
- Networking Technology
- RFID
- Interface Board
By Application
- SCADA
- MES
- PLM
- Distribution Management System
- Transit Management System
- Outage Management System
- Visualization Software
By Connectivity
- Wired
- Wireless
- Hybrid
By End-Use
- Manufacturing
- Transportation & Logistics
- Energy
- Oil & Gas
- Metal & Mining
- Healthcare
Regional Analysis/Insights: Industrial IoT Market
The industrial IoT market is analyzed, and market size insights and trends are provided by country, technology, application, connectivity, and end-use, as referenced above.
The countries covered in the industrial IoT market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina, and rest of South America as part of South America.
TABLE OF CONTENTS:
Part 01: Executive Summary
Part 02: Scope of the Report
Part 03: Research Methodology
Part 04: Market Landscape
Part 05: Pipeline Analysis
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation
Part 09: Customer Landscape
Part 10: Regional Landscape
Part 11: Decision Framework
Part 12: Drivers and Challenges
Part 13: Market Trends
Part 14: Vendor Landscape
Part 15: Vendor Analysis
Part 16: Appendix
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- Europe Industrial IoT Market, By Technology (Sensors, Industrial Robotics, Cameras, Distributed Control System, GPS/GNSS, Networking Technology, RFID, Interface Board, Condition Monitoring, Yield Monitoring, Smart Meters, Smart Beacon, Flow & Application Control Device, Guidance & Steering, and Electronic Shelf Label), Application (SCADA, MES, PLM, Distribution Management System, Transit Management System, Outage Management System, Visualization Software, Remote Patient Monitoring, Retail Management Software, Farm Management System And Others), Connectivity (Wired, Wireless And Hybrid), End Use (Manufacturing, Transportation & Logistics, Energy, Oil & Gas, Metal & Mining, Healthcare, Retail, Agriculture, and Others) https://www.databridgemarketresearch.com/reports/europe-industrial-iot-market
- Asia-Pacific Industrial IoT Market, By Technology (Sensors, Industrial Robotics, Cameras, Distributed Control System, GPS/GNSS, Networking Technology, RFID, Interface Board, Condition Monitoring, Yield Monitoring, Smart Meters, Smart Beacon, Flow & Application Control Device, Guidance & Steering, and Electronic Shelf Label), Application (SCADA, MES, PLM, Distribution Management System, Transit Management System, Outage Management System, Visualization Software, Remote Patient Monitoring, Retail Management Software, Farm Management System And Others), Connectivity (Wired, Wireless And Hybrid), End Use (Manufacturing, Transportation & Logistics, Energy, Oil & Gas, Metal & Mining, Healthcare, Retail, Agriculture, and Others) https://www.databridgemarketresearch.com/reports/asia-pacific-industrial-iot-market
- Middle East and Africa Industrial IoT Market, By Technology (Sensors, Industrial Robotics, Cameras, Distributed Control System, GPS/GNSS, Networking Technology, RFID, Interface Board, Condition Monitoring, Yield Monitoring, Smart Meters, Smart Beacon, Flow & Application Control Device, Guidance & Steering, and Electronic Shelf Label), Application (SCADA, MES, PLM, Distribution Management System, Transit Management System, Outage Management System, Visualization Software, Remote Patient Monitoring, Retail Management Software, Farm Management System, and Others), Connectivity (Wired, Wireless, and Hybrid), End Use (Manufacturing, Transportation & Logistics, Energy, Oil & Gas, Metal & Mining, Healthcare, Retail, Agriculture, and Others) https://www.databridgemarketresearch.com/reports/middle-east-and-africa-industrial-iot-market
- North America Industrial IoT Market, By Technology (Sensors, Industrial Robotics, Cameras, Distributed Control System, GPS/GNSS, Networking Technology, RFID, Interface Board, Condition Monitoring, Yield Monitoring, Smart Meters, Smart Beacon, Flow & Application Control Device, Guidance & Steering, and Electronic Shelf Label), Application (SCADA, MES, PLM, Distribution Management System, Transit Management System, Outage Management System, Visualization Software, Remote Patient Monitoring, Retail Management Software, Farm Management System, and Others), Connectivity (Wired, Wireless, and Hybrid), End Use (Manufacturing, Transportation & Logistics, Energy, Oil & Gas, Metal & Mining, Healthcare, Retail, Agriculture, and Others) https://www.databridgemarketresearch.com/reports/north-america-industrial-iot-market
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