Industrial IoT Market - Industry Size, Share, Growth & Forecast 2028 | UnivDatos
Industrial IoT is
defined as the use of actuators and smart sensors to enhance manufacturing and
production along with the improvement in the industrial process. Additionally,
industrial IoT is often called as industry 4.0 or industrial internet and uses
the power of real-time analytics and smart machine to provide effective and
required results. In recent times, IoT in the industrial sector has seen
significant growth owing to its ability to find the inefficiency and problems
at an early stage and provide several benefits such as cost and time saving as
well as provide control over quality and sustainable practices.
The
Industrial IoT Market is expected to grow at a steady rate of around 7% owing
to the increasing utilization of the industrial IoT in the energy sector,
automotive sector, manufacturing sector, and agriculture sector coupled with
the increasing investment and technological advancement. Major
companies in the market offer industrial IoT for challenging applications with
technologically advanced features. For instance, in February 2021, Cisco
partnered with the Newark company to provide the industrial IoT network for
non-carpeted and harsh environmental conditions across North America.
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According to UnivDatos Market Insights (UMI)’
research report “Global Industrial IoT Market”,
the market is expected to witness robust growth during the forecast period (2022-2028).
This is mainly due to the growing demand from manufacturing, oil & gas, and
for predictive maintenance.
Based on components, the market is segmented into hardware, solution,
and services. The solution segment is expected to witness significant market
growth during the forecast period on the account of increasing overall
equipment effectiveness, improve efficiency, and cost reduction through better
access to the data from real-time solutions are supporting the growth of the
solution segment. Also, the production process planning, optimization by the
data collection, real-time monitoring, and sensor-generated data analysis are
propelling the growth of the solution segment. Furthermore, the applicability
of the solution segment in several industry verticals makes it more demanding
than the other.
Based on the end-users,
the industrial IoT market is segmented
into manufacturing, energy & power, healthcare, agriculture, and other
segments. The industrial IoT in the manufacturing sector is expected to witness
significant market growth during the forecast period owing to machine
utilization, predictive maintenance, asset tracking, facility management, and
just-in-time manufacturing facility. Additionally, IoT helps the organization
with the better scheduling and planning of production activities along with
process optimization and improved efficiency.
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APAC to witness extensive growth
For a better understanding of the market
adoption of the industrial IoT industry, the market is analyzed based on its
worldwide presence in the countries such as North America (U.S., Canada, Rest
of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of
Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of
World. APAC is anticipated to grow at a substantial CAGR during the forecast
period. This is mainly due to the growing number of industries and better
connectivity networks in the region. Additionally, the increasing population
along with increasing research & development expenditure with the
increasing number of local and international IT companies in the region are
expected to support the industrial IoT market in the region. Also, the growing
investment and increasing number of various industry verticals such as
healthcare, manufacturing, and grid formation are creating the demand for
industrial IoT in the region. Furthermore, the government takes several
measures in the region to support industry 4.0. For instance, in India, the
government’s industry 4.0 vision rests on four major principles including
information transparency, interconnection, decentralized decision making, and
technical assistance.
According to UnivDatos Market Insights (UMI)’,
the key players with a considerable market share in the industrial IoT market
are Oracle, IBM
Corporation, Cisco System Inc., Microsoft Corporation, Rockwell Automation,
Inc., Energyworx BV, HCL Technologies Limited, Honeywell International Inc.,
ABB, and Siemens.
“Global
Industrial
IoT Market” provides comprehensive qualitative and quantitative insights on
the industry potential, key factors impacting sales and purchase decisions,
hotspots, and opportunities available for the market players. Moreover, the
report also encompasses the key strategic imperatives for success for
competitors along with strategic factorial indexing measuring competitors’
capabilities on different parameters. This will help companies in the
formulation of go-to-market strategies and identifying the blue ocean for its
offerings.
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Informative Information, Please Visit Us – https://univdatos.com/report/industrial-iot-market/
Market Segmentation:
1. By
Components (Hardware, Solution, and Service)
2. By
Connectivity (Wired and Non-wired)
3. By
End-Users (Manufacturing, Energy & Power,
Healthcare, Agriculture, and Other)
4. By
Region (North America, Europe, Asia-Pacific, Rest of
the World)
5. By
Company (Oracle, IBM Corporation, Cisco System Inc.,
Microsoft Corporation, Rockwell Automation, Inc., Energyworx BV, HCL
Technologies Limited, Honeywell International Inc., ABB, and Siemens)
Key
questions answered in the study:
1.
What are the current and future trends
of the global industrial IoT industry?
2.
How the industry has been evolving in
terms of components, connectivity, and end-users?
3.
How the competition has been shaping
across the countries followed by their comparative factorial indexing?
4.
What are the key growth drivers and
challenges for the global industrial IoT industry?
5.
What is the customer orientation,
purchase behavior, and expectations from the global industrial IoT suppliers
across various region and countries?
Table
of Content –
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 IMPACT OF COVID-19 ON THE INDUSTRIAL IoT
MARKET
6 GLOBAL INDUSTRIAL IoT MARKET REVENUE (USD
BN), 2019-2027F
7 MARKET INSIGHTS BY COMPONENT
8 MARKET INSIGHTS BY CONNECTIVITY
9 MARKET INSIGHTS BY END-USERS
10 MARKET INSIGHTS BY REGION
11 INDUSTRIAL IoT MARKET DYNAMICS
12 INDUSTRIAL IoT MARKET OPPORTUNITIES
13 INDUSTRIAL IoT MARKET TRENDS & INSIGHTS
14 DEMAND AND SUPPLY SIDE ANALYSIS
15 VALUE CHAIN ANALYSIS
16 COMPETITIVE SCENARIO
17 COMPANY PROFILED
18 DISCLAIMER
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