The report on the global Industrial IoT Platform market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis for every segment, key player’s market share analysis, competitive landscape and supply chain analysis.
An IIoT platform is a set of hardware and software facilities that support applications for industrial companies. It uses the internet to connect devices and equipment and this use of the internet is commonly called the Industrial Internet of Things (IIoT).
Past couple of years has noted several IIoT platform providers shift from pilot to enterprise roll-outs with more than one market player going ahead with customers to make enterprise commitments. Case in point being C3IoT, who went enterprise-wide with Enel, which is the largest utility in Italy.
Trade pundits also clarify that the advent of Asset Performance Management (APM) has led to a shift in the focus, which is improving reliability, decreasing downtime and reducing unplanned maintenance. MRFR sees the time period from 2016 to 2022 when the focus will be on optimizing the profitability from an equipment. Hence, machine learning and improved Big Data Analytics will allow business to decide the best operating profile for the plant based on the order backlog and reliability issues. All these factors will be highly instrumental in augmenting the growth of the market in the foreseeable future.
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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.
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.
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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- Software Development companies
- Application development companies
- Companies dealing with IOT
- Sensor Manufacturers
- Electronic Manufacturing Companies and Suppliers
- Research Institutions
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
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
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