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.),
International Business Machines Corporation (U.S.),
General Electric Corporation (U.S.),
Siemens AG (Germany),
SAP SE (Germany),
NEC Corporation (Japan),
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.
For the purpose of this study, the market of Industrial IoT Platform has been segmented on the basis of components, application, verticals and region. The component includes-hardware which further has been segmented into sensors, cameras, processing units among others and software. By Application the market has been segmented as asset management, remote monitoring, and network system management among others. Further the market has been segmented into verticals which includes- manufacturing, power and utilities, aviation, oil and gas among others.
Asia-Pacific is expected to dominate the global market of Industrial IoT Platform. High population and high consumption of electronic devices in Asian countries is supporting the market share. China is one of the biggest manufacturing driven economy. Rich consumer electronic industry and high supply is leading to high adoption of industrial IoT platform whereas rich automotive industry in South Korea and Japan is also supporting the market growth. North America stands as second biggest market of industrial IoT platform due to the heavy investment in technology startups from past several years. North America is one of the developed nation who holds advance technologies which is not available to many other countries. Rich defence sector and manufacturing industry is leading to the high growth of North America Industrial IoT Platform Market.
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- Software Development companies
- Application development companies
- Companies dealing with IOT
- Sensor Manufacturers
- Electronic Manufacturing Companies and Suppliers
- Research Institutions
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