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Industrial IoT Market: Market Leader
Industrial Internet of Things (IIoT) is the application of data analytics on a connected ecosystem of different kinds of machines and components. The IIoT ecosystem includes players from various industries such as semiconductors, networking, telecommunication, software, and process automation. Hence, established companies as well as start-ups from these sectors would contribute to the development of the Industrial IoT market. General Electric (GE) Corporation (U.S.), Intel Corporation (U.S.), Rockwell Automation, Inc., (U.S.), Cisco Inc. (U.S.), and ARM Holdings plc. (U.K.) are some of the key players influencing the market for IIoT.
GE Corporation (U.S.) is expected to play a significant role in the Industrial IoT market. GE offers a broad portfolio of equipment for industrial automation, power generation, and aviation sectors. It also provides predictive maintenance technologies from its Bently-Nevada product portfolio to monitor its equipment and detect potential breakdowns. GE has integrated all these product lines with its Industrial IoT solutions portfolio to provide end-to-end solutions for various industries. GE is particularly keen on improving the operational efficiency of its industrial equipment through IoT and predictive maintenance. Hence, it has started connecting most of its operational equipment to the network and has increased its investments in software solutions to enhance its data analytics capabilities for detecting potential failures and other performance issues. GE’s Predix platform for IIoT offers unique data monitoring and diagnostic capabilities to its customers. Its collaboration with the wireless connectivity provider Verizon Communications, Inc. (U.S.) enables it to deliver a range of value-added services for the Predix platform. GE is one of the founding members of the Industrial Internet Consortium.
Intel Corporation (U.S.) is a pioneer and leader in microprocessors for a wide range of applications. It offers microprocessors and chipsets for personal computers, servers, data centers, embedded systems, and mobile devices. Its products are designed to deliver a high computing performance. A majority of the servers and data centers that are used in the market for performing big data analytics in IoT are powered by Intel processors. Intel also occupies a leading market share in the embedded processor segment. The company recently reorganized its business divisions to accelerate and broaden its market segments and increase its focus on emerging business segments. This reorganization included the formation of “Internet of Things Solutions Group” to bring together intelligent systems hardware, software, services, and platform elements under one group.
Industrial IoT Market by Industry Vertical (Manufacturing, Energy & Power, Oil & Gas, Metals & Mining, Healthcare, & Agriculture), Technology (Sensors, Networking Technology, DCS, & Others), Software, & Geography - Global Forecast to 2020
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