HOME Top Market Reports IIoT Market by Device & Technology (Sensor, RFID, Industrial Robotics, DCS, Condition Monitoring, Smart Meter, Camera System, Networking Technology), Software (PLM, MES, SCADA), Vertical, and Geography - Global Forecast to 2023

IIoT Market by Device & Technology (Sensor, RFID, Industrial Robotics, DCS, Condition Monitoring, Smart Meter, Camera System, Networking Technology), Software (PLM, MES, SCADA), Vertical, and Geography - Global Forecast to 2023

By: marketsandmarkets.com
Publishing Date: June 2018
Report Code: SE 2909

 

  Speak to Analyst Enquiry Before Buying Webinar
purchase report
download pdf  request for customisation


The IIoT market is expected was valued at USD 59.54 billion in 2017 and is expected to reach USD 91.40 billion by 2023, at a CAGR of 7.39% during the forecast period. The major factors driving the growth of the IIoT market include technological advancements in semiconductor and electronics devices, availability of automation solutions, improved data rates, and coverage of communication technologies; increasing use of cloud computing platform; growing adoption of IPv6; and support from governments worldwide pertaining to the adoption of IIoT solutions.

The objectives of the study include:

  • To define, describe, segment, and forecast the Industrial Internet of Things (IIoT) market based on device & technology, software, vertical, and geography
  • To forecast the market size, in terms of value, of various segments with regard to 4 main regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding the market dynamics influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To strategically analyze the micromarkets1 with respect to individual growth trends, future prospects, and contributions to the total market
  • To analyze opportunities in the market for stakeholders by identifying high-growth segments of the IIoT market
  • To strategically profile the key players and comprehensively analyze their market ranking and core competencies2, along with detailing the competitive landscape for market leaders
  • To study the complete value chain and allied industry segments pertaining to the IIoT market
  • To analyze strategic developments such as joint ventures, mergers & acquisitions, product developments, and research and development (R&D) in the IIoT market
  • To analyze the competitive landscape based on company profiles, key player strategies, and recent developments, such as product launches and acquisitions, carried out by the players in the IIoT market

Years considered for this report:

  • Base Year: 2017
  • Estimated Year: 2018
  • Projected Year: 2023
  • Forecast Period: 2018–2023

In the complete market engineering process, both top-down and bottom-up approaches, along with several data triangulation methods, have been used to estimate and validate the size and value of the IIoT market and other dependent submarkets. The key players in the market have been determined through primary and secondary research. This entire research methodology involves the study of the annual and financial reports of top market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) into the IIoT market.

Industrial IoT Market

To know about the assumptions considered for the study, download the pdf brochure

The IIoT market ecosystem comprises players such as ARM (UK), Cisco (US), GE (US), Intel (US), Rockwell Automation (US), ABB (Switzerland), Texas Instruments (US), Dassault Systθmes (France), Honeywell (US), Huawei Technologies (China), IBM (US), Kuka (Germany), NEC Corporation (Japan), Bosch (Germany), Siemens AG (Germany), and PTC (US).

Key Target Audience:

  • Semiconductor component manufacturers and distributors
  • Industrial automation equipment providers
  • Component providers
  • Companies providing wired and wireless connectivity services
  • Software application and platform providers
  • Data analytics and cloud computing solution providers
  • ODM and OEM technology solution providers
  • Intellectual property (IP) core and licensing providers
  • Research organizations and consulting companies
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists and private equity firms
  • Associations, organizations, and alliances related to IIoT
  • End users of IIoT solutions across verticals

This study answers several questions for stakeholders, primarily which market segments to focus in the next 2–5 years (depending on the range of forecast period) for prioritizing their efforts and investments.

Report Scope:

In this report, the IIoT market has been segmented into the following submarkets.

  • By Device & Technology:
    • Sensor
    • RFID
    • Industrial Robotics
    • Distributed Control System
    • Condition Monitoring
    • Smart Meter
    • Smart Beacon
    • Yield Monitoring
    • Electronic Shelf Label
    • Camera
    • Guidance & Steering
    • GPS/GNSS
    • Interface Board
    • Flow & Application Control Device
    • Networking Technology
  • By Software:
    • PLM
    • MES
    • SCADA
    • Outage Management System
    • Distribution Management System
    • Visualization Software
    • Transit Management System
    • Remote Patient Monitoring
    • Farm Management System
  • By Vertical:
    • Manufacturing
    • Energy
    • Oil &Gas
    • Metal & Mining
    • Healthcare
    • Retail
    • Transportation
    • Agriculture
  • Geographic Analysis:
    • North America
      • US
      • Canada
      • Mexico
    • Europe
      • UK
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • Japan
      • India
      • Rest of APAC
    • RoW
      • South America
      • Middle East
      • Africa
  • Competitive Landscape
  • Company Profiles: Detailed analysis of the major companies present in the IIoT market.

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix gives a detailed comparison of product portfolio of each company

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)


Get more insight on other verticals of Semiconductor and Electronics Market Research Reports & Consulting

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Objectives of the Study
    1.2 Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Analysis of Asps for Different Types of Sensors
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing the Market Share By Top-Down Analysis (Supply Side)
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 30)

4 Premium Insights (Page No. - 37)
    4.1 Attractive Growth Opportunities for the IIoT Market Between 2018 and 2023
    4.2 IIoT Market: Comparison of Growth Pattern of Verticals
    4.3 Market in APAC, 2017
    4.4 IIoT Market, By Geography, 2017
    4.5 Market, By Technology, 2018 & 2023

5 Market Overview (Page No. - 41)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Technological Advancements in Semiconductor and Electronics Devices
                    5.2.1.2 Increasing Use of Cloud Computing Platform
                    5.2.1.3 Standardization of Ipv6
                    5.2.1.4 Support From Governments Worldwide
                    5.2.1.5 Decreasing Cost Automation Systems
           5.2.2 Restraints
                    5.2.2.1 Lack of Standardization
                    5.2.2.2 Legacy Equipment
                    5.2.2.3 Lack of Skilled Workforce
           5.2.3 Opportunities
                    5.2.3.1 Predictive Maintenance
                    5.2.3.2 Increasing Number of Data Centers
                    5.2.3.3 Innovative Cross Domain Applications and Development of Comprehensive System Solutions
           5.2.4 Challenges
                    5.2.4.1 Data Security and Privacy
                    5.2.4.2 Maintenance and Updates

6 Industry Trends (Page No. - 48)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Emerging Trends
           6.3.1 Digital Twin Technology
           6.3.2 Edge Computing Technology

7 IIoT Market, By Technology (Page No. - 50)
    7.1 Introduction
    7.2 Sensor
    7.3 RFID
    7.4 Industrial Robotics
    7.5 Distributed Control System
    7.6 Condition Monitoring
    7.7 Smart Meter
    7.8 Electronic Shelf Label
    7.9 Camera
    7.10 Smart Beacon
    7.11 Interface Board
           7.11.1 Multifunctional Board
           7.11.2 Vehicle Detection Board
           7.11.3 Communication Board
    7.12 Yield Monitor
    7.13 Guidance and Steering
    7.14 Gps/Gnss
    7.15 Flow and Application Control Device
    7.16 Networking Technology
           7.16.1 Wired Technologies
                    7.16.1.1 Ethernet
                    7.16.1.2 Modbus
                    7.16.1.3 Profinet
                    7.16.1.4 Foundation Fieldbus
           7.16.2 Wireless Technologies
                    7.16.2.1 Wi-Fi
                    7.16.2.2 Zigbee
                    7.16.2.3 Bluetooth Low Energy (BLE)
                    7.16.2.4 Cellular Technologies
                    7.16.2.5 Satellite Technology

8 IIoT Market, By Software (Page No. - 64)
    8.1 Introduction
    8.2 Product Lifecycle Management
    8.3 Manufacturing Execution System
    8.4 Scada Systems
    8.5 Outage Management System
    8.6 Distribution Management System
    8.7 Remote Patient Monitoring System
    8.8 Retail Management Software
    8.9 Visualization Software
    8.10 Transit Management System
    8.11 Farm Management System

9 IIoT Market, By Vertical (Page No. - 70)
    9.1 Introduction
    9.2 Manufacturing
           9.2.1 Automotive
           9.2.2 Machinery
           9.2.3 Food & Beverages
           9.2.4 Chemicals and Materials
           9.2.5 Electrical and Electronics
           9.2.6 Pharmaceuticals
    9.3 Energy
           9.3.1 Smart Grid
    9.4 Oil & Gas
    9.5 Metals and Mining
    9.6 Healthcare
    9.7 Retail
    9.8 Transportation
    9.9 Agriculture

10 Geographic Analysis (Page No. - 119)
     10.1 Introduction
     10.2 North America
             10.2.1 US
             10.2.2 Canada
             10.2.3 Mexico
     10.3 Europe
             10.3.1 UK
             10.3.2 Germany
             10.3.3 France
             10.3.4 Rest of Europe
     10.4 Asia Pacific (APAC)
             10.4.1 China
             10.4.2 Japan
             10.4.3 India
             10.4.4 Rest of APAC
     10.5 Rest of the World (RoW)
             10.5.1 South America
             10.5.2 Middle East
             10.5.3 Africa

11 Competitive Landscape (Page No. - 135)
     11.1 Overview
     11.2 Market Ranking Analysis
     11.3 Competitive Situation and Trends
             11.3.1 Product Launches and Developments
             11.3.2 Contracts, Partnershps, Collaborations, and Agreements
             11.3.3 Mergers & Acquisitions
             11.3.4 Expansions

12 Company Profiles (Page No. - 144)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
     12.1 Cisco
     12.2 Ge
     12.3 Honeywell
     12.4 Intel
     12.5 IBM
     12.6 ABB
     12.7 Rockwell Automation
     12.8 Siemens
     12.9 Huawei
     12.10 Bosch
     12.11 Kuka
     12.12 Texas Instrumemts
     12.13 Dassault Systemes
     12.14 PTC
     12.15 ARM
     12.16 NEC

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 197)
     13.1 Insights of Industry Experts
     13.2 Discussion Guide
     13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.4 Introducing RT: Real-Time Market Intelligence
     13.5 Available Customizations
     13.6 Related Reports
     13.7 Author Details


List of Tables (96 Tables)

Table 1 Key Industry Alliances and Consortiums for Internet of Things
Table 2 Assumptions of the Research Study
Table 3 Industrial IoT Market, 2015–2023 (USD Billion)
Table 4 Industrial IoT Market, By Device & Technology, 2015–2023 (USD Billion)
Table 5 IIoT Market, By Software, 2015–2023 (USD Billion)
Table 6 Market, By Vertical, 2015–2023 (USD Billion)
Table 7 Industrial IoT Market for Manufacturing Vertical, 2015–2023 (USD Billion)
Table 8 IIoT Market for Manufacturing Vertical, By Region, 2015–2023 (USD Billion
Table 9 Industrial IoT Market for Manufacturing Vertical, By Device & Technology, 2015–2023 (USD Billion)
Table 10 Market for Manufacturing Vertical, By Software, 2015–2023 (USD Billion)
Table 11 Industrial IoT Market for Sensors for Manufacturing Vertical, By Region, 2015–2023 (USD Million)
Table 12 IIoT Market for RFID for Manufacturing Vertical, By Region, 2015–2023 (USD Million)
Table 13 Industrial IoT Market for Industrial Robotics for Manufacturing Vertical, By Region, 2015–2023 (USD Billion)
Table 14 Market for DCS for Manufacturing Vertical, By Region, 2015–2023 (USD Million)
Table 15 Industrial IoT Market for Condition Monitoring for Manufacturing Vertical, By Region, 2015–2023 (USD Million)
Table 16 IIoT Market for Networking Technology for Manufacturing Vertical, By Region, 2015–2023 (USD Million)
Table 17 Industrial IoT Market for PLM for Manufacturing Vertical, By Region, 2015–2023 (USD Million)
Table 18 IIoT Market for MES for Manufacturing Vertical, By Region, 2015–2023 (USD Billion)
Table 19 Industrial IoT Market for Scada for Manufacturing Vertical, By Region, 2015–2023 (USD Billion)
Table 20 Industrial IoT Market for Energy Vertical, 2015–2023 (USD Billion)
Table 21 Market for Energy Vertical, By Region, 2015–2023 (USD Billion)
Table 22 Industrial IoT Market for Energy Vertical, By Device & Technology, 2015–2023 (USD Billion)
Table 23 IIoT Market for Energy Vertical, By Software, 2015–2023 (USD Billion)
Table 24 Industrial IoT Market for Sensor for Energy Vertical, By Region, 2015–2023 (USD Million)
Table 25 IIoT Market for Smart Meter for Energy Vertical, By Region, 2015–2023 (USD Million)
Table 26 Industrial IoT Market for Networking Technology for Energy Vertical, By Region, 2015–2023 (USD Million)
Table 27 Industrial IoT Market for Oms for Energy Vertical, By Region, 2015–2023 (USD Million)
Table 28 Market for Dms for Energy Vertical, By Region, 2015–2023 (USD Billion)
Table 29 Industrial IoT Market for Oil & Gas Vertical, 2015–2023 (USD Billion)
Table 30 IIoT Market for Oil & Gas Vertical, By Region, 2015–2023 (USD Billion)
Table 31 Market for Oil & Gas Vertical, By Device & Technology, 2015–2023 (USD Billion)
Table 32 Industrial IoT Market for Sensor for Oil & Gas Vertical, By Region, 2015–2023 (USD Million)
Table 33 IIoT Market for DCS for Oil & Gas Vertical, By Region, 2015–2023 (USD Billion)
Table 34 Industrial IoT Market for Condition Monitoring for Oil & Gas Vertical, By Region, 2015–2023 (USD Million)
Table 35 Market for Networking Technology for Oil & Gas, By Region, 2015–2023 (USD Billion)
Table 36 Industrial IoT Market for Scada for Oil & Gas Vertical, By Region, 2015–2023 (USD Billion)
Table 37 IIoT Market for Metals & Mining Vertical, 2015–2023 (USD Billion)
Table 38 Industrial IoT Market for Metals & Mining Vertical, By Region, 2015–2023 (USD Billion)
Table 39 IIoT Market for Metals & Mining Vertical, By Device & Technology, 2015–2023 (USD Billion)
Table 40 Industrial IoT Market for Sensor for Metals & Mining Vertical, By Region, 2015–2023 (USD Million)
Table 41 Market for Industrial Robotics for Metals & Mining Vertical, By Region, 2015–2023 (USD Million)
Table 42 Industrial IoT Market for DCS for Metals & Mining Vertical, By Region, 2015–2023 (USD Million)
Table 43 IIoT Market for Condition Monitoring for Metals & Mining Vertical, By Region, 2015–2023 (USD Million)
Table 44 Market for Networking Technology for Metals & Mining Vertical, By Region, 2015–2023 (USD Million)
Table 45 Industrial IoT Market for Scada for Metals & Mining, By Region, 2015–2023 (USD Million)
Table 46 Industrial IoT Market for Healthcare Vertical, 2015–2023 (USD Billion)
Table 47 IIoT Market for Healthcare Vertical, By Region, 2015–2023 (USD Billion)
Table 48 Industrial IoT Market for Healthcare Vertical, By Device & Technology, 2015–2023 (USD Billion)
Table 49 IIoT Market for Sensor for Healthcare Vertical, By Region, 2015–2023 (USD Million)
Table 50 Market for RFID for Healthcare Vertical, By Region, 2015–2023 (USD Million)
Table 51 Industrial IoT Market for Networking Technology for Healthcare Vertical, By Region, 2015–2023 (USD Million)
Table 52 IIoT Market for Remote Patient Monitoring for Healthcare Vertical, By Region, 2015–2023 (USD Billion)
Table 53 Industrial IoT Market for Retail Vertical, 2015–2023 (USD Billion)
Table 54 Industrial IoT Market for Retail Vertical, By Region, 2015–2023 (USD Billion)
Table 55 IIoT Market for Retail Vertical, By Device & Technology, 2015–2023 (USD Billion)
Table 56 Industrial IoT Market for Sensor for Retail Vertical, By Region, 2015–2023 (USD Million)
Table 57 IIoT Market for RFID for Retail Vertical, By Region, 2015–2023 (USD Million)
Table 58 Industrial IoT Market for Esl for Retail Vertical, By Region, 2015–2023 (USD Million)
Table 59 Market for Camera for Retail Vertical, By Region, 2015–2023 (USD Million)
Table 60 Industrial IoT Market for Smart Beacon for Retail Vertical, By Region, 2015–2023 (USD Million)
Table 61 IIoT Market for Networking Technology for Retail Vertical, By Region, 2015–2023 (USD Billion)
Table 62 Industrial IoT Market for Retail Management Software for Retail Vertical, By Region, 2015–2023 (USD Billion)
Table 63 IIoT Market for Transportation Vertical, 2015–2023 (USD Billion)
Table 64 Industrial IoT Market for Transportation Vertical, By Region, 2015–2023 (USD Billion)
Table 65 IIoT Market for Transportation Vertical, By Device & Technology, 2015–2023 (USD Billion)
Table 66 Industrial IoT Market for Transportation Vertical, By Software, 2015–2023 (USD Billion)
Table 67 IIoT Market for Sensor for Transportation Vertical, By Region, 2015–2023 (USD Million)
Table 68 Industrial IoT Market for Interface Board for Transportation Vertical, By Region, 2015–2023 (USD Million)
Table 69 IIoT Market for Camera for Transportation Vertical, By Region, 2015–2023 (USD Million)
Table 70 Industrial IoT Market for Networking Technology for Transportation Vertical, By Region, 2015–2023 (USD Million)
Table 71 IIoT Market for Visualization Software for Transportation Vertical, By Region, 2015–2023 (USD Million)
Table 72 IIoT Market for Transit Management System for Transportation Vertical, By Region, 2015–2023 (USD Million)
Table 73 Industrial IoT Market for Agriculture Vertical, 2015–2023 (USD Billion)
Table 74 IIoT Market for Agriculture Vertical, By Region, 2015–2023 (USD Billion)
Table 75 Industrial IoT Market for Agriculture Vertical, By Device & Technology, 2015–2023 (USD Billion)
Table 76 Industrial IoT Market for Sensor for Agriculture Vertical, By Region, 2015–2023 (USD Million)
Table 77 Industrial IoT Market for Yield Monitor for Agriculture Vertical, By Region, 2015–2023 (USD Million)
Table 78 Industrial IoT Market for Guidance & Steering for Agriculture Vertical, By Region, 2015–2023 (USD Million)
Table 79 IIoT Market for Gps/Gnss for Agriculture Vertical, By Region, 2015–2023 (USD Million)
Table 80 Industrial IoT Market for Flow & Application Control Device for Agriculture Vertical, By Region, 2015–2023 (USD Million)
Table 81 Industrial IoT Market for Network Technology for Agriculture Vertical, By Region, 2015–2023 (USD Million)
Table 82 IIoT Market for Farm Management System for Agriculture Vertical, By Region, 2015–2023 (USD Million)
Table 83 Industrial IoT Market, By Region, 2015–2023 (USD Billion)
Table 84 Industrial IoT Market in North America, By Vertical, 2015–2023 (USD Billion)
Table 85 IIoT Market in North America, By Country, 2015–2023 (USD Billion)
Table 86 Industrial IoT Market in Europe, By Vertical, 2015–2023 (USD Billion)
Table 87 IIoT Market in Europe, By Geography, 2015–2023 (USD Billion)
Table 88 Industrial IoT Market in APAC, By Vertical, 2015–2023 (USD Billion)
Table 89 IIoT Market in APAC, By Geography, 2015–2023 (USD Billion)
Table 90 Industrial IoT Market in RoW, By Vertical, 2015–2023 (USD Billion)
Table 91 IIoT Market in RoW, By Region, 2015–2023 (USD Billion)
Table 92 Market Ranking, 2017
Table 93 Product Launches and Developments, 2015–2017
Table 94 Contracts, Partnerships, Collaborations, and Agreements, 2015–2017
Table 95 Mergers & Acquisitions, 2015–2017
Table 96 Expansions, 2015–2017


List of Figures (56 Figures)

Figure 1 Exhaustive Research Consideration for IoT Ecosystem
Figure 2 IIoT Market: Process Flow of Market Size Estimation
Figure 3 Research Design: IIoT Market
Figure 4 Market Size Estimation Meth0dology: Bottom-Up Approach
Figure 5 Market Size Estimation Meth0dology: Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Manufacturing Vertical to Hold the Largest Size of the IIoT Market Throughout the Forecast Period
Figure 8 IIoT Market for Healthcare and Agriculture Verticals to Grow at A High CAGR During the Forecast Period
Figure 9 Networking Technology to Hold the Largest Size of the IIoT Market Throughout the Forecast Period
Figure 10 IIoT Market for Farm Management System to Grow at the Highest CAGR Between 2018 and 2023
Figure 11 APAC Held the Largest Share of the IIoT Market in 2017
Figure 12 Technological Advancements in Semiconductor and Electronics Devices to Provide Growth Opportunities for the IIoT Market
Figure 13 Manufacturing Vertical to Hold the Largest Share of the IIoT Market Throughout the Forecast Period
Figure 14 China Held the Largest Share of the IIoT Market in APAC in 2017
Figure 15 US Accounted for the Largest Share of the IIoT Market in 2017
Figure 16 Networking Technologies to Hold the Largest Size of the IIoT Market in 2018
Figure 17 Technological Advancements in Semiconductor and Electronics Devices to Drive the Growth of the IIoT Market
Figure 18 Advancements in Computing Power
Figure 19 Adoption of Ipv6 Across Various Regions
Figure 20 Value Chain Analysis: IIoT Market
Figure 21 Device & Technology to Hold A Larger Size of the IIoT Market Throughout the Forecast Period
Figure 22 Networking Technology to Hold the Largest Size of the IIoT Market, By Technology, Throughout the Forecast Period
Figure 23 Industrial IoT Market, By Software, 2018 vs 2023
Figure 24 Manufacturing Vertical to Hold the Largest Size of the IIoT Market Throughout the Forecast Period
Figure 25 Industrial Robotics to Hold the Largest Size of the IIoT Market for the Manufacturing Vertical Throughout the Forecast Period
Figure 26 APAC to Hold the Largest Size of the IIoT Market for the Energy Vertical By 2023
Figure 27 DCS to Hold the Largest Size of the IIoT Market for the Oil & Gas Vertical Throughout the Forecast Period
Figure 28 APAC to Hold the Largest Size of the IIoT Market for the Metals and Mining Vertical Throughout the Forecast Period
Figure 29 Networking Technology to Hold the Largest Size of the IIoT Market for the Healthcare Vertical Throughout the Forecast Period
Figure 30 North America to Hold the Largest Size of the IIoT Market for the Retail Vertical in 2018
Figure 31 Camera to Hold the Largest Size of the Industrial IoT Market for the Transportation Vertical, By Technology, During the Forecast Period
Figure 32 North America to Hold the Largest Size of the Industrial IoT Market for the Agriculture Vertical in 2018
Figure 33 Geographic Snapshot of the IIoT Market, 2017
Figure 34 Attractive Growth Opportunities for the IIoT Market for Various Verticals in 4 Major Regions
Figure 35 Snapshot of the IIoT Market in North America, 2017
Figure 36 Snapshot of the Market in Europe, 2017
Figure 37 Snapshot of the Industrial IoT Market in APAC, 2017
Figure 38 Snapshot of the Industrial IoT Market in RoW, 2017
Figure 39 Growth Strategies Adopted By Companies in the IIoT Market Between 2015 and 2017
Figure 40 Battle for Market Share: Agreements, Contracts, Collaborations, and Partnerships Emerged as Key Strategies Adopted By Market Players Between 2015 and 2017
Figure 41 Cisco: Company Snapshot
Figure 42 GE: Company Snapshot
Figure 43 Honeywell: Company Snapshot
Figure 44 Intel: Company Snapshot
Figure 45 IBM: Company Snapshot
Figure 46 ABB: Company Snapshot
Figure 47 Rockwell Automation: Company Snapshot
Figure 48 Siemens: Company Snapshot
Figure 49 Huawei: Company Snapshot
Figure 50 Bosch: Company Snapshot
Figure 51 Kuka: Company Snapshot
Figure 52 Texas Instruments: Company Snapshot
Figure 53 Dassault Systemes: Company Snapshot
Figure 54 PTC: Company Snapshot
Figure 55 ARM: Company Snapshot
Figure 56 NEC: Company Snapshot

The IIoT market is expected to grow from USD 64.00 billion in 2018 to USD 91.40 billion by 2023, at a CAGR of 7.39% during the forecast period. The major factors driving the growth of the IIoT market include technological advancements in semiconductor and electronics devices, availability of automation solutions, improved data rates, and coverage of communication technologies; increasing use of cloud computing platform; growing adoption of IPv6; and support from governments worldwide pertaining to the adoption of IIoT solutions.

The IIoT market for smart beacons is expected to grow at the highest CAGR between 2018 and 2023. Increasing demand for automation technologies in the retail vertical to enable faster checkout and enhance overall customer experience is driving the growth of the market for smart beacons.

The agriculture vertical is also a major beneficiary of IIoT solutions, owing to the availability of precision farming solutions. Initial investments in precision farming are very high; however, when carried out on a large scale, precision farming enables farmers to produce greater yield and make efficient use of the available natural resources. The IIoT market for the agriculture vertical is likely to grow at the highest CAGR between 2018 and 2023.

Governments in countries such as Germany, the UK, France, the US, China, and India have taken several initiatives for encouraging manufacturers to increase their investments for the adoption of IIoT solutions. The manufacturing vertical is expected to hold the largest share of the IIoT market in 2018.

North America is expected to hold the largest share of the IIoT market in 2018. The market is flourishing in this region owing to various initiatives undertaken to encourage its development and implementation by large enterprises and governments in this region; also, there has been significant investments in the R&D of IoT solutions. These factors are driving the growth of the market in North America. The IIoT market in APAC is expected to grow at the highest CAGR during the forecast period. Rapid industrialization in emerging economies of APAC, such as China and India, and in Southeast Asian countries is boosting the adoption of IIoT solutions in this region.

Industrial IoT Market

To implement M2M communication in the industrial sector, machines need to have built-in components facilitating communication. In case of older factories, machinery may not be equipped with such components for data transmission; hence, these components need to be fitted externally. Some older equipment may also need alterations to retrofit these components, resulting in extra expenses to companies. This acts as a major hindrance for organizations using older machinery.

The IIoT market ecosystem comprises players such as GE (US), Cisco (US), Intel (US), ARM (Japan), and IBM (US).

GE is a leading provider of industrial equipment for sectors such as oil & gas, energy, aviation, transportation, and healthcare. The company has expanded its offerings from industrial equipment to data analytics with the development of the Predix platform. Its recent product launches are focused on this platform. Predix assists GE to remotely monitor most of its industrial systems, gather performance data, and predict their maintenance cycles and potential failures. These data will also be useful in understanding how the systems are being used in industries and in developing their improved versions. GE’s presence in a large number of industrial sectors and global markets enables the company to generate regular service revenue streams from its asset monitoring and predictive analytical tools. The company is taking several steps to project its Predix platform as an ideal industrial solution. It has acquired Wurldtech Security Technologies (Canada) to secure Predix and make it available on the cloud to encourage developers to create new applications for the platform.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Available Customizations Title

Client Customization Problem Statement :

Internet of Things Market on the basis of communication protocols & wireless technologies

Solution Provided:

In this customization, MnM had provided Internet of Things market segmented on the basis of communicati....

In this customization, MnM had provided Internet of Things market segmented on the basis of communication protocols & wireless technologies in excel format with the following segmentation:

  • Communication Protocols & Wired Technologies
  • Wireless Technologies

These applications are further sub-divided into the subsequent sub-applications namely:

Communication Protocols & Wired Technologies

  • DALI
  • KNX
  • Ethernet
  • Lonworks
  • BACnet
  • PLC

Wireless technologies

  • Zigbee
  • Bluetooth
  • EnOcean
  • Z-Wave
  • WiFi
  • RFID
less...
Request Customization
 more...
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

Please visit https://www.marketsandmarkets.com/knowledge-process-outsourcing-services.asp to specify your custom Research Requirement


-
Request for FREE Sample of this report Send Request