Industrial IoT Market

Industrial IoT 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

Report Code: SE 2909 Nov, 2019, by marketsandmarkets.com
Updated date -

The Industrial IoT Market to grow from USD 68.8 billion in 2019 to USD 98.2 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period (2019–2024).

Industrial IoT Market

The major factors that are expected to be driving the IIoT market are technological advancement in semiconductor and electronics devices and increasing use cloud computing platforms. The objective of the report is to define, describe, and forecast the IIoT market size based on technology, software, connectivity, vertical, and region.

Industrial IoT Market by Device & Technology, smart beacons to grow at the highest CAGR during the forecast period

The Industrial IoT market for smart beacons is expected to grow at the highest CAGR during forecast period. 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.

Industrial IoT Market by Software, the farm management systems to record the highest CAGR during the forecast period

The Industrial IoT market for farm management systems, by software, is expected to register a higher CAGR from 2019 to 2024. These systems are expected to hold a major market share in the future, given the increasing adoption of these systems by farmers and the growing availability of information technology (IT) solutions.

Industrial IoT Market

Industrial IoT Market in APAC to grow at the highest CAGR during forecast period

The industrial iot market in APAC is projected to grow at the highest CAGR from 2019 to 2024. APAC is a major manufacturing hub; it is also emerging as an important hub for the metals and mining vertical. Infrastructural and industrial development in emerging economies like China, India, and South-East Asia is contributing toward the development IIoT market in this region.

Industrial IoT Market Dynamics

Driver: Technological advancements in semiconductor and electronics devices

Physical, chemical, and biological sensors are rapidly evolving into autonomous analytical devices that perform sophisticated analytical processes, using nanostructured materials or nanomaterials, such as polymers and composites with good conductance. This has resulted in the development of additional types of sensors that are smaller, cheaper, and faster. These sensors consume less power and have less overhead impact on the equipment being sensed. Current generation sensors have intelligent functionalities that enable them to respond quickly to inputs and provide better decision-making capabilities to the systems with which they are connected. These smart sensors have wide-scale application in certain processes such as predictive maintenance. Some sensors are capable of operating in extreme environments, especially in process industries, and can transmit signals over long distances. These innovative sensors are being complimented by advancements in computing power of microprocessors and microcontrollers. The speed of processors and the overall data processing power of computers are doubling in almost every two years, in accordance with Moore’s Law. These enhanced data processing capabilities of computers are becoming vital for analyzing data collected from numerous sensors installed in plants. The following figure illustrates the advancements in computing power of devices and predicted rise in processing power.

Restraint: Lack of standardization

Several smart internet-connected devices are currently available in the market. However, a common protocol and communication standard is required for these devices to be able to communicate with each other, share data, or form an intelligent network. Interoperability and easy exchange of information among connected devices are of utmost importance for the further growth of IIoT. The current technical and market scenarios pertaining to IIoT do not seem to provide a promising architectural solution or a universal standard to solve the interoperability issue. An urgent requirement for a universal standard in either connectivity type, data formatting, or protocol is likely to arise owing to the fact that IIoT is not just a network of internet-connected machines, but of machines, humans, and so on. Any universal standard seeking to encompass such diverse IoT applications would have to be scalable. To achieve this, efforts would be required from enterprises, organizations, and developers.

Currently, there are more than 10 major players in the IIoT market, and these players have formed an alliance or a committee with other major or minor players operating in the market. Each of these alliances wants their technology or communication standard to be established as the only standard for the overall IIoT landscape. Thus, the non-standardization of communication protocols is restricting the growth of the IIoT market.

Opportunity: Innovative cross domain application and development of comprehensive system solutions

IoT offers exponential growth opportunities for organizations and businesses, equipping them to capture and adapt to IoT trends and technological innovations. To realize the full potential of IoT, cross-domain expertise and collaborations are required. The ability or capacity of organizations to achieve success in the IoT market space would depend on cross-sector collaborations and approaches to business models. For instance, Nexcom (Taiwan) introduced new IoT applications—IoT robotics, Industry 4.0, connected cars, responsive stores, and security in industry IoT.

Nexcom opened six different market divisions within the IoT ecosystem. This allows the company to target a range of applications in the IoT space. Electronic devices are becoming smarter with every generation. Features of current mobile devices are superior to that of their predecessors. Development of smart devices is the result of improved components that make up a device. This implies more complexity to deliver the required performance. All these requirements put pressure on IoT companies to deliver more chips that can meet customer expectations. Customers of semiconductor companies, including electronic gadget manufacturers, are looking for vendors that can provide them with complete system solutions. Companies that can provide integrated solutions to customers would be in a strong position to grow in the current market scenario.

Challenge:  Data Security and privacy

The Industrial IoT market has exponential growth potential; however, maintaining data security and privacy is a key challenge that market players may face in the coming years. As the number of sensors monitoring different things is growing, data generated by these sensors are also likely to increase in volume; this would help organizations handling data gain more knowledge about their competitors’ market positions. Companies can misuse data to automatically determine their rivals’ business strategies and production schedules, and to hack and take control over their machines, eventually shutting them down. From an industry standpoint, it is a major concern. To mitigate this security challenge across consumer bases as well as industrial sectors, companies such as Cisco Systems (US) and McAfee Inc. (US) are taking necessary steps. McAfee, a computer security software company, has already outlined its plan to secure IoT; Cisco has issued an IoT security grand challenge; with this, the company intends to encourage innovation in the area of IoT security by inviting proposals for intelligent cybersecurity solutions for the real world. For the past few decades, supervisory control and data acquisition (SCADA) system have been deployed across industries for improving operation capability. Industries such as oil & gas, power/smart grid, agriculture, and utilities have implemented these systems and networks to collect data and automate processes for efficient operations. SCADA systems, however, have major implication when it comes to security, as these systems are outside the firewall of enterprise IT networks, making them vulnerable to security threats not only to assets but to the communication link itself. To overcome such challenges, improved and newer SCADA systems use Ethernet devices that are more secure, with features such as VPN, secure sockets, encryption, and dedicated login on devices.

Industrial IoT Market

Scope of the Industrial IoT Market Report

Report Metric

Details

Report Name

Industrial IoT Market

Market size available for years

2016–2024

Base year considered

2018

Forecast period

2019–2024

Forecast units

Billion (USD)

Segments covered

Device & Technology, Software, Connectivity, Vertical, and Region

Geographies covered

North America, Europe, APAC, and RoW

Companies covered

Cisco (US), GE (US), Honeywell (US), Intel(US), IBM(US), ABB (Switzerland), Rockwell Automation (US), Siemens (Germany), Huawei (China), Bosch (Germany), KUKA AG ( Germany), Texas Instruments (US), Dassault Systemes (France), PTC (US), ARM(UK), and NEC (Japan)

The research report categorizes the Industrial IoT Market to forecast the revenues and analyze the trends in each of the following sub-segments:

Industrial IoT Market 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
    • Multifunctional Board
    • Vehicle Detection Board
    • Communication Board
    • Flow & Application Control Device
    • Networking Technology

Industrial IoT Market By Connectivity :

  • Wired technologies
    • Ethernet
    • Modbus
    • Profinet
    • Foundation Fieldbus
  • Wireless Technologies
    • Wi-Fi
    • Zigbee
    • Bluetooth Technologies
    • Cellular Technologies
    • Satellite Technologies
  • Fieldbus Technologies
    • Profibus
    • Modbus-RTU
    • CC-Link
    • Others

Industrial IoT Market By Software:

  • PLM
  • MES
  • SCADA
  • Outage Management System
  • Distribution Management System
  • Visualization Software
  • Traffic  Management System
    • Intelligent Signaling
    • Video Analytics
    • Incident Detection
    • Route Scheduling Guidance
    • Communication Solutions
  •  Remote Patient Monitoring
  • Farm Management System

Industrial IoT Market By Vertical:

  • Manufacturing
    • Automotive
    • Machinery
    • Food and Beverages
    • Chemicals and Materials
    • Electricals and Electronics
    • Pharmaceuticals
  • Utilities
    • Smart Grid
    • Smart Water Management
  • Oil &Gas
    • Upstream
    • Midstream
      • Connecting Pipeline network
      • Leak detection
      • Storage
      • Safety and Alarms
    • Downstream
      • Refinery Crude Oil Facility
      • Facility Management
      • Yield Others
  • Metal & Mining
  • Healthcare
    • Electronic Healthcare Record
    • Remote Health Monitoring
    • Connected Healthcare Facilities
    • Warehouse Capacity Optimization
    • Centralized Patient & Hospital System Monitoring     
  • Retail
  • Transportation
    • Logistics
    • Asset & Freight Tracking
    • Remote Fleet Monitoring
    • Warehousing Capacity Optimization
    • Route Optimization
    • Transportation Infrastructure
    • Intelligent Traffic management
    • Parking and Ticketing Management
    • Others
  • Agriculture
    • Farm Vehicle Tracking
    • Smart Water Management
    • Livestock Monitoring
    • Storage Monitoring
    • Precision Monitoring
      • Plant & Soil Monitoring
      • Yield Monitoring
      • Field Mapping
      • Crop Scouting
      • Weather Tracking and Forecasting
      • Irrigation Management
      • Inventory Management
      • Others   

Industrial IoT Market 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

Key Market Players in Industrial IoT Market

Cisco (US), GE (US), ARM (UK), Rockwell Automation (US), Intel (US),  Honeywell (US), IBM (US), ABB (Switzerland), Siemens (Germany), Huawei (China), Bosch (Germany), KUKA AG ( Germany), Texas Instruments (US), Dassault Systemes (France), PTC (US), NEC (Japan), Synopsys Inc. (US), Atmel (Microchip) (US), Broadcom Corporation (US), SAP (Germany), Sight Machine (US), NXP Semiconductor (Netherlands), Schneider Electric (France), Bright Wolf (US), On Semiconductor (US), Micron Technology (US), STMicroelectronics (Switzerland), Analog Devices Inc., Silicon Labs(US), Digi (US), C3 IoT (US), Johnson Controls (US), Sigfox (Sweden), AT&T (US), Microsemi Corporation (US), Sierra Wireless (France), Samsung Electronics (South Korea), Bastille Networks (US), Trend Micro (Japan), Mocana (US), and Advantech (Taiwan).

Cisco is one of the leading IIoT solution provider. IoT is the center of Cisco’s business strategy. Cisco’s IoT business strategy combines the company’s cloud strategy with datacenter analytics, mobile, collaboration endpoints, and connected security. The focus of its business is on sustaining and extending its leadership position in routing and switching by investing more in ongoing innovations and expanding in new markets such as smart grids, smart connected communities, virtual healthcare, education, media solutions, and sports and entertainment. The company focuses on investing in its flagship businesses and compliments these businesses by making strategic acquisitions in next-generation growth opportunities.

Critical questions the report answers:

  • What are the upcoming trends for the IIoT market?
  • Which segment provides the most opportunity for growth?
  • Who are the leading vendors operating in this market?
  • What are the opportunities for new market entrants?

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

Table of Contents 
 
1 Introduction (Page No. - 22)
  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. - 25)
  2.1 Research Data
      Figure 1 Exhaustive Research Consideration for IOT Ecosystem
      Table 1 Key Industry Alliances And Consortiums for Internet of Things
      Figure 2 IIoT Market: Process Flow of Market Size Estimation
      Figure 3 Research Design: IIoT Market
      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
                    Figure 4 Market Size Estimation Meth0dology: Bottom-Up Approach
      2.2.2 Top-Down Approach
            2.2.2.1 Approach for Capturing the Market Share by Top-Down Analysis (Supply Side)
                    Figure 5 Market Size Estimation Meth0dology: Top-Down Approach
  2.3 Market Breakdown and Data Triangulation
      Figure 6 Data Triangulation
  2.4 Research Assumptions
      Table 2 Assumptions of the Research Study  

3 Executive Summary (Page No. - 35)
  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

4 Premium Insights (Page No. - 42)
  4.1 Attractive Growth Opportunities for the IIoT Market Between 2018 And 2023
      Figure 12 Technological Advancements in Semiconductor and Electronics Devices To Provide Growth Opportunities For the IIoT Market
  4.2 IIoT Market: Comparison of Growth Pattern of Verticals
      Figure 13 Manufacturing Vertical to Hold the Largest Share of the IIoT Market Throughout the Forecast Period
  4.3 IIoT Market in APAC, 2017
      Figure 14 China Held the Largest Share of the IIoT Market in APAC in 2017
  4.4 IIoT Market, By Geography, 2017
      Figure 15 Us Accounted For the Largest Share of the IIoT Market in 2017
  4.5 IIoT Market, By Technology, 2018 & 2023
      Figure 16 Networking Technologies to Hold the Largest Size of the IIoT Market in 2018

5 Market Overview (Page No. - 46)
  5.1 Introduction
  5.2 Market Dynamics
      Figure 17 Technological Advancements in Semiconductor And Electronics Devices To Drive the Growth Of The IIoT Market
      5.2.1 Drivers
            5.2.1.1 Technological Advancements in Semiconductor And Electronics Devices
                    Figure 18 Advancements in Computing Power
            5.2.1.2 Increasing Use of Cloud Computing Platform
            5.2.1.3 Standardization of Ipv6
                    Figure 19 Adoption of Ipv6 across Various Regions
            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. - 53)
  6.1 Introduction
  6.2 Value Chain Analysis
      Figure 20 Value Chain Analysis: IIoT Market
  6.3 Emerging Trends
      6.3.1 Digital Twin Technology
      6.3.2 Edge Computing Technology

7 IIoT Market, By Technology (Page No. - 55)
  7.1 Introduction
      Figure 21 Device & Technology to Hold a Larger Size Of the IIoT Market Throughout the Forecast Period
      Table 3 Industrial IOT Market, 2015–2023 (USD Billion)
      Figure 22 Networking Technology To Hold the Largest Size Of the IIoT Market, By Technology, Throughout the Forecast Period
      Table 4 Industrial IOT Market, By Device & Technology, 2015–2023 (USD Billion) 58
  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. - 69)
  8.1 Introduction
      Figure 23 Industrial IOT Market, By Software, 2018 Vs. 2023
      Table 5 IIoT Market, By Software, 2015–2023 (USD Billion)
  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. - 75)
  9.1 Introduction
      Figure 24 Manufacturing Vertical to Hold the Largest Size of the IIoT Market Throughout the Forecast Period
      Table 6 IIoT Market, By Vertical, 2015–2023 (USD Billion)
  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
            Table 7 Industrial IOT Market for Manufacturing Vertical, 2015–2023 (USD Billion) 80
            Table 8 Industrial IOT Market for Manufacturing Vertical, By Region, 2015–2023 (USD Billion 80
            Figure 25 Industrial Robotics to Hold the Largest Size of the IIoT Market For the Manufacturing Vertical Throughout the Forecast Period
            Table 9 Industrial IOT Market for Manufacturing Vertical, By Device & Technology, 2015–2023 (USD Billion)  
            Table 10 Industrial IOT 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 Industrial IOT 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 Industrial IOT 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 Industrial IOT 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 Industrial IOT 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)
  9.3 Energy
      9.3.1 Smart Grid
            Table 20 Industrial IOT Market for Energy Vertical, 2015–2023 (USD Billion) 87
            Figure 26 APAC to Hold the Largest Size of the IIoT Market for the Energy Vertical By 2023
            Table 21 Industrial IOT Market for Energy Vertical, By Region, 2015–2023 (USD Billion) 88
            Table 22 Industrial IOT Market for Energy Vertical, By Device & Technology, 2015–2023 (USD Billion)
            Table 23 Industrial IOT 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 Industrial IOT 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 Industrial IOT Market for DMS for Energy Vertical, By Region, 2015–2023 (USD Billion)
  9.4 Oil & Gas
      Table 29 Industrial IOT Market for Oil & Gas Vertical, 2015–2023 (USD Billion)
      Table 30 Industrial IOT Market for Oil & Gas Vertical, By Region, 2015–2023 (USD Billion)
      Figure 27 DCS to Hold the Largest Size Of the IIoT Market For the Oil & Gas Vertical Throughout the Forecast Period
      Table 31 Industrial IOT 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 Industrial IOT 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 Industrial IOT 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)
  9.5 Metals and Mining
      Table 37 Industrial IOT Market for Metals & Mining Vertical, 2015–2023 (USD Billion)
      Figure 28 APAC to Hold the Largest Size of the IIoT Market For the Metals And Mining Vertical Throughout the Forecast Period
      Table 38 Industrial IOT Market for Metals & Mining Vertical, By Region, 2015–2023 (USD Billion)
      Table 39 Industrial IOT 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 Industrial IOT 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 Industrial IOT Market for Condition Monitoring For Metals & Mining Vertical, By Region, 2015–2023 (USD Million)
      Table 44 Industrial IOT 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) 102
  9.6 Healthcare
      Table 46 Industrial IOT Market for Healthcare Vertical, 2015–2023 (USD Billion) 102
      Table 47 Industrial IOT Market for Healthcare Vertical, By Region, 2015–2023 (USD Billion)
      Figure 29 Networking Technology To Hold the Largest Size Of the IIoT Market For the Healthcare Vertical Throughout the Forecast Period
      Table 48 Industrial IOT Market for Healthcare Vertical, By Device & Technology, 2015–2023 (USD Billion)
      Table 49 Industrial IOT Market for Sensor for Healthcare Vertical, By Region, 2015–2023 (USD Million)
      Table 50 Industrial IOT 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 Industrial IOT Market for Remote Patient Monitoring For Healthcare Vertical, By Region, 2015–2023 (USD Billion)
  9.7 Retail
      Table 53 Industrial IOT Market for Retail Vertical, 2015–2023 (USD Billion)
      Figure 30 North America to Hold the Largest Size of the IIoT Market For the Retail Vertical in 2018
      Table 54 Industrial IOT Market for Retail Vertical, By Region, 2015–2023 (USD Billion)
      Table 55 Industrial IOT 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 Industrial IOT 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 Industrial IOT 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 Industrial IOT 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)
  9.8 Transportation
      Table 63 Industrial IOT Market for Transportation Vertical, 2015–2023 (USD Billion) 112
      Table 64 Industrial IOT Market for Transportation Vertical, By Region, 2015–2023 (USD Billion) 113
      Figure 31 Camera To Hold the Largest Size Of the Industrial IOT Market For the Transportation Vertical, By Technology, During the Forecast Period
      Table 65 Industrial IOT 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) 114
      Table 67 Industrial IOT 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 Industrial IOT 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 Industrial IOT Market for Visualization Software for Transportation Vertical, By Region, 2015–2023 (USD Million)
      Table 72 Industrial IOT Market for Transit Management System for Transportation Vertical, By Region, 2015–2023 (USD Million)
  9.9 Agriculture
      Table 73 Industrial IOT Market for Agriculture Vertical, 2015–2023 (USD Billion)
      Figure 32 North America to Hold the Largest Size Of the Industrial IOT Market For the Agriculture Vertical in 2018
      Table 74 Industrial IOT 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 Industrial IOT Market for Farm Management System for Agriculture Vertical, By Region, 2015–2023 (USD Million)

10 Geographic Analysis (Page No. - 124)
   10.1 Introduction
        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
        Table 83 Industrial IOT Market, By Region, 2015–2023 (USD Billion)
   10.2 North America
        Figure 35 Snapshot of the IIoT Market in North America, 2017
        Table 84 Industrial IOT Market in North America, By Vertical, 2015–2023 (USD Billion)
        Table 85 Industrial IOT Market in North America, By Country, 2015–2023 (USD Billion)
        10.2.1 US
        10.2.2 Canada
        10.2.3 Mexico
   10.3 Europe
        Figure 36 Snapshot of the IIoT Market in Europe, 2017
        Table 86 Industrial IOT Market in Europe, By Vertical, 2015–2023 (USD Billion) 131
        Table 87 Industrial IOT Market in Europe, By Geography, 2015–2023 (USD Billion) 132
        10.3.1 UK
        10.3.2 Germany
        10.3.3 France
        10.3.4 Rest of Europe
   10.4 Asia Pacific (APAC)
        Figure 37 Snapshot of the Industrial IOT Market in APAC, 2017
        Table 88 Industrial IOT Market in APAC, By Vertical, 2015–2023 (USD Billion)
        Table 89 Industrial IOT Market in APAC, By Geography, 2015–2023 (USD Billion)
        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)
        Figure 38 Snapshot of the Industrial IOT Market in ROW, 2017
        Table 90 Industrial IOT Market in ROW, By Vertical, 2015–2023 (USD Billion)
        Table 91 Industrial IOT Market in ROW, By Region, 2015–2023 (USD Billion)
        10.5.1 South America
        10.5.2 Middle East
        10.5.3 Africa

11 Competitive Landscape (Page No. - 140)
   11.1 Overview
        Figure 39 Growth Strategies Adopted By Companies in the IIoT Market Between 2015 And 2017
   11.2 Market Ranking Analysis
        Table 92 Market Ranking, 2017
   11.3 Competitive Situation and Trends
        Figure 40 Battle for Market Share: Agreements, Contracts, Collaborations, and Partnerships Emerged As Key Strategies Adopted By Market Players between 2015 And 2017
        11.3.1 Product Launches and Developments
        Table 93 Product Launches and Developments, 2015–2017
        11.3.2 Contracts, Partnershps, Collaborations, and Agreements
        Table 94 Contracts, Partnerships, Collaborations, and Agreements, 2015–2017
        11.3.3 Mergers & Acquisitions
        Table 95 Mergers & Acquisitions, 2015–2017
        11.3.4 Expansions
        Table 96 Expansions, 2015–2017

12 Company Profiles (Page No. - 149)
   (Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MNM View)* 
   12.1 Cisco
        Figure 41 Cisco: Company Snapshot
   12.2 GE
        Figure 42 GE: Company Snapshot
   12.3 Honeywell
        Figure 43 Honeywell: Company Snapshot
   12.4 Intel
        Figure 44 Intel: Company Snapshot
   12.5 IBM
        Figure 45 IBM: Company Snapshot
   12.6 ABB
        Figure 46 ABB: Company Snapshot
   12.7 Rockwell Automation
        Figure 47 Rockwell Automation: Company Snapshot
   12.8 Siemens
        Figure 48 Siemens: Company Snapshot
   12.9 Huawei
        Figure 49 Huawei: Company Snapshot
   12.10 Bosch
         Figure 50 Bosch: Company Snapshot
   12.11 KUKA
         Figure 51 KUKA: Company Snapshot
   12.12 Texas Instrumemts
         Figure 52 Texas Instruments: Company Snapshot
   12.13 DASSAULT SYSTEMES
         Figure 53 DASSAULT SYSTEMES: Company Snapshot
   12.14 PTC
         Figure 54 PTC: Company Snapshot
   12.15 Arm
         Figure 55 Arm: Company Snapshot
   12.16 NEC
         Figure 56 NEC: Company Snapshot

*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. - 202)
   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

The study involved 4 major activities in estimating the current size of the industrial IoT market. Exhaustive secondary research was done to collect information on the market, the peer markets, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

Secondary sources referred to in this research study include corporate filings (such as annual reports, investor presentations, and financial statements); trade, business, and professional associations; white papers, industrial IoT-related journals, IEST publications; directories; and databases. The secondary data has been collected and analyzed to arrive at the overall market size estimations, which has been further validated by primary research.

Primary Research

In the primary research process, various primary sources from both supply and demand sides have been interviewed to obtain qualitative and quantitative information relevant to this report. Extensive primary research has been conducted after understanding and analyzing the industrial IoT market through secondary research. Several primary interviews have been conducted with key opinion leaders from both demand- and supply-side vendors across 4 regions: North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). RoW comprises Middle East and Africa. Approximately 25% of the primary interviews have been conducted with the demand side and 75% with the supply side. This primary data has been collected mainly through telephonic interviews, which accounted for 80% of the total primary interviews. Besides, questionnaires and emails were also used to collect the data.

Industrial IoT Market

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

Market Size Estimation

Both top-down and bottom-up approaches were implemented to estimate and validate the total size of the industrial IoT market. These methods were also used extensively to estimate the size of the markets based on various subsegments. The research methodology used to estimate the market size includes the following steps:

  • The key players in the industry and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from the demand and supply sides across different end-use applications.

Study Objectives

  • To describe and forecast the industrial IoT market, in terms of value, segmented on the basis of technology, software, vertical, and region
  • To describe and forecast the market size with respect to 4 main regions, namely, North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding the major factors such as drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and their contribution to the overall market
  • To analyze opportunities in the market for stakeholders and provide a detailed competitive landscape of the market
  • To strategically profile the key players in the market and comprehensively analyze their market ranking and core competencies2
  • To analyze competitive developments such as product launches/developments, partnerships, expansions, and Research & Development (R&D) activities carried out by players in the Industrial IoT market

Available Customizations

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

Regional Analysis

  • Country-wise breakdown for different segments (By Technology, Software, Vertical) in North America, Europe, Asia Pacific, and RoW

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Report Code
SE 2909
Published ON
Nov, 2019
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Industrial IoT Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
CUSTOMIZED WORKSHOP REQUEST
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
ONLINE CHAT
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
© MarketsandMarkets Research Private Ltd. All rights reserved
...

Digital Virtual Assistant - MarketsandMarkets

Home