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 Jun, 2018, by marketsandmarkets.com
Updated date -

The industrial IoT market size is projected to reach USD 91.4 billion by 2023 from an estimation of USD 64.0 billion in 2018, at a CAGR of 7.4%.

Industrial IoT Market

Selected Market Dynamics in Industrial IoT Market

Increasing use of cloud computing platform

Innovation in cloud platform has offered new business capabilities and opportunities to enterprises. Since then, there has been a gradual shift in the architectural landscape of business models and its underlying IT network infrastructure. Cloud-based alternatives are now being preferred by industries over machine-centric or PC-centric models. The emergence of mobile computing technologies, proliferation of internet-connected devices, and increasing use of cloud computing platforms have given rise to IoT and Industrial IOT Market.

Mainstreaming of cloud computing has offered the much needed flexibility to businesses to scale and grow at a global level. Networks have become capable of processing more complex data, enabling the creation of interconnected systems. As a huge volume of data can be processed in the cloud, the design of devices can be simpler at the users’ end and thus, IoT-based complex systems can be implemented in a simple, usable form.

Cloud computing solutions have tremendous potential to shape a country‘s economy and expand its industrial capabilities. Realizing this potential, several countries have taken initiatives to deploy a secure cloud infrastructure. Japan is among the most prominent countries to provide world-class cloud infrastructure. Other countries that provide excellent cloud infrastructure include Australia, the US, and Germany.

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 Industrial IOT 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.

Based on software, Manufacturing Execution System (MES) to hold the larger market share of industrial IoT market

MES is a controlling system used to monitor and manage work in factories. In the current market scenario, there is a need for solutions that can be customized according to customer requirements and quickly adapt themselves to production processes on a real-time basis. MES helps production plants with materials, orders, and production management functionalities to reduce costs and improve efficiency.

A few companies that provide MES are GE (US), Dassault Systθmes (France), and Siemens (Germany). Siemens provides an MES solution called SIMATIC IT. It is a unique MES solution that ensures high production quality and also helps lower costs associated with production.

Industrial IoT market for manufacturing vertical is expected to hold the larger shareholder of this market in coming years

The global manufacturing vertical is transforming with the introduction of new approaches and technologies, such as smart factories, cyber-physical systems, and intelligent robotics. Moreover, governments in countries such as Germany, the UK, France, the US, China, and India have taken several initiatives for the development of their manufacturing verticals. These factors are encouraging manufacturers to increase their investments for the adoption of industrial IOT solutions.

Industrial IoT Market

Industrial IOT Market in APAC to account for the largest market size

Commercialization of IIoT-related applications is in the introductory stages in the developing economies in APAC. However, countries such as China, Japan, South Korea, and India have undertaken numerous initiatives to encourage the implementation of IIoT in the region. The IIoT market in APAC is expected to grow at the highest CAGR during the forecast period. Dense population and growing per capita income, along with large-scale industrialization and urbanization, are some of the major factors driving the growth of the Industrial IoT market in APAC. A few major companies in APAC that offer IoT solutions are Huawei (China), NEC (Japan), and Xerafy (Hong Kong), which is an emerging company.

Key Market Players

Cisco (US), GE (US), ChargePoint (US), Honeywell (US), Intel (US), IBM (US), ABB (Switzerland), Rockwell Automation (US), Siemens (Germany), Huawei (China), Bosch (Germany), Kuka (Germany), Texas Instruments (US), Dassault Systθmes (France), PTC (US), ARM (UK), and NEC (Japan) are a few major players in the industrial IoT market.

Report Scope

Report Metric

Details

Market size available for years

2018–2023

Base year considered

2017

Forecast period

2018–2023

Forecast units

Value, USD billion

Segments covered

Technology, Software, Vertical and Region

Regions covered

North America, Europe, APAC, and RoW

Companies covered

Cisco (US), GE (US), ChargePoint (US), Honeywell (US), Intel (US), IBM (US), ABB (Switzerland), Rockwell Automation (US), Siemens (Germany), Huawei (China), Bosch (Germany), Kuka (Germany), Texas Instruments (US), Dassault Systθmes (France), PTC (US), ARM (UK), and NEC (Japan) are a few major players in the industrial IoT market.

Industrial IoT market segmentation:

In this report, the market is segmented into the following categories:

Industrial IoT Market, by Technology:

  • Sensor
  • RFID
  • Industrial Robotics
  • Distribution Control System (DCS)
  • Condition Monitoring
  • Smart Meter
  • Electronic Shelf Lable (ESL)
  • Camera
  • Smart Beacon
  • Interface Board
  • Yield Monitor
  • Guidance & Steering
  • GPS/GNSS
  • Flow and Application Control Device
  • Networking Technologies (Wired Technologies, Wireless Technologies)

Industrial IoT Market, by Software:

  • Product Lifecycle Management   
  • Manufacturing Execution System
  • Scada Systems 
  • Outage Management System       
  • Distribution Management System               
  • Remote Patient Monitoring System            
  • Retail Management Software       
  • Visualization Software    
  • Transit Management System        
  • Farm Management System           

Industrial IoT Market, by Vertical:

  • Manufacturing (Automotive, Machinery, Food & Beverages, Chemicals & Materials, Electrical & Electronics, Pharmaceuticals)
  • Energy (Smart Grid)
  • Oil & Gas
  • Metals & Mining               
  • Healthcare         
  • Retail  
  • Transportation
  • Agriculture

Industrial IoT market, by Region:

  • North America
  • Europe
  • APAC
  • RoW

Critical Questions the Report Answers:

  • What are emerging application areas that are expected to adopt industrial IoT?
  • Which type of technology used in industrial IoT is growing at the highest rate?
  • What type of software is the most opportunistic for Industrial IoT manufacturers in the coming years?

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

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 Industrial IoT Market Between 2018 and 2023
    4.2 Market: Comparison of Growth Pattern of Verticals
    4.3 Market in APAC, 2017
    4.4 Market, By Geography, 2017
    4.5 Market, By Technology, 2018 & 2023

5 Industrial IOT 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 Industrial IoT 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 Industrial IoT 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 Industrial IoT 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 Market, By Device & Technology, 2015–2023 (USD Billion)
Table 5 Market, By Software, 2015–2023 (USD Billion)
Table 6 Market, By Vertical, 2015–2023 (USD Billion)
Table 7 Market for Manufacturing Vertical, 2015–2023 (USD Billion)
Table 8 IIoT Market for Manufacturing Vertical, By Region, 2015–2023 (USD Billion
Table 9 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 IIoT 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 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 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 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 Market for Scada for Manufacturing Vertical, By Region, 2015–2023 (USD Billion)
Table 20 Market for Energy Vertical, 2015–2023 (USD Billion)
Table 21 Market for Energy Vertical, By Region, 2015–2023 (USD Billion)
Table 22 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 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 IIoT Market for Networking Technology for Energy Vertical, By Region, 2015–2023 (USD Million)
Table 27 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 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 IIoT Market for Oil & Gas Vertical, By Device & Technology, 2015–2023 (USD Billion)
Table 32 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 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 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 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 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 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 IIoT Market for Scada for Metals & Mining, By Region, 2015–2023 (USD Million)
Table 46 Market for Healthcare Vertical, 2015–2023 (USD Billion)
Table 47 IIoT Market for Healthcare Vertical, By Region, 2015–2023 (USD Billion)
Table 48 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 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 IIoT Market for Retail Vertical, 2015–2023 (USD Billion)
Table 54 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 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 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 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 Market for Retail Management Software for Retail Vertical, By Region, 2015–2023 (USD Billion)
Table 63 Industrial IoT Market for Transportation Vertical, 2015–2023 (USD Billion)
Table 64 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 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 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 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 Market for Transit Management System for Transportation Vertical, By Region, 2015–2023 (USD Million)
Table 73 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 Market for Sensor for Agriculture Vertical, By Region, 2015–2023 (USD Million)
Table 77 Market for Yield Monitor for Agriculture Vertical, By Region, 2015–2023 (USD Million)
Table 78 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 Market for Flow & Application Control Device for Agriculture Vertical, By Region, 2015–2023 (USD Million)
Table 81 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 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 Market in Europe, By Vertical, 2015–2023 (USD Billion)
Table 87 IIoT Market in Europe, By Geography, 2015–2023 (USD Billion)
Table 88 Market in APAC, By Vertical, 2015–2023 (USD Billion)
Table 89 IIoT Market in APAC, By Geography, 2015–2023 (USD Billion)
Table 90 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 Industrial IoT Market: Process Flow of Market Size Estimation
Figure 3 Research Design: IIoT Market
Figure 4 IIoT 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 Market Throughout the Forecast Period
Figure 8 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 Market for Farm Management System to Grow at the Highest CAGR Between 2018 and 2023
Figure 11 APAC Held the Largest Share of the Industrial IoT 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 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 Industrial IoT 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 Market
Figure 18 Advancements in Computing Power
Figure 19 Adoption of Ipv6 Across Various Regions
Figure 20 Value Chain Analysis: Industrial IoT Market
Figure 21 Device & Technology to Hold A Larger Size of the 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 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 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 Market for the Healthcare Vertical Throughout the Forecast Period
Figure 30 North America to Hold the Largest Size of the 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 Market for the Agriculture Vertical in 2018
Figure 33 Geographic Snapshot of the IIoT Market, 2017
Figure 34 Attractive Growth Opportunities for the 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 Market in RoW, 2017
Figure 39 Growth Strategies Adopted By Companies in the 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 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
Jun, 2018
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