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Industrial internet of Thing

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Industrial Internet of Things Market report categorizes the global market by Services, Solutions , Platform Type, by Verticals and Geography - Global Forecast to 2025
Industrial Internet of Things Market- Global Forecast to 2025
The industrial internet of things is a term used to describe the interconnectivity of industrial
processes and manufacturing equipment by adoption of IOT technology. The adoption of
sensors in industries have given the birth to industrial IOT market. Sensors help convert
information from analog to digital. Data networking and computing power have increased the
demand for sensors in the automation industry. Continuous development of sensors
technology and adoption of data, computing, and connectivity technology, analytics and
artificial intelligent, human machine interaction, and digitalization are major factors driving
growth to the industrial IOT market​.
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Industrial Internet of Things Market Taxonomy
On the basis of service, the global industrial internet of things market is segmented into:
● Professional services
● Managed Services
The managed service segment held the dominant position in 2016 and is projected to
maintain its dominance throughout the forecast period. Increasing government initiatives
towards digitalization and increasing government investments to boost the adoption of IOT
technology in various industries such as utilities and manufacturing are expected to drive
growth of the IOT market. The professional services segment is expected exhibit the highest
CAGR over the forecast period.
On the basis of solution, the global industrial internet of things market is segmented into:
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Real-Time Streaming Analytics
Security
Data Management
Remote Monitoring
Network Bandwidth Management
On the basis of platform type, the global industrial internet of things market is segmented
into:
● Device Management
● Application Management
● Network Management
On the basis of verticals, the global industrial internet of things market is segmented into:
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Agriculture
Manufacturing
Automotive & machinery
Food and Beverage
Chemicals and Materials
Electronics and Utilities
Healthcare and Pharmaceuticals
Metals and Mining
Oil and Gas
Retail
Transportation
Others
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The manufacturing segment held a dominant position in 2016. This segment is projected to
maintain its dominance throughout the forecast period. The high adoption of wireless
connectivity, sensors, and software solutions help create communication networks using IP
connectivity. This in turn, helps reduce the production cost and time.
Industrial Internet of Things Market Outlook – Asia Pacific holds significant market share
On the basis of geography, the global industrial internet of things market is segmented into
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North
America holds a dominant position in the global industrial internet of things market and is
projected to retain its dominance throughout the forecast period. Growing digitalization and
high adoption of IOT solutions by manufacturing and automation industries have contributed
to growth of the market in North America. Similarly, the Asia Pacific is projected to exhibit
the highest CAGR over the forecast period. India, china, Japan, and South Korea are some of
the major countries that help drive growth of the market for IOT in the Asia Pacific region.
Dense population, increasing disposable income, and large scale industrialization in the
region are boosting growth of the market. In addition to this, the increasing adoption of
digitalization by various industries to reduce the production time and operating costs also
create a conducive environment for growth of the industrial IOT market in Asia Pacific.
Key Players in the Global Industrial Internet of Things Market
ABB, ARM Ltd., Cisco Systems, Inc., Dassault Systèmes, General Electric, Honeywell
International Inc., Huawei Technology Co., Ltd., Intel Corporation, Rockwell Automation,
Inc., and Texas Instruments Inc. are some of the major players in the global industrial internet
of things market.
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Author
apeksha motghare
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