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Industrial Internet of Things

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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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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.
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
apeksha motghare533   documents Email
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