The global industrial internet of things market is anticipated to touch USD 751.3 million by 2023, as per an insightful report by Market Research Future (MRFR). It is expected to expand at a 23.88% CAGR during the assessment period (2017-2023). Industrial internet of things (IIoT) is an array of connected devices used in expediting the production process in industrial sectors.
It can be used in maximizing efficiency and minimizing wastage of resources. Various industry leaders are implementing IIoT in their processes to expound their current businesses. Government policies such as Make in India, Industrial Value Chain Initiative Forum, and Industry 4.0 can create awareness in industries and influence its adoption rates.
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The most distinguished players of the global industrial internet of things market are Intel Corporation (U.S.), General Electric Company (U.S.), Rockwell Automation Inc. (U.S.), International Business Machine (IBM), Cisco Systems Inc. (U.S.), Corporation (U.S.), AT&T Inc. (U.S.), Accenture PLC (Ireland), Siemens AG (Munich), Huawei Technology Co. Ltd. (China), and Robert Bosch GmbH (Germany).
By component, the industrial internet of things market has been segmented into hardware, software, and services. Hardware is sub-segmented into industrial robotics, flow and application control devices, distributed control system, camera systems, sensors & RFID, 3D printing, smart meters, and others. Similarly, software is sub-segmented into distribution management system (DMS), supervisory control and data acquisition (SCADA) system, retail management software, product lifecycle management (PLM) system, manufacturing execution system (MES), and others. Services are segmented into managed and professional.
the basis of region, the worldwide Industrial Internet of Things (IoT) Market can be classified into North America, Europe, The Middle East and Africa, and Asia Pacific (APAC), with respective country-level market sizing.
By deployment, the market is segmented into on-premise, on-cloud, and hybrid. By connectivity, the market is segmented into wired and wireless. Key market end-users include oil & gas, energy & power, manufacture, automotive, retail, healthcare, IT & telecommunication, and others.
Industrial IoT Market to Reach USD 750 Billion During Forecast Period 2018-2023 :
The global industrial internet of things (IIoT) market is estimated to accrue USD 750 Billion during the forecast period (2018-2023), affirms Market Research Future (MRFR). The industrial internet of things (IIoT) can be comprehended as a subset of the more extensive internet of things (IoT), with the software and technology able to expedite the runtime of various processes. IIoT is based on the idea of broad-spectrum internet connectivity to specific business processes that make physical products for business sectors.
Pune, India, July, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Industrial Internet of Things (IoT) Market Research Report.
LIST OF TABLES
TABLE 1 LIST OF ASSUMPTIONS
TABLE 2 GLOBAL INDUSTRIAL IOT MARKET, BY COMPONENT, 2017-2023 (USD BILLION)
TABLE 3 GLOBAL INDUSTRIAL IOT MARKET, BY HARDWARE, 2017-2023 (USD BILLION)
TABLE 4 GLOBAL INDUSTRIAL IOT MARKET, BY SOFTWARE 2017-2023 (USD BILLION)
TABLE 5 GLOBAL INDUSTRIAL IOT MARKET, BY DEPLOYMENT, 2017-2023 (USD BILLION)
LIST OF FIGURES
FIGURE 1 GLOBAL INDUSTRIAL IOT MARKET: MARKET STRUCTURE
FIGURE 2 RESEARCH PROCESS OF MRFR
FIGURE 3 TOP DOWN & BOTTOM-UP APPROACH
FIGURE 4 DROC ANALYSIS OF GLOBAL INDUSTRIAL IOT MARKET
FIGURE 5 GLOBAL INDUSTRIAL IOT MARKET: SUPPLY CHAIN PROCESS
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