The market research report segments the Industrial internet of things market based on industry vertical into 6 major industries comprising manufacturing, transportation, healthcare, retail, oil and gas along with, energy and power.
Industrial IoT Market by Technology (Wired, Wireless), Components (Sensors, Memory & Processors, Networking Components, RFID & others), Industry Verticals (Manufacturing, Transportation, Retail, Healthcare & others), & Geography - Global Forecast to 2020
The Industrial IoT market size was worth $181.29 Billion in 2013 that is expected to reach $319.62 Billion at a CAGR of 8.15% from 2014 to 2020. Geographical analysis covers Americas, Europe, Asia-Pacific, and ROW.
Each region is further segmented by different countries.
Industrial IoT market is in the nascent stage and shows a great potential across different industry sectors. The market potential of Industrial Internet of Things is expected to grow with the global economy and contribute a significant share to the world’s GDP, in the coming years.
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Industrial Internet of Things (IIoT) is a scenario in which sensors, devices, and machines are connected with the Internet for enabling remote monitoring and control of industrial operations. This ability to control and manage assets remotely along with, increased cost savings through predictive maintenance is very valuable for industries.
Its implementation can enhance decision making capabilities and also increase the collaboration within enterprises. Thus, Industrial IoT has the potential to transform industrial operations and provide greater competitive advantage for the companies.
The market associated with the Industrial Internet of Things is poised for tremendous growth. Sectors such as transportation and manufacturing have already begun adopting the same for their operations.
Energy and power along with, oil and gas industries are deploying industrial IoT solutions primarily, for asset monitoring and predictive maintenance. Retail and healthcare sectors are expected to be the high growth sectors with regards to implementation of these solutions.
Industrial Internet of Things offers many opportunities for various sectors such as manufacturing sector or healthcare. Some of the ways in which the Industrial IoT is poised to change and benefit different businesses are as follows: it will provide more resources for businesses, smart decision making capabilities, improved asset monitoring capabilities, effective collaboration; and most of all, new training and education opportunities
Some of the major industry players in the Industrial internet of things market are GECorporation (U.S.), Intel Corporation (U.S.), Cisco Inc. (U.S.), IBM Corp. (U.S.), Robert Bosch GmbH, (Germany), and ARM Holdings plc.(U.K.), among others.
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Geographical analysis covers Americas, Europe, Asia-Pacific, and ROW. Each region is further segmented by different countries.
The focus of this study is to comprehensively analyze all the major market segments that directly or indirectly influence the Industrial IoT market. The report provides a detailed forecast between 2014 and 2020, for each market segment to enable the stakeholders, to realize the huge market potential offered by the market.
This report provides Porter’s five forces analysis and strategic benchmarking for the Industrial IoT market.
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