Industrial Internet of Things (IoT) Market 2020-2024 | Insights by Types, Applications, Market Drivers, Industry Segmentation and Forecast Analysis

Industrial Internet of Things (IoT)

The Key purpose of “Industrial Internet of Things (IoT) Market” report is to deliver key market trends, the scope of report, competitive landscape and industry overview with key players. Industrial Internet of Things (IoT) market report is designed by a detailed investigation process to collect all the necessary data. Further, the report studies the revenue generated from the market analysis and opportunity analysis to estimate the market size.

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Industrial Internet of Things (IoT) Market Covers Key Players:

  • General Electric Company
  • Broadcom Corporation
  • CGI Group Inc.
  • Oracle Corporation
  • IBM Corporation
  • Honeywell Automation
  • Siemens AG
  • SAP SE
  • PTC Inc.
  • Omron Corporation
  • Emerson Electric Co.

    Market Overview:

  • The industrial internet of things (IIoT) market was valued at USD 357.77 billion in 2018 and is expected to reach USD 921.09 billion by 2024, witnessing a CAGR of 17.62% during the forecast period, 2019 to 2024. According to the internet of business, the autonomous vehicle market is expected to grow to 40 % from the year 2019 to 2026. The driverless car & connected autonomous vehicle that can share data among themselves with the help of IoT will play a crucial role in shaping the transportation systems around the world in the near future. Moreover, blockchain, big data, AI with IoT are changing the paradigm of industries.
  • – Industrial Internet of Things (IIoT) is a digital revolution, which is changing the way we live and work. Many companies have already started exploiting the opportunities it unfolds by extracting maximum value required for a big data approach. It is expected that the number of internet-connected devices will multiply to tens of billions in the near future. One reason for this growth is the combination of IIoT and big data analytics, which promises to further drive operational efficiencies, along with more innovation and, ultimately, new sources of revenue.
  • – Data-driven companies are already using IoT generated data, feeding them into their existing analytical pipeline and improving operational management and efficiencies, as well as reducing costs.
  • – The major challenges in implementing a big data solution primarily dependent on IoT devices are the storage of the colossal amounts of data being produced, running of analytical queries from such huge amount of data stored using highly complex storage technologies, and to perform advanced data analysis involving data mining and machine learning technologies to gain insights.<

    The Industrial Internet of Things (IoT) Market Report Includes:

    • The Industrial Internet of Things (IoT) market report covers the present status and future prospects.
    • The report analyses market trends, size, and forecast in different geographically.
    • The report provides market competition overview among the Top companies.
    • The report provides a complete analysis of the current and emerging market trends and opportunities.

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    Scope of the Report:

  • The Industrial Internet of Things (IIoT) is referred to an industrial framework whereby a large number of devices or machines are connected and synchronized through the use of software tools and third-party platform technologies in a machine-to-machine and internet of things context. Nowadays, this can is termed as Industry 4.0. Various types of IoT services can be offered across industries.

    Key Market Trends:

    Transportation Industry to Accelerate the Market Growth

    – The market for industrial internet in the transportation industry remains positive, as investments in rail, road, and urban transport projects are poised to stay stable over the forecast period.
    – The industrial fleet management services market is expected to experience significant traction during the forecast period. The value can be created by a large amount of data available in the space and by outlining comprehensive information that can help the reduction of fuel cost to a significant extent.
    – Considering the number of vehicles on the road and the data coming out of those every single moment – the route, on the driver and the vehicle itself – industrial internet in this segment is expected to unlock huge potential during the forecast period.
    – Moreover, the increasing number of the connected car in subsequent year will drive the transportation industry to next level by sharing data among themselves which can help in many ways such as reducing the traffic, fleet management, safety, public transit management, and optimal asset utilization.

    Asia-Pacific to be Fastest Growing Industrial Internet of Things (IoT) Market

    – Asia-Pacific is expected to account for the largest share in the overall industrial internet of things market. The huge market in this region is mainly due to the adoption of IoT across various industries, like manufacturing, healthcare, etc.
    – There is a huge demand for IIoT in countries, like China, Japan, India, and South Korea, where this demand is attributed to the significant growth of the end users. The increased commercialization of the applications related to the internet of things in these developing countries is booming the market for IIoT.
    – Initiatives from the government sectors are leading to huge encouragement among consumers to adopt this technology. The growing population and disposable incomes of consumers in this region, coupled with urbanization and large-scale industrialization, are factors accelerating the growth of the industrial internet of things market in the APAC region.

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    Important Questions Answered in The Industrial Internet of Things (IoT) Market Report:

    • What is the main factor that takes this market to the next level?
    • What will the market demand and what will be growth?
    • What are the latest opportunities for the Industrial Internet of Things (IoT) Market in the future?
    • What are the strengths of the main players?
    • What is the key to the Industrial Internet of Things (IoT) Market?

    Detailed TOC of Industrial Internet of Things (IoT) Market Report 2020-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET OVERVIEW
    4.1 Applications of Industrial Internet of Things (IIoT)

    5 MARKET DYNAMICS
    5.1 Market Drivers
    5.1.1 Proliferation of Smart Devices and Sensors in Plants
    5.1.2 Growing Demand for Automated and Efficient Process
    5.1.3 Increasing M2M Applications in the Market
    5.2 Market Restraints
    5.2.1 High Initial Cost Challenging the Market
    5.2.2 Lack of Information and Adoption Capability of Industry
    5.3 Industry Attractiveness – Porter’s Five Force Analysis
    5.3.1 Bargaining Power of Suppliers
    5.3.2 Bargaining Power of Buyers/Consumers
    5.3.3 Threat of New Entrants
    5.3.4 Threat of Substitute Products
    5.3.5 Intensity of Competitive Rivalry
    5.4 Industry Value Chain Analysis
    5.5 Technology Snapshot

    6 MARKET SEGMENTATION
    6.1 By Type
    6.1.1 Hardware
    6.1.2 Software
    6.1.3 Service
    6.2 By Industry Vertical
    6.2.1 Transportation
    6.2.2 Manufacturing
    6.2.3 Oil & Gas
    6.2.4 Utilities
    6.2.5 Other Industry Verticals
    6.3 Geography
    6.3.1 North America
    6.3.2 Europe
    6.3.3 Asia-Pacific
    6.3.4 Latin America
    6.3.5 Middle East & Africa

    7 COMPETITIVE LANDSCAPE
    7.1 Company Profiles
    7.1.1 General Electric Company
    7.1.2 Broadcom Corporation
    7.1.3 CGI Group Inc.
    7.1.4 Oracle Corporation
    7.1.5 IBM Corporation
    7.1.6 Honeywell Automation
    7.1.7 Siemens AG
    7.1.8 SAP SE
    7.1.9 PTC Inc.
    7.1.10 Omron Corporation
    7.1.11 Emerson Electric Co.

    8 INVESTMENT ANALYSIS

    9 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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