San Francisco, 13 March 2019: The Report Industrial Internet of Things (IIoT) Market Analysis By Component (Solution, Services,
Platform), By End-Use (Manufacturing, Energy & Power, Oil & Gas,
Healthcare, Logistics & Transport, Agriculture), And Segment Forecasts,
2018 - 2025
The global industrial IoT market is expected
to reach USD 933.62 billion by 2025, according to a new report by Grand View
Research, Inc. The growing demand and adoption of cloud computing, coupled with
the Scalability of IPv6-3.4X 10^38 IP address, are presumed to drive the market
over the forecast period.
Businesses, across the
globe, are seeking new operating models to create a connected enterprise for
merging operational and information departments of the industry. This
transformation is predicted to increase the overall productivity, enhance
operational efficiency, improve visibility, and reduce the complexities of
different processes in the industry.
The ability of IoT to
reduce costs has been the prime factor for its adoption in the industrial
sector. However, several significant investment incentives, such as increased
productivity, process automation, and time-to-market, have also been boosting
this adoption. The falling prices of sensors have reduced the overall cost
associated with data collection and analytics.
An emerging trend among
enterprises worldwide is the transformation of technical focus to improving
connectivity in order to undertake data collection with the right security
measures in place and with improved connections to the cloud. The emergence of
low-power hardware devices, cloud integration, big data analytics, robotics
& automation, and smart sensors are also driving IIoT market growth.
However, there are a few
factors that are anticipated to limit the global IIoT growth. The major factors
challenging the market growth are the lack of a defined protocol or
standardization and use of old equipment. Security-related concerns, associated
with big data, are also expected to limit the market growth.
Access Research Report of Industrial
IoT Market @ http://www.grandviewresearch.com/industry-analysis/industrial-internet-of-things-iiot-market
Further key findings from the report suggest:
· The global industrial IoT market size
exceeded USD 100 billion in 2016 and is presumed to grow at a CAGR of over 25%
from 2017 to 2025
· Manufacturers are increasingly leveraging
the benefits of IIoT solutions to enhance their analytics functionalities
(through predictive maintenance), consolidate their control rooms, and track
assets
· The managed IIoT services segment is
predicted to growth over the next eight years, as implementation of IoT
technology requires integration of managed IIoT services at every layer of the
IIoT ecosystem
· The Asia Pacific regional market is
anticipated to outgrow the North American market and emerge as the highest
revenue-generating region, with China spearheading the growth, by the end of
2025
· Large IT solutions & service providers
are seeking IIoT platform, as a high-margin solution that generates a stable
revenue stream via cloud-based revenue models
Browse more reports of this category by Grand View
Research at: https://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has
segmented the global Industrial Internet of Things (IIoT) market on the basis
of component, end-use, and region:
Industrial IoT Component Outlook (USD Billion, 2014
- 2025)
·
Solution
·
Services
·
Platform
Industrial IoT End-Use Outlook (USD Billion, 2014 -
2025)
·
Manufacturing
·
Energy & Power
·
Oil & Gas
·
Healthcare
·
Logistics & Transport
·
Agriculture
·
Others
Industrial IoT Regional Outlook (USD Billion, 2014 -
2025)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East & Africa
Access Press Release of
Industrial IoT Market@ https://www.grandviewresearch.com/press-release/global-industrial-internet-of-things-iiot-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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