The study methodologies used to examine the Industrial IoT market for the forecast period, 2020 - 2027 further classifies the industry by type, geography, end-use and end-user to add more precision and bring to light factors responsible for augmenting business development.
Vancouver, BC -- (SBWIRE) -- 03/11/2021 -- The global Industrial IoT Market will be worth USD 128.09 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing adoption of the Industrial IoT solutions by industrialists and manufacturers. The growing need to improve productivity, enhance the workers' safety, and reduce the operating and manufacturing costs is expected to drive the growth of the Industrial IoT technologies over the forecast period. The rising need to reduce the risk of cyber and data breaches caused by human errors is most likely to fuel the demand for Industrial IoT technologies.
The study includes valuable data, including the breakdown of information of market by type, geography, product application and classification. An overview of the current and future trends examined in the report for the forecast period 2020 – 2027 aim at influencing the imperative advance prominent vendors are expected to have over their competitors.
The Asia Pacific accounted for the largest market share of the Industrial IoT market in 2019. Increasing adoption of intelligent technologies and advanced factory automation in developing economies is expected to drive this region's growth.
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A conscious effort is made by the subject matter experts to analyse how some business owners succeed in maintaining a competitive edge while the others fail to do so makes the research interesting. A quick review of the realistic competitors makes the overall study a lot more interesting. Opportunities that are helping product owners' size up their business further add value to the overall study.
Key questions answered in the report
What will be the market size in terms of value and volume in the next five years?
Which segment is currently leading the market?
In which region will the market find its highest growth?
Which players will take the lead in the market?
What are the key drivers and restraints of the market's growth?
Report Objectives
Examine the size of the global Industrial IoT market based on the parameters of value and volume.
Accurately calculate the market shares, consumption, and other essential aspects of different segments of the global Industrial IoT market.
Explore the underlying dynamics of the global Industrial IoT market.
Highlight significant trends of the global Industrial IoT market based on factors including, production, revenue, and sales.
Extensively profile top players of the global Industrial IoT market and showing how they compete in the industry.
Study manufacturing processes and the costs, product pricing, and various trends associated with them.
Analyze the performance of different regions and countries in the global Industrial IoT market.
Forecast the market size and share of all segments and regions in the global landscape.
Key Highlights From The Report
In June 2020, Wipro Ltd and IBM collaborated to help enterprises, startups with cloud services. Through this collaboration, Wipro will develop hybrid cloud offerings to help businesses manage, migrate, and transform critical workloads and applications, with security across private or public cloud and on-premises IT environments. The partnership will also provide customers remote access to Red hat and IBM solutions.
The solution segment held the largest market share of 47.5% in 2019. Increasing investments of the Industrial IoT solution providers for the launch of technologically advanced information systems for the industrial sector is expected to drive the segment's growth.
Logistics & Transport are forecasted to grow with the fastest CAGR of 9.3% over the forecast period. Increasing adoption of the Industrial IoT technologies in the logistics & Transportation sector is expected to drive the segment's growth.
Key participants include GE, Intel, Cisco, IBM, Siemens, Honeywell, Rockwell Automation, Texas Instruments, ABB, and Kuka, among others.
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Component Outlook (Revenue, USD Billion; 2017-2027)
Services (Managed, Professional)
Solution (Analytics, Remote Monitoring, Security Solutions, Data Management)
Platform (Application Management, Connectivity Management, Device Management)
End-User Outlook (Revenue, USD Billion; 2017-2027)
Energy & Power
Healthcare
Agriculture
Manufacturing
Oil & Gas
Logistics & Transport
Others
Industrial IoT Market Regional Outlook (Revenue, USD Billion; 2021–2028)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2028
Chapter 3. Key Insights
Chapter 4. Industrial IoT Market Segmentation & Impact Analysis
Chapter 5. Industrial IoT Market By Application Insights & Trends, Revenue (USD Billion)
Chapter 6. Industrial IoT Market By Industries Insights & Trends Revenue (USD Billion)
Chapter 7. Industrial IoT Market By Type Insights & Trends Revenue (USD Billion)
Chapter 8. Industrial IoT Market Regional Outlook
Continued…