The industrial internet of things is a term used to describe the interconnectivity of industrial processes and manufacturing equipment by adoption of IOT technology.

Seattle, WA -- (SBWire) -- 10/08/2019 --Industrial Internet of Things (IIoT) Market report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the Global market. The Industrial Internet of Things (IIoT) Market report provides an in-depth overview of Product Specification, technology, product type and production analysis considering major factors such as Revenue, Cost and Gross Margin.

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The industrial internet of things is a term used to describe the interconnectivity of industrial processes and manufacturing equipment by adoption of IOT technology. The adoption of sensors in industries have given the birth to industrial IOT market.

Industrial Internet of Things Market Taxonomy

On the basis of service, the global industrial internet of things market is segmented into:
- Professional services
- Managed Services

The managed service segment held the dominant position in 2016 and is projected to maintain its dominance throughout the forecast period. Increasing government initiatives towards digitalization and increasing government investments to boost the adoption of IOT technology in various industries such as utilities and manufacturing are expected to drive growth of the IOT market. The professional services segment is expected exhibit the highest CAGR over the forecast period.

On the basis of solution, the global industrial internet of things market is segmented into:

- Real-Time Streaming Analytics
- Security
- Data Management
- Remote Monitoring
- Network Bandwidth Management

On the basis of platform type, the global industrial internet of things market is segmented into:

- Device Management
- Application Management
- Network Management

On the basis of verticals, the global industrial internet of things market is segmented into:

- Agriculture
- Manufacturing
- Automotive& machinery
- Food and Beverage
- Chemicals and Materials
- Electronics and Utilities
- Healthcare and Pharmaceuticals
- Metals and Mining
- Oil and Gas
- Retail
- Transportation
- Others

Industrial Internet of Things Market Outlook – Asia Pacific holds significant market share

On the basis of geography, the global industrial internet of things market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America holds a dominant position in the global industrial internet of things market and is projected to retain its dominance throughout the forecast period. Growing digitalization and high adoption of IOT solutions by manufacturing and automation industries have contributed to growth of the market in North America. Similarly, the Asia Pacific is projected to exhibit the highest CAGR over the forecast period. India, china, Japan, and South Korea are some of the major countries that help drive growth of the market for IOT in the Asia Pacific region. Dense population, increasing disposable income, and large scale industrialization in the region are boosting growth of the market. In addition to this, the increasing adoption of digitalization by various industries to reduce the production time and operating costs also create a conducive environment for growth of the industrial IOT market in Asia Pacific.

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Key Players in the Global Industrial Internet of Things Market

ABB, ARM Ltd., Cisco Systems, Inc., Dassault Systèmes, General Electric, Honeywell International Inc., Huawei Technology Co., Ltd., Intel Corporation, Rockwell Automation, Inc., and Texas Instruments Inc. are some of the major players in the global industrial internet of things market.

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