The industrial internet-of-things, also known as the IIoT, is a term used to describe the network of physical devices and machines that are connected to the internet. These devices are able to collect and share data, making them more efficient and productive. The IIoT has the potential to revolutionize manufacturing and other industries, by providing real-time data that can be used to improve processes and make better decisions.
The global industrial internet-of-things (IIoT) market was valued at USD 193.9 billion in 2019 and is expected to reach USD 993.09 billion by 2027, at a CAGR of 24.9% during the forecast period 2020-2027.
With the advent of Industry 4.0 and emergence of new technologies, IIoT has become one of the most transformational trends across various industries such as manufacturing, oil & gas, healthcare, automotive, and others. IIoT aids in connecting physical devices with each other and with people over the internet to collect and share data about those devices and their environment.
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Figure Shows Industrial Internet-of-Things Market Value (USD Mn) and Y-O-Y Growth Rate:
Key Market Players included in the report:
- IBM
- Intel
- Accenture
- Cisco
- GE
- AT&T
- Emerson
- BlackBerry
- Rockwell Automation
- Amazon
- Pivotal
- Seeq
- TempoDB
- RTI
- Omron
- Apple
- DataLogic
There are many benefits of IIoT, including:
1. Increased Efficiency: IIoT can help organizations increase efficiency by providing real-time data that can be used to make informed decisions. For example, if a machine is not operating correctly, IIoT can provide data that can be used to troubleshoot the issue and fix it quickly.
2. Optimized Processes: IIoT can also be used to optimize processes.
Key Market Segments
Type
- Private IoT
- Public IoT
- Community IoT
Application
- Aerospace & Defense
- Energy
- Transportation
- Control Systems/Robotics
Regional Segmentation:
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
Research Methodology by Market.us
Research study on Industrial Internet-of-Things market will performed in five phases which include primary research, secondary research, subject matter expert advice, quality check and final review. Based on the understanding of requirements, we conducted secondary research to identify the Segment specifications, qualitative and quantitative data along with the factors responsible for the growth of said market, The secondary sources referred for the study include press releases, company annual reports and research papers related to the industry.
Various sources such as industry magazines, trade journals, government websites and associations were also reviewed for gathering precise data on opportunities for business expansions in said market. Moreover, quantitative as well as qualitative data was also extracted from paid databases, which included Reuters, Faction, Bloomberg, One Source, and Hoovers, which proved to be useful for in depth technical study of the market.
Frequently Asked Questions (FAQ):
What is the size of the global Industrial Internet-of-Things market?
How is the Industrial Internet-of-Things market expected to grow in the next 10 years?
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Which region, among others, possesses greater investment opportunities in the near future?
What will be the growth rate of the Asia-Pacific Industrial Internet-of-Things market?
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