Global Industrial IoT Market: Research report 2015-2019
Market definition of industrial IOT
As per the forecast, with an increase in global shipments of sensors, the industrial IOT market is likely to witness substantial, posting a CAGR of around 27% in the next four years.
The industrial IOT market is in its early stage and is driven by big-ticket initiatives such as "Made in China Strategy 2025" and "Internet Plus" in China; and Industry 4.0 in Germany. The industrial IoT is a combination of big data analytics and internet of things (IoT). Adoption of IoT in key global industries has resulted in new job roles in the market, and it is expected to play a key role in creating a digitally enhanced smart workforce, in the years to come.
Market segmentation of industrial IoT by end-users
- Energy and Utilities
- Automotive and Transportation
Companies and government bodies worldwide have already applied industrial internet to improve efficiencies, create new revenue segments, and improve the quality of public life. Industrial IoT offers huge opportunities for organizations across these key sectors that currently account for roughly 60% of the global economy.
In 2014, manufacturing emerged as the largest contributor of the industrial IoT market. However, the healthcare segment is expected to have a notable growth rate because of several government guidelines mandating the digitization of healthcare operations. To leverage favorable market conditions, GE, a key vendor in this space, is investing $2 billion to tap the available digitization opportunities. Similarly, the market trends indicate substantial investments in the industrial IoT space by other key market vendors.
Top players of the industrial IoT market
Vendors are expected to capitalize on the opportunities presented by industrial automation during the forecast period. With the advent of hybrid industries taking off globally, many vendors will look to penetrate new growth areas such as precision agriculture, digital medicine, and smart manufacturing.
The other prominent vendors of the market include Accenture, Amazon, ARM, Atmel, Atos, Bosch, Broadcom, Digi International, CSC, CTS, Dell, Echelon, Ericsson, Freescale, , Hitachi, HP, Huawei, , Infineon, Infosys, Livion, Google, Microsoft, National Instruments, NEC, Oracle, PTC, Quuppa, Rockwell, Roima, SAP, Siemens, TCS, Tech Mahindra, Texas Instruments, Tieto, Trelab, Unisys, Verizon, Zebra Technologies, and ZTE.
Leading geographies for the industrial IoT market
In 2014, the APAC region accounted for a little over 12% of the overall industrial IoT market. The market is in the early stage in this region, and India and China dominate it. Favorable support from governments and industrial pressure to enhance business productivity by the digital transformation of traditional industries is likely to drive the future of Industrial IoT in APAC region.
Key questions answered in the report
- What are the key factors driving the industrial IoT market?
- What are the key market trends impacting the growth of the industrial IoT market?
- What are the various opportunities and threats faced by the industrial IoT market?
- Key outcome of the five forces analysis on the industrial IoT market?
- Growth forecast of the industrial IoT market?
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