Global Industrial Internet-of-Things Market 2016-2020
Outlook of the global industrial Internet-of-Things (IIoT) market
Internet-of-Things (IoT) provides objects with unique identification systems and can transfer data through a network without human interaction. The global market for industrial IoT (IIoT) is anticipated to grow at a rapid pace during the forecast period, and the prospects for growth in this market will be driven by the increasing government support and traditional industries' digital transformation to enhance business productivity and sustain a competitive advantage. Also, the recent increase in data generation using IIoT is a significant factor that will spur growth in this market during the forecast period. Recently, it has been observed that many connected devices are used in industries to generate a high volume of data. This data is then used by companies to optimize cost and generate revenue. Comprehensive market analysis carried out by the analysts at Technavio has shown that the global market for IIoT will grow at a CAGR of more than 7% during the forecast period.
Recent advances in sensor technology are one of the key drivers for the growth of this market. Advances in sensor technologies and innovations in material sciences have led to the proliferation of different types of sensors. In recent times, it has been observed that the sensor technologies have advanced in terms of miniaturization, energy consumption, performance, and cost. In an industrial internet setup, sensors help to boost enterprise mobility, remote monitoring, and remote system control. These benefits will result in significant cost savings, which in turn will spur their adoption during the estimated period.
Geographical segmentation of the IIoT market
- North America
In 2015, the APAC region dominated this market and is anticipated to grow at a CAGR of around 8% during the forecast period. Growing investments in the implementation of IIoT will spur the prospects for market growth in this region. Furthermore, with the growing utilization of industrial robots and the introduction of initiatives like the Industrial Value Chain Initiative, the market for IIoT in APAC will have a positive outlook until 2020.
Competitive landscape and key vendors
The global IIoT market competitive and is primarily dominated by the large vendors as they have access to better technologies and resources. The vendors that have the ability to offer a wide range of products and services like networking devices and network management services will gain a competitive edge over their peers.
Key vendors in this market are -
- Rockwell Automation
Other prominent vendors analyzed in this market research are Accenture, ARM Holdings, AT&T, Broadcom, Google, Honeywell, Huawei, Robert Bosch, Siemens, and Zebra Technologies.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global IIoT market?
- What are the key market trends impacting the growth of the global IIoT market?
- What are the challenges to market growth?
- Who are the key vendors in the global IIoT market?
- What are the market opportunities and threats faced by the vendors in the global IIoT market?
- What are the trending factors affecting the market shares of APAC, Europe, North America, and ROW?
- What are the key outcomes of the five forces analysis of the global IIoT market?
Technavio also offers customization on reports based on specific client requirement.