Global Industrial IoT (IIoT) Chipsets Market 2017-2021

Overview of the global industrial IoT (IIoT) chipsets market

Market research analysts at Technavio predict that the global industrial IoT (IIoT) chipsets market will grow steadily during the next four years at a CAGR of more than 30% by 2021. The demand from manufacturing industries for enhanced factory networks is one of primary growth factors for this market. A factory network assists the industrial companies to build one common plant to the business network. This allows factory automation and control systems to connect with the IT systems equipped with standardized Internet Protocol (IP) networking. Factory network provides advantages for companies to cut costs and improve their operational efficiency with a highly secure remote access. This can help mitigate risks by enhancing the network uptime and equipment availability. Moreover, factory network also provides industries security features to protect critical manufacturing assets.

The emergence of industry 4.0 is identified as one of the key trends that will contribute to the growth of the market in the future. Industry 4.0 is also known as the fourth industrial revolution that denotes a living network of people, machines, and products, leading to the optimization of the entire manufacturing flow with the help of real-time data. The rising growth of automation, electrification, data integration, human-machine interaction, and connectivity has led to the adoption of Industry 4.0. Moreover, to achieve this vision, industrial machines and industrial robots need to be fitted with microprocessors, microcontrollers, sensors, and switches that help increase the production efficiency.

Competitive landscape and key vendors  

The IIoT chipsets market consists of numerous players in the Americas, European countries, and few APAC countries. The government initiatives from the countries in APAC and EU are also driving the development of new products with advanced technologies. Also, due to the investments of the government, companies are spending more on R&D to develop new and innovative products.