The Industrial Internet of Things (IIoT) is the sub-segment of the concept Internet of Things. It includes interconnected devices such as sensors, instruments which in further integrated with the computer networks to cater the applications. The applications are high trends in the automation industry with the help of cloud computing. A huge amount of data is gathered then be transferred to a central cloud-based service where it is accumulated with other data and then forwarded to end-users. Significant three key factors which foster the growth of the global industrial IoT (IIoT) market are the low operational cost of internet of things, the growth in several technical advancements, and the huge rate of adoption of the many cloud-based models of deployment. The connected and smart devices are the important components in the smart manufacturing procedures and the integrated supply chains. Additionally, the benefits offered by the low-cost connected devices have allowed the manufacturers to implement several industrial IoT (IIoT) market trends to raise the overall productivity of the industry and also to reduce the volume of resource consumption. Further, due to the less operating costs, number of manufacturers tends to incorporate the industrial IOT (IIoT) market trends applications in several machines to improve the performance of the machines at a minimize cost. Also, the demand for data protection, low-cost information storage and backup are vital industrial IOT (IIoT) market opportunities for SME or small and medium-sized enterprises. The cloud implementations made through industrial IOT (IIoT) market trends assist the business organizations to provide better services of IoT to different industry verticals. However, the incompatibility of conventional equipment with communication networks and dearth of skilled engineers are the key factors to limit the market growth.

In addition, the expansion in industrial IOT (IIoT) market size has enabled the key industry players to offer their end-users a much enhanced industrial IOT (IIoT) market opportunities. The introduction of smart sensors into several industrial machines has enabled the manufacturers to decrease the operating expenses and it is projected to get decreased further in the course of the Industrial IoT (IIoT) Market estimated period. In addition to this, augmented reality and virtual reality provide end-users a complete 360 degree of any object before it’s got produced in real.

The global Industrial IoT (IIoT) Market is segregated on the basis of Application as Manufacturing, Energy & Power, Oil & Gas, Healthcare, Transportation & Logistics and Others. Based on Component Type the global Industrial IoT (IIoT) Market is segmented in Hardware, Software, Services and Connectivity.

The global Industrial IoT (IIoT) Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Industrial IoT (IIoT) Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.

Competitive Analysis

General Electric Digital, IBM Corporation, PTC Inc., Microsoft Corporation, Cisco Systems Inc. and others are among the major players in the global Industrial IoT (IIoT) Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.

• In April 2021, Intel, entered into a partnership with John Deere, to provide its AI technology to help in solve a costly, old problem in the manufacturing welding process. Deere is testing a solution which uses computer vision to automatically identify common defects in the automated welding process in its manufacturing facilities.
• In February 2021, Cisco collaborated with Newark, an Avnet Company, to provide industrial IoT network solutions for severe and non-carpeted environments to customers across North America.
• In March 2021, Plataine declared a partnership with SAP to integrate IIoT and AI-based software for digital manufacturing as part of its business offering. Plataine’s cloud-based industrial IoT and AI-based software for digital manufacturing is now available on SAP Store, which recently integrated with SAP App Center as the single digital marketplace for SAP and partner offerings.

 The global Industrial IoT (IIoT) Market has been segmented as below:

Industrial IoT (IIoT) Market, By Application

• Manufacturing
• Energy & Power
• Oil & Gas
• Healthcare
• Transportation & Logistics
• Others

Industrial IoT (IIoT) Market, By Component Type

• Hardware
• Software
• Services
• Connectivity

Industrial IoT (IIoT) Market, By Region

• Europe
• North America
• Asia Pacific
• Rest of The World

Industrial IoT (IIoT) Market, By Company

• General Electric Digital
• IBM Corporation
• PTC Inc.
• Microsoft Corporation
• Cisco Systems Inc.
• Robert Bosch GmbH
• Dassault Systemes
• ABB Ltd.
• Huawei Technologies Co. Ltd
• Kuka AG
• Rockwell Automation Inc.
• Schneider Electric SE
• Siemens AG
• Intel Corporation

The report covers the below scope:

• Global Industrial IoT (IIoT) Market sizes from 2020 to 2026, along with CAGR for 2020-2026
• Market size comparison for 2019 vs 2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to 2026
• Global Industrial IoT (IIoT) Market trends, covering comprehensive range of consumer trends & manufacturer trends
• Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global Industrial IoT (IIoT) Market
• Major market opportunities and challenges in forecast timeframe to be focused
• Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
• Comprehensive company profiles of the key industry players

The years considered for the study are as follows:

• Base year - 2019
• Estimated year - 2019
• Projected year - 2020
• Forecast period - 2021 to 2026

Report Scope:

The global Industrial IoT (IIoT) Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Industrial IoT (IIoT) Market share. Major industry players with significant revenue share include General Electric Digital, IBM Corporation, PTC Inc., Microsoft Corporation, Cisco Systems Inc. and others.

Why to Buy this Report:

• Gain detailed insights on the Industrial IoT (IIoT) industry trends
• Find complete analysis on the market status
• Identify the Industrial IoT (IIoT) Market opportunities and growth segments
• Analyse competitive dynamics by evaluating business segments & product portfolios
• Facilitate strategy planning and industry dynamics to enhance decision making

Target Audience:

• The report targeted towards the existing players in the industry is as follows:
• Market Manufacturers/Service Providers
• Market Wholesale/Traders
• Investment and Financial Institutions

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