What is Industrial IoT Platform?
The industrial Internet of Things (IIoT) platforms as a set of integrated software capabilities. The aggressive rate of IIoT adoption in line with the advances in technology as well as the easing availability of affordable sensors and processors, which can facilitate real-time access to information, is anticipated to boost the development of the industrial internet of things market over the upcoming period. An IIoT platform should also be able to orchestrate functions such as machine learning, using edge computing, as the volume of time-series data in some forms of manufacturing is too great to transfer to the cloud, Hughes said. Also, the latency required to act upon the data such as in safety or critical situations is too long in the cloud.
The market study is broken down, by Application (Asset Management, Remote Monitoring and Network System Management) and major geographies with country level break-up. According to AMA, the Global Industrial IoT Platform market is expected to see growth rate of 6.7% and may see market size of USD107.0 Billion by 2026.
Analysts at AMA Research estimates that Players from United States will contribute to the maximum growth of Global Industrial IoT Platform market throughout the predicted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Huawei (China), Cisco (United States), GE (United States), Intel (United States), Rockwell Automation (United States), ABB (Switzerland), Texas Instruments (United States), Honeywell (United States), IBM (United States) and KUKA AG(Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are NEC Corporation (Japan), Bosch.IO (Germany), Siemens AG (Germany) and SAP (Germany).
AdvanceMarketAnalytics has segmented the market of Global Industrial IoT Platform market by Type, Application and Region.
On the basis of geography, the market of Industrial IoT Platform has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2020. If we see Market by Industry Vertical, the sub-segment i.e. Aviation will boost the Industrial IoT Platform market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Cameras will boost the Industrial IoT Platform market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In April 2021, Intel, in partnership with John Deere, provided its AI technology to help solve a costly, age-old problem in the manufacturing welding process. Deere is piloting a solution that uses computer vision to automatically spot common defects in the automated welding process in its manufacturing facilities.
In February 2021, Cisco partnered with Newark, an Avnet Company, to offer industrial IoT network solutions for harsh and non-carpeted environments to customers across North America.
- Increasing Popularity of artificial intelligence (AI) and the Internet of Things (IoT) in the manufacturing sector
- High Adoption due to Standardization of IPv6
- The increasing number of connected gadgets
- The Upsurging application of AI and IoT in the medical sector during the pandemic
- Incompatibility of legacy equipment with communication networks
- Susceptibility of IoT technologies to cyberattacks
Key Target AudienceGovernment Regulatory Bodies, Private Research Organization, Government Research Organization and Others
About ApproachTo evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
Frequently Asked Questions (FAQ):
1. What all players are profiled in the study?
The standard version of the report profiles players such as Huawei (China), Cisco (United States), GE (United States), Intel (United States), Rockwell Automation (United States), ABB (Switzerland), Texas Instruments (United States), Honeywell (United States), IBM (United States) and KUKA AG(Germany) etc.
2. Can we have customized study for Industrial IoT Platform Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. What would be the Market Size of Industrial IoT Platform Market by 2026?
Analysts at AMA estimates Industrial IoT Platform Market to reach USD107.0 Billion by 2026.