What is Connected Industries Market?
Connected industries involve the use of advanced and cutting-edge technological solutions for various applications like automation, predictive maintenance, data analytics, and cyber security solutions to protect networks or systems across the industry. Digital transformation and growing adoption of machinery across the various industries to increase efficiency and overall production at reduced operational cost is the major growth driver for the connected industry solutions. The industries are increasingly deploying IoT sensors and AI-powered software for automatic data collection and predictive analysis to reduce failures and downtime of machinery or equipment. In today’s time, AR & VR is becoming much popular among retailers and e-commerce service providers to provide trying-up clothes virtually and enhance customer experience. Further, the connected technology also helps consumers to find their stuff easily and quickly, enhance store space productivity, and inventory management.
The market study is being classified by Type (Industrial Robotics, IoT, AR & VR, Cyber Security, AI & Big Data and Others) and major geographies with country level break-up.
Robert Bosch (Germany), Honeywell International (United States), Siemens AG (Germany), General Electric (United States), ABB Ltd. (Switzerland), Schneider Electric (Germany), Rockwell Automation (United States), Cisco Systems (United States), Fujitsu (Japan), Dassault Systèmes (France), Mindtree (India), Amazon Web Services (United States), IBM (United States), Hewlett Packard Enterprise (United States), Microsoft (United States) and SAP (Germany) are some of the key players profiled in the study.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Connected Industries market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Connected Industries market by Type, Application and Region.
On the basis of geography, the market of Connected Industries has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Surging Demand for Connected Industry Solutions in the Manufacturing and Chemical Industry for Process Automation and Predictive Maintenance
- Growing Popularity of AI & Big Data Across Industry Verticals to Analyze Huge Amount of Data Automatically
- Integration and Migration of 5G Network Connectivity for Effective Wireless Communication and Low Latency Rate
- Increased Focus on the Research and Development of Innovative Solutions by the Global Players
- Semiconductor Shortage and Economic Conflicts Between the US and China Will Affect the Market Growth
- Emerging Hybrid IoT Connectivity Solutions with Bluetooth LE and Low Power Cellular Wireless Technology Will Create Significant Opportunities for IoT
- High Initial Investment and Rising Cyber Threats May Create Challenges
Market Leaders and some development strategies
In 2020, Accenture acquired Germany-based SALT Solutions AG to Improve Manufacturing Operations and Logistics with Cloud-Based Industrial IoT Platforms. SALT Solutions implements and maintains IT systems for production, operations, and logistics at leading German automotive, manufacturing, consumer goods, and chemicals companies. With the acquisition of SALT Solutions, Accenture will build cloud-based industrial internet of things (IoT) platforms that speed up and optimize clients’ production and logistics and enable them to reduce quality and waste issues along the entire supply chain.
In October 2021, Mindtree announced the launch of its industry-specific IoT solution built on ServiceNow connected operations. The solution has been developed by leveraging advanced technologies like AI, machine learning, and the capabilities of ServiceNow Connected Operations. This will enable manufacturing and consumer goods industries to put their IoT data to work for improved decision-making and smarter operations and improve customer and field service.
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Connected Industries Solutions Providers, Raw Material Manufacturers and Suppliers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-User Industries and Others
Frequently Asked Questions (FAQ):
1. Which factors would majorly drive the Connected Industries Market?
"Surging Demand for Connected Industry Solutions in the Manufacturing and Chemical Industry for Process Automation and Predictive Maintenance
" is seen as one of major growth factors of Connected Industries Market in years to come.
2. Can we have customized study for Connected Industries Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. Which region will lead the Global Connected Industries Market?
United States will lead Connected Industries Market in coming years.