March 30, 2020

Industrial IoT Market Is Driven By Increasing Digitization And Government Initiatives And Policies In Industrial Sectors

According to a new market research report published by Credence Research “Global Industrial IoT Market (Component (Solution [Analytics, Data Management, Remote Monitoring, Security Solutions, Others] Service [Managed, Professional] Platform [Application Management, Connectivity Management, Device Management]); Application (Automotive, Aerospace & Defense, Food & Beverages, Energy & Utility, Oil & Gas, Healthcare,  Transportation & Logistics, Others)) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”

The Industrial IoT market was valued at US$ 160.0 Bn in 2018 and is set to grow with a CAGR of 29% during the forecast period.

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Industrial IoT Market

Market Insights:

The Industrial IoT market is driven by government policies to back Industry 4.0 revolution. In 2011, Germany introduced the Industry 4.0 model for the first time under its High Tech Strategy 2020 with the aim of creating a digitally linked decentralized network, where connected devices, equipment and machinery can interact with one another. Under the initiative the German government plans to invest billions in the manufacturing industry to improve the latest technologies. Likewise, US President Barack Obama launched a series of programs and policies in 2011 to build next-generation manufacturing facilities. The U.S. government has initiated an “Advance Manufacturing Alliance” program to achieve industrial-sector digitisation. Such programs inject the funds into the market to accelerate the manufacturers ‘ adoption of the advanced technologies.

Food & beverages industry is also embracing the industrial IoT solutions due to the increasing demand for high quality products, lower price and traceability on large scale. The advance manufactories facility can assist organizations increase the productivity, reduce the cost of production and manage the complex supply chain.  Similarly, aerospace and defense sector is shifting toward the advance manufacturing technologies to reduce the overall cost of production and increase profit margins.  As the customers in the aerospace & defense are becoming more demanding in terms of customization and delivery timeline, the companies are moving towards digital solutions to create a more agile and predictive production process to meet the customer’s requirement.

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Asia Pacific is projected to grow considerably during the forecast period. This is driven by the growing digitalization among the industrial sector. For instance, in 2015, the Chinese government also launched “Made in China 2025” and “Internet Plus” strategies to boost the adoption of technology among industrial sector. The key players in the Industrial IoT market space are ABB Ltd, General Electric Company, ARM Holding PLC, Cisco Systems Inc., Atmel Corporation, Bosch, Intel Corporation, Honeywell International, IBM Corporation, Huawei Technologies, NEC Corporation, Siemens AG, Microsoft Corporation, Texas Instruments, and Rockwell Automation Inc.


Chapter 1 Preface
1.1 Report Scope and Description
1.1.1 Study Purpose
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Research Methodology
1.3.1 Phase I – Secondary Research
1.3.2 Phase II – Primary Research
1.3.3 Approach Adopted
1.3.4 Top-Down Approach
1.3.5 Bottom-Up Approach
1.3.6 Phase III – Expert Panel Review
1.3.7 Assumptions
1.4 Market Segmentation

Chapter 2 Executive Summary
2.1 Market Snapshot: Global Industrial IoT Market
2.1.1 Global Industrial IoT Market, by Component, 2018 (US$ Mn)
2.1.2 Global Industrial IoT Market, by Application, 2018 (US$ Mn)
2.1.3 Global Industrial IoT Market, by Geography, 2018 (US$ Mn)

Chapter 3 Market Dynamics
3.1 Introduction
3.2 Market Dynamics
3.2.1 Market Drivers
3.2.2 Market Restraint
3.3 Attractive Investment Proposition, by Geography, 2018
3.4 Market Positioning of Key Industrial IoT Vendors, 2018…

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