New
York 16 April 2019:
The report “Industrial
IoT (IIoT) Market [(By Technology & Solutions); By Service (Consulting,
Managed Services); By End-Use Vertical (Manufacturing, Utilities, Oil &
Gas, Transportation & Logistics, Retail, Energy & Power, Agriculture,
Healthcare, Others); By Regions]: Market Size & Forecast to 2026” According
to a new study published by Polaris Market, the global Industrial Internet of
Things (IIoT) market is anticipated to reach USD 771.72 billion by 2026.
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Industries worldwide are looking
for new business models to construct a connected enterprise for merging their
operational and information departments. This transformation is expected to
enhance the overall productivity, operational efficiency, and visibility as
well as decrease the complexities of diverse procedures in the industry. The
capability of IIoT to decrease costs is the major factor responsible for its
high adoption by the industries. Other factors include increased productivity,
time-to-market, and process automation. Moreover, decreasing sensors prices has
also helped in the reduction of overall costs related to data collection and
analytics.
The role of IIoT is becoming more
prominent in allowing easy access to machines and devices. The adoption of IIoT
is further anticipated to escalate globally attributed to increasing innovative
efforts by major players such as GE, Cisco and Huawei, as well as increasing
initiatives sponsored by governments. For instance, the government of Germany
is sponsoring a multi-year strategic initiative ‘Industrie 4.0’, focused on
uniting the major participants from public and private sectors along with
academia for the creation of an action plan and a broad vision to implement
digital technologies in the country’s industrial sector. Furthermore, “Made in
China 2025” initiative of the Chinese government is helping the promotion and
integration of digital technologies in the industrial sector of China.
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The market in the Asia Pacific
region is projected to grow at the fastest CAGR owing to considerable adoption
of IIoT in the countries such as Japan, Taiwan and China. Manufacturing
companies across these countries are recognizing the advantages offered by the
implementation of IIoT in their production line. China is the dominating
country in the Asia Pacific market due to the presence of several manufacturing
companies in the region and high adoption of automation technologies.
Some of the major players operating
in the Industrial IoT include Corning Incorporated, ABB Ltd., Cisco Systems,
Inc., General Electric Company, Siemens AG, Rockwell Automation, Inc., IBM
Corporation, Microsoft Corporation, ARM Ltd., Intel Corporation, and Kuka AG
among others.
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Key
Segments:
Industrial
IoT Market Size and Forecast by Technology & Solutions
·
Key
findings
·
Technology
& Solutions
·
Sensors
·
Analytics
·
Networking
Technology
·
Security
Solutions
·
Industrial
Robotics
·
Device
Management
·
Remote
Monitoring
·
Data
Management
·
Application
Management
·
Connectivity
Management
Industrial
IoT Market Size and Forecast by Service
·
Key
Findings
·
Consulting
Services
·
Managed
Services
Industrial
IoT Market Size and Forecast by End-Use Vertical
·
Key
findings
·
Manufacturing
·
Utilities
·
Oil
& Gas
·
Transportation
& Logistics
·
Retail
·
Energy
& Power
·
Agriculture
·
Healthcare
·
Others
Industrial
IoT Market Size and Forecast by Regions
·
North
America [U.S., Canada]
·
Europe
[Germany, UK, France, Italy, Spain, Belgium, Netherlands, Rest of Europe]
·
Asia-Pacific
[China, India, Japan, South Korea, Singapore, Malaysia, Rest of Asia-Pacific]
·
Latin
America [ Brazil, Mexico, Argentina, Rest of Latin America]
·
Middle
East and Africa [Israel, South Africa, Saudi Arabia, UAE, Rest of MEA]
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About
Polaris Market Research
Polaris Market Research is a global
market research and consulting company. The company specializes in providing
exceptional market intelligence and in-depth business research services for our
clientele spread across different enterprises. We at Polaris are obliged to
serve our diverse customer base present across the industries of healthcare,
technology, semi-conductors and chemicals among various other industries
present around the world. We strive to provide our customers with updated
information on innovative technologies, high growth markets, emerging business
environments and latest business-centric applications, thereby helping them
always to make informed decisions and leverage new opportunities. Adept with a
highly competent, experienced and extremely qualified team of experts
comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver
value-added business solutions to our customers.
Contact
us
Mr. Rohit
Corporate Sales, USA
Polaris Market Research
Phone: 1-646-568-9980
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