Global Industrial Internet of Things (IIoT) Market by Component and Application: Opportunity Analysis and Industry Forecast 2017-2023

Advancement in technologies has helped key players, such as to offer enhanced IIoT offerings to their end users. Integration of smart sensors into industrial machines encouraged the manufacturers to reduce the operational cost by 50% and is expected to decrease further during the forecast period. Industrial Internet of Things (IIoT) Market size was valued at $115 billion in 2016, and is projected to reach at $197 billion by 2023, growing at a CAGR of 7.5% from 2017 to 2023.

Increase in technological investments in the developing regions coupled with the emergence of big data analytics has widely driven the global market growth of IIoT. Further, rise in demand from the healthcare industry and the initiation of industry-specific platforms in the developed region is expected to fuel the growth of the market.

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IIoT is a network of multiple devices connected through communications technologies. The sub-systems are able to collect, monitor, analyze, and deliver insights for driving business decisions for the industrial companies. IIoT is an integration of advanced technologies such as Machine-to-Machine (M2M) communication.

Some of the significant players that operate in the market and are profiled in the report include Cisco Systems, Inc., General Electric, Intel Corporation, Rockwell Automation, Inc., ABB, Texas Instruments Inc., Dassault Systmes, Honeywell International Inc., Huawei Technology Co., Ltd., and International Business Machines Corporation (IBM).

Key Benefits for Stakeholders
• This study comprises analytical depiction of the Industrial IoT market with current trends and future estimations to depict the imminent investment pockets.
• The overall market potential is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
• The current market is quantitatively analyzed from 2017 to 2023 to highlight the financial competency of the market.
• Porters Five Forces analysis illustrates the potency of the buyers and suppliers in the IIoT industry.

Industrial Internet of Things (IIoT) Market Key Segments:
By Component
• Hardware
• Software
• Services
• Connectivity
By Application
• Manufacturing
• Energy & Power
• Oil & Gas
• Healthcare
• Transportation & Logistics
• Others
By Region
• North America
• Europe
• Asia-Pacific
• LAMEA

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