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What's driving the Industrial IoT (IIoT) Market Growth? Leading Industry Players: ABB Ltd, Cisco Systems, General Electric Company, IBM Corporation,Rockwell Automation and Others

04-16-2019 09:16 AM CET | IT, New Media & Software

Press release from: Polaris Market Research & Consulting

Industrial IoT (IIoT) Market

Industrial IoT (IIoT) Market

“Global Industrial IoT (IIoT) Market Size| Global Industry Forecast 2017 - 2026" The report classifies the global Industrial IoT Market in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth.

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. 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.

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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
• IBM Corporation
• Microsoft Corporation
• ARM Ltd
• Intel Corporation
• Kuka AG

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.

Industrial IoT Market Size and Forecast by Technology & Solutions

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
Consulting Services
Managed Services

Industrial IoT Market Size and Forecast by Regions

North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Asia Pacific
China
India
Japan
Australia
Latin America
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. We provide unmatched quality of offerings to our clients present globally. 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.

Contact us-

Mr. Rohit
Corporate Sales, USA
Polaris Market Research
Phone: 1-646-568-9980
Email: sales@polarismarketresearch.com
Web: www.polarismarketresearch.com

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