Southeast Asia Industrial IoT Market to be Worth $6.87 Billion by 2030 by Meticulous Research®

According to a new market research report titled, 'Southeast Asia Industrial IoT Market by Component (Hardware, Platform, Services, Connectivity), Industry (Agriculture, Manufacturing, Energy & Utilities, Oil & Gas, Aerospace, Retail, Transportation & Logistics, Others), and Geography-Forecasts to 2030', the Southeast Asia Industrial IoT market is projected to reach $6.87 billion by 2030, at a CAGR of 19.1% from 2023 to 2030.

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Industrial IoT (IIoT) refers to a system of sensors, instruments, machines, and other industrial devices networked via industrial management and/or business intelligence (BI) applications. IIoT is the connectivity between systems, machines, and people in the manufacturing world that benefits various sectors, including healthcare, public utilities, retail, logistics, and others. IIoT increasingly occupies more space in industrial environments, improving operations, resource utilization, inventory management, and more through sensors and smart machinery.

Some of the major factors driving the growth of this market are rising investments in Industry 4.0 technologies, government initiatives to promote industrial automation, and the growing need to improve productivity and efficiency. However, the lack of standardization and high capital & OpEx requirements restrain the growth of the Southeast Asia IIoT market.

The use of Industrial IoT for predictive maintenance and the proliferation of data centers are expected to create market growth opportunities. However, vulnerability issues with IoT devices and the lack of skilled professionals are major challenges for market growth. Additionally, the rising popularity of IIoT digital twins, the emergence of edge computing, and the rising adoption of smart manufacturing-as-a-service are some of the major trends in this market.
To provide efficient analysis, Meticulous Research® has segmented this market based on components (hardware (network components, sensors & actuators, and others), platforms, services (professional & managed), and connectivity), industry verticals (agriculture, manufacturing, retail, energy & utility, oil & gas, aerospace, transportation & logistics, telecom and others) and geography.

Based on component, the Southeast Asia Industrial IoT market is segmented into hardware, platforms, services, and connectivity. In 2023, the hardware segment is expected to account for the largest share of the Southeast Asia Industrial IoT market. However, the platform segment is slated to record the highest CAGR during the forecasted period. Industrial IoT platforms are tools for improving connectivity, control, and data analysis in industrial environments. Industrial IoT platforms offer avenues to coordinate connected devices and processes. They assist in developing applications for unique improvements and challenges. The rising adoption of industrial IoT platforms by different industry verticals to improve operational efficiency, along with the increasing need for superior monitoring technologies, is driving the growth of this segment.

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Based on industry vertical, the Southeast Asia Industrial IoT market is segmented into agriculture, manufacturing, retail, energy & utilities, oil & gas, aerospace, transportation & logistics, telecom, and other industry verticals. In 2023, the manufacturing segment is expected to account for the largest share of the Southeast Asia Industrial IoT market. The manufacturing industry is adopting automation and robotics systems extensively throughout production lines to enhance product quality, reduce work-in-progress time, and improve equipment reliability. IIoT can transform traditional, linear manufacturing supply chains into dynamic, interconnected systems-a digital supply network (DSN)-that can more readily incorporate ecosystem partners.

Thus, the growing need for centralized monitoring and predictive maintenance of assets, the increasing number of smart factories, the advent of Industry 4.0, and the increasing adoption of autonomous robots for industrial automation drive the growth of this segment. Moreover, the manufacturing segment is also expected to record the highest CAGR during the forecast period.

Based on geography, the Southeast Asia Industrial IoT market is segmented into Indonesia, Vietnam, Thailand, Malaysia, Singapore, Philippines, rest of Southeast Asia. In 2023, Indonesia is expected to account for the largest share of the Southeast industrial IoT market. The large market share of the country is attributed to the rising demand for automation of manufacturing processes, supportive government initiatives for the digital transformation of the industries, and rising investment in industry 4.0 technologies.

Key Players:
The key players operating in the Southeast Asia Industrial IoT market are ABB Ltd. (Switzerland), General Electric Company (U.S.), Emerson Electric Co. (U.S.), Intel Corporation (U.S.), Cisco Systems, Inc. (U.S.), SAP SE (Germany), IBM Corporation (U.S.), Honeywell International Inc. (U.S.), Amazon Web Services, Inc. (U.S.), Siemens AG (Germany), Huawei Technologies Co, Ltd. (China), Rockwell Automation, Inc. (U.S.), PTC, Inc. (U.S.), Dassault Systemes (France), Robert Bosch GmbH (Germany), KUKA AG (Germany), Microsoft Corporation (U.S.), Schneider Electric SE (France), Advantech Co., Ltd. (Taiwan), and C3.ai, Inc. (U.S.).

To gain more insights into the market with a detailed table of content and figures, click here: @ https://www.meticulousresearch.com/product/south-east-asia-industrial-iot-market-5739

Scope of the Report:
Southeast Asia Industrial IoT Market, by Component
• Hardware
o Network Components
o Sensors & Actuators
o Others
• Platform
• Services
o Professional Services
o Managed Services
• Connectivity

Southeast Asia Industrial IoT Market, by Industry Vertical
• Agriculture
o Precision Farming
o Livestock Monitoring
o Smart Greenhouse
o Fish Farming
o Smart Irrigation
• Manufacturing
o Surveillance & Safety
o Quality Management
o Resource Optimization
o Inventory & Warehouse Management
o Machine Inspection & Maintenance
o Production Planning
o Energy Management
o Smart Robotics
• Retail
o Operations Management
o Asset Management
o Customer Experience Management
• Energy & Utility
o Predictive Maintenance
o Remote Monitoring
o Worker Safety & Security
o Distribution Management
o Asset Management
• Oil & Gas
o Predictive Maintenance
o Remote Monitoring
o Worker Safety & Security
o Distribution Management
o Asset Management
• Aerospace/Airline
o Performance Management
o Energy Management
o Predictive Maintenance
o Passenger Experience Management
• Transportation & Logistics
o Smart Ticketing & Toll
o Parking Management
o Traffic Management
o Passenger Information
o Freight Information
o Telematics
o Others
• Telecom
o Asset Management
o Remote Monitoring
o Others
• Other Industry Verticals

Southeast Asia Industrial IoT Market, by Country/Region
• Indonesia
• Vietnam
• Thailand
• Malaysia
• Singapore
• Philippines
• Rest of Southeast Asia

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This release was published on openPR.