NEW YORK, Feb. 09, 2023 (GLOBE NEWSWIRE) -- "Industrial Internet of Things (IoT) Platform Market" is the title of a new report from Data Bridge Market Research. Key growth strategies, drivers, opportunities, key segments, Porter's Five Forces analysis, and competitive environment are all dissected in detail in the research. In this era of globalization, many businesses high demand for such international market research report to support decision-making. According to an all-inclusive Industrial Internet of Things (IoT) Platform market report, the global market is expected to witness a relatively higher growth rate during the forecast period. Moreover, the report consists of detailed profiles of the Industrial Internet of Things (IoT) Platform market’s major manufacturers and importers who are influencing the market. The report also estimates the market size, and the revenue generated from the sales and technologies by various application segments. Analysis of upstream raw materials, downstream demand and current market dynamics is also carried out in the superior Industrial Internet of Things (IoT) Platform market research report.
Various objectives of marketing research are kept in mind while forming an international Industrial Internet of Things (IoT) Platform market report. The report also delivers a list of the leading competitors and provides insights about strategic industry analysis of the key factors influencing the industry. Business challenges, market structures, opportunities, driving forces, and competitive landscape are also taken into account while forming this market report. The business report is generated with a nice blend of industry insight, practical solutions, talent solutions, and the use of technology to improve customer experience. The Industrial Internet of Things (IoT) Platform market analysis report contains a complete background analysis of the industry, which includes an assessment of the parental market.
Data Bridge Market Research analyses that the industrial internet of things (IoT) platform market is expected to reach USD 1809.04 billion by 2030, which is USD 394.48 billion in 2022, at a CAGR of 20.97% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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The Industrial internet of things is commonly focused on machine-to-machine communication, big data, and ML to deliver better reliability and efficiency to support businesses and industries in their operations. The industrial internet of things provides industrial applications such as medical devices, software-defined production processes, and robotics. The industrial internet of things helps to deliver, exchange, monitor, analyze and deliver valuable new insights.
Industrial internet of things (IoT) platform support in terms of industrial internet, advanced predictive, brings together critical assets, modern industrial workers, and prescriptive analytics. The industrial internet of things (IoT) platform has incorporated IoT with a large number of industrial processes such as maintenance, automation, optimization and networking, among others. Henceforth, the Industry Internet of things is increasing the growth of the market due to the high level of performance and efficiency offered by IIoT during operations.
The Global Market Is Analyzed in Depth in the Latest Study. Taking into account the current level of competition and its projected evolution over the next few years.
Rapidly increasing demands, a rise in industrialization, consumer awareness, growing sectors, and technical improvements are fueling the expansion of the global Industrial Internet of Things (IoT) Platform market. Sales and revenue in this sector have increased at an exponential rate. The market's size and growth are both expected to increase thanks to the factors driving the market's expansion over the projected period.
Leading businesses in the worldwide Industrial Internet of Things (IoT) Platform market are investing heavily in R&D in order to build a larger client base and expand their share of the market by reintroducing improved products to consumers. All of the companies' strategy, as well as their financial health, revenue, gross margin, and growth rate, are detailed in the study.
Some of the major players operating in the industrial internet of things (IoT) platform market are:
- Google LLC (U.S.)
- Cisco (US)
- AT&T (U.S.)
- Microsoft (U.S.)
- SAS Institute Inc., (U.S.)
- Amazon Web Services, Inc. (U.S.)
- Intel Corporation (U.S.)
- Orcale (U.S.)
- IBM (U.S.)
- SAP (Germany)
- Accenture (Ireland)
- Schneider Electric (France)
- Siemens (Netherlands)
- EUROTECH (India)
- Qualcomm Technologies, Inc (U.S.)
- Software AG (Germany)
- Hitachi, Ltd. (Japan)
- eSOL (Japan)
- Siemens (Germany)
- Davra (U.S.)
- Atos SE (France)
- Bosch.IO GmbH (Germany)
- Hitachi Vantara LLC (U.S.)
Recent Development
- In 2021, Siemens AG collaborated with IBM Corporation to increase its industrial IoT platform to be recognised as edge computing platform. With this collaboration, Siemens digital industries software will apply on the IBM open hybrid cloud approach built on Red Hat OpenShift. As a result, upsurge the deployment flexibility of MindSphere. This will help in growing agility and speed across manufacturing plant operations and along the cloud for providing seamless updates, product support and enterprise connectivity.
- In 2021, Silicon Labs launched Custom Part Manufacturing Service. This aids makers in modifying their Silicon Labs hardware at the industry. In the Silicon Labs hardware portfolio comprises wireless SoCs, MCUs and modules. This type of function can help customers to track the entire chip’s journey.
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Critical Insights Related to the Industrial Internet of Things (IoT) Platform Included in the Report:
- Exclusive graphics and Illustrative SWOT analysis of some of the leading companies in this market
- Value chain analysis of prominent players in the market
- Current trends influencing the dynamics of this market across various geographies
- Recent mergers, acquisitions, collaborations, and partnerships
- Revenue growth of this industry over the forecast period
- Marketing strategy study and growth trends
- Growth-driven factor analysis
- Emerging recess segments and region-wise market
- An empirical evaluation of the curve of this market
- Ancient, Present, and Probable scope of the market from both prospect value and volume
Opportunities for Key Players:
- Increase in the availability of low processors and sensors
The industrial internet of things (IoT) Industry is anticipated to benefit considerably from the new product launches and technological advancements in electronic devices and semiconductors. Moreover, the easy availability of low processors and sensors at an affordable cost supports in delivering real-time access to the information. This in turn, is anticipated to positively influence the industrial IoT market growth. For instance, as per the CBI Ministry of Foreign Affairs report, approximately 35% of the internet of things market was projected to reach in 2019 owing to 27% from IoT services, hardware, 22% from connectivity, and 16% from software. Thus, the increase in the availability of low processors and sensors will be expected to crate immense opportunities for the market's growth rate.
Segmentation Covered in Industrial Internet of Things (IoT) Platform Industry Research
Component
- Solution
- Data Management
- Analytics
- Security Solutions
- Others
- Services
- Professional
- Managed
- Platform
- Connectivity Management
- Application management
- Device Management
Application Area
- Supply Chain and Management
- Business Process Optimization
- Workforce Management
- Automation Control
- Emergency and Incident Management
Industry Vertical
- Process Industry
- Energy and Utilities
- Chemical and Materials
- Food and Beverages
- Discrete Industry
- Automotive
- Machine Manufacturing
- Semiconductor and Electronics
- Medical Devices
- Logistics and Transportation
Key Industry Drivers:
- Increasing adoption of artificial intelligence (AI) and internet of things (IoT) in manufacturing industry
The growth of the industrial IoT market increase due to rising adoption of artificial intelligence (AI) and internet of things (IoT) in the manufacturing industry. Artificial intelligence (AI) and internet of things (IoT) help in the optimization of industrial processes coupled with providing quality control forecasting device failure, and then sending emergency alerts, among others. This has in turn augmented investment in artificial intelligence (AI) and internet of things (IoT) in the U.S. The private investment in AI reached around USD 23.6 billion In the U.S., in 2021. This has also augmented the usage cases of artificial intelligence (AI) and internet of things (IoT) across numerous industries.
- Increasing number of connected devices
The increasing number of connected devices is anticipated to open new chances with experience in advanced Artificial Intelligence (AI) algorithms for new enterprises to build cutting-edge solutions which can potentially ease the technology's challenges. Asset management, remote monitoring, remote monitoring, remote servicing, predictive maintenance, and operational intelligence are some of the application areas where industrial internet of things (IoT) is gaining pace. Therefore, increasing number of connected devices is anticipated to drive the market growth rate.
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Industrial Internet of Things (IoT) Platform Market Regional Analysis/Insights:
The countries covered in the industrial internet of things (IoT) platform market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the industrial internet of things (IoT) platform market in terms of revenue and market share due to increasing adoption of connected technology across numerous verticals, such as manufacturing, healthcare, and other. Moreover, the strong presence of major market players cross countries in this region.
Asia-Pacific will continue to project the highest compound annual growth rate during the forecast period of 2023-2030 due to adoption of intelligent technologies, mainly in China and India in this region.
It's in your best interest to take this report into consideration because:
- Strong and extensive research methods were used to construct this study. The thoroughness and precision of the market reports produced by Data Bridge Market Research have earned them a great reputation.
- A complete picture of the competitive scenario of Industrial Internet of Things (IoT) Platform market is depicted by this report.
- The wide range of research on how these innovations may affect market expansion in the future.
- The report's findings are presented in an approachable format, with accompanying visuals (such as histograms, bar graphs, pie charts, etc.) that make the data readily digestible.
- The potential, threats, and difficulties in the Industrial Internet of Things (IoT) Platform market, as well as the factors driving and restraining it, are discussed at length.
- It gives an all-encompassing evaluation of the anticipated conduct of the future market and the changing market condition.
- This study provides a number of strategic business approaches to assist you in making educated business decisions.
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Industrial Internet of Things (IoT) Platform Market: Regulations
- Market Overview
- Global Industrial Internet of Things (IoT) Platform Market, By Component
- Global Industrial Internet of Things (IoT) Platform Market, By Application Area
- Global Industrial Internet of Things (IoT) Platform Market, By Industry Vertical
- Global Industrial Internet of Things (IoT) Platform Market, By Region
- Global Industrial Internet of Things (IoT) Platform Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
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