Zion Market Research

Global Industrial Internet of Things (IIoT) Market : USD 232.15 Billion by 2023 : U.S., UK, France, Germany, China & Japan

Industrial Internet of Things (IIoT) Market by Component (Sensors, Industrial Robotics, Distributed Control System (DCS), Condition Monitoring, Camera Systems, Smart Meters, and Others), by Software (Product Lifecycle Management (PLM) Systems, Manufacturing Execution System (MES), SCADA Systems, Distribution Management System, and Others), for Verticals (Manufacturing, Utilities, Oil & Gas, Metals & Mining, Retail, Healthcare, Transportation & Logistics, and Others) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2023

 

Sarasota, FL -- (SBWIRE) -- 02/14/2019 -- With the presence of a large pool of participants, the global industrial internet of things (IIoT) market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). ARM Ltd., Cisco Systems Inc., General Electric, Intel Corporation, and Rockwell Automation Incorporation are some of the key vendors of industrial internet of things (IIoT) across the world. These players across industrial internet of things (IIoT) market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the industrial internet of things (IIoT) market study.

In a major breakthrough that can create ripples across the Industrial internet of things (IIoT) market, on September 3, 2018, NetComm Wireless, a telecommunications equipment firm, announced the launching of innovative IIoT equipment that enables 4G LTE connectivity for both low powered & low bandwidth things.

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As estimated in this report, the global industrial internet of things (IIoT) market stood at US$ 145.81 Billion in 2017. Witnessing a tremendous rise during the period from 2017 to 2023, the revenue in this industrial internet of things (IIoT) market is expected to reach US$ 232.15 Billion by the end of the forecast period. The main components available in this industrial internet of things (IIoT) market are sensors, industrial robotics, distributed control system (DCS), condition monitoring, camera systems, and smart meters. Among them, the demand for camera system is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.

Escalating Need For Improving Operational Efficiency To Spur Market Growth

"Massive requirement for plummeting distribution & production costs along with escalating demand for enhancing operational efficiency will expand the scope of internet of things (IIoT) market in the next few years," says the author of this study. Apart from this, large-scale funding to develop smart technologies and humungous demand for new technologies such robotics, big data, and cloud computing across myriad sectors will further prompt the expansion of internet of things (IIoT) market in the near future.

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Lack of defined rules and use of outdated equipment, however, will restraint the growth of industrial internet of things (IIoT) market in the years to come. Furthermore, security related issues pertaining to application of big data analytics and artificial intelligence can plunge down the industrial internet of things (IIoT) market value. Nevertheless, emergence of real-time supply chain activities in transportation & logistics sector will enhance the expansion of business space, thereby normalizing the impact of hindrances on the industrial internet of things (IIoT) market, reports the study.

Wide Application Of IoT Across Myriad Sectors To Aid Regional Dominance

Regionally, North America has been leading the worldwide industrial internet of things (IIoT) market and is anticipated to continue on the dominant position in the years to come, states the industrial internet of things (IIoT) market study. High awareness pertaining to advantages of IIoT applications along with early acceptance of IoT in myriad sectors is the main factor behind the dominance of the North America industrial internet of things (IIoT) market. The majority of industry players being based in North America is yet another significant factor that is supporting the growth of this regional industrial internet of things (IIoT) market.

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The global industrial internet of things (IIoT) market is segmented as follows:

By Component

Sensors
Industrial Robotics
Distributed Control System (DCS)
Condition Monitoring
Camera Systems
Smart Meters
Others

By Software

Product Lifecycle Management (PLM) Systems
Manufacturing Execution System (MES)
SCADA Systems
Distribution Management System
Others

By Vertical

Manufacturing
Utilities
Oil & Gas
Metals & Mining
Retail
Healthcare
Transportation & Logistics
Others

Table of Contents
Chapter 1. Introduction

1.1. Report Description and Scope
1.2. Research Scope
1.3. Research Methodology
1.3.1. Market Research Process
1.3.2. Market Research Methodology

Chapter 2. Executive Summary

2.1. Global Industrial Internet of Things (IIoT) Market, 2015–2023 (USD Billion)
2.2. Global Industrial Internet of Things (IIoT) Market: Snapshot

Chapter 3. Industrial Internet of Things (IIoT) – Market Dynamics

3.1. Introduction
3.2. Market Drivers
3.2.1. Global Industrial Internet of Things (IIoT) Market Drivers: Impact Analysis
3.2.2. Increasing investments in smart technologies to improve operational efficiency by various industries
3.2.3. The ability of IIoT to reduce manufacturing cost
3.3. Market Restraints
3.3.1. Lack of a defined protocol or standardization and use of old equipment
3.3.2. Security-related issues coupled with big data and artificial intelligence
3.4. Opportunities
3.4.1. Increasing set-up of data centers
3.5. Porter's Five Forces Analysis
3.5.1. Bargaining Power of Suppliers
3.5.2. Bargaining Power of Buyers
3.5.3. Threat From New Entrants
3.5.4. Threat From New Substitutes
3.5.5. Degree of Competition
3.6. Market Attractiveness Analysis
3.6.1. Market Attractiveness Analysis, by Component Segment
3.6.2. Market Attractiveness Analysis, by Software Segment
3.6.3. Market Attractiveness Analysis, by Vertical Segment
3.6.4. Market Attractiveness Analysis, by Regional Segment

Chapter 4. Global Industrial Internet of Things (IIoT) Market – Competitive Landscape

4.1. Company Market Share Analysis (Subject to Data Availability)
4.1.1. Global Industrial Internet of Things (IIoT) Market: Company Market Share, 2017
4.2. Strategic Development
4.2.1. Acquisitions & Mergers
4.2.2. New Product Launch
4.2.3. Agreements, Partnerships, Collaborations and Joint Ventures
4.2.4. Research and Development, Product and Regional Expansion

Chapter 5. Global Industrial Internet of Things (IIoT) Market – Component Segment Analysis

5.1. Global Industrial Internet of Things (IIoT) Market: Component Overview
5.1.1. Global Industrial Internet of Things (IIoT) Market Revenue Share, by Component, 2017 and 2023
5.2. Sensors
5.2.1. Global Industrial Internet of Things (IIoT) Market by Sensors, 2015-2023 (USD Billion)
5.3. Industrial Robotics
5.3.1. Global Industrial Internet of Things (IIoT) Market by Industrial Robotics, 2015-2023 (USD Billion)
5.4. Distributed Control System (DCS)
5.4.1. Global Industrial Internet of Things (IIoT) Market by Distributed Control System (DCS), 2015-2023 (USD Billion)
5.5. Condition Monitoring
5.5.1. Global Industrial Internet of Things (IIoT) Market by Condition Monitoring, 2015-2023 (USD Billion)
5.6. Camera Systems
5.6.1. Global Industrial Internet of Things (IIoT) Market by Camera Systems, 2015-2023 (USD Billion)
5.7. Smart Meters
5.7.1. Global Industrial Internet of Things (IIoT) Market by Smart Meters, 2015-2023 (USD Billion)
5.8. Others
5.8.1. Global Industrial Internet of Things (IIoT) Market by Other Components, 2015-2023 (USD Billion)

Chapter 6. Global Industrial Internet of Things (IIoT) Market – Software Segment Analysis

6.1. Global Industrial Internet of Things (IIoT) Market: Software Overview
6.1.1. Global Industrial Internet of Things (IIoT) Market Revenue Share, by Software, 2017 and 2023
6.2. Product Lifecycle Management (PLM) Systems
6.2.1. Global Industrial Internet of Things (IIoT) Market by Product Lifecycle Management (PLM) Systems, 2015-2023 (USD Billion)
6.3. Manufacturing Execution System (MES)
6.3.1. Global Industrial Internet of Things (IIoT) Market by Manufacturing Execution System (MES), 2015-2023 (USD Billion)
6.4. SCADA Systems
6.4.1. Global Industrial Internet of Things (IIoT) Market by SCADA Systems, 2015-2023 (USD Billion)
6.5. Distribution Management System
6.5.1. Global Industrial Internet of Things (IIoT) Market by Distribution Management System, 2015-2023 (USD Billion)
6.6. Others
6.6.1. Global Industrial Internet of Things (IIoT) Market by Other Software, 2015-2023 (USD Billion)