Albany, NY -- (SBWIRE) -- 01/29/2019 -- Facing the limitations of hardware-driven growth, manufacturing industries have now turned their gaze upon Industrial Internet of Things (IIoT). It not only enables them to boost their production efficiency but also enhance revenues with better customer-focused models. Thus the global industrial internet of things (IIoT) market, subject of a research report by Transparency Market Research, seems poised to rise. Considering the fact that the market is still in its nascent stages, its growth prospects seem really impressive at this point.

The upcoming TMR report promises to be a valuable repository of information on the global industrial internet of things (IIoT) market. It would offer key stakeholders in it crucial insights for taking strategic decisions. Those include detailed discussion on growth drivers and restraints, competitive dynamics, and various segments.

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IIoT-enabled business models are taking over the domains of industrial equipment and machinery. This coupled with the integration of the latest technologies with IIoT platforms is expected to fuel the global industrial internet of things (IIoT) platform big time in the near term. Some such cutting-edge modern technologies are automation, machine learning (ML), artificial intelligence (AI), blockchain, cloud, and others.

Other factors boosting the global IIoT platform market is the evolution of more powerful and cheaper sensors. This is leading to wider applications of IIoT platforms. All these are making the IIoT platform ecosystem dynamic. As far as the competitive landscape is concerned, the market is projected to be equally dynamic. This is because of the big ticket acquisitions and collaborations that could be leveraged by organizations to fill capability gaps. Another factor that is widely believed to be reshaping the contours of the market could be the foray of innovative and disruptive players. They are launching new and better products every now and then, thereby changing the growth course.

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Posing a challenge to the growth of the global IIoT platform market, on the other hand, could be the high cost of installing. This is thought to be deterring uptake by small and medium industries having limited capital. However, with costs coming down, the market could see more opportunities for growth.

Global IIoT Platform Market: Regional Outlook

The upcoming report studies the geographical distribution of the global IIoT market. It does so by trying to figure out the potential of various regions with respect to revenue generation. North America could be a prominent contributor to the market for a number of reasons. One of those could be the presence of numerous key players in the region. Second, early adoption of latest technologies in the region could also be boosting its market. Most industries in North America, particularly in the U.S. and Canada have ample of funding and thus can afford latest, sophisticated technologies to improve revenues.

Meanwhile, going forward, Asia Pacific is expected to play a key role in the global IIoT platform market. This is because of the China, the manufacturing powerhouse further strengthening its production capabilities. South Korea, Japan, Thailand, Malaysia, and India are other potential IIoT platform markets in the region.

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Global IIoT Platform Market: Competitive Dynamics

Some of the prominent participants in the global IIoT market are PTC, SAP, IBM, Accenture, Hitachi, and Oracle. The report would study their major strategies and the opportunities and pitfalls awaiting them.