The Global Industrial Internet of Things (IIoT) Market Analysis, 2020 market research report depicts a deep-dive market analysis of statistics of the Global Industrial IoT market which consists of region-wise size, market forecast, CAGR, market segmentation, market share of various types of technology, type of IIoT, software, verticals, etc.
According to MarkNtel Advisors’ research report titled “Global Industrial Internet of Things (IIoT) Market Analysis, 2020”, the Industrial IoT market across the globe is forecast to grow at the CAGR of 8% during 2020-25. Asia-Pacific acquired the major market share in 2019, owing to the increasing R&D investment in countries such as China and Japan. Furthermore, technological advancement and the use of AI, ML, and robotics in the sectors such as manufacturing, oil and gas, healthcare, agriculture, etc. are some of the key contributing factors for the market growth of industrial IoT worldwide. Furthermore, the proliferating 3D printing technology in developed countries in manufacturing automotive components, healthcare equipment, etc. are also adding pace to the Industrial IoT market.
The Demand for Wireless Technology to Experience Robust Growth
The wireless technology is considered to be the leading segment in the Industrial IoT market. The emergence of Industry 4.0 in the European region demand for connected equipment and investment in R&D in the APAC region coupled with the high-speed internet service providers across the globe are contributing to the global growth of wireless technology. Also, the benefit of high network speed in the wireless technology and the ease of integration of any equipment and software installation are further augmenting the growth for wireless technology.
The Emergence of 3D Printing to Boost IoT in Manufacturing
In 2019, the manufacturing sector acquired the major market share owing to the increasing investment in the technologies for quick and effective operations. Moreover, the government’s initiatives such as “Made in China”, “Make in India” and the investment in technology to boost country’s manufacturing industry are adding pace to the growth of the market share of the manufacturing sector, as stated in the MarkNtel Advisors’ research report “Global Industrial Internet of Things (IIoT) Market Analysis, 2020”.
According to MarkNtel Advisors, the industry is built on strategic alliances and partnerships to provide a complete solution. The technological advancements in the solutions by the players and their geographical expansion, strategic alliances make the competition in the industry stiff. The key players in the industry with significant dominance are Cisco, GE, Honeywell, Intel, IBM, ABB, Rockwell Automation, Siemens, Texas Instrument, ARM Holding, PTC, SAP, Huawei, Dassault Systems, etc.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions:
Q. What is the historical year, base year and forecast year considered in the research report on Global Industrial Internet of Things (IIoT) ?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecast up-to 2025.
Q. What are the units or denomination for measuring value in the report?
A. The market size/industry size or the market value is measured in terms of USD Billion.
Q. What would be the growth rate or CAGR of the Global Industrial Internet of Things (IIoT) Market during 2020-25?
A. The Global Industrial Internet of Things (IIoT) market is expected to grow at a CAGR of around 8% during 2020-25.
Q. Which region would grab the highest market share during 2020-25?
A. It is forecast that Asia Pacific will dominate the global market with the majority share, registering considerably higher CAGR.
Q. Who are the key competitors or players operating the Global Industrial Internet of Things (IIoT) Market ?
A. Cisco, GE, Honeywell, Intel, IBM, ABB, Rockwell Automation, Siemens, Texas Instrument, ARM Holding, PTC, SAP, Huawei, Dassault Systems, etc., are the leading players in the Global Industrial Internet of Things (IIoT) Market?
Q. Which Software type would emerge as an opportunity area for players in the Global Industrial Internet of Things (IIoT) Market?
A. Farm Management System segment is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which vertical would emerge as an opportunity area for players in the Global Industrial Internet of Things (IIoT) Market?
A. The manufacturing sector grabbed a significant share continue to grow at the highest CAGR, presenting immense opportunities for manufacturers and suppliers of the Global Industrial Internet of Things (IIoT) Market.
